Why General Electric Stock Just Jumped
Shares of industrial powerhouse General Electric (NYSE: GE) jumped out of the gate Thursday morning, and remained up 5.6% at 11:40 a.m. EDT. There might be two reasons GE stock is roaring today.
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The first catalyst I see driving GE stock higher this week is the company's announcement on Monday that it is making tenders to buy back up to $2 billion worth of notes that it has issued. This tender offer, the company said, is part of a previously announced plan to strengthen its balance sheet and achieve a target of a 2.5 multiple of net debt to EBITDA. This plan has already seen GE retire $43 billion worth of gross debt over the past couple of years.
Source Fool.com
