UBS analyst Damian Karas downgraded General Electric (GE) to Neutral and lowered his price target to $11.50 from $13, saying that a "notable" decline in interest rates and the continued weakness in the power market combine toward a "more balanced" upside with downside. The analyst states however that after the 20% relative year-to-date outperformance in the stock price, General Electric will continue its multi-year turnaround and transformation, with the Power segment becoming increasingly more important to investor sentiment given the concerns around China demand and Siemens' (SIEGY) intended listing of their Gas & Power unit.

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GE has sold Crotonville, its management academy outside New York City, to an entity made up of real-estate investors and family offices for $22M, The Wall Street Journal's Chip Cutter reports, citing people familiar with the matter and the deed of the sale. It will now function as a conference center able to be booked by outside groups, according to the report. GE's decision to sell Crotonville reflects its split into three separate companies. Reference Link