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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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July 28, 2014
08:19 EDTFFord to host sales conference call
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06:43 EDTVLKAYAudi decreases spare-part costs in China amid investigation, Reuters says
Volkswagen's (VLKAY) premium brand Audi (AUDVF) said it plans to reduce spare-part costs in China as worldwide carmakers rush to amend their pricing goals after the National Development and Reform Commission in China started investigating the vehicle industry, according to Reuters, citing comments in an emailed statement from Audi. The NDRC is looking into the industry amid domestic media allegations that foreign car companies, using a monopolistic market position, are charging Chinese clients too much on products and extra parts. Reference Link
06:36 EDTGMGM Korea avoids strike with preliminary wage agreement, Reuters says
GM's South Korean division avoided a possible strike at one of its core Asian product bases by arriving at a preliminary wage agreement with its labor union, according to Reuters, citing comments from union spokesman Jang Kyung-dae. Under the agreement, GM Korea said it will pay a combined $10,200 in bonuses and incentives to each employee and increase the basic wage by won 63K. Reference Link
06:07 EDTGMNHTSA closes GM defect petition review
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06:04 EDTTMNHTSA closes Toyota Prius defect petition review
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05:56 EDTNSANYNissan reaffirms FY14 net income outlook $4.05B
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05:55 EDTNSANYNissan reports Q1 net income up 37% to $1.10B
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July 27, 2014
20:31 EDTGMNHTSA investigating air bag software on older Chevrolet Impalas, Reuters says
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19:00 EDTNSANYNissan recalls additional vehicles over airbag, WSJ says
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July 25, 2014
18:14 EDTFFord engineer investigated by FBI over listening devices, Reuters reports
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16:49 EDTGMS&P ends week little changed amid earnings deluge
The S&P 500 finished little changed this week as mixed U.S. economic data and continued geopolitical uncertainty offset strong earnings from a number of major companies and upbeat overseas economic data. MACRO NEWS: U.S. economic data was mixed, as fewer than expected jobless claims were reported and durable goods orders for June were slightly higher than expected, but new home sales for June and a preliminary purchasing managers' index for July came in below expectations... Investors received some positive economic news from overseas, as HSBC's preliminary China purchasing managers' index for July reached an 18-month high. Meanwhile, a preliminary PMI for the euro zone for July came in at 54, versus 52.8 in June... Ongoing conflicts between Israel and Hamas and Russia and Ukraine kept investors on edge, with Friday reports indicating that no truce accord had been reached in Israel and that Russia was building up its troop presence along the Ukrainian border. COMPANY NEWS: Among the notable companies whose stocks rose after they reported quarterly results were Facebook (FB), Apple (AAPL), Allergan (AGN) and Chipotle Mexican Grill (CMG). Notable companies whose stocks sold off following their results included Netflix (NFLX), Harley-Davidson (HOG), General Motors (GM), Boeing (BA), McDonald's (MCD) and Pandora (P)... McDonald's was also hit this week by revelations that its restaurants in China had sold expired meat that was allegedly intentionally supplied by a China-based company. Yum! Brands (YUM) and a provider of products to Starbucks (SBUX) are also believed to have bought and sold expired meat from the supplier... In M&A news, Bloomberg reported that real estate website operator Zillow (Z) held talks about buying its rival, Trulia (TRLA). Both stocks surged. Shares of SodaStream (SODA) also rallied after Bloomberg reported that the company is in talks about selling itself to an investment firm that would take the beverage system maker private... On Monday, hedge fund manager Bill Ackman promised on CNBC that his presentation about Herbalife (HLF) would show why the company "is going to collapse." But the shares actually surged higher during and immediately after Ackman's presentation. Ackman has a large short position in the stock and notably alleged it is a pyramid scheme... BlackBerry's (BBRY) CEO told the Financial Times that his company was in early talks about partnering with companies to target the enterprise markets, in order to counter a recently announced partnership between Apple and IBM (IBM). INDEXES: For the week, the Dow fell 0.83% to 16,960.57, the Nasdaq rose 0.4% to 4,449.56, and the S&P was flat at 1,978.34.
14:10 EDTGMGM mulls $37M investment in Lansing plant expansion, Detroit News says
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14:04 EDTGMGeneral Motors large SUV sales help improve bottom line, NY Times says
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10:53 EDTGMGeneral Motors falls on state AG investigations, downgrades
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10:02 EDTGMOn The Fly: Analyst Downgrade Summary
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09:37 EDTTSLAActive equity options trading on open
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08:58 EDTFIATYNHTSA opening new probe into defects in Dodge Chargers, Detroit News reports
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08:35 EDTGMGeneral Motors downgraded at CLSA
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07:46 EDTGM, GMGeneral Motors downgraded to Outperform from Buy at CLSA
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07:43 EDTGMGeneral Motors sell-off an overreaction to messy Q2 results, says UBS
UBS believes the sell-off in General Motors following its messy Q2 results is an overreaction. The firm said the company posted in-line EU profits and better than expected profits in both South America and Asia while North America missed. UBS, which notes that GM management was confident in the second half of the year and expect favorable pricing to return to North America, keeps its Buy rating and $54 price target on the stock.
