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Stock Market & Financial Investment News

News Breaks
January 3, 2014
12:54 EDTGM, F, TMGeneral 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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October 15, 2014
13:27 EDTGMGM faces $10B suit due to recalls, Bloomberg says
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10:16 EDTGMGeneral Motors reports Q3 worldwide sales up 2% to 2.45M units
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06:54 EDTTMWatchdog says Toyota JV issued recall for over 93K vehicles, Reuters says
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06:44 EDTTMToyota issues recall for 1.67M cars due to brake defect, Reuters says
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October 14, 2014
18:12 EDTTMToyota to manufacture SUVs in Turkey starting in 2016, Nikkei reports
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10:01 EDTF, GMOn The Fly: Analyst Downgrade Summary
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10:01 EDTFOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Sell at UBS... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... BHP Billiton (BHP) upgraded to Neutral from Underperform at Credit Suisse... Bill Barrett (BBG) upgraded to Buy from Accumulate at KLR Group... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... CRH Plc. (CRH) upgraded to Buy from Neutral at Citigroup... Comstock Resources (CRK) upgraded to Buy from Accumulate at KLR Group... Cracker Barrel (CBRL) upgraded at Argus... Delphi Automotive (DLPH) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded at Bernstein... Eaton (ETN) upgraded to Overweight from Equal Weight at Barclays... Energizer (ENR) upgraded to Outperform from Market Perform at Wells Fargo... Energy Transfer Equity (ETE) upgraded to Outperform at RW Baird... Federal-Mogul (FDML) upgraded to Neutral from Sell at Goldman... Ford (F) upgraded to Neutral from Underperform at Buckingham... Gulfport Energy (GPOR) upgraded to Accumulate from Hold at KLR Group... Halcon Resources (HK) upgraded to Buy from Hold at KLR Group... HeartWare (HTWR) upgraded to Overweight from Neutral at Piper Jaffray... Helmerich & Payne (HP) upgraded to Outperform at FBR Capital... Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill... Level 3 (LVLT) upgraded to Buy from Hold at Gabelli... Magnum Hunter (MHR) upgraded to Buy from Hold at KLR Group... NetScout (NTCT) upgraded at DA Davidson... Netflix (NFLX) upgraded to Buy with $600 target at BTIG... Newfield Exploration (NFX) upgraded to Buy from Hold at KLR Group... Nielsen (NLSN) upgraded at Bernstein... Orbitz (OWW) upgraded to Outperform from Market Perform at FBR Capital... PDC Energy (PDCE) upgraded to Buy from Hold at KLR Group... Rackspace (RAX) upgraded to Buy from Hold at Evercore... Range Resources (RRC) upgraded to Accumulate from Hold at KLR Group... Rex Energy (REXX) upgraded to Buy from Accumulate at KLR Group... SM Energy (SM) upgraded to Buy from Accumulate at KLR Group... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Targa Resources (TRGP) upgraded to Buy from Accumulate at Tudor Pickering... Unilife (UNIS) upgraded to Buy from Neutral at Ladenburg... Universal Forest (UFPI) upgraded at Sterne Agee.
07:24 EDTFFord upgraded to Neutral from Underperform at Buckingham
06:20 EDTGMGeneral Motors downgraded to Buy from Conviction Buy at Goldman
Goldman removed General Motors from the Conviction Buy List and lowered estimates to to cuts in North American and European production and a difficult pricing environment. The firm maintains its Buy rating and views risk/reward as favorable and expects reasonably strong comps over then next two quarters. Price target lowered to $47 from $48.
06:15 EDTFFord downgraded to Neutral from Buy at Goldman
Goldman downgraded Ford to Neutral citing lack of near-term catalysts and less balance sheet optionality. Price target lowered to $17 from $21.
05:34 EDTTMToyota reports September global hybrid sales surpassed 7M unit mark
Toyota announced global hybrid sales surpassed the 7M unit mark in September. Toyota achieved this latest million-unit hybrid milestone at the record pace of nine months. Including hybrid vehicles launched this year, Toyota will introduce at total of 15 new hybrids globally through 2015. Hybrids launched this year comprise the Lexus Voxy Hybrid and Noah Hybrid in Japan only, and the Lexus NX 300h. This month Toyota will introduce the Lexus RC 300h. Toyota plans to continue expanding its hybrid lineup and increase the number of countries and regions where it sells hybrid vehicles.
October 13, 2014
12:10 EDTGMGM lawyer says 27 people eligible for ignition switch compensation, AP reports
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11:00 EDTFFord adding 850 more jobs at Ford Rouge Center to build new F-150
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10:23 EDTFFord to hire 850 workers for Dearborn Rouge factories, WSJ says
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07:02 EDTFFord and Carfax expand partnership
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06:44 EDTF, TM, GMRegulators seeking banks' auto loan data, Reuters reports
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October 12, 2014
17:21 EDTGMTesla ahead of other car makers on semiautonomous driving system, WSJ says
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October 10, 2014
07:17 EDTFCitigroup and the Society of Automotive Analysts to co-host a summit
Automotive Investor Summit is being held in Southfield, Michigan on October 10.
06:44 EDTFFord reports China unit sold 95,875 vehicles in September, Reuters says
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06:12 EDTGMGeneral Motors reports September China sales up 15.2% to 319,936
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