GM Keeps the Colorado and Canyon, Microsoft Gets a Boost from Evercore, and 3 More Hot Stocks
General Motors (NYSE:GM): Though the trucks themselves will be getting full redesigns, the Canyon and Colorado nameplates will remain in service, The Associated Press is reporting. The Colorado will be targeted toward people who spend more time outdoors, while the Canyon is aimed at more professional buyers, Chief Financial Officer Dan Ammann said to the publication, noting that the old truck names already have brand equity with customers.
Microsoft Corp. (NASDAQ:MSFT): Microsoft has gotten a boost from Evercore, which has brought the company’s rating from Equal Weight to Overweight with a price target of $38. Evercore analyst Kirk Materne believes that the risk/reward is attractive at current levels and thinks that sentiment is too negative. If Microsoft’s enterprise business continues to gain traction, its consumer business would only need to stabilize in 2014, he said.
Global Ship Lease Inc. (NYSE:GSL): Shares are flat after Global reported earnings per share of 15 cents, beating by 2 cents, while revenue missed slightly at $35.2 million, missing by $0.5 million. The company agreed to new one-year charters for two 4,113 TEU vessels, which opened on May 1 at $7,000 per vessel per day. It also repaid $14.8 million in debt in the period for a total debt repayment of $188.2 million since August 2009.
Time Warner Inc. (NYSE:TWX): Time Warner is maintaining that the postponement of spinning off Time Inc. will give its new CEO Joe Ripp added time to make key hires and give the publishing unit another two quarters to bring down results for its parent after the second quarter saw its revenue dip 3 percent due to lower advertising and subscription sales. The spin-off should be completed by early next year.
Green Mountain Coffee Roasters (NASDAQ:GMCR): Green Mountain pointed to a “drive in leverage” for its better-than-expected bottom line for the third quarter, though shares are down as some subtle language changes in the company’s long-term guidance seems to be making investors nervous. However, the gross margin improved 720 bps to 42.1 percent as favorable green coffee costs and lower labor and manufacturing costs improved the company’s bottom line.