GM’s China Sales Climb 14.3% and 3 Hot Stocks to Track
Walgreen’s (NYSE:WAG) October sales fell 2.1% to $6 billion, impacted by Hurricane Sandy, as well as the company’s strategy decision to avoid unprofitable promotions in order to boost margins. The company reports that almost 750 stores out of the 1,400 stores in the storm area were closed during the hurricane.
Campbell Soup (NYSE:CPB) announces a partnership with CH4 Biogas that will set up Ohio’s first commercial biogas power plant to generate renewable electricity. The plant would use the wastes generated by Campbell soup, waste recyclers, and from local dairy farms to produce methane that can run electricity-producing turbines. The arrangement allows Campbell to save on electricity costs as well as improve its recycling rate to about 95%.
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Strong sales of its Ford Focus model helped Ford (NYSE:F) grow sales in China by 48% on an annualized basis to 60,518 vehicles, though the company may have been benefited by an anti-Japan backlash triggered by a territorial dispute.
General Motors’ (NYSE:GM) sales in China during October climbed 14.3% year-on-year as its Chinese arm sold over 251,000 vehicles, with the economically priced Baojun brand itself selling over 100,000 units.