Followers | 679 |
Posts | 141047 |
Boards Moderated | 36 |
Alias Born | 03/10/2004 |
Wednesday, December 28, 2022 6:55:26 PM
By: Morningstar | December 28, 2022
GE spinoff will replace Vornado Realty Trust in the index when it begins trading Jan. 4
GE Healthcare Technologies Inc. will be an S&P 500 stock as soon as it officially exists.
General Electric Co. (GE) expects to spin off its healthcare arm into a separately traded company on Jan. 4, and S&P Dow Jones Indices announced Wednesday afternoon that the new company will be included in the S&P 500 as of that day. The new stock will replace Vornado Realty Trust (VNO), which will move down to the S&P Midcap 400, S&P Dow Jones Indices announced.
GE shares were unchanged in after-hours trading following the announcement Wednesday, while Vornado shares slipped about 0.4%.
GE announced plans to split the company into three separate entities in November 2021, with the creation of GE Healthcare the first step toward that goal. The split is expected to happen after the close of trading on Jan. 3, with GE investors receiving one share of GE Healthcare for every three shares of GE they own.
After spinning off the healthcare unit, GE executives expect to create another new company that combines the GE Renewable Energy, GE Power and GE Digital units in 2024. The remaining entity will be focused on aviation.
GE Healthcare had revenue of $13.4 billion in the first nine months of the year, down from $17.59 billion in the same period of 2021, but profit increased to $1.31 billion from $1.16 billion in the comparable year-ago period, according to figures GE released earlier this month. The new stock is expected to trade under the ticker symbol GEHC.
GE has fallen 14% in the past 12 months, as investors await the split. That is a better performance than a 20% decline in that time for the S&P 500, but worse than an 8.7% drop by the Dow Jones Industrial Average , which removed GE as a component in 2018 after 111 consecutive years as a member of the blue-chip index.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent GE News
- U.S. Index Futures Rise in Pre-Market, Oil Prices Dip Slightly • IH Market News • 04/23/2024 11:26:41 AM
- Costco Increases Dividend by 14%, Meta Introduces ‘Artemis’ AI Chip, and More News • IH Market News • 04/11/2024 11:24:54 AM
- GE Aerospace Board of Directors Authorizes Regular Quarterly Dividend • Business Wire • 04/05/2024 04:02:00 PM
- Cal-Maine Surges on Strong Quarterly Performance, Taiwan Earthquake Disrupts Tech Supply Chain, and More • IH Market News • 04/03/2024 11:12:20 AM
- GE Aerospace Launches as Independent, Investment-Grade Public Company Following Completion of GE Vernova Spin-Off • Business Wire • 04/02/2024 10:33:00 AM
- Walgreens Slashes Annual Profit Forecast; MillerKnoll Nosedives 17% on Bleak 4Q Outlook, and Latest News • IH Market News • 03/28/2024 01:48:04 PM
- GE Vernova and Solventum Set to Join S&P 500; Dentsply Sirona to Join S&P MidCap 400; Others to Join S&P SmallCap 600 • PR Newswire (US) • 03/27/2024 10:12:00 PM
- Apple & Google in Talks for Gemini AI on iPhone, Nvidia’s GTC Conference Today, and Latest News • IH Market News • 03/18/2024 11:10:46 AM
- Intel Loses Pentagon Funding, Shell Plans 20% Business Team Reduction, and Latest News • IH Market News • 03/13/2024 11:02:03 AM
- Sam Altman Rejoins OpenAI Board; Coinbase, MicroStrategy Surge Pre-Market Amidst Bitcoin’s Latest Milestone • IH Market News • 03/11/2024 10:39:03 AM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 10:01:02 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/07/2024 11:20:28 AM
- GE Aerospace Hosts 2024 Investor Day • Business Wire • 03/07/2024 11:15:00 AM
- GE Vernova Hosts 2024 Investor Day • Business Wire • 03/06/2024 11:15:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:29:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:28:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:27:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:25:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:24:06 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:22:42 PM
- Futures Pointing To Continued Weakness On Wall Street • IH Market News • 03/05/2024 02:03:27 PM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 02/29/2024 09:56:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/29/2024 09:54:55 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/29/2024 09:54:09 PM
- GE Board of Directors Approves Spin-Off of GE Vernova; GE Vernova and GE Aerospace to Launch April 2, 2024 • Business Wire • 02/29/2024 09:51:00 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM