General Electric Company (GE) Stock Could Hit $40 on Baker Hughes Deal
Shares of General Electric Company (NYSE:GE) rose more than 2% in Monday’s shortened trading session after the industrial conglomerate announced that its closed its mega-deal with Houston-based Baker Hughes Inc. (NYSE:BHI). GE stock closed Monday at $27.45 and is down 13.13% year to date, versus a 8% rise in the S&P 500 Index and ranking as the second worst-performing stock on the Dow Jones Industrial Average. Only Verizon Communications Inc. (NYSE:VZ), which has lost 15.7% in the first half of 2017, has performed worse.
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