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Stock Market & Financial Investment News

News For GM;VLKAY From The Last 14 Days
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February 4, 2016
12:55 EDTGMU.S. investigating death of GM worker at Ohio plant, Automotive News reports
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10:39 EDTGMGM's Opel unit to build new spare parts distribution center in Bochum
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07:46 EDTGMJPMorgan tells GM investors 'the sky is not falling'
JPMorgan analyst Ryan Brinkman views General Motors' Q4 results as strong and says cycle fears are overblown. GM highlighted several industry and company-specific factors that would mitigate the profit impact of any downturn in car sales, Brinkman tells investors in a post-earnings research note. He raised his estimates to the high-end of the automaker's guidance and tells investors "the sky is not falling" following yesterday's stock selloff. Brinkman reiterates an Overweight rating on GM with a $47 price target. The shares closed yesterday down 27c, or 2%, to $28.93.
February 3, 2016
16:40 EDTGMOn The Fly: Top stock stories for Wednesday
Stocks began the session in positive territory but were unable to hold their early gains. Following larger than expected builds in energy inventories, oil moved lower, taking equities with it. By the noon hour oil prices recovered and moved higher once again, helping to lift equities. While oil prices continued their advance and moved up more than 7%, stocks lagged, especially the Nasdaq, which was down as much as 1.5% this afternoon. That changed in the last hours of trading, which saw the Dow spurt higher and the Nasdaq recover most of its losses heading into another heavy dose of corporate earnings reports after the close. ECONOMIC EVENTS: In the U.S., ADP estimated that private payrolls grew by 205,000 jobs in January, topping the consensus forecast for 190,000 job additions. Markit's services PMI came in at 53.2, versus the consensus 53.7 forecast. The Institute for Supply Management's non-manufacturing index came in at 53.5 for January, down from 55.3 in the previous month and below the 55.1 reading forecast by analysts. In Asia, the Caixin services PMI for China climbed to 52.4 in January from 50.2 in December, while Japan's services PMI rose to 52.4 from 51.5 in the prior month. Additionally, China's National Development and Reform Commission set its economic growth projection range for this year at 6.5%-7%, noting that attempts to curb overcapacity will increase unemployment in provinces with high output of steel and coal. In Europe, Markit's composite purchasing managers index for January declined to 53.6 from 54.3 in December. COMPANY NEWS: Shares of Yahoo (YHOO) declined 4.75% to $27.68 after the embattled Internet company reported fourth quarter results and announced plans to simplify its product portfolio and reduce its workforce by roughly 15%. Maynard Webb, Yahoo's chairman, said the board is committed to its turnaround efforts and supportive of management's plan, but also believes that exploring additional strategic alternatives is in the best interest of its shareholders... Chipotle Mexican Grill (CMG) fell 2.89% to $461.92 after reporting lower than expected revenue and a 14% plunge in same-store sales for the quarter. Adding to the negative headlines, the restaurant operator also disclosed a subpoena broadening the scope of a criminal investigation that was previously limited to a single Chipotle location in California. Also punished by food safety worries were shares of Buffalo Wild Wings (BWLD), which slid 4.24% to $143.64 after one of its restaurants was named a suspected source of new norovirus-like cases in suburban Kansas City, though the company disputed a link between its location and the illnesses. The stock continued to move lower in after-hours trading following the company's earnings report and lower than expected guidance... Merck (MRK) was one of the worst performers on the Dow, dipping to as low as $48.58 before ending the day down 0.7% at $50.04 after its earnings narrowly topped estimates but guidance for the new year fell short of expectations. Among other large cap names reporting earnings this morning, Comcast (CMCSA) rose 5.95% following its report, while General Motors (GM) slid 2.43%. MAJOR MOVERS: Among the notable gainers was Autodesk (ADSK), which rallied 8% to $49.56 after announcing a restructuring plan that will see its workforce cut by roughly 10%. Also higher was Angie's List (ANGI), which jumped 13.53% to $9.48 after the New York Post reported that InterActiveCorp (IAC) is preparing a "big run" to acquire the company. In addition, Syngenta (SYT) rose 2% to $80.21 after receiving a $43B-plus takeover offer from ChemChina. Among the noteworthy losers was Lowe's (LOW), which fell 6.2% to $67.42 after agreeing to acquire Canada's RONA in a deal valued at $2.3B. Also lower was Barnes & Noble (BKS), which declined 9.6% to $7.32 after mall operator General Growth (GGP) said during a conference call that Amazon (AMZN) plans to open 300-400 physical bookstores. After the closing bell, General Growth CEO Sandeep Mathrani indicated that his previous statement "was not intended to represent Amazon's plans." Meanwhile, Marathon Petroleum (MPC), Mondelez (MDLZ) and Match Group (MTCH) lost 7.6%, 6.5% and 12.6%, respectively, following their quarterly reports. INDEXES: The Dow rose 183.12, or 1.13%, to 16,336.66, the Nasdaq fell 12.71, or 0.28%, to 4,504.24, and the S&P 500 advanced 9.50, or 0.5%, to 1,912.53.
