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Stock Market & Financial Investment News

News For DDAIF;VLKAY;F;HMC;NSANY;TSLA;GM;FIATY;TM From The Last 14 Days
Check below for free stories on DDAIF;VLKAY;F;HMC;NSANY;TSLA;GM;FIATY;TM the last two weeks.
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April 24, 2014
06:54 EDTTSLA, FIATYTesla looks to hire workers for ex-Chrysler California plant, Bloomberg says
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06:44 EDTGMGM car owners not in accidents say they deserve compensation, Bloomberg says
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06:37 EDTVLKAYVW's Scania offer backed by truck-maker's fourth largest owner, Bloomberg says
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06:20 EDTHMC, TM, FAutomakers see delays of new cars delayed from U.S. factories, WSJ reports
Deliveries of new cars and trucks are being delayed from U.S. factories as automakers and railroads face effects from winter weather and the rise of production outside the Midwest, the Wall Street Journal reports. Dealers have been left short of some popular models like the Ford Explorer (F) and Toyota Rav4 (TM) because of the logjams, the publication adds. CSX Corp (CSX) CEO Michael Ward expects the situation will ease through Q2. Reference Link
April 23, 2014
16:00 EDTTSLAOptions Update; April 23, 2014
iPath S&P 500 VIX Short-Term Futures up 12c to 41.01. Option volume leaders: AAPL C GILD GOOG TSLA ZNGA TWTR FB according to Track Data.
13:44 EDTGMEarnings Preview: General Motors to take $1.3B charge in Q1 due to recalls
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12:25 EDTTMToyota reports yearly global sales up 4.5% to 10.13M vehicles
Toyota reported that for its fiscal year ended March 31, worldwide sales increased 4.5% to 10.13M vehicles. The company also reported yearly sales in Japan increased 3.9% to 2.4M vehicles. Reference Link
10:00 EDTTSLASolarCity modules won't be used by Tesla in China network, DigiTimes says
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09:34 EDTTSLAActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GILD NFLX TSLA VZ MU WFM AMGN
08:02 EDTGMGeneral Motors bankruptcy exit called fraudulent in new suit, FT says
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07:45 EDTTMToyota desires more hybrid system parts created in China, Reuters says
Toyota desires locally-made parts to comprise at least half the components in the gasoline-electric hybrid propulsion systems for the Corolla and Levin vehicles it aims to begin producing in China next year, according to Reuters, citing comments from the vice president for Toyota Motor Engineering and Manufacturing in China. Reference Link
06:50 EDTVLKAYVW up against rising Scania offer opposition from Alecta, Bloomberg says
Volkswagen is up against increasing opposition to its $9.3B offer for the rest of heavy-truck manufacturer Scania after the company's third-largest shareholder, Sweden's Alecta, rejected the bid, according to Bloomberg, citing comments on the Swedish shareholder's website. Reference Link
06:40 EDTTSLATesla may deploy PV-based power charging network, DigiTimes reports
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06:38 EDTFFord CEO said to position board post after retiring, Bloomberg says
Ford CEO Alan Mulally is setting up a corporate post, most likely as a board director or chairman of the carmaker, according to Bloomberg, citing people with knowledge of his plans. The sources said Mulally has almost claimed a certain position, which is why Ford is aiming to announce his retirement and Mark Fields’ promotion to CEO. Reference Link
06:06 EDTGMNHTSA probing new Chevrolet Impala cars, Detroit News reports
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April 22, 2014
16:04 EDTTSLAOptions Update; April 22, 2014
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14:28 EDTGMSunEdison, Conn's rally after Greenlight discloses new stakes
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14:03 EDTGMGreenlight closed short on Chipotle, long on GM, Dow reports
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12:48 EDTGMGeneral Motors April weekly volatility elevated at 42 into Q1 and outlook
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11:35 EDTTSLAStocks with call strike movement; TSLA HLF
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11:24 EDTGMGM restructures Global Vehicle Engineering organization
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11:04 EDTTSLATesla rallies sharply after recent price weakness, levels to watch
The shares are on the move to the upside this morning, last up over 5.4% to $215.60. This short-term uptrend has yet to overcome the downtrend in place since the price peak in February. It would take a move above the pivot high at $235.73 set back in March for shares to be back on a more bullish path. Next resistance at current price is at $220.44. Support is at $210.05.
