Wall St. gains, buoyed by GE divestment plan
The S&P Industrials was up 1.3 percent as the best performing of the 10 major S&P sectors, paced by GE's gain. General Electric jumped 8.7 percent to $27.96 as the most active stock on the New York Stock Exchange, with more than 120 million shares changing hands. “I expect buybacks to continue because a lot of major stocks, including Apple, are undervalued,” Adam Sarhan, chief executive of Sarhan Capital in New York. GE will sell the bulk of its $30 billion real estate portfolio over the next two years as it returns to its industrial roots, with Blackstone and Wells Fargo snapping up most of its assets.
See the original post:
Wall St. gains, buoyed by GE divestment plan