GM Records Strong Chinese Sales, Tyson’s Strong Quarterly Performance, and 3 More Hot Stocks
General Motors Co. (NYSE:GM): GM’s sales in China grew 11 percent in July thanks to a strong performance from the Buick brand, with gains that come after a 10.6 percent gain in June. Buick deliveries jumped 26 percent to 66,208 units, largely on the popularity of the Excelle line, while Cadillac sales surged 83 percent to 3,688. Chevrolet faltered, though, sliding 3.4 percent to 43,343. The company remains on track to nail its 3 million unit goal for the year in China.
Tyson Foods Inc. (NYSE:TSN): Solid beats on both fronts — earnings per share of 69 cents, beating by 10 cents, and revenue of $8.73 billion, beating by $0.08 billion — have fueled a nearly 4 percent gain for shares, with consistent growth across all segments and strong demand offering Tyson a substantial quarter as protein prices cycled higher. The company expects to see $34.5 billion in sales for the year, and recorded an operating margin of 7 percent in its chicken segment and 3.1 percent for beef.
Dreamworks Animation SKG Inc. (NASDAQ:DWA): Dreamworks announced its plans to offer $300 million in unsecured senior notes, to be due in 2020. The company will use the resulting income to pay off outstanding higher interest rate loans under its revolving credit facility.
Comcast (NASDAQ:CMCSA): Rumors that the U.S. may boycott the 2014 Sochi Olympics in Russia as a result of strained Russian-U.S. relations appear to be overblown, according to analysts. That’s good news for Comcast, which has already sunk $775 million into purchasing the rights via its NBC wing for the Winter Games and has a highly vested interest in seeing the U.S. compete.
Canadian Solar Inc. (NASDAQ:CSIQ): Shares are on an 8 percent tear in the wake of the news that the company will be selling off five utility-scale solar power plants in Ontario, totaling 49 megawatts valued at about 290 million Canadian dollars ($277 million), to Concord Green Energy. Canadian Solar will provide turnkey engineering, procurement and construction services to complete the projects, and will provide operations and maintenance services after completion, Seeking Alpha reports.