Stocks flat at the open on Wall Street

Published on NewsOK Modified: December 19, 2012 at 8:47 am •  Published: December 19, 2012
Advertisement
;

GM stock soared $1.93, or 7.6 percent, to $27.42 after the company said it would spend $5.5 billion to buy 200 million shares of GM stock back from the U.S. government.

The government pledged to sell its remaining 300 million shares on the open market and shed its entire ownership stake in 12 to 15 months. The government got GM stock as part of a 2009 bailout.

Elsewhere on Wall Street, technology stocks and energy companies were among the early winners. Telecommunications companies and utilities fell the most in early trading.

Business software maker Oracle jumped $1.16 to $34.04 a share after reporting stronger earnings as companies splurged on software and other technology.

In the bond market, the yield on the benchmark 10-year U.S. Treasury note fell 0.02 percentage point to 1.80 percent.

| |

Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Hotel leaves Oklahoma City Thunder opponents telling ghost stories
  2. 2
    Check out the Thunder postseason playlist
  3. 3
    VIDEO: Blake Griffin dumps water on a fan
  4. 4
    Oklahoma City Thunder: Grizzlies guard Nick Calathes calls drug suspension unfair
  5. 5
    Dave Chappelle Reveals Shockingly Buff New Look
+ show more