General Electric Hits 52-Week High As Obama Appoints Immelt (GE)

Shares of General Electric GE are soaring on Friday, after the company reported much better than expected earnings and provided upbeat commentary. The company reported earnings per share of $0.36 compared to analysts' estimates of $0.32. Investors are also cheering the appointment of Chairman and CEO Jeff Immelt as Chairman of the President's Council on Jobs and Competitiveness. GE shares are currently trading up 7.05% to $19.73, a new 52-week high. Volume has been very heavy with more than 138 million shares trading hands compared to a daily average volume of just under 53 million.