07:17 EDTF, GMGM, Ford optimistic on EU recovery amid Russia, Ukraine issues, Reuters says
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06:39 EDTGMUnion says GM might give some Brazil employees paid leave, Reuters says
An auto workers union said that GM is looking to put 1K of 5.2K employees at a Brazil plant on paid leave amid decreasing output in Latin America's biggest economy, according to Reuters, citing comments from a union leader. Reference Link
06:24 EDTGMGeneral Motors downgraded to Hold from Buy at Deutsche Bank
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06:02 EDTGMGM says 45 state AGs investigating ignition recalls
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July 24, 2014
17:43 EDTFFord shares look attractive, Barron's says
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17:05 EDTGMOn The Fly: Closing Wrap
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16:00 EDTTSLAiPath S&P 500 VIX Short-Term Futures down 10c to 28.08
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12:32 EDTF, GMOn The Fly: Midday Wrap
Stocks on Wall Street were slightly higher at midday amid another wave of earnings reports, headlined by Facebook (FB), Caterpillar (CAT), General Motors (GM) and Ford (F). The market has moved in a narrow range as investors try to digest the bevy of earnings reports that were released last night and this morning. The market has also had to battle a negative economic report on new home sales, which not only disappointed in June but saw the prior month revised lower as well. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 19K to 284K in the week ended July 19. While the BLS said there were no special factors in the claims data, they also reminded that the numbers can be very volatile at this time of year due in part to auto shutdowns. Markit's flash U.S. PMI for July dipped 1 point to 56.3 from 57.3 in June. June new home sales fell 8.1% to a 406K rate, which was worse than expected, and May's data was downwardly revised. In China, HSBC's flash manufacturing Purchasing Managers' Index rose to 52 in July from 50.7 a month earlier. COMPANY NEWS: Facebook achieved a new all-time high and its share price eclipsed $76, a level that was more than double the price of its initial public offering, after its revenue and profits beat expectations. After the report a number of Wall Street analysts hiked their price targets on the stock, with Jefferies and Topeka both raising their targets on the social network operator's stock to $100... Shares of General Motors declined more than 3% after its earnings per share, excluding special items, missed consensus expectations and its revenue also fell short of the analysts' forecast. The company took a $400M special charge related to its ignition switch compensation program, but cautioned that there is no cap on this program and it is possible the total cost could increase by another $200M. Also, GM recorded a non-cash pre-tax special charge of about $900M in the second quarter for the estimated costs of future possible recalls for "up to the next 10 years on 30M GM vehicles on the road today." In contrast, Ford reported earnings per share, excluding special items, and revenue that beat expectations and its stock rose 1%... Caterpillar dropped over 3% after its quarterly revenue missed expectations and it narrowed its outlook for full-year revenue. However, the heavy machine maker's earnings did beat the consensus forecast and it raised it fiscal year profit outlook. MAJOR MOVERS: Among the notable gainers was Sodastream (SODA), which jumped nearly 20% after Bloomberg said the home beverage system maker is in talks with an investment firm on deal that would make it a private company and value it at about $828M, or $40 per share. Also higher following their earnings reports were Under Armour (UA), which rose 15%, and Dr. Pepper Snapple (DPS), which gained 5%. Among the noteworthy losers following their earnings reports were homebuilder DR Horton (DHI), which fell 10%, online travel company TripAdvisor (TRIP), which dropped 9%, and semiconductor chip maker Qualcomm (QCOM), which slid 6%. Also lower was review service operator Angie's List (ANGI), which plunged 19% after reporting second quarter losses per share and revenue that were worse than expected, prompting a number of downgrades of its stock by Wall Street analysts. INDEXES: Near midday, the Dow was up 8.25, or 0.05%, to 17,094.88, the Nasdaq was up 6.10, or 0.14%, to 4,479.80, and the S&P 500 was up 2.98, or 0.15%, to 1,989.99.
11:00 EDTFIATYPeugeot denies Fiat merger discussions report, Bloomberg says
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10:41 EDTGMGeneral Motors sees 2H better than 1H excluding recalls
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10:34 EDTFIATYFiat 'categorically denies' report of merger talks with Peugeot, Bloomberg says
Bloomberg cites a Fiat (FIATY) spokesperson responding by phone to the report from Financial Times.
10:32 EDTFIATYFiat, Peugeot held informal merger talks earlier this year, FT says
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10:30 EDTFIATYFiat, Peugeot held informal merger talks earlier this year, FT says
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10:28 EDTGMGeneral Motors continues to expect China business to remain strong
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10:26 EDTGMGeneral Motors says global market share fell to 11.3% in Q2
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10:21 EDTGMGeneral Motors sees recall frequency up, cost per event down under new model
GM says it has "substantially completed" its efforts to address outstanding recall issues and announced earlier that it has implemented a new process for recalls. GM will now prospectively accrue estimated recall expense at time of sale, which it says is similar to policy and warranty and in-line with other manufacturers. The company expects to identify issues sooner and expects recall frequency up, but the number of vehicles and cost per event to be down under new process. The $874M non-cash special charge GM took is its "best estimate of remaining recall expense for the next 10 years for 30M GM vehicles on the road today," the company stated.
