Before the Bell-GM shares drop on GMAC loss
NEW YORK, July 31 |
NEW YORK, July 31 (Reuters) - Shares of automaker General Motors (GM.N) fell 6.1 percent to $10.70 before the bell on Thursday, after finance company GMAC posted a $2.48 billion second-quarter loss.
Results at GMAC will hurt those at GM, which kept a 49 percent stake in GMAC after selling the rest in 2006 to private equity firm Cerberus Capital Management [CBS.UL]. (Reporting by Kristina Cooke; Editing by Jonathan Oatis)
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