General Electric Aims to Stimulate the U.S. Economy

General Electric (NYSE:GE) has announced plans to hire more than 5,000 U.S. military veterans over the next five years and to spend $580 million to expand its aviation business.

General Electric, the world’s largest manufacturer of jet engines, intends to open three new plants in Ellisville, Mississippi; Auburn, Alabama, and Dayton, Ohio.

The jobs announcement was made prior to a meeting General Electric convened in Washington today to focus on strategies to boost economic growth.

“We should have the confidence to act and to restore American competitiveness,” Chief Executive Jeff Immelt, a top adviser on jobs and the economy to President Barack Obama, said in a statement.

Also speaking at the four-day conference this week in Washington will be Boeing (NYSE:BA) CEO James McNerney and Dow Chemical CEO Andrew Liveris.

Here’s how these stocks are trading now:

General Electric Co. (NYSE:GE): GE shares recently traded at $19.04, up $0.16, or 0.85%. They have traded in a 52-week range of $14.02 to $21.65. Volume today was 13,879,906 shares versus a 3-month average volume of 59,342,700 shares. The company’s trailing P/E is 15.38, while trailing earnings are $1.24 per share.

Boeing Co. (NYSE:BA): BA shares recently traded at $74.87, down $0.08, or 0.11%. They have traded in a 52-week range of $56.01 to $80.65. Volume today was 1,041,379 shares versus a 3-month average volume of 5,272,500 shares. The company’s trailing P/E is 14.01, while trailing earnings are $5.34 per share.

To contact the reporter on this story: Alex Capel at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com