Diamonds and Dogs
General Motors (GM) trading up 4% following earnings. Full-size pickup deliveries soared 27% in the first three months of the year, with the government shutdown only disrupting the last couple weeks of the quarter. GM has suspended their dividend and share-buyback program while boosting their borrowing to amass $33.4 billion of cash that should sustain the company through months of uncertainty. GM also said it hopes to have U.S. and Canadian operations back up-and-running by May 18th.
No sports hurts guidance for Electronic Arts (EA). The video game maker is down 4% after beating earnings estimates even as sales fell 11%. EA went on to lower guidance warning that the disruptions, postponements and or cancellations of sports seasons and sporting events could impact sales of popular sport simulation titles like FIFA and Madden NFL.
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