09:38 EDTTSLAActive equity options trading on open
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07:55 EDTGMGM looks for court protection against defect suits, Reuters says
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07:23 EDTDDAIFMercedes adds crossover as competitors expand SUV offerings, Bloomberg says
Daimler's (DDAIF) Mercedes-Benz is planning to add a coupe-style SUV crossover to gain on larger competitors BMW (BAMXY) and Audi (AUDVF), according to Bloomberg, citing comments from Mercedes-Benz's development chief Thomas Weber. Reference Link
06:53 EDTVLKAYUAW abandons challenge to vote lost at VW Tennessee factory, Bloomberg says
The United Auto Workers abandoned its challenge to a February vote in which Volkswagen employees in Tennessee declined representation, which crushed one of labor’s best attempts at organizing a foreign-owned vehicle manufacturing plant in the U.S, according to Bloomberg, citing comments UAW president Bob King. King said, “The UAW is ready to put February’s tainted election in the rearview mirror and instead focus on advocating for new jobs and economic investment in Chattanooga." Reference Link
06:41 EDTTSLATesla may have China charging network in early 2015, China Daily reports
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06:21 EDTTSLATesla delays in China upset group of customers, WSJ reports
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06:20 EDTTMToyota's striking workers in India expected to resume work, WSJ reports
Workers at Toyota's factories in India are expected to restart work today, ending a strike over higher wages, the Wall Street Journal reports. Reference Link
06:13 EDTTSLATesla CEO Musk: Panasonic will likely be partner for battery factory, WSJ says
Elon Musk, the CEO of Tesla (TSLA), says Panasonic (PCRFY) will likely partner with the company on a planned $5B battery plant in the U.S., the Wall Street Journal reports. Tesla is expected to announce more details in two to three months. Panasonic says it is looking into a "variety of options to strengthen its relationship" with the electric car maker. Reference Link
April 21, 2014
16:40 EDTFOn The Fly: Closing Wrap
Stocks on Wall Street were higher for the fifth straight session. Volume remained light on this Monday following Easter, as a number of international markets remained closed. The averages spent time on both sides of the flat-line early in the trading day before settling into a narrow range in positive territory for most of the second half of the session. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index fell to 0.20 in March, matching the consensus forecast. The Conference Board's index of leading indicators rose 0.8% in March, beating the consensus forecast for an increase of 0.7%. COMPANY NEWS: Ford (F) is preparing to announce that its Chief Operating Officer, Mike Fields, will take the CEO role at the company following the retirement of current CEO Alan Mulally later this year, according to a report from Bloomberg. Shares of Ford were little changed for the session following the report, losing 2c, or 0.13%, to close at $15.98... U.S.-listed shares of British pharmaceutical company AstraZeneca (AZN) gained $5.61, or 8.84%, to $69.10 after the U.K.'s Sunday Times said Pfizer (PFE) has takeover interest in the company. Analysts had mixed opinions on the report, with Citigroup saying a bid looks "highly probable," while analysts at Bernstein think such a deal would conflict with Pfizer's strategy of getting smaller. Shares of Pfizer rose 61c, or 2.02%, to $30.86 following the report... MAJOR MOVERS: Among the notable gainers was Sarepta Therapeutics (SRPT), up $9.58, or 39.26%, to $33.98 after announcing plans to submit a New Drug Application to the FDA by the end of this year for the approval of eteplirsen for the treatment of Duchenne muscular dystrophy. Also higher was Advanced Micro Devices (AMD), which rose 43c, or 11.65%, to $4.12 after the semiconductor manufacturer reported earnings and revenue that topped expectations after the close on Thursday. Among the noteworthy losers was MoneyGram (MGI), down $2.01, or 13.57%, to $12.80 in its second straight losing session after Wal-Mart (WMT) announced that it was launching its own money transfer service. MoneyGram's slide today comes after the stock dropped by more than 18% on Thursday following Wal-Mart's announcement. Also lower was lululemon (LULU), down $2.64, or 5.11%, to $49.07 after analysts at Sterne Agee said the company's investor day presentation, held on Thursday, did not include a substantive plan to grow same-store sales. INDEXES: The Dow was up 40.71, or 0.25%, to 16,449.25, the Nasdaq was up 26.03, or 0.64%, to 4,121.55, and the S&P 500 was up 7.04, or 0.38%, to 1,871.89.
