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GE Stock Lower as S&P Reduces Credit Rating Outlook

NEW YORK (TheStreet) --General Electric Co. (GE - Get Report) stock is down by 0.76% to $27.56 in mid-morning trading on Thursday, as the S&P cut its outlook on the company's credit rating to "negative" from "stable."

The S&P's decision comes after activist investor Nelson Peltz purchased a $2.5 billion stake in the multinational conglomerate, Reuters reports.

Peltz's Train Fund Management disclosed on Monday that it has taken about a 1% stake in GE and has urged the company to look into more share buybacks and even taking on more debt.

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Train is advocating share buybacks "beyond our current expectations," S&P said in a report, Reuters noted.

S&P's "negative" outlook means it could downgrade GE's credit rating in the next two years.

"The negative outlook reflects our expectation that the company could potentially adopt a less conservative financial policy than we currently expect," S&P said, Reuters...