GE may not break up completely, but could announce spinoff

Published Thu, Jun 21 201810:35 AM EDTUpdated Thu, Jun 21 201811:43 AM EDT

A monitor displays General Electric signage on the floor of the New York Stock Exchange.

Michael Nagle | Bloomberg | Getty Images

Key Points

Shares of GE fell Thursday morning after CNBC's David Faber reported it was expected to make a significant announcement about its future by the end of the second quarter.
That announcement might not be a full breakup, as some have anticipated.

An employee prepares a composite engine case component for inspection at the GE Aviation manufacturing facility in Batesville, Mississippi.

Daniel Acker | Bloomberg | Getty Images

General Electric may not break up entirely, but it is heading toward a significant announcement about its future at the end of this month, CNBC's David Faber said Thursday.

The company's announcement about its plans for the future has been widely anticipated. "I think we can expect to see GE make some kind of significant statement about the future of the company by the end of the second quarter, as they said they would," Faber said on "Squawk on the Street."

Shares of GE are about to be removed from the Dow Jones industrial average, where they have been a fixture since 1907 and even before that, as an original component. The stock was down 1.6 percent in early trading on Thursday.

Faber said it might not be a full breakup "as some had anticipated." But it will be a "significant announcement around reorganization of the company, including potentially something being spun."