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Stock Market & Financial Investment News

News Breaks
December 19, 2012
08:08 EDTGMTreasury to fully exit stake in GM within 12-15 months
The U.S. Department of the Treasury plans to fully exit its entire holdings of GM stock within 12 to 15 months, subject to market conditions. Treasury has announced its intention to sell its remaining shares of common stock into the market through various means and in an orderly fashion. GM will purchase 200M shares of GM common stock held by Treasury for $5.5B, or $27.50 per share, with plans for that buyback to close by the end of 2012. After the repurchase, Treasury will continue to own approximately 300M shares of GM common stock, or approximately 19 percent of the outstanding shares on a fully diluted basis. Treasury intends to begin its disposition of its remaining shares as soon as January 2013, consistent with a pre-arranged written trading plan. In addition, Treasury has agreed to relinquish certain governance rights that were included in the U.S. Treasury Secured Credit Agreement with GM.
News For GM From The Last 14 Days
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April 9, 2014
06:40 EDTGMCar sales rose 9% last month in China, China Daily says
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06:32 EDTGMGeneral Motors downgraded to Underweight from Equal Weight at Morgan Stanley
Morgan Stanley downgraded General Motors based on expectations the industry will be pressured by increasing technology capex needs. The analyst believes GM will need to invest heavily into connected vehicles, advanced power trains and eventually autonomous cars which will pressure margins and earnings. The firm views valuation as fair but not on a relative basis vs. its coverage universe and assigned an Underweight rating on shares with a $33 price target.
06:00 EDTGMGeneral Motors workers in Kentucky vote to allow strike, AP reports
GM's auto workers at its Bowling Green, Kentucky plant have voted to authorize a strike over safety concerns, the Associated Press reports. More than 90% of the eligible union workers voted to call a strike if necessary. Reference Link
April 8, 2014
18:56 EDTGMOn The Fly: After Hours Movers
NOTABLE: General Motors (GM) was fined by the National Highway Traffic Safety Administration for failing to respond to the agency's inquiry into the company's recall of faulty ignition switches in a timely manner... According to a report by The Wall Street Journal, Goldman Sachs (GS) executives have broached the subject of closing its dark pool trading operation, Sigma X. HIGHER: Constant Contact (CTCT), up 13% after giving a preliminary first quarter revenue outlook that beat estimates and raising its fiscal 2014 revenue guidance... Alcoa (AA), up 2.5% after reporting adjusted profit that beat estimates on revenue that missed expectations. LOWER: Intuitive Surgical (ISRG), down 9.5% after giving a first quarter revenue outlook that widely missed expectations and saying it will take a $67M charge in the quarter related to legal settlements.
18:23 EDTGMGeneral Motors planning lower-priced Chevy Volt, Reuters says
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17:14 EDTGMGeneral Motors fined $28,000 by NHTSA for timeliness of response to inquiry
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17:06 EDTGMGeneral Motors fined $28,000 by NHTSA, reports CNBC
12:33 EDTGMGeneral Motors to invest $449M in support of electric vehicles
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09:32 EDTGMGeneral Motors appears oversold, says RBC Capital
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07:31 EDTGMGM workers in Bowling Green to hold vote on strike, AP reports
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07:17 EDTGMChina car sales up 9% as curbs spark early purchases, Bloomberg says
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07:14 EDTGMGM SUVs earn top scores among rivals in crash test, Bloomberg says
The Insurance Institute for Highway Safety said GM's (GM) Chevrolet Equinox and GMC Terrain earned the highest scores among mid-size sport-utility cars in a test made to simulate one of the deadliest kinds of front-end crashes, according to Bloomberg, citing a statement from IIHS's Chief Research Officer David Zuby. Toyota's (TM) Highlander earned an "acceptable" rating, while the other six cars that were tested were given a "marginal" or "poor" rating. Reference Link
April 7, 2014
17:25 EDTGMGeneral Motors to invest $450M in electric cars, WSJ says
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14:16 EDTGMGroup says General Motors' Impala could have air bag defect, Bloomberg reports
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11:17 EDTGMGeneral Motors upgraded to Buy from Hold at Standpoint Research
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06:35 EDTGMGM investors keep faith as recall reduces $3B in value, Bloomberg says
A variety of institutional investors in GM say they still feel confident in the stock after the recall crisis reduced more than $3B in shareholders’ value over four weeks, reported Bloomberg. Reference Link
06:29 EDTGMGeneral Motors considers range of options for victim-compensation, WSJ says
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April 6, 2014
18:12 EDTGMGM to begin fixing faulty ignition switches, WSJ says
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16:07 EDTGMGM's Opel brand planning compact electric car by 2017, Reuters says
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14:53 EDTGMMcCaskill says GM ignition case could lead to criminal charges, Reuters says
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