Two good news sent up the quotes from General Electric:

The diversified conglomerate General Electric Co. (GE) made two announcements, which became the driver of the growth of quotations by 3.52% to $91.25 at the auction on March 11. The day before the annual shareholders’ meeting, General Electric made two important statements that caused investors to be optimistic.

First, the company stated that the supply of medical equipment and services for critical infrastructure facilities to Russia will continue, despite the new restrictions. Thus, investors do not expect significant losses in this market soon. The second announcement was the news of a major $3 billion buyback program.

So far, the exact timing and number of purchases have not been determined, since the repurchase is only as the possibility of capital allocation. The new buyback program is a positive signal that shows a possible strong financial position of GE. Over the past few years, General Electric has been making significant efforts to reduce costs and improve profitability.

The company has updated the board of directors, and in November last year, GE announced plans to split the business into three separate companies with specializations: aviation, healthcare and production of solutions for energy, including renewable, as well as digital technologies. The separation will facilitate the management of high-tech segments that have not combined, for example, the production of medical equipment and wind farms.

March 14, 2022, the company will hold an investor day and tell about plans for the current year and long-term goals. If investors perceived positively the new strategy, it may become a driver of quotations in the coming sessions.