China is Now GM’s Largest Market, TSM’s Revenue Hike, and 3 More Hot Stocks
General Motors Co. (NYSE:GM): Sales in China have surpassed sales in the U.S. for the first six months of the year, making the most populous country on Earth the largest market for GM, ahead of the United States. While the Buick brand has struggled domestically, it’s been met with great success in China, aided by GM’s portfolio of 12 joint venture projects in the country. Sales topped 1.6 million in China for the period while topping 1.4 million stateside.
Taiwan Semiconductor Manufacturing (NYSE:TSM): Revenues for the company experienced a 24 percent leap year-over-year for a record of 54.03 billion New Taiwan dollars, or $1.77 billion. Analysts surmise that the impressive swell was due to strong demand for chips for smartphones and tablets. Revenues for the first half of the year rose 23.5 percent to 288.64 billion New Taiwan dollars.
Boeing Co. (NYSE:BA): While the flurry of speculation settles over the crash of the 777 jet operated by Asiana Airlines, it seems that Boeing may not be scot-free after all — an inquiry suggests that mechanical failure may have in fact been a factor. Investigators found the auto-throttle switches set to the “armed” position, meaning that the auto-throttle could have been engaged depending on various other settings.
Inovio Pharmaceuticals (AMEX:INO): News that the company’s Cellectra device for administering its Pennvax-B HIV vaccine improved the effectiveness of the drug in Phase I testing has launched shares above 22 percent. Data published in the Journal of Infectious Diseases showed that with the Cellectra, Pennvax significantly increased the number of responders, producing robust and durable CD4 and CD8 T-cell responses, which are considered critical to fighting cancers and chronic infectious diseases.
Applied Materials (NASDAQ:AMAT): A round of analyst approvals helped lift Applied shares Wednesday morning following upbeat analyst day forecasts. Piper Jaffray is eying the major incremental revenue opportunities related to chip equipment technologies like epitaxial SiGe and metal deposition, adding that the company expects its display equipment sales to rise to about $1 billion in 2016 from its current $550 million.