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Stock Market & Financial Investment News

News Breaks
April 28, 2014
10:45 EDTFIATY, NSANY, TM, GM, VLKAY, HMC, FFord advances after Citi recommends buying shares
Shares of Ford (F) are rising after Citigroup recommended buying the stock following its recent decline. WHAT'S NEW: Ford's first quarter results, which the company reported on April 25, were solid, wrote Citigroup analyst Itay Michaeli in a note to investors earlier today. Although Ford took a charge related to its North American warranties, the charge should not worry investors, the analyst contended. Ford chose to take the charge, which caused its profit to miss expectations, not because of a specific problem but in an attempt to be prudent, the analyst contended. Even if auto makers have to take more warranty charges in response to GM's (GM) difficulties, these charges should not significantly affect the companies' results, Michaeli added. Meanwhile, aside from the warranty charge, Ford's results were "mostly good," he wrote. The analyst kept a $19 price target and Buy rating on the stock. OTHERS TO WATCH: Other publicly traded auto makers include Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). PRICE ACTION: In mid-morning trading, Ford advanced 22c, or 1.4%, to $16.
News For F;GM;NSANY;HMC;TM;FIATY;VLKAY From The Last 14 Days
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May 25, 2015
20:10 EDTGMFiat Chrysler CEO sent email to GM's Barra to suggest merger, NYT says
Fiat Chrysler (FCAU) CEO Sergio Marchionne sent an email in March to General Motors (GM) CEO Mary Barra discussing a potential merger of the two companies, the New York Times reported Saturday, citing two people with knowledge of the matter. Sources said Barra flatly rejected the idea, and also rejected Marchionne's offer to discuss the subject in person. Reference Link
17:55 EDTGMProsecutors nearing criminal charges for GM, WSJ says
The Manhattan U.S. attorney’s office has concluded that General Motors made misstatements about faulty ignition switches for over a decade and will likely pursue a fine exceeding $1B, reports The Wall Street Journal, citing people familiar with the matter. Sources said prosecutors have still not determined whether to charge individual GM employees. GM will probably strongly oppose a guilty plea, said one of the sources. Reference Link
May 22, 2015
18:01 EDTGMGeneral Motors stock is significantly undervalued, Barron's reports
General Motors’ stock trades at 7.5 times forward earnings, and is about 55% cheaper than the broad market, making it significantly undervalued, Barron's reports. Reference Link
08:57 EDTVLKAYNokia CEO says good bids received but no rush on selling HERE, Retuers reports
Nokia (NOK) CEO Rajeev Suri said the company has received high quality bids for its HERE maps unit, while declining to comment on bidders, but added that the company is in no hurry to sell, reported Reuters, citing comments made in an interview with trade magazine European Communications. Prior reports have indicated that Daimler's (DDAIF) Mercedes-Benz, Volkswagen's (VLKAY) Audi and BMW (BAMXY) are partnering with private equity firm General Atlantic in their pursuit of the unit, while Uber is said to be teaming up with Baidu (BIDU) and Apax Partners to also pursue a bid. Reference Link
May 21, 2015
15:48 EDTGMU.S DOT extends federal oversight of General Motors
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12:47 EDTGMGabelli says 'just started buying' General Motors in last 60 days
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09:15 EDTVLKAYGerman automakers partnering with PE firm on bid for Nokia unit, Reuters says
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May 20, 2015
06:06 EDTFFord's Turkish unit forced to cancel shift on supply chain issues, Reuters says
Ford's Turkish arm cancelled an extra work shift yesterday as labor unrest in Turkey's automotive sector hit the supply chain, Reuters reports. Ford Otosan commented, "As it was not possible to supply parts from intermediate product makers in Bursa, the preplanned extra working shift has been cancelled." Reference Link
06:00 EDTF, HMC, TM, GM, NSANYTakata to widen airbag recall to nearly 34M, enters Consent Order
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May 19, 2015
14:31 EDTGMCovisint expands strategic relationship with Cisco, General Motors
Covisint (COVS) announced that it has reached a definitive agreement with Cisco (CSCO) to use the Covisint platform to power General Motors (GM) OnStar and SupplyPower through 2020. Under the terms of this five-year, non-cancelable contract, GM will materially increase their use of the Covisint platform to support growth in these solutions. This economically favorable transaction is a major milestone in the strategic partnership with Cisco, and a win for General Motors, Cisco and Covisint.
