General Electric Co. said it will shut down its corporate jet fleet Wednesday in a cost-cutting move, according to a report from The Wall Street Journal, which cited a person familiar with the situation. The industrial conglomerate, which has seen its stock underperform its peers and the broader market by wide margins this year, will still operate some helicopters, other aircraft overseas and will use charter services as needed, the WSJ report said. GE’s stock gained 0.6% in morning trade. It has advanced 2.6% since closing at a 2-year low of $23.72 on Sept. 11, was still down 22.9% this year, to pace the year-to-date decliners in the Dow Jones Industrial Average by a wide margin. The SPDR Industrial Select Sector ETF has rallied 13.0% year to date, while the Dow has climbed 13.3%.
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