General Electric Co's credit card unit filed for an initial public offering, the first step in the conglomerate's planned exit from the retail finance business.GE announced plans in November to spin off the business that makes credit card loans to consumers into a publicly traded company, which bankers estimated could be worth roughly $16 billion to $18 billion.Through the spinoff, GE hopes to focus on its industrial divisions and better compete with rivals such as Honeywell International Inc and United Technologies Corp, which have smaller financing arms.GE shares rose about 1 percent in trading before the bell on Thursday.
Honeywell International Inc. (Honeywell) is a diversified technology and manufacturing company, serving customers worldwide with aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation. Shares of HON remained unchanged at $93.85. In the past year, the shares have traded as low as $70.92 and as high as $95.91. On average, 2950140 shares of HON exchange hands on a given day and today's volume is recorded at 0.
United Technologies Corporation (UTC) provides high technology products and services to the building systems and aerospace industries worldwide. Shares of UTX remained unchanged at $115.81. In the past year, the shares have traded as low as $90.30 and as high as $118.42. On average, 3398360 shares of UTX exchange hands on a given day and today's volume is recorded at 0.
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