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Wall Street Welcomes General Electric’s Move to Sell Financial Unit

July 19, 2023
in Trade Tube
Reading Time: 1 min read
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Wall Street was flat at Friday’s opening bell despite blue chip General Electric’s (GE) huge announcement before the bell. GE is selling most of its GE Capital unit to become a pure play industrial company. The conglomerate’s former Chairman and CEO Jack Welsh is pleased with the restructuring telling CNBC ‘I like the package. It looks like a smart move and right for the changing financial landscape.’ Apple’s (AAPL) much-anticipated Watch debuts today. The company kicked off its online pre-orders. The watch is also on display at selected stores around the world. Ruby Tuesday (RT) narrowed its expected Q4 losses. The restaurant chain says full-year sales will likely be flat or down 1%.

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