Diamonds and Dogs
GM (GM) is up 4% following earnings. General Motors beat Wall Street's consensus third-quarter profit estimate on record revenue and affirmed its guidance for the year thanks to strong sales of its luxury Cadillac SUVs and largest trucks, an indicator that rising interest rates have not yet hit its business. GM also reiterated its plan to accelerate on electric car like the Chevy Bolt.
Tough day for Upstate New York companies. Xerox (XRX) is down 17% while Corning (GLW) is down 3% following disappointing earnings. Xerox missed by 21 cents as sales fell 0.4% while Corning reported in-line earnings, but then lowered guidance due to slowing demand for iphone glass.
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