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.

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Published on May 16, 2014
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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