Fed Seeks to Shed More GM Stock, BlackBerry Cancels Earnings Call, and 3 More Hot Stocks

General Motors (NYSE:GM): The Treasury Department has announced that a new round of sales of General Motors stock will begin under a regimented trading plan. The federal government has sold more than 200 million shares of GM stock already, and it is looking to unload the last 101.3 million shares still in its possession. Separately, Chevrolet has unveiled its new line of heavy-duty trucks, which offer a broad range of configurations (more than 150) including three cabs, two cargo bed lengths, numerous trim levels and the choice of single- or dual-rear wheels on the Silverado 3500.


BlackBerry (NASDAQ:BBRY): Though BlackBerry will still release its earnings report on Friday morning as planned, it will not be holding its conference call as planned, due to a letter of intent it signed with Fairfax Financial. Instead, any additional quarterly details will provided in BlackBerry’s MD&A and consolidated financial statements, which the company will file next week.


Barrick Gold Corp. (NYSE:ABX): Chile’s Supreme Court has confirmed the suspension of Barrick Gold’s Pascua-Lama gold mine, which straddles the border with Argentina, although the court has rejected a permanent shutdown of the project, as local indigenous communities were hoping for. Barrick, naturally, is pleased with the outcome of the ruling, as it allows the project to move ahead subject to the completion of the project’s water management system that complies with an environmental permit.


Advanced Micro Devices (NYSE:AMD): AMD has officially revealed its new Hawaii GPU product line, which is based on 28nm architecture and a are a crucial component to AMD’s efforts to regain GPU market share recently lost to Nvidia. Hawaii is able to support AMD’s Mantle API, which it says will allow for “a deeper level of hardware optimization no other graphics card manufacturer can match.”


U.S. Airways (NYSE:LCC): The federal government’s interference in U.S. Airways and AMR Corp.’s (AAMRQ.PK) American Airlines merger has caused quite a stir. Union representatives are now criticizing the government for the block, which could lead to significant job losses. “Lawyers for the two carriers have been asking a federal judge to allow them to see who’s been talking to the DOJ,” Seeking Alpha notes. “The industry as a whole wants the merger to go through so that capacity discipline can be maintained, but it’s a possible there’s a mole in the group.”


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