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Stock Market & Financial Investment News

News Breaks
December 16, 2013
08:19 EDTGMNational Press Club to host General Motors Chairman & CEO
General Motors Chairman and CEO Dan Akerson plans to provide an update at a National Press Club Luncheon being held in Washington, D.C. on December 16 with luncheon at 12:30 pm and remarks at 1 pm.
News For GM From The Last 14 Days
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April 16, 2014
07:53 EDTGMGM creates product develop group to keep safety as primary focus, Reuters says
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06:41 EDTGMGM CEO says recalled cars being fixed, NY Times reports
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06:15 EDTGMGM looks for ban on lawsuits related to recall pre-2009, Detroit News reports
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06:12 EDTGMGeneral Motors to bring Chevy Trax SUV to the U.S., Detroit News reports
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April 15, 2014
10:40 EDTGMBass says has not met GM's Barra but believes she is 'very competent' CEO
Hayman Capital's Kyle Bass is speaking about General Motors on CNBC.
10:36 EDTGMBass says GM is Hayman Capital's biggest position
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10:36 EDTGMBass says press not telling whole narrative related to GM-linked deaths
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April 14, 2014
13:06 EDTGMGeneral Motors bounces, but bearish pattern still dominates chart
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11:17 EDTGMGeneral Motors announces departure of HR, Communications heads
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06:33 EDTGMGM records show in-house investigator stymied by co-workers, Bloomberg says
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April 13, 2014
19:18 EDTGMGM Opel unit may get to break even ahead of 2016 target, WSJ says
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April 11, 2014
17:09 EDTGMStocks tumble as investors remain skittish
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15:15 EDTGMGM CEO Barra emailed about recall developments in 2011
New documents released this afternoon by the House of Representatives Committee on Energy and Commerce indicate that Mary Barra, who is now General Motors' CEO, was emailed by Terry Woychowski in 2011 regarding the company's handling of Saturn Ions and Chevrolet Cobalts that were being probed by the NHTSA related to defects. In the email, dated October 3, 2011, Woychowski tells Barra that during the initial Cobalt case the "Ion data did not justify being included" and that the situation was "evolving." Shares of General Motors, which have been in negative ground throughout the session, are down about 3.75% to $32.05 in late afternoon trading. Over the last three months, the stock is down about 20%. Reference Link
14:58 EDTGMGeneral Motors options active on Senators call on DOJ to intervene
General Motors April 34 calls and April 31 puts are active on Senators calling on the Department of Justice to intervene in GM suits. April call option implied volatility is at 30, May is at 31, June is at 30; compared to its 26-week average of 28 according to Track Data. Active option volume suggests traders taking positions for large price movement.
14:54 EDTGMSenators call on DOJ to intervene in GM suits, require compensation fund
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14:14 EDTGMDeutsche Bank upgrades Ford on earnings outlook
Deutsche Bank upgraded Ford (F) to Buy from Hold in a note to investors, saying that the company's earnings are poised to increase significantly in 2015-2016. WHAT'S NEW: Ford can increase the price of its pickup trucks, Deutsche Bank analyst Rod Lache wrote. The company's pickups now cost just an average of about $150 per vehicle more than GM's offerings, versus the average gap of $3,000 over the last five years, Lache explained. Ford's new F150 truck will be less expensive than previously expected, as the truck's aluminum body will be cheaper than anticipated and the company has been able to find other ways to cut production costs, the analyst stated. Additionally, Ford's prospects in Europe and China are "favorable," according to the analyst, who upgraded the stock to Buy from Hold. He raised his price target on the shares to $19 from $18.50. WHAT'S NOTABLE: Lache was somewhat upbeat on General Motors (GM), saying that the company can keep it profits at "decent" levels by cutting its costs. However, he added that the automaker's products have not met expectations. Lache now expects GM's share of the pickup truck market share to drop to 17% in 2015 from 17.5% this year. He lowered his 2014 EPS estimate for GM to $2.58 from $3.38 and reduced his 2015 EPS estimate for the company to $4.20 from $4.80. Lache reduced his price target on the shares to $41 from $48, but kept a Buy rating on the stock. PRICE ACTION: In mid-afternoon trading, Ford added 0.6% to $15.72, while GM fell 2.9% to $32.33.
07:31 EDTGMChina auto sales growth slowed in March, WSJ reports
The China Association of Automobile Manufacturers said 1.71M passenger vehicles were sold there in March, which was up 7.9% from a year earlier but a slower growth rate than the 11% year-over-year increase seen in the January-to-February period, reported The Wall Street Journal. The association cited weak sales of minivans, which fell 23% in the month, as a large factor, the report noted. Publicly traded automakers include Ford (F), General Motors (GM), Fiat (FIATY), Honda (HMC), Toyota (TM), Nissan (NSANY) and Volkswagen (VLKAY). Reference Link
06:40 EDTGMGM surpasses VW in Q1 China sales, Bloomberg says
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06:36 EDTGMSafety advocates unnerved by accidents in recalled GM cars, Reuters says
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06:15 EDTGMFord upgraded to Buy from Hold at Deutsche Bank
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