GM Shies From PSA Investment, Boeing Hits Snag On United Flight, and 3 More Hot Stocks
General Motors (NYSE:GM): GM has said that it has no further plans to invest more money in PSA Peugeot Citroen, with which the company shares costs to jointly manufacture cars in Europe. Peugeot Citroen has lost substantial amounts of money in the flailing European automotive market, amounting to $6.74 billion in 2012. ”We don’t have any intentions of investing additional funds into PSA at this time,” said GM Chairman and Chief Executive Dan Akerson on the sidelines of an event in Shanghai. “If we see something change, we’ll evaluate that. But right now we have a joint purchasing endeavor that is going to yield significant saving for us, and we are sharing platforms at three different architectures,” he said.
Boeing Co. (NYSE:BA): Another bout of turbulence for Boeing’s 787 — this time, on one of United’s (NYSE:UAL) flights from Tokyo to Denver, which was forced to make an unscheduled stop in Seattle, due to an apparent oil filter issue. Boeing is likely breathing a huge sigh of relief since it’s not related to the battery issues, but it’s yet another problem the plane has faced since resuming service.
Facebook (NASDAQ:FB): Reportedly, Facebook CEO Mark Zuckerberg asked Samsung (SSNLF.PK) for a Facebook phone while visiting in Korea, although it seems Samsung isn’t as enthusiastic about it. ”Samsung doesn’t want to help nurture a second Google,” a source said, adding that Google (NASDAQ:GOOG) is now a formidable rival for Samsung in the handset business. Facebook also lacks the “kind of premium image that Samsung is seeking to carve out,” the Korea Herald adds.
Verizon (NYSE:VZ): Verizon is exploring the idea of purchasing Canada’s Wind Mobile, as the company has been engaging in exploratory talks with the carrier to the north. Wind Mobile is “one of many” options under consideration, Bob Varettoni, a spokesman for Verizon, said on Wednesday in an e-mail. “We constantly evaluate a wide variety of business opportunities.” VimpelCom (NYSE:VIP), Wind’s largest owner, wants around $500 million, although Verizon may then have to pump in another $1-2 billion for spectrum purchases, network upgrades and consolidation costs.
Don’t Miss: Cadillac From the Future Pays Jay Leno a Visit.