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Stock Market & Financial Investment News

News Breaks
January 3, 2014
12:54 EDTTM, F, GMGeneral Motors retreats after December sales decline
Shares of General Motors (GM) are lower after the auto maker reported that its U.S. sales had fallen 6.3% in December, versus the same period in 2012. WHAT'S NEW: GM stated earlier today that its U.S. auto sales had declined 6.3% to about 230,000 vehicles in December. The weather and a drop-off following strong sales in November both negatively impacted its December sales, the company said. Additionally, GM stated that a couple of its Japanese competitors had offered "aggressive" incentives to consumers last month. WHAT'S NOTABLE: The sales of GM's main domestic competitor, Ford (F), rose just 1.8% in December, versus the same period in 2012, to about 218,058 vehicles. Toyota (TM) saw its U.S. auto sales fall 1.7% to 190,843 units last month. ANALYST REACTION: In a note to investors, Buckingham analyst Joseph Amaturo recommended buying additional shares of GM at current levels, despite the decline in the company's December sales. GM's redesigned full-size trucks will significantly improve the company's earnings and cash flow in 2013 and 2014, the analyst contended. Another potential catalyst for GM is a possible announcement of a share buyback initiative by the company ,added the analyst, who kept a $50 price target and Buy rating on the shares. But Amaturo is not as upbeat on Ford, as he believes that the company could report weaker than expected 2014 results due to price declines in North America and weaker production of its F-series trucks. The analyst kept a $12 price target and Underperform rating on Ford, and recommended that investors rotate out of Ford and into GM. PRICE ACTION: In early afternoon trading, GM dropped nearly 3% to $39.75 and Ford gained 1% to $15.61.
News For GM;F;TM From The Last 14 Days
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December 15, 2014
13:16 EDTGM, TM, FUAW head looking for wage hikes in new contract, Automotive News says
Veteran auto workers should get a wage increase in a new contract, while the compensation of newly hired employees should move closer to that of longer serving workers, UAW President Dennis Williams said today, according to Automotive News. Williams said he is not considering launching a strike when the auto workers' contact ends in September, the website added. Publicly traded companies in the space include Fiat S.p.A. (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).Reference Link
11:30 EDTGMGeneral Motors management to meet with Sterne Agee
Meeting to be held in New York on December 19 hosted by Sterne Agee.
10:00 EDTFOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: UPS (UPS) downgraded to Hold from Buy at Deutsche Bank... CGG SA (CGG) downgraded to Underperform from Market Perform at Raymond James... Ford (F) downgraded to Hold from Buy at Deutsche Bank... Cenovus Energy (CVE) downgraded to Market Perform from Outperform at BMO Capital... Cobalt (CIE) downgraded to Neutral from Buy at Goldman... Gastar Exploration (GST) downgraded to Neutral from Buy at SunTrust... Itau Unitbanco (ITUB) downgraded to Neutral from Buy at Goldman... Methanex (MEOH) downgraded to Outperform from Strong Buy at Raymond James... OGE Energy (OGE) downgraded to Hold from Buy at Jefferies... SandRidge Energy (SD) downgraded to Neutral from Buy at SunTrust... Sempra Energy (SRE) downgraded to Neutral from Overweight at JPMorgan... HollyFrontier (HFC) downgraded to Neutral from Buy at BofA/Merrill... CNA Financial (CNA) downgraded to Market Perform from Outperform at William Blair... Allergan (AGN) downgraded to Hold from Buy at Stifel... RF Micro Devices (RFMD) downgraded to Neutral from Buy at DA Davidson.
06:55 EDTGM, TM, FTakata tightening restrictions on suppliers, Reuters reports
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06:53 EDTFFord downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank cut its rating on Ford Motor shares to Hold with the stock near its price target of $16. Deutsche says it is more cautious about investing in U.S. auto names with the market entering its sixth year of recovery. Shares of the car maker closed Friday down 29c to $14.99.
December 12, 2014
13:08 EDTFFord CEO sees "breakthrough" year in 2015, Automotive News says
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December 11, 2014
15:56 EDTFAutomaker lending arms probed by NYDFS, NY Post reports
The New York Department of Financial Services has subpoenaed the financing arms of Ford (F), Honda (HMC), Hyundai, Nissan (NSANY) and Volkswagen (VLKAY), as well as Banco Santander (SAN) and TD Bank (TD), said the New York Post, citing a source familiar with the investigation. Reference Link
13:19 EDTFMicrosoft dropped by Ford for in-car sync system, Re/code reports
Ford's (F) Sync 3 in-car entertainment and mapping system will use a version of BlackBerry's (BBRY) QNX operating system, replacing Microsoft (MSFT) technology that had been used in the prior two versions, Re/code reports. The QNX-powered system adds more features, including a capacitive touch screen and the ability to get software updates over Wi-Fi. Ford said in a statement that its "hardware and software decisions were based on identifying the technology that would best meet the expectations for performance by our customers." Reference Link
11:42 EDTFStocks with call strike movement; DOW F
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07:49 EDTGMThe New York Times to hold a conference
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06:30 EDTTMNissan recalling 1520,000 cars globally using Takata air bags, Reuters reports
Nissan (NSANY) is recalling 152,000 vehicles around the world that use Takata's (TKTDY) passenger site air bags, Reuters reports. The cars are being recalled after an "unusual deployment" of a Takata air bag in Japan, which also led to recalls by Toyota (TM). Reference Link
December 9, 2014
09:17 EDTFTeleTech to expand in China through Percepta joint venture
TeleTech Holdings (TTEC) announced plans to expand in China through Percepta, a global joint venture with Ford Motor (F). Providing service and support through all stages of the customer lifecycle, Percepta operates customer contact centers on five continents specifically for the automotive industry.
07:37 EDTFUBS to hold a conference
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December 8, 2014
11:10 EDTF, GM, TMVolkswagen sees challenging developments continuing for rest of year
Volkswagen (VLKAY) said, “The challenging developments on markets worldwide – above all in Eastern Europe and South America – will continue for the remainder of this year. The Volkswagen Passenger Cars brand handled these challenges successfully during the course of the year, but was not entirely immune to their impact.” Other publicly traded companies in the passenger automotive space include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), and Toyota (TM).
08:07 EDTFFord management to meet with UBS
Meeting to be held in Boston on December 8 hosted by UBS.
December 5, 2014
14:06 EDTGMGeneral Motors ticks key resistance at the $34 area
The $34 level played a role as major support through the year until the breakdown in share price in September. Today the stock is ticking that level once again. Powering through this level would be bullish, while a failure at $34 would be bearish. Resistance is at $35.14. Support is at $33.24.
10:33 EDTGMGeneral Motors recalls 2015 Chevrolet Colorado, GMC Canyon pickups, WSJ reports
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06:53 EDTFFord's China sales rose 2% in November, Reuters says
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06:27 EDTGMGM looking to sell 500K Cadillacs annually by 2020, Reuters reports
GM plans to increase global annual sales of its Cadillac brand to over 500,000 cars by 2020, Reuters quoted Cadillac President Johan de Nysschen as saying. Reference Link
December 4, 2014
06:51 EDTTMToyota to recall more vehicles to fix air bags, Reuters reports
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