General Electric (GE) shares soared almost 11% on Friday, making it TheStreet’s Move of the Day. GE announced Friday morning the sale of most of its finance arm GE Capital. The big buyers are Blackstone (BX) and Wells Fargo (WFC), which are acquiring GE’s real estate holdings for $26.5 billion dollars. This comes as GE looks to become a leaner company, focusing largely on industrials. S&P Capital IQ maintains a buy rating on the stock and raised its 12-month price target by $3 to $34 per share. Though Moody’s went ahead and lowered its rating on the company’s unsecured debt by one notch, though it is still investment grade. TheStreet’s Scott Gamm has details from New York.
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