The first stage of the break up of General Electric Co. GE has been completed, as GE HealthCare Technologies Inc. GEHC has been officially separated and will begin trading Wednesday as an independent company. GE HealthCare’s stock will start trading on the Nasdaq on Tuesday, as a component of the S&P 500 index SPX, while GE’s stock will remain on the New York Stock Exchange. GE’s stock rallied 2.1% in premarket trading Wednesday, while GE HealthCare shares were indicated up more than 4%. With the separation, GE shareholders received one share of GE HealthCare for every three GE shares they owned. GE retained about a 19.9% stake in GE HealthCare. “The successful spin-off of GE HealthCare marks a pivotal moment in our transformation into three independent companies focused on critical, growing sectors,” said GE Chief Executive Lawrence Culp. GE said it remains on track to spin off GE Aerospace and GE Vernova as independent companies in early 2024. GE’s stock has rallied 25.8% over the past three months through Tuesday, while the S&P 500 has tacked on 0.9%.
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