Company Of The Day: General Electric
What?
General Electric (NYSE:GE) plans to split into three companies, focused on aviation, health care, and energy. GE intends to spin off the healthcare division by 2023 and the energy unit by 2024. The current GE will be an aviation-focused company.
Why?
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GE stock has underperformed considerably, losing about half its value over the last five years. It’s likely that a spin-off could help to simplify its business structure and unlock some value for shareholders.
So What?
GE stock gained about 3% in Tuesday’s trading following the news.
See Our Complete Analysis For General Electric
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