Shares of General Electric Co. GE, +0.37% were little changed in active midday trade Thursday, erasing earlier losses of as much as 2.5%. Volume topped 27 million shares, enough to make the stock the most actively traded on the NYSE. Over the July 4 holiday, The Wall Street Journal reported that the head of the company in Latin America, Daurio Speranzi Jr., was arrested by Brazilian police, as part of an investigation into companies accused of taking cash from public health contracts when Speranzi worked at Philips Medical Systems. “We can confirm the detention of Daurio Speranzini Jr. as part of an ongoing Brazilian Federal Police investigation,” GE said in an emailed statement to MarketWatch. “The allegations refer to a time period when Mr. Speranzini worked for a company unrelated to GE.” The stock has rallied 4.9% since it left the Dow Jones Industrial Average DJIA, +0.72% after the June 25 close, while the Dow has edged up 0.4%. Year to date, GE’s stock has tumbled 23% and the Dow has slipped 1.5%.
GE's stock bounces on heavy volume, erases earlier loss
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