Diamonds and Dogs
General Electric 's (GE) years-long transformation is taking another huge step forward. GE is up 5% in a down market the company announces the split into three companies: One focused on healthcare, another focused on energy and power, and the third focused on aviation.GE plans to spin off the healthcare business in 2023, and the energy and power business in 2024.
PayPal Holdings (PYPL) reported mixed third-quarter financial results. The stock is down 12% as earnings beat as sales rose 13% to $6.18 billion, but then the company did lower guidance. PayPal did have a big win securing a deal with Amazon to use their Venmo-related payments system going forward.
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