GM Faces Supply Issues, Siemens to Slash Headcount, and 3 More Hot Stocks
General Motors Co. (NYSE:GM): Though the auto market has proven to be incredibly strong this year, GM still hasn’t been able to gauge the demand for its vehicles — its V8-equipped pickups, to be specific. The Chevy Silverado and GMC Sierra have been flying off the showroom shelves faster than GM can produce them, and the company is now facing production constraints due to a supplier’s ability to make certain drivetrain parts for the 5.3-liter V-8 engine, the most popular powertrain choice.
Siemens AG (NYSE:SI): Siemens is planning to cut out 15,000 jobs over the next year, in line with its 6 billion euro cost-savings program. About a third of the headcount reduction will be focused in Germany. Reports note that Siemens has reached a deal with unions for around half the cuts, and the company is expecting an agreement over the remaining half.
Blackstone Group (NYSE:BX): Reuters is reporting that Blackstone is engaged in talks to sell out of a New Delhi property investment for about $40 million, marking what would be Blackstone’s first exit from a property investment in India. A $40 million sale would generate a return of about 2.5 times on the investment, as Blackstone paid 1 billion rupees for the stake in March 2007.
Colgate-Palmolive Co. (NYSE:CL): Morgan Stanley has brought Colgate-Palmolive to Overweight from Equal Weight, as it sees Colgate improving organic sales at a rate above the existing consensus estimates.
Coca-Cola Co. (NYSE:KO): Coca-Cola has been overtaken by Apple (NASDAQ:AAPL) and Google (NASDAQ:GOOG) as the world’s most valuable brand, according to a report from Interbrand. That’s a drop from first place to third, putting an unceremonious end to Coke’s 13-year reign on top of the charts.