GM expected to wow investors, could file for IPO Friday

General Motors will post its biggest profits in six years when it announces its earnings tomorrow morning, the Wall Street Journal says.

That would be a nice way to gig up interest in its initial public offering of stock. Reuters, citing a source, says he IPO filing could happen as soon as Friday. But it was only last week that Bloomberg quoted GM CEO Ed Whitacre as saying the filing will take a few weeks.

Anyway, CEO Ed Whitacre says GM will report "impressive" earnings for the second quarter that will surpass the $865 million that the automaker earned in the first quarter, the Journal adds. Sales are on the rebound, GM has some vehicles that are getting good reviews in the U.S. and the China market remains a strong point.

Read Full Article from USA Today

- Posted: 2010-08-11 21:23:41

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