GE, 3M spinoffs join S&P 500, divide investors over valuation

While early trading for spinoffs can be choppy, the divergence casts a measure of doubt on the rationale for separating large corporations into their constituent parts. — Reuters

NEW YORK: Corporate breakups have come back in vogue, but only one of the two blue-chip spinoffs joining the S&P 500 Index this week found favour with investors.

GE Vernova Inc, General Electric’s (GE) clean energy spinoff, has climbed some 19% from the start of early trading to outshine the index’s flat performance.