Four Earnings Beats, Four Stocks Making A Morning Move

General Motors Company (NYSE:GM) has posted strong gains of 4.24% in morning trading following the release of strong third quarter results. Among the positives were earnings per share of $1.50, running over estimates of $1.19, and revenue of $38.80 billion, topping estimates by $190 million. General Motors Company (NYSE:GM)’s strong showing was fueled by an increased appetite for trucks and SUV’s in the low gas price environment, as well as strength in the key U.S and China markets. The results will please Toronto-based Breton Hill, which we reported yesterday as having a taste for tobacco and automobiles heading into this quarter. General Motors Company (NYSE:GM) was the fund’s top pick as of September 30, with it holding 295,995 shares.

Lastly is Biogen Idec Inc (NASDAQ:BIIB), which is up by 2.70% in morning trading, after initially surging by over 5%. As with the previous three companies, Biogen Idec Inc (NASDAQ:BIIB) also announced stronger-than-expected results, in addition to upgrading its guidance. On top of adjusted earnings per share of $4.48, a beat of $0.69, Biogen’s $2.78 billion in revenue also beat forecasts by $130 million. Furthermore, the biopharmaceutical company announced that it would slash its global workforce by 11%, while upgrading its non-GAAP diluted EPS estimates for fiscal year 2015 to between a range of $16.20 and $16.50. Biogen Idec Inc (NASDAQ:BIIB) was found in the portfolios of 63 elite investors that we track as of June 30, topped by Samuel Isaly’s healthcare fund Orbimed Advisors.

Disclosure: None