General Electric (GE) saw its stock price surge more than 7% on June 26 after the company said it would dissolve its stake in oil services company Baker Hughes and spin off its healthcare unit over the next few years.

The announcement comes one day after GE said it would sell its Distributed Power business, which includes the company’s Jenbacher and Waukesha engines, to global private investment firm Advent International in a $ 3.25 billion deal.

CEO John Flannery on Tuesday, in an interview with the CNBC program “Squawk on the Street,” said, “I’m a believer” in his company’s turnaround prospects. “I’m very comfortable when we have seen issues along the way, we’ve serviced them, we’ve dealt with them and I think today is another example of that,” he said.

Flannery, who has divested several of the company’s assets since taking over from long-time CEO Jeffrey Immelt last summer, including the company’s electrification unit, said, “We are finished” when asked if more moves were in the offing.…

Read More »