General Electric : Industrials Up as Risk Appetite Rebounds -- Industrials Roundup
Shares of manufacturing and transportation companies recouped some of their recent losses amid a revival of investor confidence in risky assets.
General Electric ticked up after the industrial conglomerate said it was cutting 12,000 jobs in its power business, which has suffered from rising costs and an excess of capacity since the acquisition of utility service assets, many of them coal and gas related, from Alstom. Many of the people losing jobs work at former Alstom facilities in France and Switzerland.
-Rob Curran, [email protected]