Stocks to watch: Costco, GE
The warehouse retailer reports same-store sales, while the conglomerate is delaying plans to build a solar factory.
By Joseph Woelfel, TheStreet.com
Costco (COST), the warehouse retailer, said same-store sales in June rose 3%. Analysts were expecting same-store sales to rise 3.7%. Total sales for the month rose 6% to $9.18 billion from $8.69 billion a year earlier.
General Electric (GE) is delaying plans to build the biggest solar factory in the U.S. in Aurora, Colo., near Denver. The Denver Post reported GE has told state and local officials that it plans to postpone construction of its PrimeStar solar panel plant by 14 to 18 months. The plant will have an annual capacity of 400 megawatts.
General Motors (GM) and its partners sold 213,495 vehicles in China in June, up 10.1% from a year earlier.
Visteon (VC), the auto parts supplier, said it would offer about $805 million in cash to buy the remaining 30% of South Korean car air conditioner maker Halla Climate Control that it doesn't already own.
Exxon Mobil (XOM) is weighing a sale of its German Esso gas station chain, according to people familiar with the process, Bloomberg reported. The unit, which includes more than 1,100 gas stations in Germany, may fetch more than €1 billion ($1.3 billion), two of the people told Bloomberg.
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Stocks are facing some serious resistance as the bears tear into the market's respite.
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