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General Motors (NYSE:GM) news includes a new use for a facility in England, and CEO Akerson’s plans for a better position for his company’s stock. The Vauxhall plant in the north of England has been selected for manufacture of a line of GM’s next-generation Astra cars, the choice of which is a nod towards politicians there who worked tirelessly advocating it. Also reported is that Dan Akerson is fairly confident that GM shares might make a symbolically-important return to investment grade within 12 months. Vince Foley as Barclay Capital concurs, as he comments that few high-yield companies posses $31.5 billion in net cash.
Investing Insights: This Delta News is Dragging Air Carriers Lower.
Delta Air Lines (NYSE:DAL) shares slide all day on the carrier’s executive Ed Bastian’s announced intentions to reduce capacity in a range of 3 to 4 percent on its Atlantic and Pacific routes, even though indications of strong summer demand persist.
Intense rivalry and reduced sector profits are taking their toll on online travel stocks such as Expedia (NASDAQ:EXPE), Orbitz Worldwide (NYSE:OWW), Priceline.com (NASDAQ:PCLN), and Tripadvisor (TRIP), which are all currently below market indexes. However, Ctrip.com (NASDAQ:CTRP) shares received a pair of analyst upgrades, and are soaring while the others are plainly not.
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