14:27 EDTFFord to name COO Fields as next CEO, Bloomberg says
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14:03 EDTFFord to name Mark Fields next CEO, Bloomberg says
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11:46 EDTGMStocks with call strike movement; BX GM
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09:36 EDTTSLAActive equity options trading on open
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08:15 EDTVLKAYVW manager says company agrees to budget vehicle concept, Reuters says
Volkswagen has agreed to the basic concept and design of a budget car for emerging markets, which brings the project's completion a step closer after a long battle to meet expense goals for the car, according to Reuters, citing comments from a company manager. Reference Link
07:57 EDTGMContinental car airbag manufacturer named in GM recall case, Reuters says
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07:46 EDTTMToyota to debut China-produced Corolla, Levin hybrids in FY15, Reuters says
Toyota is aiming to produce and sell hybrid versions of its Corolla and Levin sedans in China next year, fitting them with locally-built components, in its first offer to completely construct gas-electric hybrids outside of Japan, according to Reuters, citing comments from the company's executive vice president Yasumori Ihara. Reference Link
07:38 EDTGMGM offer to freeze ignition lawsuit deemed a 'red herring,' Bloomberg says
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07:27 EDTDDAIFDaimler, BMW target wealthy customers with new cars, Reuters says
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07:12 EDTF, GMU.S. judge allows GM South Africa apartheid lawsuit, Bloomberg says
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06:40 EDTTSLAMusk says Tesla to produce vehicles in China within 3-4 years, Bloomberg says
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06:31 EDTFIATYFiat and Chrysler to start building Jeeps in China in late 2015, WSJ reports
Fiat and Chrysler are looking to build Jeep vehicles for China in the country beginning in late 2015, the Wall Street Journal reports. The Jeeps will be manufactured through a joint venture between Fiat and Guangzhou Automobile. Reference Link
06:28 EDTGMMany auto show attendees not worried about GM, NY Times says
Many attendees of a recent auto show were not very concerned about the recall of millions of GM's cars, according to The New York Times. One reason for the lack of worry is that GM's models whose ignition problems caused fatal crashes are out of production, the newspaper quoted analysts as saying. Reference Link
06:28 EDTNSANYNissan considering further expanding capacity in China, WSJ reports
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06:26 EDTDDAIFDaimler, BYD to build all-electric vehicle for China, WSJ reports
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06:23 EDTNSANYNHTSA to probe Bosch chargers connected to Nissan Leaf fire, Detroit News says
The National Highway Traffic Safety Administration will open an investigation into 50 Bosch Power Xpress 250V charging units to determine if a charging unit caused a fire to a Nissan Leaf EV, reports Detroit News. Reference Link
06:23 EDTGMGeneral Motors sees minimal impact on U.S. sales from recall, WSJ reports
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06:06 EDTGMGeneral Motors to boost production capacity in China to 5M, AP reports
Dan Ammann, the president of General Motors, says the company, along with local partners, will boost production capacity for company-branded vehicles in China to 5M, the Associated Press reports. The executive says he expects sales of the Cadillac to double to 100,000 next year. Reference Link
06:02 EDTGMGM waited years to recall 335,000 Saturn Ions despite complaints, AP reports
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April 20, 2014
17:02 EDTVLKAYVolkswagen looks to sell more than 3.5M vehicles in China in 2014, WSJ says
Volkswagen is targeting sales of more than 3.5M vehicles in China this year, says the Wall Street Journal. China accounted for more than one-third of global deliveries in 2013 for the German carmaker, added the Wall Street Journal. Reference Link
16:08 EDTGMGM executive say April U.S. sales on pace for 'good month,' WSJ reports
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April 17, 2014
13:50 EDTGMJudge denies 'park it' request on recalled GM cars, WSJ says
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12:48 EDTGMJudge denies request GM tell recalled car owners to park them now, DJ says
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10:20 EDTTSLAStocks with call strike movement; AMZN TSLA
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09:35 EDTTSLAActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GOOGL GOOG NFLX TSLA AMZN GOLG NOV AA IBM
08:10 EDTDDAIF, VLKAY, NSANY, TM, HMCJapanese, German car manufacturers benefiting on Korea deal, Reuters says
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07:58 EDTGM, HMC, FIATY, TM, NSANY, VLKAY, FEU vehicle sales turnaround fails to stop price war, Reuters says
