Both General Motors (NYSE:GM) and Ford (NYSE:F) managed to post healthy growth in sales in China during July, despite an overall environment of slowing growth in auto sales in the country. GM sales were up 15.1 percent, while Ford’s rose 32 percent.
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Gross margins fall 170 bps to 39 percent at retailer Kohl’s (NYSE:KSS) who downshifts guidance for full year EPS to $4.50-$4.65 from the previous estimate of $4.75.
Morgan Stanley (NYSE:MS) is re-engineering slow activity in its bond and interest-rate trading operations by introducing computerized trading that would replace human traders, expecting that in the future, these instruments would be traded similar to stocks.
PepsiCo (NYSE:PEP) addresses Myanmar’s currently untapped market by entering a distribution agreement for its beverage brands with Diamond Star. Pepsi believes Myanmar has excellent potential and intends to seek opportunities for agricultural development projects in the country.
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