Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter @TomiKilgore.
General Electric Co. GE, +0.58% provided Tuesday details of the planned spinoff of its GE Vernova business and the launch of GE Aerospace, which is expected to occur at the beginning of the second quarter of 2024. The aerospace, power and renewable energy company’s stock shot up 6.6% toward a one-month high in premarket trading, as the company also reported third-quarter profit and revenue that beat expectations by a wide margin and raised its full-year outlook.
at the start of 2023. The stock has slipped 3.2% over the past three months through Monday, while the S&P 500 SPX, -0.17% has lost 7.4%.
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