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07:24 EDTGMGM sets up fast-track ordering system for recall-related parts, Reuters says
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06:53 EDTGMGM redesigned ignition switch on Cadillac SRX in 2006, Detroit News says
General Motors redesigned the ignition switch in pre-production Cadillac SRX crossovers in 2006 when it discovered problems similar to the vehicles currently recalled, reports Detroit News citing NHTSA documents released Wednesday. Reference Link
06:49 EDTGMGM motion to freeze suits could reduce customer compensation, Bloomberg says
GM's motion to freeze ignition-defect lawsuits in California and Texas has solid legal reasoning behind it and might help reduce customer payout demands by billions of dollars, according to Bloomberg, citing a company spokesman. Reference Link
06:41 EDTFIATYJeep exec says China production deal expected by April's end, Reuters says
Fiat will announce a deal by the end of the month to grant production of Jeep vehicles in China, according to Reuters, citing comments from the head of the Jeep brand, Mike Manley. Reference Link
06:13 EDTVLKAYVolkswagen may decide soon on U.S. SUV, WSJ reports
Michael Horn, the head of Volkswagen's American operations, says a decision on whether the company will make a new SUV in the U.S. could come within the next several months, the Wall Street Journal reports. Reference Link
05:30 EDTFLincoln brand launches in China
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05:07 EDTFFord launches global fashion collaboration
Ford celebrates the 50th anniversary of the Mustang with its first-ever global collaboration with world-renowned designers to create an apparel collection. Timed to the 50th anniversary of Mustang’s debut, fashion innovators including Anna Sui, Rogan, Paula Cademartori, CO TE and Pamela Love will celebrate the iconic pony car through a limited-edition line of shirts for the Mustang Unleashed collection. The collection will be produced by Loomstate, a leader in organic and sustainable apparel, and will be available globally this fall.
April 16, 2014
18:38 EDTTSLAFidelity Contrafund adds to Tesla position, Reuters says
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16:00 EDTTSLAOptions Update; April 16, 2014
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14:29 EDTF, GMGM to offer diesel mid-size trucks, says April sales 'robust,' WSJ reports
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13:15 EDTTSLATesla to discuss charging facilities with Sinopec, China Daily says
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09:36 EDTTSLAActive equity options trading on open
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08:12 EDTTMToyota prepares for slower growth after two profitable years, Reuters says
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07:58 EDTGMGM CEO Barra says unaware if DOJ seeking documents, WSJ says
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07:53 EDTGMGM creates product develop group to keep safety as primary focus, Reuters says
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06:43 EDTFIATYMaserati mulls addition of Alfieri after orders increase, Bloomberg says
Maserati will most likely boost production and add the Alfieri sports car to its lineup after advance sales at Italian car manufacturer have nearly tripled over last year's deliveries, according to Bloomberg, citing people familiar with the matter. Maserati is owned by Fiat. Reference Link
06:41 EDTGMGM CEO says recalled cars being fixed, NY Times reports
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06:30 EDTDDAIFDaimler, Rolls-Royce price stake at EUR2.43B
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06:23 EDTFFord could replace MyFord Touch, Detroit News says
Ford is looking to improve upon its MyFord Touch system and could debut a system that could potentially replace it, reports Detroit News citing Ford America's Chief, Joe Hinrichs. Reference Link
06:15 EDTGMGM looks for ban on lawsuits related to recall pre-2009, Detroit News reports
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06:12 EDTGMGeneral Motors to bring Chevy Trax SUV to the U.S., Detroit News reports
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05:13 EDTFFord reveals 50th anniversary Mustang
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April 15, 2014
18:11 EDTTM, NSANY, HMCMajor Japanese automakers target 30% production increase in Asia, Nikkei says
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15:53 EDTFFord's new My Touch with BlackBerry software slated for year end, WSJ says
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13:16 EDTTSLATesla Motors May volatility increases on wide price movement
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12:10 EDTTSLATesla slides from the open, levels to watch
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10:40 EDTGMBass says has not met GM's Barra but believes she is 'very competent' CEO
Hayman Capital's Kyle Bass is speaking about General Motors on CNBC.
