Analysis-Investors hope GE spinoff will defy poor track record of breakupsNEW YORK - As General Electric completes its $191.9 billion breakup, bullish investors are betting it will defy the lackluster share price performance that has followed many corporate spinoffs over the last few decades.On Tuesday, the company’s energy spinoff - whose businesses include wind turbine production and powering data centers - began trading under the name of GE Vernova.
Whether GE’s latest spinoff will meet a similar fate remains to be seen. GE in 2021 said it would split into three companies focused on aerospace, healthcare and energy, part of CEO Larry Culp’s plan to unlock value and make capital allocation more transparent to investors.Its healthcare business, GE HealthCare Technologies, was spun off in January 2023 and has so far bucked the broader trend.
"Aerospace was a better known entity and its growth outlook better understood, but I think Vernova has been more recently discovered by the investment community and that's what has been behind the pop in the stock this year," said Adams, who plans to be a shareholder in both companies. "The aviation business is humming along on all cylinders," said Tentarelli, who owns GE and plans on holding onto his Vernova shares.
Ballard's growing focus on the United States is in contrast to its increasingly cautious approach to expansion in China.
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Fonte: CBCNews - 🏆 2. / 99 Consulte Mais informação »