GM’s Peugeot Situation, Navidea Initiates Phase III Trials, and 3 More Hot Stocks
General Motors (NYSE:GM): The family that is in control of PSA Peugeot Citroen has signaled that it might be willing to relinquish its control of the company to General Motors, if a combination with GM’s Opel unit could be worked out. GM said last week that it would not put more money into Peugeot, but it could be swayed if the automaker has the power to make broad capacity cuts.
Navidea Biopharmaceuticals (NYSE:NAVB): On the heels of its procurement of millions of dollars’ worth of financing, Navidea has enrolled the first subject in a Phase III trial for its NAV4694 imaging agent, which is designed to identify whether patients have Alzheimer’s disease which can only be confirmed post-mortem.
Procter & Gamble Co. (NYSE:PG): The consumer goods giant has committed to converting at least 20 percent of its outsourced truck load shipments to natural gas vehicles within the next two years, beginning in July. The company will be working with eight transportation carriers to initiate the changes.
DirecTV (NASDAQ:DTV): Shares have recovered slightly from a premarket drop after the company revealed that its unit in Latin America reported subscribers numbers which were boosted higher by artificial means. The company said that employees of its Sky Brasil business used unapproved subscriber retention practices which artificially reduced churn rates, and the number of Sky Brasil subscribers at the end of the year should have been 100,000 lower than released originally.
ConocoPhillips (NYSE:COP): Freeport LNG, led by ConocoPhillips, is seeking the financing necessary for the construction on its $11 billion natural gas export facility in Texas, due to begin next year. Within six years, the facility is scheduled to ship 2.1 billion cubic feet per day of natural gas. CEO Michael Smith reveals that the financing will have equity and debt components.
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