UPDATE 4-GM beats second-quarter estimates, shares gain

Newswire

(Adds background, analyst quotes, stock price) By Jui Chakravorty DETROIT, July 31 (Reuters) - General Motors Corp. on Tuesday said it swung to a quarterly profit that trounced Wall Street estimates as it benefited from cost-cutting and growing sales overseas, sending its shares higher. GM posted a second-quarter profit of $891 million against a massive $3.4-billion loss a year ago, bolstered by gains in Europe, Latin America and Asia, sales of higher-margin vehicles and a one-time, ...

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