10:16 EDTGMGeneral Motors says reviewed vehicles back to 1990s in recall review
CEO Barra says two thirds of recalled vehicles no longer offered. GM says about 22M vehicles were recalled in Q2 and about 29M recalled year-to-date. Ignition switch replacement part availability continues to improve, with about 1M repair kits shipped and about 560k vehicles repaired. GM says rental car demand related to recalls "falling steadily." Comments from CEO Mary Barra speaking on the company's Q2 earnings conference call and from associated slides.
09:36 EDTTSLAActive equity options trading on open
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09:16 EDTF, GMOn The Fly: Pre-market Movers
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09:06 EDTTSLATesla Q2 production may beat, Street view on Q3 may need lowering, says RW Baird
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09:00 EDTFFord estimates Q2 global market share 7.5%, down from 7.7% year ago
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08:54 EDTFFord says remains on track to be profitable in Europe by 2015
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08:47 EDTFFord reports Q2 EPS ex-items 40c, consensus 36c
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08:11 EDTGMGM Financial reports earnings of $175M for June quarter
Consumer loan originations were $3.6B for the quarter ended June 30. Consumer loan originations for the six months ended June 30, 2014 were $7B. Consumer finance receivables 31-to-60 days delinquent were 3.5% of the portfolio at June 30, 2014, compared to 3.4% at June 30, 2013. Accounts more than 60 days delinquent were 1.6% of the portfolio at June 30, 2014, compared to 1.4% a year ago. Annualized net credit losses were 1.4% of average consumer finance receivables for the quarters ended June 30, 2014 and 2013. For the six months ended June 30, 2014, annualized consumer net credit losses were 1.6%, compared to 1.8% for the six months ended June 30, 2013.
07:52 EDTGMGeneral Motors says on track to be profitable in Europe by mid-decade
GM CFO Chuck Stevens said, “With successful new vehicle launches, we continue to generate strong results in the U.S. and China and remain on track to be profitable in Europe by mid-decade. We are confident we are currently on or ahead of plan to deliver the results we promised earlier this year, excluding the effects of recalls.” For Q2, GM North America reported EBIT-adjusted of $1.4B which included the impact of $1.0B in recall-related costs in the quarter, compared with EBIT-adjusted of $2.0B in the second quarter of 2013. GM Europe reported an EBIT-adjusted of ($0.3B) billion, which includes $0.2B for restructuring costs, which compares with ($0.1B) billion of EBIT-adjusted in the second quarter of 2013. GM International Operations reported EBIT-adjusted of $0.3B, compared to $0.2B in the second quarter of 2013. GM South America reported EBIT-adjusted of ($0.1B), compared with EBIT-adjusted of $0.1B in the second quarter of 2013. GM Financial earnings before tax was $0.3B for the quarter, compared to $0.3B in the second quarter of 2013.
07:48 EDTGMGeneral Motors takes $0.9B non-cash special charge for future possible recalls
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07:47 EDTGMGeneral Motors takes $0.4B special charge for ignition switch compensation
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07:46 EDTGMGeneral Motors reports Q2 adjusted EBIT $1.4B
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07:32 EDTGMGeneral Motors reports Q2 EPS ex-items 58c, consensus 59c
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07:26 EDTFIATYISS recommends Fiat investors vote against Chrysler deal, Reuters says
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06:51 EDTFFord sees Q3 production to be about 1.5M units
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06:51 EDTFFord reports Q2 total production 1.7M units
06:44 EDTFFord Credit sees FY14 pre-tax profit to be higher than 2013
Ford Credit also now expects year-end managed receivables of $112 billion to $115 billion, up from prior guidance of about $110 billion. Ford Credit continues to expect managed leverage in the range of 8:1 to 9:1, and distributions to its parent of about $250 million.
