GM Assessed $35M Fine; Two-Day Losing Streak Ends
Stocks moved higher during the afternoon trading session to end a two-day losing streak. General Motors (GM) was assessed the maximum fine of $35 million for their recall delay. GM was assessed the fine since they admitted to not notifying the government in a timely manner after discovering the faulty ignition switch. Darden Restaurants (DRI) has decided to sell Red Lobster to investment firm Golden Gate Capital for $2.1 billion. The company decided to sell the seafood chain after continual poor performance and to focus more on its flagship brand, Olive Garden.
Word on the Street
Published on May 16, 2014By InvestorGuide Staff