Stock Alert for Motors Liquidation Company (MTLQQ)
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    MTLQQ Defies Weak Market, Surges 13%

    Motor Liquidation Company (PINK: MTLQQ), formerly General Motors Corp., and some of its subsidiaries filed voluntary petitions for relief under Chapter 11 Bankruptcy Code, on June 1, 2009. The petition was filed in the United States Bankruptcy Code for the Southern District of New York. Following this, an order approving the sale of almost all of Motor Liquidation Company’s assets to a new and independent company was issued on June 5, 2009. The sale was completed on July 10, 2009, allowing General Motors (GM) to emerge from bankruptcy as an independent company and spin out almost all of its debt into the Motors Liquidation Company.

    The new independent General Motors has been on a road to recovery, since then. The company, today, reported its second-quarter financial results, posting a second consecutive quarterly profit. For the second quarter ended June 30, 2010, GM reported earnings of $1.3 billion, or $2.55 per share. This is the largest profit posted by the automaker since 2004. The company’s second-quarter revenue came in at $33.2 billion. Since emerging from bankruptcy in July last year, GM has restructuring its portfolio to focus on its core North America brands of Chevrolet, GMC, Cadillac and Buick.

    GM’s cash flow from operating activities was $3.9 billion, in the second quarter of 2010. The company had free cash flow of $2.8 billion, in the quarter. GM ended the quarter with $32.5 billion in cash and marketable securities.

    GM managed to recover sooner-than-expected, following the bankruptcy, giving the company enough confidence to go for a public offering later this year, which is much earlier-than-anticipated. None of the securities of the old General Motors Corporation will become securities in the new GM. All these securities are part of the Motor Liquidation Company. The penny stock Motor Liquidation Company trades over-the-counter under the symbol MTLQQ. Today, the penny stock is up 14.94% to $0.401 on above average volume of 4.63 million.

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