General Electric (GE) Sees Rare Upside Move
Tweet
Share
E-mail
Get Alerts GE Hot Sheet
Join SI Premium – FREE
Shares of General Electric Co. (NYSE: GE) are jumping 8% today on reports the company's GE Capital unit could be offered funds under the $700 billion TARP. Responding to this speculation, GE said it does not expect the Treasury Department to offer it money.
According to a Reuters report, GE Russell Wilkerson said, "This is not something we expect. If it were offered, we would evaluate it."
General Electric has not been opposed to using government liquidity, as the company recently tapped the Federal Reserve's new Commercial Paper facility. The U.S. government was forced to enter this important short-term funding market as traditional liquidity dried up.
Even with today's rise, shares of GE are down 25% over the past three months.
According to a Reuters report, GE Russell Wilkerson said, "This is not something we expect. If it were offered, we would evaluate it."
General Electric has not been opposed to using government liquidity, as the company recently tapped the Federal Reserve's new Commercial Paper facility. The U.S. government was forced to enter this important short-term funding market as traditional liquidity dried up.
Even with today's rise, shares of GE are down 25% over the past three months.
You May Also Be Interested In
- Paramount Has Weighed Selling Hgtv To Settle Warner Lawsuits - Bloomberg
- SEC Subpoenas Banks For Details On Situational Awareness - NYT
- A ceasefire between Washington and Tehran has been agreed - RIA
Create E-mail Alert Related Categories
Insiders' Blog, Rumors, Trader TalkSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
