General Electric Makes Some Big Announcements

General Electric Company’s (NYSE:GE) unit, GE Healthcare (NYSE:XLV) and KC BioMedix, earlier this week, reached an agreement under which GE Healthcare’s Maternal Infant Care division has been granted exclusive rights for distribution and marketing of the KC BioMedic NTrainer pulsatile neurostimulation system.

GE (NYSE:GE) also announced earlier this week that it will distribute 300 megawatts of its latest wind turbine technology (NYSE:FAN) for the Settlers Trail Wind Farm in Iroquois County, Illinois, and the Pioneer Trail Wind Farm in Iroquois and Ford Counties in Illinois.

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GE this week said that it would “vigorously contest” a lawsuit filed by the Federal Housing Finance Agency (FHFA). In its lawsuit, the FHFA alleged that GE’s former WMC unit provided inaccurate statements about the sale of two residential mortgage-backed securities.

GE (NYSE:GE) shares are down sharply in trading today following a sharp decline in the broad market. At last check, GE shares were trading 2.50% lower at $15.20. So far this year, GE shares are down 16.74%.

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