Why General Electric Stock Is Up Today
One of the original members of the Dow Jones Industrial Average is announcing plans to split into three parts, and investors are cheering the decision. Shares of General Electric (NYSE: GE) were up as much as 7% on Tuesday morning after the conglomerate founded by Thomas Edison announced plans to streamline.
It has been a rough decade for General Electric, with the company weighed down by debt taken on during an ambitious multiyear campaign to expand from its industrial roots into finance, media, and other sectors. In recent years, GE has mostly been focused on selling off assets and paying down that debt, and the company announced a huge step in that direction on Tuesday.
A GE9X Engine in action. Image source: General Electric.
Source Fool.com
