Sunday, July 08, 2007

General Motors shares rise in early trading

Monday, June 25, 2007
General Motors shares rise in early trading
Detroit News wire services

General Motors Corp.'s shares rose as much as 3.9 percent after Goldman Sachs rated the stock a "buy," Bloomberg News reported today.

GM's shares gained 91 cents to $36.37 at 9:51 a.m. in New York Stock Exchange composite trading, after rising as high as $36.84.

Saying the United Auto Workers union may offer larger concessions than expected to the biggest U.S. automaker, Goldman Sachs analyst Robert D. Barry today raised his rating on the Detroit-based automaker from "neutral," Bloomberg reported.

Overall, sentiments were mixed on Wall Street this morning.

In the first hour of trading, the Dow Jones industrial average rose 1.78, or 0.01 percent, to 13,362.04. The Standard & Poor's 500 index fell 2.91, or 0.19 percent, to 1,499.65, and the Nasdaq composite index fell 6.84, or 0.26 percent, to 2,582.12.

The Associated Press contributed to this report.

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