GE's CEO and his stock win a boost after a long dry spell

Immelt unveiled a surprise move to sell off most of GE's finance operations over the next few years, thereby reducing a unit that comprised more than half of the U.S. conglomerate's profits before the 2008 credit crisis down to 10 percent by 2018. GE shares had their best day since March 2009, jumping 10.8 percent in heavy trading to close at $28.51 on the New York Stock Exchange. Immelt has endured criticism for buying businesses at high prices, including a spate of acquisitions in the oil and gas sector ahead of the recent slide in oil prices, and for not moving fast enough to shed GE Capital.



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