Why General Electric Stock Popped Today
General Electric (NYSE: GE) is shrinking -- and for investors, that's a good thing.
Shares of the onetime industrial giant jumped 2.1% through noon ET on Monday after GE confirmed its plans to spin off its GE HealthCare division as an independent company this morning, announcing the composition of the new company's board of directors and setting a target date of the "first week of January 2023" for the spinoff.
GE named 10 executives to sit on the board of the newly independent GE HealthCare, starting with the division's current president and CEO Peter Arduini and including Larry Culp (GE's current chairman and CEO) as well. Other members hail from academia, from hospital networks, accounting firms, and even tech company HP.
Source Fool.com
