Ford Surges, Broadcom Corporation Takes Advantage of Mobile Demand, GE Moves X-ray HQ

July 27, 2011 - PRLog -- Ford Motor Company (F): The only U.S. automaker not getting a government bailout has posted a net profit for eight straight quarters. In fact, spurred on by higher prices and improved sales in North America, Ford’s quarterly profit beat Wall Street predictions.

The good news was Ford's pretax profit rose 0.5 percent to $1.91 billion for Q2, but the other side of that coin was the fact that North America was the single area where the profits improved. Pretax profit was $176 million in Europe, where the firm has been lagging behind other automakers.

Broadcom Corporation (BRCM): Broadcom reported unaudited financial results for its second quarter ending June 30, 2011 and better-than-expected second-quarter earnings and third-quarter revenue outlook, driven by rising demand for mobile devices. Shares jumped 8.3% to $37.81 in pre-market trading.

The revenue for the second quarter of 2011 was $1.8 billion. This represents an increase of 12% compared with the $1.6 billion reported for the second quarter of 2010.  Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the second quarter of 2011 was $175 million, or $.31 per share (diluted), compared with GAAP net income of $278 million, or $.52 per share (diluted), for the second quarter of 2010.

General Electric Co (GE): General Electric said it is moving its X-ray business headquarters to China to accelerate sales in the country's fast-growing health-care market, the latest sign of China's growing importance to the giant U.S. conglomerate.

General Electric operates as a technology, media, and financial services company worldwide. Its Energy Infrastructure segment produces gas, steam, and aero derivative turbines; generators; combined cycle systems; and renewable energy solutions, as well as provides water treatment services and equipment.

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