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Monday, July 25, 2011

TAKEOVERCHATTER-GM earnings, UAW talks loom as US reviews exit, (NYSE: GM)

General Motors Co (GM.N) is set to cruise through a series of headwinds over the next few months that may determine whether the U.S. Treasury begins cutting its stake in the top U.S. automaker in September or even later. Weak stock markets, concerns about a debt crisis in Europe and the United States and a rising inventory of unsold trucks have dragged down GM's shares about 10 percent below their initial public offering price of $33, making the timing of the government's exit a big unknown. Treasury currently does not intend to sell GM shares before Labor Day in September, with global economic concerns unlikely to be resolved soon and with Wall Street activity in August much lighter than at other times of year due to summer vacations, people familiar with the situation said. An offering in September is not guaranteed either. Unless overall stock markets rebound by then, it could be delayed further into November or beyond, the people said.

General Motors Company (GM) is a global automotive company. Shares of GM fell by 1.99% or $-0.6/share to $29.50. In the past year, the shares have traded as low as $28.17 and as high as $39.48. On average, 13844300 shares of GM exchange hands on a given day and today's volume is recorded at 8676591.



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