Stocks Surge Amid Anticipation of General Motors Strike Settlement

Strategic Insights -

A growing anticipation of a settlement between General Motors and the United Auto Workers union drove up the company's stock by $3.37 1/2 to $73.18 3/4 on Wednesday. Nicholas Colas, a Credit Suisse First Boston analyst, reported that conversations with the company have become more productive, and a settlement is close. The union's headquarters in Detroit remained tight-lipped, with officials unavailing for comment. Meanwhile, Syntellect prepared to announce a $2.5 million deal with Comcast to provide its Vista call-center management platform, while Ford Motor Co. launched a massive $50 million billboard campaign. Visa U.S.A. faced antitrust scrutiny over its debit card policies, and the Securities and Exchange Commission confirmed an investigation into Datek Online's business practices.

Key Takeaways:

  • General Motors' stock surged $3.37 1/2 to $73.18 3/4 amid anticipation of a settlement with the UAW union.
  • Nicholas Colas, a Credit Suisse First Boston analyst, reported that General Motors has made progress in negotiations with the union.
  • Syntellect was set to announce a $2.5 million deal with Comcast to provide its Vista call-center management platform.
  • Ford Motor Co. launched a $50 million billboard campaign, believed to be one of the costliest in outdoor advertising.
  • Visa U.S.A. was facing antitrust scrutiny over its debit card policies, reportedly stifling competition.
  • The Securities and Exchange Commission confirmed an investigation into Datek Online's business practices.

Statistics:

  • General Motors' stock price rose by $3.37 1/2 to $73.18 3/4.
  • Syntellect planned to install over 40 of its Vista systems at Comcast locations within 12 months.
  • Ford Motor Co.'s billboard campaign was valued at over $50 million.
  • The Federal Trade Commission was investigating Visa and MasterCard's requirements for merchants to honor their debit cards.
  • The Securities and Exchange Commission was investigating potential wrongdoing at Datek Online.

Sources:

  • "General Motors Stock Jumps Amid Anticipation of Strike Settlement". Dow Jones News Service.
  • "Syntellect to Announce Call-Center Deal". Dow Jones News Service.
  • "Ford Starts $50 Million Billboard Campaign". Dow Jones News Service.
  • "Visa Under Antitrust Scrutiny". Dow Jones News Service.
  • "SEC Confirms Probe of Datek Online". Dow Jones News Service.