The financial service losses are also expected to peak in 2010, although the company remains concerned that commercial real estate investment losses could be seen.  Still, Sherin noted that the situation is not as dire as what had been seen.  Frankly, this is par for the course and there did not seem to be any new hidden or ticking time-bombs here.

It was early this morning that JPMorgan raised the estimates of GE  with lower losses and expanding margins.  JPMorgan took the earnings up to $1.00 EPS for 2010 and $1.30 for 2011 (versus Thomson Reuters estimates of $0.99 EPS and $1.21 EPS, respectively).

GE shares are up 2.1% at $17.66 on just over 100 million shares at 12:30 PM EST.  We saw GE hit a new 52-week high of $17.76 earlier this morning.

JON C. OGG