Powered by Minyanville: GE Cuts Out Appliances
May 15, 2008- According to the Wall Street Journal, General Electric (GE) is considering shedding its appliance unit, a business the company first entered into in 1907. Milestones such as the refrigerator, air-conditioning units, and toaster ovens helped make GE a household name. Now, the company has hired Goldman Sachs (GS) to run an auction because the appliance business may not expand enough to help the company reach its targets. The sale may fetch between $5 to $8 bln. For a branding primer
From the Bull Pen
Those bullish on GE can set sell-stops below $31.55. Other plays in the sector could include Honeywell (HON); sell-stops below $58.
$33.01 (04/30/08)
