GE bucked the downtrend today, rising 0.9% as Jeff Immelt - speaking at a conference...
GE bucked the downtrend today, rising 0.9% as Jeff Immelt - speaking at a conference (transcript) - says the company is considering spinning off parts of GE Capital through an IPO. "In financial services, putting things up for sale with the assumption that a bank would buy it has been a fool's journey," said Immelt, "(but) the capital markets are very receptive to IPOs." The proceeds would fund more buybacks as Immelt hopes to lower the share count to 9B-9.5B shares by 2015's end (from about 10.4B currently).
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