10:36 EDTGMBass says GM is Hayman Capital's biggest position
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10:36 EDTGMBass says press not telling whole narrative related to GM-linked deaths
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10:11 EDTTSLATesla continues downtrend, levels to watch
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09:35 EDTTSLAActive equity options trading on open
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08:12 EDTHMC, NSANY, FBofA/Merrill to hold a summit
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08:01 EDTFFord reports Europe sales up 12% in March, 11% in Q1
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07:11 EDTFIATYPorsche's success shadows Maserati sales revamp, Reuters says
As Fiat (FIATY) looks to revamp its small Maserati brand as a serious competitor to the world's luxury vehicle manufacturers, the pressure to succeed is shadowed by the the success of Germany's Porsche (POAHY), reported Reuters. Reference Link
06:40 EDTTMToyota rivals Hyundai's Sonata with Camry revamp, Bloomberg says
Toyota (TM) is making aesthetic changes to its Camry sedan just halfway into the car’s usual design cycle, which is a signal that the car manufacturer is eager to rival Hyundai's (HYMLF) Sonata, which also is being reworked for FY15, reported Bloomberg. Reference Link
April 14, 2014
16:00 EDTTSLAOptions Update; April 14, 2014
iPath S&P 500 VIX Short-Term Futures down 32c to 44.41. Option volume leaders: AAPL C GILD TSLA LNG NQ BAC ZNGA according to Track Data.
15:17 EDTTSLATesla Motors April 195 straddle priced for 5.1% move as share trend lower
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14:18 EDTTMToyota targets 10% improvement in MPG for new engines, AutoNews says
Toyota is aiming for a 10% increase in the fuel efficiency of its new line up of engines which are set to arrive through the end of 2015, AutoNews reports. Reference Link
14:03 EDTTSLATesla breaks back below $200, bearish pattern now active
There is a large bearish descending triangle pattern on the daily chart that became active below $200. Downside potential for the pattern, if price doesn't rise back above $200 and completes, is to the $155 to $154 area over time. Next support is at $195.32.
13:06 EDTGMGeneral Motors bounces, but bearish pattern still dominates chart
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11:17 EDTGMGeneral Motors announces departure of HR, Communications heads
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10:10 EDTTSLATesla Motors May volatility elevated, shares near two-month low
Tesla Motors April call option implied volatility is at 61, May is at 74, June is at 62; compared to its 26-week average of 56 according to Track Data, suggesting large price movement into New York International Auto Show.
09:36 EDTTSLAActive equity options trading on open
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06:33 EDTGMGM records show in-house investigator stymied by co-workers, Bloomberg says
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April 13, 2014
19:18 EDTGMGM Opel unit may get to break even ahead of 2016 target, WSJ says
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April 11, 2014
17:09 EDTGMStocks tumble as investors remain skittish
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15:15 EDTGMGM CEO Barra emailed about recall developments in 2011
New documents released this afternoon by the House of Representatives Committee on Energy and Commerce indicate that Mary Barra, who is now General Motors' CEO, was emailed by Terry Woychowski in 2011 regarding the company's handling of Saturn Ions and Chevrolet Cobalts that were being probed by the NHTSA related to defects. In the email, dated October 3, 2011, Woychowski tells Barra that during the initial Cobalt case the "Ion data did not justify being included" and that the situation was "evolving." Shares of General Motors, which have been in negative ground throughout the session, are down about 3.75% to $32.05 in late afternoon trading. Over the last three months, the stock is down about 20%. Reference Link
14:58 EDTGMGeneral Motors options active on Senators call on DOJ to intervene
General Motors April 34 calls and April 31 puts are active on Senators calling on the Department of Justice to intervene in GM suits. April call option implied volatility is at 30, May is at 31, June is at 30; compared to its 26-week average of 28 according to Track Data. Active option volume suggests traders taking positions for large price movement.
