Premarket roundup: General Motors, Wal-Mart
By
Associated Press
November 25, 2008
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Among the premarket stories for Tuesday, Nov. 25, from AP Financial News:
NEW YORK (AP) _ An analyst increased his loss estimate for General Motors Corp., saying the automaker faces reduced profits at home and abroad amid the collapse in vehicle sales.
NEW YORK (AP) _ Amid a deteriorating economic environment, Wal-Mart Stores Inc. is outperforming its rivals due to the world's largest retailer's focus on value as consumers trade down and shop mainly for necessities, an analyst said Tuesday.
NEW YORK (AP) _ November auto sales are down about 32 percent from last year, an analyst predicted Tuesday, as financial market volatility and economic weakness continues to keep consumers away from dealerships.
NEW YORK (AP) _ Higher assessment fees from the Federal Deposit Insurance Corp. could pressure earnings and expenses at banks like Synovus Financial Corp., Hudson City Bancorp Inc. and Astoria Financial Corp., an analyst said Tuesday.
OKLAHOMA CITY (AP) _ Chesapeake Energy has received $1.25 billion in cash, the first payment from a rights sale to Statoil Hydro that gives the Norwegian company access to the massive Marcellus Shale natural gas deposit.