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...
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.
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