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Why Shares in General Electric Powered Higher Today

TheMotleyFool

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Why Shares in General Electric Powered Higher Today: https://g.foolcdn.com/editorial/images/713764/stock-rising-2.jpg

Shares of industrial giant General Electric (NYSE: GE) were up by 3% just before the close of trading today. The move comes on the back of the announcement of an order to construct a new gas-fired power plant in Ireland.

The order itself is not a needle mover. However, it is a symbolic plus for GE Power and a sign that the business is firmly positioned as a solid earnings and cash-flow generator for the company.

The order is for a temporary reserve power plant in Dublin, which, according to a GE press release, will be "powered by 6 GE LM2500XPRESS gas turbines delivering a combined capacity of up to approximately 200 megawatts (MW)."

Source Fool.com

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