GM Gives Opel an Overhaul, GameStop’s Strong Quarter, and 2 More Hot Stocks
General Motors (NYSE:GM): General Motors is applying the same approach that it’s given its Cadillac line to Opel, its European brand that has been dealt some substantial losses that threatened to shut the unit down. The company is beginning production of a revamped Insignia, its most expensive model in the lineup, this week. The Insignia is the eighth car in the Opel lineup that has been updated.
GameStop Corp. (NYSE:GME): GameStop shares are up nearly 12 percent as earnings per share of 9 cents beat estimates by 5 cents, and revenue of $1.38 billion beat by $0.03 billion. Mobile sales (+124 percent) and digital sales (+17 percent) performed admirably, though software and hardware sales declined. Executives with the company believe that the firm’s strong gains in market share and a new console cycle have positioned the company well for a strong second half of the year.
Peabody Energy Corp. (NYSE:BTU): Peabody chose mining executive Glenn Kellow to be its president and chief operating officer Wednesday evening. He will be responsible for all aspects of the company’s global operations including safety, production, sales-marketing, environmental, productivity improvement, engineering, and planning.
CBS Corp. (NYSE:CBS): The broadcasting company has extended a carriage agreement with Verizon (NYSE:VZ) for another three years, which will see a growth of coverage of CBS Sports on Verizon’s FiOS bundled service. No financial terms were disclosed, and a separate contract covers Showtime Networks and Smithsonian programming, Seeking Alpha reports