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Mark Elwa

General Motors posted big profit

So the the auto maker reported a third-quarter profit and revenue that were well above expectations. 

Earnings for the quarter ended in September came in at $1.4 billion, or 84 cents a share, compared with $1.4 billion, or 81 cents a share, in the same period a year ago. 

Excluding non-recurring items, adjusted earnings per share were $1.50, beating the FactSet consensus of $1.12. Revenue declined to $38.8 billion from $39.3 billion, but was above the FactSet consensus of $37 billion.

Stocks are moving in a rising wedge, so the target for today is $34.8-35 per share.

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