Shares of industrial and transportation companies fell as a rotation from the technology sector into "value" sectors reversed itself.
In the latest sign of Chief Executive Lawrence Culp's effort to reinvent the sprawling company, General Electric is disbanding its Corporate Audit Staff program, a rigorous multiyear rotation through various divisions that the conglomerate has long used to groom future leaders.
Eaton shares ticked down, even after analysts at brokerage Bank of America boosted their price target on the maker of electrical equipment, saying it could benefit from a Biden administration push into green energy.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-11-20 1630ET
