Business

General Electric surges after announcing another spinoff as it leaves the Dow

2 monthes ago   |   By

Andrew Burton/Getty Images
General Electric said Monday it will exit its majority stake in Baker Hughes , an oilfield services company, over the next two to three years. It will also spin out GE Healthcare as a standalone company.
On Monday, GE said it would sell its distributed power business to a private equity firm for $3.25 billion.
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.
Follow GE's stock price in real-time here.
General Electric has found a way to tell investors some...
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General Electric surges after announcing another spinoff as it leaves the Dow

General Electric surges after announcing another spinoff as it leaves the Dow

2 monthes ago   |   By

Andrew Burton/Getty Images
General Electric said Monday it will exit its majority stake in Baker Hughes, an oilfield services company, over the next two to three years. It will also spin out GE Healthcare as a standalone company.
On Monday, GE said it would sell its distributed power business to a private equity firm for $3.25 billion.
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.
Follow GE's stock price in real-time here.
General Electric has found a way to tell investors some...
Read more ...

 

GE will spin off its healthcare business and split from oil giant Baker Hughes in a massive reorganization

GE will spin off its healthcare business and split from oil giant Baker Hughes in a massive reorganization

2 monthes ago   |   By

General Electric
General Electric will spin off its healthcare business and divest its stake in oil-services company Baker Hughes, it said in a statement on Tuesday.
The moves come as part of a broad corporate reorganization that sees GE trying to shore up its balance sheet and streamline its businesses.
General Electric said on Tuesday that it will spin off its healthcare business and divest its stake in oil-services company Baker Hughes as part of a sweeping corporation reorganization.
The company is making these moves in order to focus on aviation, power, and renewable energy, according...
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10 things you need to know before the opening bell

10 things you need to know before the opening bell

2 monthes ago   |   By

Toby Melville/Reuters
Here is what you need to know.
General Electric spins off its healthcare business. The company is also separating its oil-services company Baker Hughes as it looks to focus on its aviation, power, and renewable-energy units. See the rest of the story at Business Insider NOW WATCH: Learning to celebrate failure at a young age led to this billionaire's success See Also: A tourist tried to pat a wild lion on the head - and it's safe to say the lion was not impressed 'It's heartbreaking': A Texas landowner who sees immigrants cross through her property regularly says...
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GE to spin off healthcare business, separate from oil giant Baker Hughes

GE to spin off healthcare business, separate from oil giant Baker Hughes

2 monthes ago   |   By

Nabil al-Jurani/AP
General Electric Co on Tuesday said it plans to spin off its healthcare business and separate its oil services company Baker Hughes.
It will now look to focus on aviation, power, and renewable energy.
GE's healthcare business had $19.11 billion in revenue in 2017, representing more than 15 percent of the company's annual sales.
GE's oil and gas unit reported sales of $17.23 billion in 2017.
- General Electric Co on Tuesday said it plans to spin off its healthcare business and separate its oil services company Baker Hughes, as it looks to streamline operations and focus...
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