14:54 EDTGMSenators call on DOJ to intervene in GM suits, require compensation fund
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14:14 EDTF, GMDeutsche Bank upgrades Ford on earnings outlook
Deutsche Bank upgraded Ford (F) to Buy from Hold in a note to investors, saying that the company's earnings are poised to increase significantly in 2015-2016. WHAT'S NEW: Ford can increase the price of its pickup trucks, Deutsche Bank analyst Rod Lache wrote. The company's pickups now cost just an average of about $150 per vehicle more than GM's offerings, versus the average gap of $3,000 over the last five years, Lache explained. Ford's new F150 truck will be less expensive than previously expected, as the truck's aluminum body will be cheaper than anticipated and the company has been able to find other ways to cut production costs, the analyst stated. Additionally, Ford's prospects in Europe and China are "favorable," according to the analyst, who upgraded the stock to Buy from Hold. He raised his price target on the shares to $19 from $18.50. WHAT'S NOTABLE: Lache was somewhat upbeat on General Motors (GM), saying that the company can keep it profits at "decent" levels by cutting its costs. However, he added that the automaker's products have not met expectations. Lache now expects GM's share of the pickup truck market share to drop to 17% in 2015 from 17.5% this year. He lowered his 2014 EPS estimate for GM to $2.58 from $3.38 and reduced his 2015 EPS estimate for the company to $4.20 from $4.80. Lache reduced his price target on the shares to $41 from $48, but kept a Buy rating on the stock. PRICE ACTION: In mid-afternoon trading, Ford added 0.6% to $15.72, while GM fell 2.9% to $32.33.
14:13 EDTTSLATesla to build charging network in China, Xinhua says
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12:42 EDTFOn The Fly: Analyst Upgrade Summary
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11:02 EDTVLKAYVolkswagen says delivered 2.4M vehicles in Q1
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10:59 EDTTSLATesla Motors May volatility elevated at 76 on wide price movement
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10:01 EDTFFord rallies in early trading following upgrade, levels to watch
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09:37 EDTTSLAActive equity options trading on open
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07:31 EDTHMC, NSANY, F, FIATY, VLKAY, TM, GMChina auto sales growth slowed in March, WSJ reports
The China Association of Automobile Manufacturers said 1.71M passenger vehicles were sold there in March, which was up 7.9% from a year earlier but a slower growth rate than the 11% year-over-year increase seen in the January-to-February period, reported The Wall Street Journal. The association cited weak sales of minivans, which fell 23% in the month, as a large factor, the report noted. Publicly traded automakers include Ford (F), General Motors (GM), Fiat (FIATY), Honda (HMC), Toyota (TM), Nissan (NSANY) and Volkswagen (VLKAY). Reference Link
06:40 EDTVLKAY, GMGM surpasses VW in Q1 China sales, Bloomberg says
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06:36 EDTGMSafety advocates unnerved by accidents in recalled GM cars, Reuters says
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06:15 EDTF, GMFord upgraded to Buy from Hold at Deutsche Bank
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05:43 EDTTMToyota upgraded to Buy from Hold at Jefferies
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05:41 EDTTSLASQM upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill upgraded SQM (SQM) to Neutral citing the bottoming of potash prices and improving demand for lithium after Tesla (TSLA) announced plans to build a factory to produce batteries for electric cars. The firm raised its price target for shares to $34 from $25.
