Market Minute: General Motors Re-Friends Facebook for Ad Campaign

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General Motors advertises on Facebook again - Getty Images
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The Dow Industrials rose 60 points yesterday, closing at another record high. The S&P 500 added five points and the Nasdaq gained 15.

General Motors (GM) is re-friending Facebook (FB). The automaker pulled its ads from the social networking site a year ago. But now the Wall Street Journal reports that GM is testing a new tie-up with Facebook, including a pilot campaign for its Chevrolet Sonic.

Health Management Associates (HMA) may need to see the doctor. The operator of healthcare facilities warned that earnings will fall well short of Street expectations. That's likely to drag down the stock of competitors HCA (HCA) and Tenet Healthcare (THC), as well.

A jury in Las Vegas has ruled that two United Healthcare units must pay $500 million dollars in punitive damages to a pair of patients who contracted hepatitis from a medical procedure.

We could see a bidding war break out over biotech firm Life Technologies. The Wall Street Journal reports that three big buyout firms are teaming up to make a bid. And Reuters says Thermo Fisher Scientific already has a bid on the table.

Boeing and Honeywell have agreed to jointly work on technology to develop and improve wireless connections on planes. They hope to provide faster, more reliable in-flight connectivity.

Shares of J.C. Penney (JCP) fell to a 12-year low yesterday following the ouster of CEO Ron Johnson, and analysts are saying the retailer faces a huge challenge in turning around its faltering sales.

Another retailer, Aeropostale (ARO), could be under pressure today after Goldman Sachs (GS) downgraded the stock to 'sell' from 'neutral.'

Even though the housing market is picking up steam, Realogy (RLGY) says revenue will miss its target. The company owns the Century 21 and Coldwell Banker real estate groups.

And chemical maker W.R. Grace (GRA) warns that its earnings for the full year will below Street expectations. It blames problems in Europe.

–DailyFinance


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