06:43 EDTFFord Credit reports Q2 pre-tax profit of $434M, net income $264M
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06:42 EDTFFord reports Q2 Total Automotive wholesale volume down 1%, revenue down 2%
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06:42 EDTFFord 'on track' for a solid year, 'higher volumes, revenues in 2015 and beyond'
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06:41 EDTFFord sees FY14 North America pre-tax profit to be lower than 2013
Sees North America operating margin in 8%-9% range. The company’s guidance includes 13 weeks of production downtime this year for the launch of the new F-150, including the summer shutdown at Ford’s Dearborn and Kansas City plants. Ford expects South America to incur a larger loss in FY14 than previously guided. It now expects the rest of the year for South America to be about breakeven to a loss due to lower-than-expected industry volumes and weaker currencies. The volatility in the region, including potential currency devaluations, adds uncertainty to short-term projections. Ford sees Q2 Europe pre-tax profit of $14M, due to lower costs and favorable exchange. Restructuring costs were lower than a year ago, primarily due to a reserve release this quarter associated with its Cologne investment agreement and non-recurrence of a facility write-off in Genk last year. Ford’s full-year guidance for Europe remains unchanged, with the region expected to improve pre-tax results compared with 2013. Ford expects Europe’s second half loss to be higher than the first half loss of $180 million. Lower second half wholesale volumes of about 100,000 units include the effect of summer shutdowns in the third quarter and year-end shutdowns in the fourth quarter. Ford’s full-year guidance for Middle East & Africa remains unchanged, with the region expected to be about breakeven with quarterly variability driven by factors such as the timing of production, mix of vehicles and long shipping times. Asia Pacific reported a second quarter pre-tax profit of $159M. For the full year, Ford continues to expect Asia Pacific to earn a higher pre-tax profit than a year ago. Ford expects full year results will be strong for the region, with third and fourth quarter results down from second quarter.
06:36 EDTFFord backs FY14 pre-tax profit guidance of $7B-$8B
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July 23, 2014
16:00 EDTTSLAOptions Update; July 23, 2014
iPath S&P 500 VIX Short-Term Futures up 23c to 28.17. Option volume leaders: AAPL FB C GILD MSFT PBR NFLX AMZN TWTR TSLA according to Track Data
15:30 EDTGM, FNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Ford (F), consensus 36c; General Motors (GM), consensus 58c; Potash (POT), consensus 46c; Caterpillar (CAT), consensus $1.52; 3M (MMM), consensus $1.91; Union Pacific (UNP), consensus $1.43; Bristol-Myers Squibb (BMY), consensus 44c; Eli Lilly (LLY), consensus 65c; Celgene (CELG), consensus 89c; Precision Castparts (PCP), consensus $3.35; Raytheon (RTN), consensus $1.59; Noble Energy (NBL), consensus 79c; Hershey (HSY), consensus 76c; Southwest Airlines (LUV), consensus 61c; Boston Scientific (BSX), consensus 19c; JetBlue (JBLU), consensus 19c.
15:02 EDTFFord July weekly 18 straddle priced for 2.7% move into Q2
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14:56 EDTFFord technical commentary ahead of results
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14:02 EDTF, GMEarnings Preview: Ford approaches 52-week high ahead of Q2 report
Ford Motor Co. (F) is expected to report second quarter earnings on Thursday, July 24, before the market open with a conference call scheduled for 8:30 am ET. Ford is a manufacturer and distributor of cars and trucks across six continents. EXPECTATIONS: Analysts are looking for earnings per share of 36c on revenue of $36.26B, according to First Call. The consensus range for earnings per share is 31c-43c on revenue of $34.65B-$39.42B. LAST QUARTER: Ford reported first quarter adjusted EPS of 25c against estimates for 31c on revenue of $35.9B against estimates for $34.06B. On its Q1 earnings report, the company said its plan for FY14 automotive revenue to be about equal to FY13's $139.4B is on track. It said FY14 operating margin and operating related cash flow plans are on track as well. The company maintained its view for U.S. and China industry volumes, but increased its view for EU 20 industry volume this year to 14M-15M from 13.5M-14.5M. The company expects second quarter production to be 1.7M units, up 32,000 units from a year ago, more than explained by higher volume in Asia Pacific. Compared with the first quarter, second quarter production is up 87,000 units. On its Q1 earnings conference call, Ford said it expects the remaining quarters of year to be 'substantially better' than Q1. On May 1, Ford announced CEO Alan Mulally was retiring and would be replaced by Mark Fields, effective July 1. On May 7, Ford announced a $1.8B stock repurchase plan. On June 24, Ford's Americas Chief Joe Hinrichs said the company was on schedule for its aluminum bodied 2015 Ford F-150 pickup truck. STREET RESEARCH: Street research has been mostly positive in the weeks leading up to Fords's Q2 earnings report. On April 28, Craig-Hallum upgraded Ford to Buy from Hold based on balance sheet, earnings profitability and dividend yield, and the upcoming 2015 F-Series launch. The firm raised its price target on the shares to $21 from $16. On May 15, Buckingham said Ford shares should be sold. Buckingham recommended buying GM's (GM) shares aggressively and selling Ford's stock. The firm reported that GM's performance in May had significantly outpaced that of Ford, while GM's full-size pickup sales had risen year-over-year. The firm kept a Buy rating on GM and a Sell rating on Ford. PRICE ACTION: Ford's shares have traded 13% higher since its Q1 report and are approaching their 52-week high of $18.08. In afternoon trading ahead of Thursday's Q2 report, Ford is up about 0.4% to $17.90.
