REFILE-US STOCKS-Wall St set to climb at open, buoyed by GE divestment plan
(Adds subscriber code)
* GE to set up $50 bln stock buyback plan
* Import prices decline, in line with expectations
* Futures: Dow up 27 pts, S&P up 2 pts, Nasdaq off 0.5 pts
By Tanya Agrawal
April 10 (Reuters) - U.S. stocks were poised to edge up at the open on Friday as investors lauded GE's decision to divest the bulk of its high-risk GE Capital business.
General Electric jumped about 7 percent in premarket trading and about 27 million shares exchanged hands, the most active stock on the New York Stock Exchange, after the company said there was potential to return more than $90 billion to investors through 2018.
"I expect buybacks to continue because a lot of major stocks, including Apple, are undervalued," Adam Sarhan, chief executive of Sarhan Capital in New York.
GE will sell its $30 billion real estate portfolio over the next two years, with Blackstone and Wells Fargo, snapping up most of its assets. Blackstone shares were up 1.9 percent in premarket trading. Continuación...