Why Shares of General Electric Are Up Today
Shares of General Electric (NYSE: GE) traded up more than 4.5% on Monday as Wall Street continues to digest -- and applaud -- the industrial conglomerate's third-quarter results. Barclays analyst Julian Mitchell chimed in on Monday, saying that after a lack of worrisome surprises in the recently released results, the bull case for the company is becoming clearer.
A series of ill-timed acquisitions and a debt-laden balance sheet have crippled GE in recent years, sending shares down more than 90% from highs reached in the late 1990s and causing the company to announce a series of CEO changes and a number of divestitures. GE's image took a fresh hit earlier this year when a prominent short-seller called it "a bigger fraud than Enron," warning of potentially devastating surprises lurking on GE's balance sheet.
GE's LEAP Engine, part of the company's impressive aerospace portfolio. Image source: General Electric.
Source Fool.com