13:45 EDTF, GMEarnings Preview: General Motors to take Q2 charge up to $1.2B on recalls
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13:30 EDTGMGM announces six new recalls totaling 717,950 vehicles
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11:02 EDTFFord July weekly volatility elevated into Q2 and outlook
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09:41 EDTTSLAActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX FB MSFT CELG TWTR TSLA VALE CNW
07:53 EDTGMWider group of engineers at GM knew about switch issues, WSJ says
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07:25 EDTVLKAYVW head addresses German employees regarding cost reductions, Reuters says
Volkswagen CEO Martin Winterkorn is planning to address workers at the car maker's largest facility in Germany as he aims to win their support for cost reductions at the firm's core VW brand, according to Reuters, citing two company sources. Winterkorn is aiming to reduce costs by $6.74B each year to streamline work processes at all levels of the brand. Reference Link
07:20 EDTVLKAY, FIATYFiat head says VW tie-up never an option, Reuters says
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05:22 EDTDDAIFDaimler AG reports Q2 EPS EUR 1.97 vs. EUR 2.65 last year
Reports Q2 revenue EUR 31.54B vs. EUR 29.69B last year. Reports Q2 EBIT EUR 3.1B vs. EUR 5.24B last year. Reports Q2 Daimler Group sales up 4% to 628.857 units vs. 605,823 units last year. Reports Q2 Mercedes-Benz Cars sales up 3% to 418,685 units vs. 404,711 units last year. Reports Q2 Daimler Trucks sales up 2% to 126,066 units vs. 123,763 units. Reports Q2 Mercedes-Benz Vans sales up 9% to 76,009 units vs. 69,436 units last year. Reports Q2 Daimler Buses sales up 2% to 8,097 units vs. 7,913 units last year.
July 22, 2014
16:26 EDTFIATYChrysler recalling older-model SUVs over ignition switch concerns
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16:00 EDTTSLAOptions Update; July 22, 2014
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13:29 EDTFFord taps Galhotra to lead Lincoln brand
Ford earlier today announced that Kumar Galhotra – currently the company’s vice president of Engineering, responsible for all Ford and Lincoln vehicles globally – will be vice president and president of the company's Lincoln brand, effective Sept. 1. This new dedicated position, reporting to Ford President and CEO Mark Fields, is designed to accelerate Lincoln even further as a world-class luxury brand, the automaker added. Succeeding Galhotra is Jim Holland, who is named vice president, Vehicle Component and Systems Engineering, effective Sept. 1, Ford added. Holland will report to Raj Nair, group vice president, Global Product Development.
11:03 EDTFFord announces retirement of Chief Technical Officer Mascarenas
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10:38 EDTGMGM recalls 2015 Chevrolet Silverado 2500s, 3500s for power steering defect
GM is recalling certain model year 2015 Chevrolet Silverado 2500 and 3500 HD vehicles manufactured October 1, 2013 to June 6 and 2015 GMC Sierra 2500 and 3500 HD vehicles manufactured September 30, 2013, to June 6. The power steering hose clamp may disconnect from the power steering pump or gear, causing a loss of power steering fluid. GM will notify owners, and dealers will inspect the vehicles to make sure the power steering hose clamps are properly secured, free of charge. The recall is expected to begin in early August. Reference Link
10:02 EDTTSLAChina to replace new-energy vehicle subsidies with new program, China Daily says
China will launch more fiscal support policies for "new-energy" vehicles for 2016 to 2020 when the current subsidy program expired at the end of 2015, said China Daily, citing a notice the State Council released Monday. New-energy vehicles include pure electric ones, plug-in hybrids and fuel cell vehicles, the report noted. Makers of electric vehicles include Kandi (KNDI) and Tesla (TSLA) and companies in the fuel cell space include Plug Power (PLUG), FuelCell Energy (FCEL) and Ballard Power (BLDP). Reference Link
09:36 EDTTSLAActive equity options trading on open
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07:24 EDTDDAIFMercedes invests in training, distribution to catch up in China, WSJ says
Daimler's (DDAIF) Mercedes-Benz unit is investing in China to build its biggest training facility in the world for car dealers and to add 100 new distribution outlets as it works to close the gap in the country with German automaking rivals BMW (BAMXY) and Audi, reported The Wall Street Journal. Reference Link
07:17 EDTFNational Association for Business Economics to hold a seminar
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06:24 EDTDDAIFMercedes aims to outpace China luxury car sales growth, Bloomberg says
Daimler’s Mercedes-Benz foresees outpacing the growth in industry sales of luxury cars in China this year, after merging two rivaling sales networks and adding new models including its new C-class sedan, according to Bloomberg, citing comments from the head of Mercedes-Benz in China Nicholas Speeks. Speeks said the car manufacturer is confident that deliveries will exceed 300K units next year with sales this year reaching close to 250K units. Reference Link
06:20 EDTTSLATesla adds robots to quicken California plant production, Bloomberg says
Tesla stopped production at its California assembly facility as it incorporates 25 robots to quicken production of electric sedans and prepares to manufacture its Model X sport-utility vehicle, according to Bloomberg, citing comments from spokesman Simon Sproule. Sproule said the overhaul is valued at $100M and vehicle assembly is set to resume in two weeks. Reference Link
July 21, 2014
16:00 EDTTSLAOptions Update; July 21, 2014
iPath S&P 500 VIX Short-Term Futures up 65c to 28.53. Option volume leaders: AAPL FB NFLX DG CMCSA GILD PBR TWTR TSLA according to Track Data.
