According to an RTT News report, General Electric shares opened sharply higher Friday and climbed during the first half hour of trade. The stock extended its gains in the final 90 minutes of trade and closed up by 2.78 at $28.51 on the highest volume of the year. GE soared past resistance and finished at its highest level since September of 2008.
General Electric announced that it decided to reduce the size of its financial businesses and sell most assets of GE Capital for about $26.5 billion.
The GE Board has also authorized a new repurchase program of up to $50 billion in common stock, excluding the Synchrony exchange.
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