Friday, July 13, 2007

GE profit up 9.6 percent, to sell subprime unit

(Reuters) - Those businesses overshadowed weakness at the company's loss-making WMC Mortgage subprime lending unit, which is being put on the block.




"They had a very solid quarter, all the drivers for GE of late definitely came through," said Perry Adams, senior portfolio manager at Huntington Private Financial Group, of Traverse City, Michigan, which manages about $12 billion in asset and holds GE shares.


Read more at Reuters.com Business News

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