April 10, 2014
17:50 EDTTMToyota group members to expand repair shops in Southeast Asia, Nikkei says
Parts makers Denso and Aisin Seiki, and trading house Toyota Tsusho, intend to open repair shops in Thailand and Indonesia during 2014, Nikkei reports. Reference Link
16:39 EDTGMOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower as selling pressure took hold early in the session and did not relent. The averages closed near their worst levels, with the tech-heavy Nasdaq down more than 3%. With today's close, each of the major indexes is now lower for the year. ECONOMIC EVENTS: In the U.S., initial claims for unemployment benefits fell to 300K last week, hitting their lowest weekly level since May 2007. The the timing of Easter and Passover, as well as other seasonal factors, however, may have lead many to discount the figure. Export prices rose 0.8% in March, while import prices grew 0.6%, both of which were greater than expected advances. In China, exports fell 6.6% from a year earlier in March, while imports plunged 11.3%. Economists had predicted year-over-year gains for both. COMPANY NEWS: eBay (EBAY) and activist investor Carl Icahn settled their proxy contest, with Icahn withdrawing both his two board nominees and his proposal for eBay to spin off its PayPal unit. As part of its agreement with Icahn, eBay will expand the number of independent directors on its board to 10 and add David Dorman to serve in that capacity. The online retail marketplace was among the many tech names suffering losses, closing the session down $1.81, or 3.24%, at $54.08... Ally Financial (ALLY), formerly the auto finance and financial services arm of General Motors (GM), lost $1.02, or 4.08%, to close at $23.98 in its first day of trade following its return to the public markets after having price its return offering at $25.00 per share... General Motors made news again as well by confirming that two of its engineers have been placed on paid leave as part of the company's ongoing ignition switch recall probe. The company also added ignition lock cylinders to its safety recall of 2.2 million vehicles in the U.S. and said it expects to take a $1.3B charge in the first quarter due to recall-related repairs... MAJOR MOVERS: Among the notable gainers was drugstore operator Rite Aid (RAD), which rose 54c, or 8.44%, to $6.94 after reporting earnings and revenue and that beat expectations and giving a revenue outlook for its fiscal 2015 that came in above estimates. Also higher following a better than expected earnings report was casual restaurant owner Ruby Tuesday (RT), which advanced 72c, or 12.08%, to $6.68. Among the noteworthy losers was data security solutions provider Imperva (IMPV), down $21.73, or 43.7%, to $28.00 which plunged 41% after the company slashed its first quarter profit and sales outlook. Another name in computer security, FireEye (FEYE), was among a a number of so-called "momentum" stocks that fell during the session, sliding $6.64, or 11.77%, to $49.75. Other momentum stocks that fell included 3D Systems (DDD), down $5.90, or 10.79%, to $48.78, and Yelp (YELP), down $7.78, or 10.92%, to $63.47. INDEXES: The Dow was down 266.96, or 1.62%, to 16,170.22, the Nasdaq was down 129.79, or 3.1%, to 4,054.11, and the S&P 500 was down 39.10, or 2.09%, to 1,833.08.
16:00 EDTTSLAOptions Update; April 10, 2014
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14:07 EDTGMGeneral Motors up more than 1% after announcing $1.3B recall-related charge
14:02 EDTGMGeneral Motors to take $1.3B charge in Q1 on recall-related repairs
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13:44 EDTTMToyota unveils new, more efficient gasoline engines, AP reports
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12:25 EDTGMOn The Fly: Midday Wrap
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09:37 EDTTSLAActive equity options trading on open
Active equity options trading on open according to Track Data: SIRI RAD AAPL AMZN AA FB TSLA MRK CVX C
08:12 EDTTSLATesla's Musk to kick-off China debut this month, Bloomberg says
Tesla Motors is planning to begin offering its luxury sedans in China this month and said the company’s co-founder, Elon Musk, will be in the country to kick-off the debut, according to Bloomberg, citing comments from Tesla's vice president of marketing and communications. Reference Link
08:08 EDTGMGM confirms two engineers placed on paid leave as part of ignition switch probe
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07:38 EDTTSLATesla has some potential volume upside for Model X, says Goldman
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07:20 EDTGMGM fights against judge's request for 'park-it' order, Bloomberg says
U.S. District Judge Nelva Gonzales Ramos asked GM to explain why she shouldn’t order the automaker to recommend that drivers of the recalled cars should cease driving them, according to Bloomberg, citing a statement from the automotive company. GM feels it shouldn’t be obligated to tell vehicle owners to park the recalled models until they are fixed, because they’re safe to use if government-approved recall instructions are followed. Reference Link
06:32 EDTTM, F, GM, FIATY, VLKAYAutomakers have recalled nearly 15M vehicles since start of year, WSJ reports
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06:10 EDTGMGeneral Motors requests NASA review in recalled vehicles, Detroit News says
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03:19 EDTTMToyota targets annual Chinese car sales of 2M units by 2025, Nikkei reports
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