GE flirts with high on major restructuring; Apple Watch pre-orders; Gap falls
Here's a look at some of the stocks the Yahoo Finance team will be tracking for you today
General Electric (GE ) shares are flirting with a new 52-week high this morning. The company announcing a major restructuring plan. GE is getting out of the banking business and will sell nearly all its GE Capital assets over the next two years, including $26.5 billion dollars in real-estate assets to Blackstone (BX) and Wells Fargo (WFC). The company will buy back $50 billion worth of stock with the proceeds.
Apple (AAPL) is also on investors' watch list this morning. The tech giant starts taking pre-orders for its new smart watch today, which is available for preview in Apple stores. However deliveries of the new wearable gadget won't begin until later this month.
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Gap (GPS) shares are lower in early trading. The retailer continued to experience weak same-store sales in its namesake and Banana Republic brands last month. However, overall same-store sales rose a better-than-expected 2% in March as its Old Navy stores continues to do the heavy lifting.
Ruby Tuesday (RT) shares are higher this morning. The casual restaurant chain reporting a better-than-expected fiscal third quarter loss of a penny a share, while revenue was just a slightly below estimates. The company says reduced expenses offset a decline in sales. Ruby Tuesday also plans to begin looking at ways to remodel its restaurants to be more kid and family friendly.