General Electric (NASDAQ:GE) stock rises after the buyback announcement

April 12, 2015 8:07 PM

52 0

General Electric (NASDAQ:GE) stock rises after the buyback announcement

General Electric Company (NASDAQ:GE) stocks rose this week after the company announced its plans to sell off its financial services and real estate operations. The company is set to focus on manufacturing jet engines, power-wind engines and others core sectors of the group.

General Electric’s financial segment brought more than 50 percent profit, before the 2008 financial crisis. The share of financial services will be lesser than 10 percent by 2018. The company has announced massive buyback of stock in the next few years. GE CEO Jeff Immelt stated that he valued Gener...

Also read: Trump warns of ‘retribution’ for companies that offshore jobs, threatening 35 percent tariff

Read more

To category page

Loading...