| GE Continues to Divest; Inks Deals for Railcar Operations | |
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GE decided to trim down GE Capital, the parent unit of its real estate business, after the division’s lack of access to credit during the 2008 financial crisis endangered the stability of the parent company. Wells Fargo is working closely with GE, particularly for certain units of GE Capital’s portfolio that fit perfectly with the bank’s expertise. In fact, Wells Fargo and The Blackstone Group L.P. BX helped the industrial titan to get the ball rolling, by agreeing to buy real estate assets worth about $23 billion. With the latest deals, GE’s announced asset sales have reached $95 billion year-to-date, well ahead of its schedule. In fact, the company raised its 2015 target for GE Capital asset sales from $100 billion to a range of $120 billion to $150 million. By and large, GE’s sales of portfolios or business units have been selling at par or somewhat above par, as they are performing assets and not distressed. Also, there is significant demand for these assets from financial firms that have very few good buying opportunities. GE presently carries a Zacks Rank #3 (Hold). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BERKSHIRE HTH-B (BRK.B): Free Stock Analysis Report BLACKSTONE GRP (BX): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report GENL ELECTRIC (GE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Wells Fargo is a exploration company based in United states of america. Wells Fargo is listed in United States of America. Its market capitalisation is US$ 299.4 billions as of today (€ 279.8 billions). Its stock quote reached its lowest recent point on July 03, 1997 at US$ 10.01, and its highest recent level on April 26, 2024 at US$ 59.91. Wells Fargo has 4 997 319 680 shares outstanding. |