15:40 EDTTSLATesla halts production at California plant for $100M upgrade, Bloomberg says
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11:57 EDTNSANY, GM, TSLAChinese electric vehicle maker Kandi surges after tax break news
Shares of Chinese electric car maker Kandi Technologies (KNDI) are surging after a Chinese newspaper reported that electric cars made outside of China would not qualify for a key tax break in the country. WHAT'S NEW: A key sales tax will not be waived on purchases of electric cars made outside of China, said Su Bo, China's vice-minister of the Industry and Information Technology Ministry, according to China Daily. Buyers of electric vehicles made in China will not have to pay a purchase tax from September 1, 2014 until the end of 2017, China Daily stated. WHAT'S NOTABLE: Tesla Motors (TSLA), Nissan (NSANY) and GM (GM) have all sought to sell electric vehicles in China. PRICE ACTION: In late morning trading, Kandi Technologies' stock rose $1.66, or 8.5%, to $21.28. The shares are well off their high for the day of $22.22, but they have surged 80% so far this year. Tesla shares, which had spent some of the morning in slightly negative ground, were up about 1% near $222 per share just before noon.
09:38 EDTTSLAActive equity options trading on open
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09:10 EDTTSLAOn The Fly: Pre-market Movers
HIGHER: Allergan (AGN), up 0.5% after Q2 results, FY14 outlook beat expectations and the company announces plans to reduce workforce by about 1,500 employees as part of restructuring. Also, Valeant (VRX) announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business"... Extreme Networks (EXTR), up 13% after raising Q4 EPS, revenue view... Gas Natural (EGAS), up 6% after confirming it rejected $13 per share unsolicited offer from Algonquin Power... EMC (EMC), up 4.5% after the WSJ says Elliot Management took a stake of over $1B in the firm and plans to push the company to break itself up... GoPro, (GPRO), up 2.8% after initiated at several firms including Citigroup, Barclays and JPMorgan... Kandi Technologies (KNDI), up 6% after China Daily said China will not to waive a sales tax on electric cars made by foreign companies. Tesla (TSLA) is down 1% following the report. UP AFTER EARNINGS: Halliburton (HAL), up 0.5%... LOWER: Reynolds American (RAI), down 2.3% after a Florida jury hit the company with $23.6B in punitive damages in a lawsuit filed by the widow of a longtime smoker. Shares of fellow tobacco companies also fell after the jury decision, as Lorillard (LO) fell 2% and Altria (MO) slid 1.6%... Yum! Brands (YUM), down 2% after AP reported that a Shanghai TV station said a food supplier sold expired beef and chicken to the company's KFC brand in China along with to McDonald's (MCD), which is down 0.7%. DOWN AFTER EARNINGS: PetMed Express (PETS), down 2.4%... Hasbro (HAS), down 1.3%.
06:58 EDTTSLA, NSANYForeign electric cars won't qualify for Chinese tax break, China Daily says
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06:21 EDTGMGeneral Motors eyeing budget cars for Europe, FT reports
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06:12 EDTGMGeneral Motors delays recall in another ignition switch case, ABC News says
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06:07 EDTNSANYNissan to introduce self-parking cars by 2016, Detroit News reports
Nissan is planning to introduce self-parking cars by 2016, the Detroit News reports. The feature, which will be available along with technology enabling cars to self-navigate congested highway, on a wide range of vehicles, CEO Carlos Ghosn says. Reference Link
July 19, 2014
20:10 EDTGMGM issues stop-sale on certain 2014 Cadillac CTS sedans, Bloomberg says
General Motors has issued a stop-sale order dated July 8 to its dealers for 2014 Cadillac CTS sedans that use a standard key ignition, says Bloomberg. Reference Link
July 18, 2014
18:21 EDTTMToyota to launch pricier compact in India, Nikkei reports
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15:23 EDTNSANY, TM, HMCJapan to provide generous subsidies for fuel cell vehicles, Nikkei says
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12:21 EDTGMCable ad upfront volumes may drop 4% or more, WSJ says
Two of the U.S.'s biggest marketers, Procter & Gamble (PG) and General Motors (GM), have pulled back on their TV network advertising commitments in advance of the "upfront" selling season for cable networks, said The Wall Street Journal, citing people familiar with the matter. The overall volume of ad dollars committed to cable networks during the upfront, which is still under way, could be down 4% or more from last year, people familiar with the situation said. Notable owners of cable television stations include 21st Century Fox (FOXA), Time Warner (TWX), Disney (DIS), CBS (CBS), Comcast (CMCSA), Discovery (DISCA), Viacom (VIAB), and AMC Networks (AMCX). The report added that cutbacks partly reflect a shift of tv ad budgets to digital media, including online video. Google (GOOG) has a large presence in online video with YouTube and Facebook (FB) is taking steps to grow in the area. Reference Link
10:16 EDTTSLATesla Motors August weekly volatility elevated into Q2 and guidance
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10:03 EDTDDAIFOn The Fly: Analyst Downgrade Summary
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09:48 EDTTSLAActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NQ GOOG GOOGL TSLA KGC TWTR AMZN ELNK AMGN FB
04:59 EDTDDAIFDaimler AG downgraded to Neutral from Outperform at Credit Suisse
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July 17, 2014
16:01 EDTTSLAOptions Update; July 17, 2014
iPath S&P 500 VIX Short-Term Futures up 2.66 to 29.93. Option volume leaders: AAPL FB GOOG APA MSFT PBR SUNE AMZN TWTR TSLA according to Track Data.
