Boston, MA 02/20/2014 (wallstreetpr) – General Motors Company (NYSE:GM) will also start building aluminum-bodied trucks, just as Ford Motor Company (NYSE:F) which announced such plans earlier. It is reported that GM’s aluminum pickups could hit the showroom by 2018 and this latest development could be a result of the company caving in to pressure for fuel efficient vehicles on the road as required by Fed. Ford which is expected to feature 95 percent military grade aluminum in its 2015 F-150 pickups hopes that the move will cut the weight of the pickups by 700 pounds, thus making the more fuel efficient and economic to maintain. Just as Ford, GM is reportedly in talks with Alcoa (NYSE:AA) for the supply of aluminum sheets. Usually the demand for value-added aluminum sheets used in auto and aerospace industries are in high demand and buyers must place advance orders and that is what General Motors Company (NYSE:GM) is trying to do.
DryShips Inc. (NASDAQ:DRYS) was a source of disappointment on Nasdaq composite Wednesday, losing 6.2 percent of its share value in the regular session and 0.86 in the post-market trading. All this happened while the company reported mixed financial results for fiscal 2013 fourth quarter. The company reported GAAP net loss of $24.4 million, translating a loss of 6 cents per share. That compared with net loss of $129.9 million or 34 cents per share in the same duration a year ago. While loss sort of narrowed in the latest quarter, it missed Zacks estimate which was a loss of 2 cents. DryShips Inc. (NASDAQ:DRYS)’s Revenue was however impressive by most measures, coming in at $431.4 million against $391 million estimated by Zacks, thus signaling more than 52 percent year-over-year growth.
Nabors Industries Ltd. (NYSE:NBR) reported beating top and bottom line figures but quickly explained that the noted impressive performance was not linked to operations, rather tax benefits. Thus, the company still needs to adjust its operations to continue posting impressive results. NBR reported fourth quarter earnings per share of 42 cents at a time when analysts pegged their hopes on 20 cents per share. Revenue came in at $1.61 billion instead of $1.55 billion that analysts expected. Shares of Nabors Industries Ltd. (NYSE:NBR) shot up 13.34 percent to settle the shares at $21.15. It was also a day that a news 52-week high was recorded at $21.27.
