General Electric Shares Jump Almost 8% on Sale of Finance Unit

General Electric (GE) saw shares rise 8% on Friday as investors cheered the company's latest move to shed its finance division and focus on core competencies. S&P Capital IQ Analyst Jim Corridore told TheStreet's Scott Gamm that the deal will unlock a higher valuation for GE as it moves to become more of an industrials space. 'Industrials companies tend to trade at higher valuations than finance companies,' Corridore said. GE Capital was subject to massive financial regulation and scrutiny, especially after the 2008 crisis. Shares of General Electric are up 10.4% since the start of the year.