GM Better Than Expected?
Calyon, a research and banking arm of Credit Agricole, believes that GM only burned through $500 million in cash in its automotive operations in Q4. That would be better than most Wall St. expectations. If Calyon is right, GM’s (GM)…
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Calyon, a research and banking arm of Credit Agricole, believes that GM only burned through $500 million in cash in its automotive operations in Q4. That would be better than most Wall St. expectations.
If Calyon is right, GM’s (GM) stock could be in for another ride up. After big gains in 2006, the shares are up 11% so far this year, compared to the Dow, which is flat.
Banc of American downgraded GM’s shares early in January from "neutral" to "sell".
That may end up being an embarrassing move.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.