GE stock jumps as plan to split into 3 companies triggers potential breakout, finally

Shares of General Electric Co. were set up for a potential breakout of a long trading range on Tuesday, after the industrial conglomerate announced plans to split up into three separate, publicly traded companies.

The rally comes after the company said it will eventually split into three, “well capitalized” and “investment-grade” companies focused on the aviation, healthcare and energy sectors. He said on the investor call following the announcement that the split will allow the separated businesses to “realize their full potential,” and will leave GE a “simpler, stronger and more focused” company.

S&P Global Ratings said it has placed GE’s BBB+ credit rating on “CreditWatch with negative implications” after the plan to split, as the credit rating agency said it would view GE as “less diversified” following the separation of GE Heathcare. A BBB+ rating at S&P is three notches above speculative grade, or “junk” status.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves premarket: GE, Palantir, PayPal and moreHere are the companies making headlines before the bell on Tuesday.
Source: CNBC - 🏆 12. / 72 Read more »

Ariel Investments' John Rogers shares a new value stock pick with market at record highsNew for subscribers: Ariel Investment’s John Rogers shares a new value stock pick with market at record highs. Check out CNBCPro today.
Source: CNBC - 🏆 12. / 72 Read more »