⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

What's Going On With General Electric Stock Today?

Published 04/01/2023, 13:21
Updated 04/01/2023, 14:40
© Reuters.  What's Going On With General Electric Stock Today?
GE
-

Benzinga - General Electric Co (NYSE: NYSE:GE) shares are moving Wednesday after the company completed the separation of its healthcare business, launching GE HealthCare Technologies Inc (NASDAQ:GEHC).

What Happened: GE has completed its previously announced spin off of its healthcare unit. GE HealthCare is set to begin trading on the Nasdaq under the ticker symbol "GEHC," effective at the market opening.

Holders of GE common stock received one share of GE HealthCare common stock for every three shares of GE stock held. GE will retain approximately 19.9% of GE HealthCare shares. GE chairman and CEO Lawrence Culp will serve as non-executive chairman of GE HealthCare.

GE's healthcare business invests more than $1 billion in R&D annually and generates approximately $18 billion in revenue. The company expects its addressable markets to expand from $84 billion to $102 billion by 2025.

Photo: Michal Jarmoluk from Pixabay.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.