This morning, General Motors announced its second quarter earnings, which saw the giant automaker earn $891 million in Q2 compared to a loss of $3.4 billion last year that had analysts wondering whether the automaker would be around for today's announcement.
GM's performance in the second quarter played out largely like it did for cross-town rival Ford, in that the profitable performance of its overseas operations in Europe, Asia and South America outweighed its losses at home. Major cost cutting also helped the bottom line, and CFO Fritz Henderson is quoted as saying the company is going to keep the "pressure" on. He's likely referring to historic talks with the UAW occurring as we speak that GM hopes will result in lower healthcare bills for the automaker.
GM deserves to stop and smell the roses today, however, as its stock price has been surging all morning, being up as much as 6.0% before the opening bell and hitting a high of $34.65. As of this writing, GM stock is at 33.61, up about 1.00 or 3.07%.
[Source: Bloggingstocks, Automotive News]
GM's performance in the second quarter played out largely like it did for cross-town rival Ford, in that the profitable performance of its overseas operations in Europe, Asia and South America outweighed its losses at home. Major cost cutting also helped the bottom line, and CFO Fritz Henderson is quoted as saying the company is going to keep the "pressure" on. He's likely referring to historic talks with the UAW occurring as we speak that GM hopes will result in lower healthcare bills for the automaker.
GM deserves to stop and smell the roses today, however, as its stock price has been surging all morning, being up as much as 6.0% before the opening bell and hitting a high of $34.65. As of this writing, GM stock is at 33.61, up about 1.00 or 3.07%.
[Source: Bloggingstocks, Automotive News]
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