13:20 EDTNSANY, HMC, F, GM, TMTakata expected to recall 33.8M vehicles, Detroit News reports
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07:36 EDTHMC, F, VLKAY, GM, TMAutomakers to start V2V car rollouts with spectrum at a premium, WSJ says
General Motors' (GM) upcoming Cadillac CTS is the only car firmly scheduled to launch in the U.S. with vehicle-to-vehicle communications, or V2V, but the industry has promised that V2V will revolutionize safety and Cisco (CSCO) joined automakers earlier this month to brief the FCC on plans to test airwave sharing soon, said The Wall Street Journal. However, cable and telecom companies are pressuring carmakers to give up a part of the airwaves marked for V2V to be available for broader use, the report added. Publicly traded automakers include Fiat Chrysler (FCAU), Ford (F), Honda (HMC), Toyota (TM) and Volkswagen (VLKAY), while cable and telecom companies include Verizon (VZ), AT&T (T), Sprint (S), T-Mobile (TMUS), Comcast (CMCSA), Time Warner Cable (TWC) and Charter (CHTR). Reference Link
07:08 EDTGMGeneral Motors sees maintaining profitability goals in China, WSJ reports
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May 18, 2015
12:33 EDTNSANY, F, HMCMarathon Patent unit enters into settlement agreement with Jaguar Land Rover
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09:54 EDTNSANY, TM, GM, VLKAY, HMC, FNHTSA looks to accelerate V2V rollout by automakers, Motor Authority says
Automakers have been notified that initial proposals for the implementation of vehicle-to-vehicle technology will be outlined by before January 1, 2016, which would be a full year ahead of schedule, according to Motor Authority. Publicly traded automakers include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Mobileye (MBLY) makes chips utilized in advanced driver assistance systems. Reference Link
06:57 EDTNSANYNissan won't change capital alliance with Renault, Reuters says
Nissan CEO, Carlos Ghosn, stated that the company will not change its capital alliance with Renault, after France increased its stake and voting rights in Renault, reports Reuters. Reference Link
06:26 EDTTM, GM, NSANY, HMC, FStudy shows Toyota and Honda leads in best supplier relations, Reuters says
A new study revealed that Toyota (TM) and Honda (HMC) led automakers with U.S. plants in supplier relations, reports Reuters. According to the study led by Planning Perspectives President John Henke, Toyota led Honda while Ford (F) was a distant third and Nissan (NSANY) came in fourth. General Motors (GM) and Fiat Chrysler (FCAU) were last on the list. Reference Link
05:56 EDTNSANYNissan CEO says its autonomous cars will be ready by 2020, AP reports
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05:16 EDTHMCRaytheon secures contract with Honda in Europe
Raytheon Professional Services GmbH, or RPS, a subsidiary of Raytheon (RTN), has signed a long-term contract with Honda Motor Europe Limited (HMC) for the outsourcing of all development of their Pan-European dealer training, as well as domestic training delivery operations in the UK and Germany. As part of the contract, RPS will manage Pan-European curriculum content development, product launch training and Learning Management System administration and support. RPS' training services will cover Honda's complete product range including Cars, Motorcycles and Power Products, and will extend to all sales, aftersales, technical, and management personnel. The contract also includes the outsourcing and management of Honda's accredited apprenticeship program, across the whole product range, in the UK. Students will be able to achieve either an Intermediate or Advanced apprenticeship through the program.
May 17, 2015
16:18 EDTNSANY, TM, HMCJapanese carmakers delay Takata restructuring until post-recall, Reuters says
Japanese automakers including Honda (HMC), Nissan (NSANY), and Toyota (TM) are delaying pressure for a restructuring at Takata (TKTDY) until the company ships out a healthy supply of replacement parts, reports Reuters, citing Masaki Higurashi, deputy director of the Japanese trade ministry's auto division. "After all the replacement parts are supplied, the automakers have to decide whether to let Takata stay on as it is... I think the automakers are starting to think about that," added Higurashi. Reuters notes that Takata and the carmakers disagree on whether the most recent round of airbag recalls are necessary, and as a result have not reached an agreement on costs. Reference Link
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