09:40 EDTTSLAActive equity options trading on open
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08:27 EDTDDAIFMercedes-Benz issues recall due to air bag assembly error
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07:50 EDTVLKAY, FIATYBiggest Fiat stakeholder denies possible VW acquisition, Bloomberg says
Fiat's (FIATY) largest stakeholder, the Agnelli family, said that there were no talks regarding a merger between the Italian car manufacturer and Volkswagen (VLKAY), according to Bloomberg, citing a spokesman for Exor, the Agnelli family's investment firm. Exor owns 30% of Fiat’s shares and was responding to a report by Germany’s Manager Magazin. Reference Link
07:46 EDTGMSenate Commerce & Transportation Committee to hold a hearing
The Subcommittee on Consumer Protection, Product Safety and Insurance holds a hearing entitled, "Examining Accountability and Corporate Culture in Wake of the GM Recalls" with General Motors CEO Barra and EVP Milllikin and President & CEO O'Neal of Delphi Automotive on July 17 at 10 am. Webcast Link
06:53 EDTGMGM deems some cars with same recalled switch 'safe', Reuters says
Even though GM issued a recall for millions of cars with defected ignition switches, the automobile manufacturer has concluded that over 2M other vehicles with the same switches are safe, according to Reuters, citing comments from GM spokesman Alan Adler. The car models which have not been recalled include fullsize crossovers such as the Buick Enclave and the Chevrolet Traverse manufactured from 2007 to the present. Reference Link
06:44 EDTFIATY, VLKAYReport says VW in talks to buy Fiat, Reuters says
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06:38 EDTGMGeneral Motors hires outside law firm to review litigation practices, WSJ says
General Motors has hired an outside law firm to review the way it handles litigation, reports the Wall Street Journal. The company's General Counsel Michael Millikin plans to say in a testimony at a Senate hearing Thursday that a "well-respected outside law firm" will conduct a "zero-based review" of his department. Reference Link
06:28 EDTFIATYChrysler pressured to fix Jeep recall faster, Detroit News says
The National Highway Traffic Safety Administration pressured Chrysler to resolve recalls for Jeep Grand Cherokee and Liberty vehicles due to risk of fire. The company stated it will be able to produce enough trailer hitches to complete the 1.56M vehicle recall faster than anticipated, reports the Detroit News. Reference Link
05:17 EDTFFord launches product acceleration in Middle East, Africa
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July 16, 2014
18:33 EDTNSANYNissan releases ultralow-budget car in China, Nikkei reports
Nissan Motor released an ultralow-budget passenger car in China to compete directly with local automakers, Nikkei reports. Reference Link
16:00 EDTTSLAOptions Update; July 16, 2014
iPath S&P 500 VIX Short-Term Futures down 70c to 27.25. Option volume leaders: AAPL FB GOOG AMZN TWTR TSLA C HPQ TWX INTC AMZN according to Track Data.
13:08 EDTTSLATesla eyes California as possible battery factory site, WSJ says
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13:05 EDTGMGM sold 2.5M vehicles worldwide in Q2
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11:42 EDTDDAIFDaimler to debut new Smart 4, 2 seat vehicles, Automotive News says
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09:37 EDTTSLAActive equity options trading on open
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09:29 EDTHMCHonda India unit issues recall for 1,338 vehicles, Reuters says
Honda's India division issued a recall for 1,338 vehicles in the country to implement a preventive replacement of the passenger side air bag inflator, according to Reuters, citing an emailed statement from the automobile manufacturer. Reference Link
09:02 EDTGMGeneral Motors volatility low into testimony at Senate hearing
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08:00 EDTFFord added to US Key Calls List at UBS
UBS added Ford to its Key Calls List after its recent survey raised its confidence in the success of the F-150 product launch. The survey showed good reception and that buyers were willing to pay a premium above the firm's estimates. UBS said shares are trading well below its long-term OEM average multiple and maintains its Buy rating and $23 price target on Ford.
