GM Initiates Cadillac Recall, InterOil Gets Offer For Elk Stake, and 3 More Hot Stocks
General Motors (NYSE:GM): Efforts to take the Chinese market by storm and gain an edge over competition has hit some headwinds, as Cadillac China initiates a recall for 2,653 imported SRX crossover models, due to a wheel nut issue. It is not yet apparent if the vehicles affected are solely in China, or if the recall will extend to other regions as well.
InterOil Corporation (NYSE:IOC): Indonesia’s Pertamina has apparently made an offer for a stake in InterOil’s Elk-Antelope field in Papua New Guinea, according to PNG. The Indonesian state-owned company needs to import natural gas to meet existing export commitments, as its own domestic production is declining.
Abercrombie & Fitch (NYSE:ANF): CEO Michael Jeffries is trying to play down the backlash that his company is facing, after an interview with Salon resurfaced and went viral, in which Jeffries stated, “Candidly, we go after the cool kids. We go after the attractive all-American kid with a great attitude and a lot of friends,” he said in the article. “A lot of people don’t belong [in our clothes], and they can’t belong.” The verbal faux pas has sparked protests against the company, and urged Jeffries to issue a statement inclusive of everything but a formal apology.
Chevron Corp. (NYSE:CVX): Ali Moshiri, president of Chevron’s Latin America and African operations, stated that Argentina — not China — is the number 2 prospect for shale oil, due to Argentina’s unique geography. ”The potential in Vaca Muerta [region] is big enough to make Argentina energy independent,” Mr. Moshiri said. For those equipped with basic Spanish, yes, Vaca Meurta does in fact translate to ‘dead cow.’
Celsion Corporation (NASDAQ:CLSN): Shares are on a tear after the company announced that data from a Phase III HEAT study indicates that ThermoDox combined with radio frequency ablation justifies “further investigation and development … as a first line treatment for hepatocellular carcinoma.”