Why General Motors Stock Is Up Today
Shares of General Motors (NYSE: GM) were moving higher on Wednesday after GM reported a first-quarter profit that beat estimates and said it will reopen some of its factories in the U.S. and Canada on May 18.
As of 12:15 p.m. EDT, GM's shares were up about 5% from Tuesday's closing price.
GM reported earnings before the market opened on Wednesday, and under the circumstances they were quite good. In a quarter in which both of its Detroit rivals reported losses, GM had net income of $294 million -- or $0.62 per share on an adjusted basis.
Source Fool.com
