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Stock Market & Financial Investment News

News Breaks
October 4, 2012
07:42 EDTNSANY, TM, FIATY, VLKAY, TSLA, F, HMC, DDAIF, GMAs sales growth slows in India, car makers suffer, Bloomberg reports
In India, car sales are being hurt by slow growth, reports Bloomberg. The Society of Indian Automobile Manufacturers may cut this year's forecast for sales growth for a second time, following a reduction from about 12% to 9% in July. That’s weak growth for a market that doubled in size from 2008 to 2011, according to Bloomberg Industries data. And with sales slowing in Europe and China, car makers continue to look for signs of growth beyond the U.S. market. Reference Link
News For FIATY;GM;F;TM;DDAIF;TSLA;NSANY;HMC;VLKAY From The Last 14 Days
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January 21, 2015
13:54 EDTGMJPMorgan could lose $1.5B as a result of 2008 error, Reuters says
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13:53 EDTTM, F, GM, HMC, NSANYGoldman cuts rating on auto dealers citing below consensus U.S. sales view
Goldman Sachs lowered its outlook on auto dealers to Cautious from Neutral, citing several factors, including its belief that U.S. auto sales growth will be "essentially flat" this year. The firm also downgraded its rating on one of the companies in the sector, AutoNation (AN), to Neutral from Buy and removed the stock from its Americas Buy List. WHAT'S NEW: U.S. auto sales will probably rise less than 1% this year on a seasonally adjusted basis, Goldman analyst Patrick Archambault wrote in a note to investors today. Archambault indicated that his U.S. auto sales estimate is significantly below analysts' consensus outlook. Incentive deals and sales to subprime customers last year will probably negatively affect sales growth this year, the analyst stated. Additionally, the growth of dealers' revenue from parts and service is likely to slow this year after a series of major auto recalls were carried out last year, Archambault warned. Dealers may also be hurt by the regulation of auto lenders by the Consumer Financial Protection Bureau, since lenders and dealers split the profits from interest rate markups, the analyst stated. Finally, dealers are trading at a valuation that is 13% above their ten year average, according to Archambault. The analyst cut his rating on AutoNation to Neutral from Buy, based partly on valuation and his belief that the stock's near-term catalysts have diminished after it implemented a rebranding strategy and enhanced its digital systems. Over the medium term, the company's growth prospects will be limited by weak U.S. auto sales growth this year, added Archambault. However, the analyst continues to identify AutoNation as his favorite auto dealer stock. Other auto dealers covered by the analyst include Penske (PAG), which he rates Neutral, and Group 1 (GPI) and Sonic Automotive (SAH), both of which are rated Sell by the analyst. WHAT'S NOTABLE: Automakers whose shares could be negatively affected if the analyst's forecast for anemic U.S. sales growth proves to be accurate include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). PRICE ACTION: In mid-afternoon trading, AutoNation lost 1.2% to $57.12, Sonic Auto lost 1% to $25.18, Group 1 fell 2.5% to $77.40, and Penske climbed 1% to $47.09.
09:16 EDTTSLAOn The Fly: Pre-market Movers
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09:11 EDTTSLATesla faces risks from Musk ambition, says Morgan Stanley
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06:52 EDTFRegulators deciding whether Ford should widen recall, Reuters says
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January 20, 2015
18:45 EDTTSLASpaceX raises $1B, Google, Fidelity to own slightly under 10%, Bloomberg says
Elon Musk's Space Exploration Technologies Corp. has sold an approximately 10% stake to Google (GOOG) and Fidelity for $1B, Bloomberg reports. Reference Link
16:34 EDTTSLASpacex has raised $1B, Google and Fidelity to own slightly under 10%
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12:51 EDTVLKAY, TMToyota sees 2015 global sales dropping to about 10.15M units, Nikkei says
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10:21 EDTTSLATesla slips, levels to watch
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08:59 EDTGMGM receives 108 new ignitition claims, $400M earmarked for cases, Reuters says
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05:23 EDTFFord Mustang now available in China
For the first time in its 50-year history, Mustang will be available to customers around the world in more than 100 markets. First shipments of the highly anticipated Mustang are headed for Asia, with vehicles arriving in Europe midyear. The all-new Mustang – assembled in Flat Rock, Michigan – now joins other Ford and Lincoln vehicles exported to countries abroad. In 2013, Ford shipped more than 380,000 vehicles from the United States.
January 19, 2015
17:57 EDTTSLAGoogle near $1B investment in SpaceX, WSJ reports
Google is near an agreement to invest $1B in Elon Musk's SpaceX, Wall Street Journal reports, citing a person familiar with the matter. The investment would value SpaceX at more than $10B, the Journal adds. The Information earlier today reported Google was near an investment in SpaceX, but did not specify the amount. Reference Link
12:29 EDTTSLAGoogle near investment in Musk's SpaceX, The Information reports
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January 18, 2015
17:46 EDTFNHTSA probes Ford recall of its Super Duty pickups, Bloomberg says
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January 16, 2015
16:00 EDTTSLAOptions Update; January 16, 2015
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09:37 EDTTSLAActive equity options trading
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08:14 EDTFFord to boost production at German assembly plants, WSJ reports
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07:53 EDTTSLAChanos says he is 'potential purchaser' of Tesla shares
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06:29 EDTGMJudge rules GM lawyer notes protected by attorney-client privilege, Reuters says
U.S. District Judge Jesse Furman ruled that plaintiffs’ lawyers suing General Motors could not access notes prepared by the company's lawyers, to prepare an internal report on the ignition-switch flaw, due to those notes being protected under attorney-client privilege, reports Reuters. Reference Link
06:11 EDTFIATYEU says Amazon's tax deal with Luxembourg may violate laws, WSJ reports
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