General Electric stock rises strongly as company consolidates new direction

April 11, 2015 9:56 PM

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General Electric Co Chief Executive Jeff Immelt has had a bumpy ride for the past seven years, navigating economic turbulence, swapping in and out of businesses and struggling to energize his sluggish stock.

Immelt unveiled a surprise move to sell off most of GE's finance operations over the next few years, thereby reducing a unit that comprised more than half of the U.S. conglomerate's profits before the 2008 credit crisis down to 10 percent by 2018.

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