GM’s Stellar August, Tesla Falters, and 3 More Hot Stocks
General Motors (NYSE:GM): GM is coming off the best month the company has had since 2008 — sales rose 14.7 percent over the same period last year. Crossover sales grew 34 percent, full-size pickups saw 15 percent gains, large SUVs rose an impressive 29 percent, and passenger cars swelled 8 percent for increases across the board. The Chevrolet Volt, Chevrolet Spark, Chevrolet Sonic, Cadillac XTS, and Buick Verano all set respective sales records.
Tesla Motors (NASDAQ:TSLA): Despite a strong performance from the Chevy Volt in August, Tesla shares are trading down. “The EV segment has become so promotional,” Seeking Alpha points out, ”that it’s a bit tricky to equate the sales leap to underlying demand.” Indeed, Tesla has been the only holdout to not pare back its pricing, though this has not historically shown to be detrimental to the appetite for the premium car company’s products.
Sony Corp. (NYSE:SNE): Pictures of the QX10 and QX100 “lens camera” accessories have surfaced online. The lenses are able to turn ordinary smartphones into high-end imaging devices. The QX10 will cost in the neighborhood of $250 and feature an 18-megapixel, 1/2.3-inch sensor; the QX100 will fall closer to $450 and boast 20 megapixels and a 1-inch sensor with Carl Zeiss optics and a larger aperture.
United Technologies (NYSE:UTX): United’s Pratt & Whitney engine division will be bidding farewell to President David Hess, who is stepping down come January; he will be replaced by Paul Adams. Hess is a 34-year veteran of United and has been Pratt’s president since 2009. Adams is currently the chief operating officer at Pratt and joined United Technologies in 1999.
Alliant Energy (NYSE:LNT) Alliant is selling its Minnesota electric and natural gas distribution businesses for $128 million, with the former being sold to the Southern Minnesota Energy Cooperative and the natural gas unit to Minnesota Energy Resources Corp. Alliant will continue to operate its power plants in Minnesota and sell power to the Southern Minnesota Energy Cooperative under a long-term agreement, JSOnline reports.