May 5, 2011
It's bankruptcy is past, it's arch-rival Toyota struggling, GM is now making cars that people are buying. The result: General Motors announced sharply higher earnings this morning. Looks like a higher opening for GM shares today.
Our local phone company, Frontier Communications, also reported this morning. They had a profitable quarter, though on a comparable basis to previous periods things slowed a bit. The traditional wireline phone business is on a slow track to extinction and there seems to be some evidence in this quarter's report from Frontier. Caveat Emptor.
PAETEC, about to start constructing their much-publicized headquarters downtown, reported results this morning as well. One thing missing: profits. PAETEC has been making acquisitions and getting bigger for a few years now; at what point will they start using black ink in their financial statements? See competitor TW Telcom for how it's done.
Harris Corp. disappointed the street yesterday with soft numbers, but their longer term outlook is, in my opinion, still bright.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).