10:40 EDTGMGeneral Motors sees sustained strong performance in N.A. in 2016
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10:24 EDTGMGM sees Q1 'seasonally weaker,' Q2 and Q3 'stronger'
Says expects similar cadence of earnings as past several years, with Q1 seasonally weaker, Q2 and Q3 stronger and Q4 "about average." Says global pension plans are approximately 78% funded, U.S. pension plans approximately 85% funded.
10:22 EDTGMGeneral Motors sees 'lower for longer' gas prices
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10:21 EDTGMGM sees delivering profit growth, margin expansion, increased FCF for 2016
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10:14 EDTGMGM CEO: Industry fundamentals support continued strong U.S. industry
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08:44 EDTGMGM Financial reports Q4 net income $131M vs. $59M last year
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07:57 EDTGMGeneral Motors CFO says 2015 'not as good as it gets'
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07:36 EDTGMGeneral Motors reports Q4 North Amercia EBIT-adjusted of $2.8B
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07:33 EDTGMGeneral Motors backs FY16 adjusted EPS view of $5.25-$5.75, consensus $5.46
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07:33 EDTGMGeneral Motors CEO says 2015 a 'strong year on many fronts'
It was a strong year on many fronts, capped with record sales and earnings, and a substantial return of capital to our shareholders. We continue to strengthen our core business, which is laying the foundation for the company to lead in the transformation of personal mobility. We believe the opportunities this will create in connectivity, autonomous, car-sharing and electrification will set the stage for driving value for our owners for years to come," said Chairman and CEO Mary Barra.
07:31 EDTGMGeneral Motors reports Q4 EPS $1.39, consensus $1.21
Reports Q4 revenue $39.6B, consensus $39.03B.
07:18 EDTGMGM to sell compact sedan in India in 2017, Reuters reports
General Motors said it intends to manufacture and sell its first compact sedan in India in 2017, Reuters reports. The car maker said the Essentia is part of a strategy involving raising the proportion of parts bought locally as well as cost reduction in an effort to raise its share of India's market to roughly 3.6%, the report says. Reference Link
06:59 EDTVLKAYVW submits California plan to repair recalled diesel vehicles, Reuters says
The California Air Resources Board and EPA said that Volkswagen has submitted a plan to repair 80,000 recalled 3-liter diesel vehicles that emit up to nine times legally allowed pollution, Reuters reports. Reference Link
February 2, 2016
16:23 EDTGMOn The Fly: Top stock stories for Tuesday
Stocks began the session in negative territory and remained there throughout the entire session. The early weakness was attributed to oil prices, which were down early and never recovered during the day. The losses of more than 5% brings the loss over the past two days to more than 10%, pushing WTI crude back below $30 a barrel and squashing equities in the process. Any hope that oil prices would de-couple from stock prices will have to wait another day as the two continue to move in lockstep with each other. Even a solid earnings report from tech bellwether Alphabet (GOOG) could not help the market. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. In Europe, statistics agency Eurostat reported that unemployment across the eurozone decreased by 49,000 to a total of 16.75M in December dropping the unemployment rate to its lowest since September 2011 at 10.4%. In central bank news, the Reserve Bank of Australia and Reserve Bank of India both held their benchmark interest rates steady, as expected. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced 1.3% to $780.91 after its better than expected quarterly results were followed by analysts around Wall Street hiking their price targets for shares, including Deutsche Bank analyst Ross Sandler, who raised his target on the parent of Google to $1,080 from $900... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.2% to $74.61 amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8.5% to $29.02 in New York trading after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring... Ford (F) shares fell 4.6% after the company reporting that its U.S. sales declined 3% last month versus a year ago. Peer General Motors (GM) slid 1.5% after reporting that its U.S. sales grew 0.5% in January... Dow Chemical (DOW) jumped 5.75% to $45.03 after posting better than expected earnings and revenue. Of note, Dow CEO Andrew Liveris said he plans to transition out of the company when it completes its planned merger with DuPont (DD). MAJOR MOVERS: Among the notable gainers were Michael Kors (KORS) and Mattel (MAT), which rose nearly 24% and almost 14%, respectively, following their earnings reports. Also higher was Pacific Biosciences (PACB), which jumped 24% to $12.67 after Reuters said Roche (RHHBY) has recently approached the company to discuss a potential acquisition. Among the noteworthy losers following earnings were Integrated Device (IDTI), which fell 26.8%, ADT (ADT), which dropped 15.7%, and Royal Caribbean (RCL), which declined 15.2%. INDEXES: The Dow fell 295.64, or 1.8%, to 16,153.54, the Nasdaq lost 103.42, or 2.24%, to 4,516.95, and the S&P 500 declined 36.35, or 1.87%, to 1,903.03.
14:32 EDTGMNotable companies reporting before tomorrow's open
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14:14 EDTGMGeneral Motors technical comments ahead of earnings
The $29 level is an important one for the shares, having held with a few notable exceptions as support since early 2013. If there is negative news and a breakdown below $29, it would be bearish for share price. Support levels to watch as potential downside objectives would be at $28.19, $27.03, and $26.07. The 52-week low is at $24.62. If the news is a positive surprise, resistance levels to watch as potential upside objectives would be at $30.11, $32.10, and $34.
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