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Stock Market & Financial Investment News

News For GM From The Last 14 Days
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April 26, 2015
12:50 EDTGMApple, Celgene, others are 'top picks' for spring, Barron's says
In a survey of U.S. money managers, shares of Apple (AAPL), Dow Chemical (DOW), American Airlines (AAL), Celgene (CELG), General Motors (GM), and McDermott (MDR) were identified as top picks for this spring, Barron's contends in its cover story. Reference Link
April 24, 2015
10:00 EDTGMOn The Fly: Analyst Downgrade Summary
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08:23 EDTGMGeneral Motors downgraded at Buckingham
As previously reported, Buckingham downgraded General Motors to Neutral from Buy and reduced its price target to $37 from $42. The firm said GM's North America EBIT came in well below expectations despite the favorable pricing environment. Buckingham has concerns in GM's ability to maintain high truck average transaction prices, combined with already weak car average transaction prices, and has concerns about the international automotive business and pricing in China.
08:10 EDTGMGeneral Motors downgraded to Neutral from Buy at Buckingham
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April 23, 2015
13:01 EDTGMOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday amid another deluge of earnings reports. Stocks began the session in negative territory and have remained there through the morning before crossing into positive ground right near noon. The averages gapped up after making it back to the green, putting the Nasdaq back above the all-time closing record it achieved in 2000. A question for the afternoon will be whether the average can hold on to set a new all-time closing high fifteen years later. ECONOMIC EVENTS: In the U.S., initial jobless claims inched up 1K to 295K in the week ended April 18, versus the expected 287K first-time claims. Markit's flash manufacturing PMI fell 1.5 points to 54.2 in April, versus expectations for it to hold steady at 55.7. New home sales dropped 11.4% to a 481K rate in March, versus expectations for a less severe 4.5% drop to a 515K rate. COMPANY NEWS: Shares of Time Warner Cable (TWC) slid about 1% after The Wall Street Journal reported that the FCC's staff recommended a course of action that could derail the company's merger with Comcast (CMCSA). However, research firm Jefferies remained upbeat on Time Warner Cable shares, upgrading the stock this morning and saying that Charter (CHTR) would probably buy the company if the government nixes the Comcast deal... Among members of the Dow that issued earnings reports this morning, Caterpillar (CAT) slid fractionally while 3M (MMM) and Procter & Gamble (PG) each fell about 2%. MAJOR MOVERS: Among the notable gainers was ARRIS (ARRS), which jumped 21% after the company agreed to acquire its competitor Pace for aggregate stock and cash consideration of $2.1B. Also higher following their earnings reports were Skechers (SKX), which rose nearly 13%, and Dunkin' Brands (DNKN), which gained 8.5%. Among the noteworthy losers was MobileIron (MOBL), which plunged 22% after the company warned of a Q1 revenue miss and announced the resignation of its CFO. Also lower following their earnings reports were Texas Instruments (TXN), which fell 7%, and General Motors (GM), which declined nearly 4%. INDEXES: Near midday, the Dow was up 81.31, or 0.45%, to 18,119.58, the Nasdaq was up 22.69, or 0.45%, to 5,057.86, and the S&P 500 was up 10.32, or 0.49%, to 2,118.28.
10:51 EDTGMGM CEO: 'not going to entertain anything that distracts us from our plan'
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10:29 EDTGMGeneral Motors says $5B share buyback is 'first tranche' in repurchase strategy
Says working to quickly meet $20B cash target.
10:28 EDTGMGeneral Motors says wants to buy back shares 'as quickly as possible'
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10:11 EDTGMGeneral Motors sees automotive free cash flow flat to slightly up in 2015
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09:31 EDTGMGeneral Motors slips after earnings, levels to watch
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09:18 EDTGMOn The Fly: Pre-market Movers
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08:26 EDTGMGeneral Motors says 'on track' with 2015, 2016 financial commitments
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08:22 EDTGMGM Financial reports Q1 net income $150M
GM Financial announced net income of $150 million for the quarter ended March 31, 2015, compared to $145 million for the quarter ended March 31, 2014. Consumer loan originations were $4.1 billion for the quarter ended March 31, 2015, compared to $4.0 billion for the quarter ended December 31, 2014, and $3.4 billion for the quarter ended March 31, 2014. The outstanding balance of consumer finance receivables totaled $25.6 billion at March 31, 2015. Operating lease originations of General Motors Company vehicles were $3.0 billion for the quarter ended March 31, 2015, compared to $2.1 billion for the quarter ended December 31, 2014, and $773 million for the quarter ended March 31, 2014. Leased vehicles, net totaled $8.9 billion at March 31, 2015. The outstanding balance of commercial finance receivables was $7.6 billion at March 31, 2015 compared to $8.1 billion at December 31, 2014 and $7.1 billion at March 31, 2014. Consumer finance receivables 31-to-60 days delinquent were 3.4% of the portfolio at March 31, 2015, compared to 3.1% at March 31, 2014. Accounts more than 60 days delinquent were 1.4% of the portfolio at March 31, 2015 and 2014. Annualized net credit losses were 1.8% of average consumer finance receivables for the quarters ended March 31, 2015 and 2014.
07:56 EDTGMGeneral Motors CFO says earnings miss due to South America, taxes
General Motors CFO Chuck Stevens said "about half" of its earnings miss was driven by difficulties in South America and that its tax rate was also a contributing factor. Stevens is speaking on CNBC.
07:41 EDTGMGeneral Motors drops 3% to $35.90 after Q1 results miss estimates
Shares of GM (GM) peer Ford (F) are down 1% while Fiat Chrysler (FCAU) is down 2%.
07:39 EDTGMGeneral Motors says Q1 headline EPS of 56c included $500M of items
General Motors said its Q1 EPS 56c included special items of $0.4B related to the decision to change the company’s business model in Russia and $0.1B for an adjustment to the estimated costs of the ignition switch compensation program.
07:37 EDTGMGeneral Motors ended Q1 with $34.2B in total automotive liquidity
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07:36 EDTGMGeneral Motors Q1 automotive cash flow $0 vs. $2B last year
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07:33 EDTGMGeneral Motors reaffirms outlook for 2015
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07:32 EDTGMGeneral Motors reports Q1 EPS ex-items 86c, consensus 97c
Reports Q1 revenue $35.7B, consensus $37.61B.
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