General Motors (NYSE: GM) announced this weekend at the North American International Auto Show in Detroit that it would partner with Coskata Inc., an Illinois-based renewable energy start-up company that plans to produce ethanol from agricultural, municipal, and industrial waste byproducts.

"GM is enabling Coskata to produce the next generation of biofuels -- without using a food source -- making it economically viable and commercially available," said Coskata CEO Bill Roe. "Alternative transportation fuels are coming faster than people think ... and will be available at a lower cost than people have imagined."

Coskata is backed by billionaire investor Vinod Khosla, said the Wall Street Journal, and is one of a handful of ethanol makers in the U.S. that are trying to develop a method for efficiently producing cellulosic ethanol.

But Coskata's cellulosic ethanol won't be available at retail gas stations until 2010 or later. The company maintains that its process is commercially viable already. It plans to open a 40,000-gallon demonstration facility by the end of this year to deliver ethanol to GM for vehicle testing, before building a 100-million-gallon commercial plant at an undetermined U.S. location.

GM's foray into the cellulosic ethanol field is part of a broader campaign to convince car buyers that it is committed to fuel economy and capable of competing with Toyota Motor Corp. (NYSE: TM) in terms of environmental leadership. GM's stake in the partnership with Coskata was undisclosed.

Activision, Inc. (NASDAQ: ATVI): Revised it's outlook upward. Shares moved up to $27.98 from 52-week low of $16.05.

Hologic, Inc. (NASDAQ: HOLX): Company is to be added to the Nasdaq 100. Traded up to $69.75 from 52-week low of $45.88.

Archer Daniels Midland Company (NYSE: ADM): The company is still moving up on strength of legislation of new law to increase ethanol production. It hit $43.37 up from 52-week low of $30.20.

Tribune Company (NYSEL: TRB): Deal to take company private finally closes. Up to $34 from 52-week low of $22.78.

Douglas A. McIntyre is an editor at 247wallst.com.

Agricultural transportation company The Andersons Inc. (NASDAQ: ANDE) reported good numbers for first-quarter 2007 on May 2. The company is composed of five segments, three of which returned increases in revenues and profits. Overall, revenues were $409 million for the quarter, and net income was $9.2 million, which works out to diluted EPS of $0.51. These numbers are all improvements over 1Q 2006 figures. For the 43rd straight quarter, Andersons will pay a cash dividend, this time $0.0475 per share.

Grain and Ethanol is Andersons's largest business unit. On total revenues of $247 million, it earned operating income of $10.2 million, five times what it earned in 1Q 2006. Andersons was helped by a 40% average increase in grain prices, and by continuing demand for ethanol, of which Andersons sold more than $30 million in the quarter. The company just brought a second ethanol production plant into operation in May. So many companies are rushing into ethanol production that there may soon be excess production capacity, which will lead to price reductions and lowered earnings down the road.

Andersons specializes in the transportation of grain commodities by rail. Its Rail segment showed a small operating income for the quarter, $3 million, about half of what this unit earned in 1Q 2006. Total rail transport revenues were down due to a 5% decline in US rail traffic across the board. This unit sold fewer rail cars and had substantially higher maintenance costs for its wholly owned railcar fleet. 1Q 2006 was a particularly profitable quarter for this unit with the repair of so many rail cars damaged in Hurricane Katrina, so quarter-over-quarter comparisons are not completely accurate.