Earnings, Revenue Beat Consensus
General Motors reported third-quarter earnings for $0.93 a share on revenue of $37.60 billion. Analysts had expected just $0.60 and $35.70 billion, respectively. Management also made positive comments on business in Europe, and GM is higher by almost 5 percent before the bell on my tradeMONSTER platform.
Opnet Soars on Riverbed Takeover
Opnet Technologies agreed to be acquired by Riverbed Technology for $43 a share in cash. OPNT, which closed at $32.10 on Friday, rockets 29 percent in early trading. RVBD fell 11 percent in the premarket.
Planned Job Cuts Lift UBS Shares
UBS plans to downsize, and is cutting 10,000 jobs as it transitions away from bond trading. That business had become less profitable because of tighter regulations, and the news is sending UBS higher by 14 percent in early trading.
Chinese Weakness Drags on Baidu
Chinese Internet giant Baidu reported strong third-quarter profit, but revenue of $994.6 million missed the $1 billion consensus forecast. Guidance was also below estimates amid economic weakness on the Mainland. BIDU drops almost 6 percent in the pre.
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