Markets Finally Open, GM Earnings, Generac Surges: Afternoon Buzzers

It’s Wednesday, and the U.S. equity markets are open for the first time this week, and the last time this month. Mickey Mouse Darth Vader

In what is sure to generate a modicum of fan-based outrage, Disney (NYSE:DIS) will buy Lucasfilm Ltd. for $4.05 billion. Lucas, of course, is the force behind “Star Wars” and “Indiana Jones,” and the two franchises will be passed along with the company. Disney, for its part, has said there will be a new series of “Star Wars” movies starting in 2015. Shares of Disney are trading down 1.49 percent Wednesday.

General Motors (NYSE:GM) posted third-quarter 2012 earnings that came in at $0.85 per share, beating estimates by $0.25. Revenue did drop by 2.4 percent year over year to $37.6 billion, but still beat estimates by $1.9 billion. Shares climbed as much as 9.24 percent this noon.

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GM joins Ford (NYSE:F) in celebrating a strong quarter despite losses in the European market. Ford is up as much as 6.30 percent.

Generac (NYSE:GNRC), the manufacturer of power generators, surged as much as 20.31 percent Wednesday because of hurricane Sandy and strong third-quarter 2012 earnings. Revenue was up 25.6 percent year over year to $300.5 million, while earnings per share came in at $0.78, beating estimates by $0.07. Highlights include a 48.3 percent jump in commercial and industrial product sales.

Dow Chemical (NYSE:DOW) posted earnings last week that showed a 10 percent year over year revenue drop. The company has filed a 10-Q saying it will post a fourth-quarter charge of $900 million to $1.1 billion related to a restructuring program that could close 20 facilities and cut 2,400 positions, or 5 percent of its workforce.

The list of flights cancelled due to hurricane Sandy tops 18,000, according to and airlines are down Wednesday, with Delta Air Lines (NYSE:DAL) dropped 0.15 percent while US Airways Group (NYSE:LCC) gained 0.50 percent.

Home Depot (NYSE:HD) trekked as much as 2.47 percent higher as a post-hurricane sales boost is expected. Insurance company Travelers Cos. (NYSE:TRV) dropped as much as 1.52 percent this noon.

Investors will be taking Tuesday’s positive home price numbers into consideration and looking forward to the non-farm payroll report on Friday as they position themselves for the presidential election on November 6.

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