General Electric is surging

General Electric is surging.

Shares of the company were up by as much as 8% in pre-market trading following news that it’s selling the bulk of its GE Capital assets.

The company will sell most of its real estate portfolio worth around $US26 billion and the company also announced plans to buy back about $US50 billion worth of shares.

Shares closed about 3% higher on Thursday after initial reports that the company was looking to offload some of these assets.

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