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GE stock rallies after tough week as bullish analysts defend airline leasing deal

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Larry Culp, CEO, General Electric

Scott Mlyn | CNBC

General Electric stock surged more than 5% Monday as bullish analysts defended the company’s decision last week to sell its jet-leasing business to rival AerCap and new financial guidance.

On Wednesday, the Boston-based conglomerate announced of the sale of GE Capital Aviation Services, or Gecas, the largest remaining asset of the company’s once-colossal finance arm GE Capital, to AerCap. GE is taking a 46% stake in the combined company and the deal will generate about $24 billion in cash. Once the deal closes in nine to 12 months, GE plans to shift GE Capital’s remaining debt and assets onto the company’s industrial balance sheet.

To…



Source cnbc.com

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