NEW YORK (TheStreet) -- Shares of General Motors (GM) are up 1.12% to $36.99 as details emerge about a fund being set up to compensate victims of crashes linked to the automaker's defective ignition switches, sources told the Wall Street Journal.
The fund is expected to outline the details as early as next week as the automaker considers waiving key legal defenses in order to resolve injury and death cases out of court, the Journal said.
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Separately, TheStreet Ratings team rates GENERAL MOTORS CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL MOTORS CO (GM) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."