General Electric surges after announcing another spinoff as it leaves the Dow (GE)
The moves come as new CEO John Flannery approaches his anniversary at the company’s helm, where he has set out sweeping cost-cutting and debt-reduction goals. General Electric has found a way to tell investors some good news as it leaves one of the most famous stock indexes in the world. Shares of the once-sprawling industrial behemoth surged as much as 7% Tuesday after it said it would sell off its majority stake in oil services company Baker Hughes over the next two to three years.
Source:: https://finance.yahoo.com/news/general-electric-surges-announcing-another-124913544.html
