Stocks In News (BP, GM, SKY, F, AIG, SDRL)

Stocks In News (BP, GM, SKY, F, AIG, SDRL)

BP plc (ADR) (NYSE:BP) shares gained 0.50% to $42.40 after the company said that it has shut production at three more platforms on Saturday as it evacuates workers ahead of Tropical Storm Isaac. The company announced it was shutting production on Thunder Horse, the world’s largest oil platform.

General Motors Company (NYSE:GM) shares declined 0.33% to $21.11 in the pre-market hour after the company said it is recalling nearly 45,000 of its 2012 Chevrolet Sonic subcompact cars because of a defect that could prevent washer fluid from spraying on the car’s windshield. The recall covers certain 2012 Sonics manufactured from May 5, 2011 through Feb. 24, 2012.

Additionally, Reuters reported that General Motors Co’s German unit Opel may have to cut a third of all jobs in Germany, German newspaper Bild reported on August 25, 2012. The newspaper reported that GM has given Opel a clear goal of 30% for the job cuts.

Skyline Corporation (NYSE:SKY) shares plunged 52% in the last one year. The 52 week trading range for the company is $4.02 – $11.15. The company designs, produces and markets manufactured housing, modular housing and towable recreational vehicles (travel trailers, fifth wheels and park models) to independent dealers and manufactured housing communities located throughout the United States and Canada.

Ford Motor Company (NYSE:F) stock increased 0.42% to $9.53 after the company said it received approval from China’s top economic planner to split its venture in China with Mazda Motor Corp. , paving the way for the U.S. automaker to increase control of its expansion in the country. The National Development and Reform Commission approved an application for Ford to have a separate venture with Changan Automobile Co. instead of the current three-way ownership structure with Mazda.

American International Group, Inc. (NYSE:AIG) stock gained 0.55% to $34.66. The New York Fed last week said it sold the last of its securities from the Maiden Lane III portfolio, marking the end of assistance the central bank has given to American International Group. The New York Fed said it made $6.6 billion on Maiden Lane III and a total of $17.7 billion on AIG- and AIG-related securities.

Seadrill Ltd (NYSE:SDRL) shares climbed 1.95% to $41.93 after the company reported second quarter profit of $526 million, or $1.09 a share, from a year-earlier profit of $615 million, or $1.29 a share. Revenue rose 13% to $1.12 billion. Analysts expected earnings of $0.78 a share on revenue of $1.12 billion.