Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, January 6, 2023

Article Excerpt

GENERAL ELECTRIC CO., $71.96, New York symbol GE, remains a hold. The industrial conglomerate has completed the first step in its plan to break itself up into three separate companies. This week, GE spun off its healthcare business as a new firm called GE HEALTHCARE TECHNOLOGIES INC., $58.95, Nasdaq symbol GEHC. It makes X-ray equipment, MRIs and ultrasound scanners. Investors received one share of the new firm for every three GE shares they held. They are not liable for capital gains taxes until they sell their new shares. Parent GE still holds 19.9% of GE HealthCare. As well, GE plans to combine its renewable energy and power businesses into a single entity. Its products include turbines and related equipment for gas-fired and nuclear power plants, plus equipment for wind farms. It will then spin off 100% of this business (called GE Vernova) to shareholders in early 2024. The remaining firm (called GE Aerospace) will focus on aviation equipment such as jet engines and aircraft…