06:44 EDTTSLATesla requests Beijing hackers to find Model S weaknesses, Bloomberg says
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06:40 EDTTSLATesla reveal plans for Tesla Model III, Auto Express reports
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06:35 EDTHMCAcura aims for boost from new TLX vehicle in U.S., Bloomberg says
Honda’s U.S. senior vice president who leads the Acura brand, Mike Accavitti, said the brand has scrambled to raise U.S. deliveries amid competition from larger luxury vehicles and expects it to experience quicker growth starting in August with the arrival of the new mid-size TLX, according to Bloomberg, citing comments from Accavitti. Reference Link
06:31 EDTGMDocuments show GM hid defect from regulators, NY Times reports
Documents indicate that GM knew at least three fatal crashes were caused by its faulty ignition switches, but failed to tell regulators that when asked about the cause of the accidents, according to The New York Times. Reference Link
06:29 EDTGMSenators turn scrutiny towards GM General Counsel, WSJ reports
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06:19 EDTFIATY, F, GM, TSLAFord, GM, Chrysler not interested in Tesla patents, Detroit News says
Ford (F), General Motors (GM), and Chrysler (FIATY) either have little interest in Tesla's (TSLA) EV patents or the companies are not sharing their plans, reports the Detroit News. Reference Link
July 15, 2014
17:45 EDTGMGeneral Motors shares should climb 30%, Barron's says
GM shares look inexpensive at current prices and shares should climb over 30% in the next year, Barron's contends in its "Ahead of the Crowd" column. Reference Link
17:35 EDTFGoogle confirms Alan Mulally appointment to board
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16:15 EDTFGoogle appoints ex Ford CEO Alan Mulally to board, CNBC says
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16:00 EDTTSLAOptions Update; July 15, 2014
iPath S&P 500 VIX Short-Term Futures up 53c to 28.02. Option volume leaders: AAPL FB GOOG AMZN ABX DIS NFLX TWTR TSLA according to Track Data.
12:39 EDTTSLATesla Motors August volatility flat on wide intra-day price movement
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09:38 EDTTSLAActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL FB JPM TSLA
09:14 EDTVLKAYVW CEO aiming for $6.8B in savings to boost profitability, Bloomberg says
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07:57 EDTVLKAYVolkswagen says new midsize SUV to be produced in Chattanooga, TN
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06:38 EDTGMGeneral Motors, VocallQ looking to develop voice-control systems, WSJ reports
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06:27 EDTF, NSANY, TM, GM, HMC, VLKAY, FIATYAutomakers backing U.S.-EU trade deal, NY Times reports
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July 14, 2014
18:04 EDTHMCHonda to shift production of outboard engines to China, Nikkei reports
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16:00 EDTTSLAOptions Update; July 14, 2014
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12:40 EDTGMDelphi confirms that it is not focus of investigation, Detroit News reports
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12:36 EDTGMDelphi not target of DOJ's switch investigation, Reuters reports
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11:49 EDTTSLAStocks with call strike movement; TSLA PBR
Tesla (TSLA) January 270 call option implied volatility increased 2% to 44, Petrobras (PBR) November 18 call option implied volatility increased 3% to 44 according to IVolatility.
11:27 EDTTSLAChina to require nearly third of state cars be electric, Bloomberg reports
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09:36 EDTTSLAActive equity options trading on open
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09:16 EDTVLKAYVolkswagen poised to invest $900M in Tennesee facility, WSJ says
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08:14 EDTF, GMFord should beat Q2 estimates while General Motors will miss, says UBS
UBS believes Ford (F) will beat Q2 estimates while General Motors (GM) will miss due to recall costs. Were it not for the recall charges, UBS thinks GM would post solid underlying results. UBS, which thinks Ford is likely to see a strong second half as product launch costs are already factored into guidance, raised its price target on the stock to $22 from $18. UBS increased its GM price target to $54 from $49. The firm keeps Buy ratings on both stocks.
07:55 EDTF, TMToyota halts production at South African plant, Bloomberg reports
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07:55 EDTNSANYNissan adds to bet on soccer with new sponsorship deal, FT says
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07:19 EDTGMProsecutors centering GM suit around deceptive statements, Reuters says
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06:43 EDTFFord ceases production at South African facility, Reuters says
Ford announced that it has temporarily ceased production at one of its South African facilities due to a strike at some of its suppliers, according to Reuters, citing comments from Ford spokeswoman Alicia Chetty. Chetty said that only Ford's Pretoria facility was affected while its other plant in Port Elizabeth was operating as usual. Reference Link
06:34 EDTGMGeneral Motors CEO to appear before Senate subcomittee this week, WSJ says
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06:31 EDTVLKAYVolkswagen expected to unveil details of new SUV for U.S. market, WSJ reports
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06:08 EDTTM, F, NSANYABI Research: Over 24M cars to be fitted with Apple CarPlay, DigiTimes says
ABI Research said that over 24M cars will be fitted with Apple (AAPL) CarPlay in 2019, reports DigiTimes. ABI Reserch said that the uptake in MirrorLink will also be fairly significant, but predicts more cars will be fitted with CarPlay. It cites several car makers to have the capabilities, including Ford (F), BMW, Audi, Mercedes, Jaguar/Land Rover, Toyota (TM), Nissan (NSANY), and Volvo (VOLVY). Reference Link
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