On Wednesday, Shares of General Electric Company (NYSE:GE), lost -1.00% to $27.59. 39.10 million shares of the company were exchanged.
GE (GE) declared that Synchrony Financial has received approval from the Federal Reserve Board to become a standalone savings and loan holding company and to retain control of Synchrony Bank, following the completion of GE’s projected Exchange Offer. This approval represents another major milestone in the planned separation of Synchrony Financial from GE.
As formerly declared, the separation of Synchrony is comprising with GE’s stated strategy of focusing on its high-return industrial businesses and reducing the size of GE’s financial businesses. GE believes that the split off is an important step in providing Synchrony with the ability to pursue its long-term strategy as a fully independent, standalone public company. GE will talk about details of the projected Exchange Offer on its earnings call Friday, October 16, 2015 at 8:30 a.m. Eastern time.
General Electric Company operates as an infrastructure and financial services company worldwide. The company’s Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment.
Shares of Corning Incorporated (NYSE:GLW), inclined 0.68% to $17.00, during its last trading session.
In the last trading session, the stock moved on high volume, trading at a volume of 15.35 M as compared to its average daily volume of 10.45 million shares.
The Board of Directors of Corning Incorporated (GLW) declared a quarterly dividend on the company`s common stock of $0.12 per share, payable on Dec. 11, 2015, to holders of record on Nov. 13, 2015.
Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials worldwide. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences.
At the end of Wednesday’s trade, Shares of Exelon Corporation (NYSE:EXC), declined -0.65% to $30.39.
Pepco Holdings Inc. and Exelon Corporation (EXC) declared they have reached a settlement with the Government of the District of Columbia and others on the companies’ projected merger that will deliver substantially improved benefits to consumers and businesses in the District. The settlement package was specifically shaped to address the concerns articulated by the District of Columbia Public Service Commission (PSC) in its August order.
The new package of benefits comprises commitments to provide bill credits, low-income assistance, fewer and shorter outages, a cleaner and greener D.C., and investment in local jobs and the local economy. Pepco Holdings and Exelon presented the settlement agreement to the PSC for approval as part of the existing merger proceeding.
Also signing on to the settlement agreement are the Office of the People’s Counsel and the Office of the Attorney General of the District of Columbia, in addition to the Apartment and Office Building Association of Metropolitan Washington, the District of Columbia Water and Sewer Authority, the National Consumer Law Center and the National Housing Trust.
Exelon Corporation, a utility services holding company, engages in the energy generation and delivery businesses in the United States. It owns electric generating facilities, such as nuclear, fossil, and hydroelectric generation facilities, in addition to wind and solar photovoltaic facilities.
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