Thursday, June 9, 2011

US Hot Stocks: GE, S, POT, FOR, CBAK

General Electric (NYSE: GE) rose more than 1% on Thursday after Reuters reported that the US conglomerate may be looking to part ways with its $3 billion railcar leasing business. The business, which has $3 billion of assets, might see bids from such firms as Warburg Pincus, TPG Capital, Cereberus, and Apollo Management. Meetings between GE and the firms have taken place over the last several weeks following submission of initial offers in early May, Reuters said.

Sprint Nextel Corp. (NYSE: S) climbed nearly 2% on reports that Motorola Mobility Holdings Inc. (NYSE: MMI) plans to introduce its first so-called fourth-generation Android smartphone for its network today.

Shares of Potash Corp. (NYSE: POT) rallied more than 4% after a USDA WASDE report showed lower-than-expected 2011/2012 corn ending stocks. 

Forestar Group Inc. (NYSE: FOR) surged more than 12% after the company announced that, as a result of recent deterioration in the capital markets, it and its wholly-owned subsidiary, Forestar (USA) Real Estate Group Inc., have decided not to proceed with their previously announced proposed private offerings of $100 million aggregate principal amount of convertible notes due 2018 and $150 million aggregate principal amount senior secured notes due 2019.

China BAK Battery, Inc. (NASDAQ: CBAK) jumped more than 12% after the company announced that itis seeing a surge in customer demand for its e-bike battery business at its Tianjin facility due to the recent government suspension of lead-acid battery manufacturing in China.

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