StockWatch: GE Slides as Boeing Bounces Back
Shares of #GE were down 6% on the indication that the company plans to restructure itself.
GE confirmed plans to sell its aircraft leasing operation in return for about $24 billion in cash and is also planning a one-for-eight reverse stock split to reduce the number of outstanding shares.
Boeing is rumored for a potentially huge 737Max 7 aircraft order as the carrier looks to refresh its fleet and could include over 100 orders.
It follows Boeing’s February report that showed more orders than cancellations for the first time since 2019, when the 737 Max was grounded following two fatal crashes.
– GE 02:25
– BA 03:45