New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 18, 2014
13:22 EDTGMGM co-CEO did not know details defective cars till January 31, Reuters says
General Motors co-CEO Mary Barra said she did not know of the details of the defective cars until January 31, reports Retuers. That comes only two weeks after Barra took over the company as CEO, but thirteen years after company engineers first documented problems. Reference Link
News For GM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 >>
October 1, 2015
15:55 EDTGMGeneral Motors advances after September sales, 2015 investor conference
Shares of General Motors (GM) advanced in a down market after reporting U.S. sales figures for September and holding its 2015 Global Business conference, during which the company took the opportunity to highlight numerous high-tech initiatives. WORLDWIDE UPDATE: General Motors held its 2015 Global Business conference on Thursday, outlining the company's plan to "own the customer relationship beyond the car." CEO Mary Barra acknowledged headwinds in the form of slow China growth, unfavorable macro conditions in South America, intensified U.S. competition, and somewhat underwhelming brand strength, but also provided color on new initiatives for the automaker. Barra noted plans to grow adjacent businesses like GM Financial and after-sales, and also highlighted a focus on maturing growth markets like China, India, and the American luxury space with the company's Cadillac brand. Front and center, however, were GM's future-focused plans. "As we move forward, we plan to lead" in autonomous vehicles, alternative propulsion, car sharing, and connectivity, Barra said, emphasizing new targets for the company as it grapples with automotive innovations from Tesla (TSLA), Google (GOOG), and -- according to recent reports -- Apple (AAPL). The company said it will test a fleet of autonomous Chevrolet Volts at its Warren Technical Center campus in late 2016, and GM also showed off a prototype Apple Watch app to start and unlock vehicles. GM also announced two new ride-sharing projects, one in New York City operating currently and one to come in first quarter next year in another, unnamed U.S. city. FINANCIAL TARGETS: Barra disclosed that the company's $5B share repurchase plan is "on track." The company has achieved North American margins of 9.7% during just the first half of this year, positioning the company well to hit its target of 10%, Barra said. The Chief Executive also revealed that the company is targeting 9%-10% global margins by early next decade, adding that GM plans to cut costs in the range of $5.5B between 2015 and 2018. GROWTH MARKETS: GM president Dan Ammann remarked that developed markets are "basically no-growth, perhaps even shrinking," leading the company to increase its focus on growth markets. The company previously announced a $5B initiative to tackle those growth markets over "the next several years," and Amman provided additional detail during today's presentation. No longer relying on repurposed legacy architecture, the company will be approaching growth markets in partnership with regional players like China's SAIC to codevelop vehicle programs and simplify its vehicle sets. SEPTEMBER SALES: The presentation by GM came alongside September U.S. sales figures for the major automakers. General Motors reported that its U.S. sales grew 12% to 251,310 vehicles, while Fiat Chrysler (FCAU) reported growth of 14% and Ford (F) disclosed a rise of 23% for the month. PRICE ACTION: Shares of General Motors are up 2.2% to $30.69 heading into session close, while Ford and Fiat Chrysler shares have risen a respective 0.66% and 2.27%.
12:16 EDTGMOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as investors remain cautious following last quarter's rout. The Dow, Nasdaq and S&P 500 each lost 7% or more in the third quarter and yesterday's end-of-quarter rally is turning out to be very short-lived as investors brace for tomorrow's nonfarm jobs report and the Federal Reserve rate setting meeting that comes late this month. ECONOMIC EVENTS: In the U.S., Markit's manufacturing purchasing managers' index inched up to 53.1 in the final September reading, compared to the preliminary September figure of 53.0 that was flat from August. ISM's manufacturing index fell to 50.2 in September, however, versus expectations for a reading of 50.6. Construction spending grew 0.7% in August, versus the consensus expectation for a rise of 0.5% for the month. Initial jobless claims rose to 277,000 in the week of September 26, versus expectations for 271,000 first-time claims. In Asia, Chinese markets were closed for holidays, but monthly manufacturing data was still released. The government's official manufacturing PMI ticked up to 49.8, beating expectations for a 49.6 reading. The final Caixin/Markit PMI, meanwhile, fell to a fresh six-and-a-half-year low of 47.2 in September, though that was slightly improved an earlier flash estimate of 47. In Japan, the Bank of Japan's quarterly tankan survey of large manufacturers for the September quarter came in at positive 12, compared with expectations for a positive 13 reading. In Europe, Markit's final Eurozone manufacturing PMI for September came in at 52.0, consistent with the flash figure and down from August's final 52.3 reading. COMPANY NEWS: Shares of General Motors (GM) rose fractionally near midday after the company reported its U.S. sales grew 12% in September compared to the same month of last year. Additionally, the auto giant hosted a global business update event, where it announced two new car- and ride-sharing projects and confirmed its plans to jointly develop a commercially viable fuel cell vehicle with Honda (HMC) in the 2020 timeframe. Fiat Chrysler (FCAU), which reported U.S. sales increased 14% last month, and Ford (F), which said its U.S. sales rose 23% in September, both saw their shares slip fractionally near noon. MAJOR MOVERS: Among the notable gainers was Sarepta Therapeutics (SRPT), which rallied 19% after the company released additional data from its Phase IIb program of eteplirsen in patients with Duchenne muscular dystrophy. Also higher was PBF Energy (PBF), which gained 10% after agreeing to purchase the 155,000 barrel-per-day Torrance refinery, and related logistics assets, from ExxonMobil (XOM). Among the noteworthy losers was Crocs (CROX), which dropped 14% after Piper Jaffray analyst Erinn Murphy downgraded the stock to Neutral, saying adverse currency moves and China weakness could cause sales to miss expectations in Q3. Also lower were shares of Dunkin' Brands (DNKN), which fell 10% after the company projected third quarter U.S. same-store sales that fell below the prior year period and said it would close 100 stores in the U.S. in 2015 and 2016. INDEXES: Near midday, the Dow was down 195.02, or 1.2%, to 16,089.68, the Nasdaq was down 55.92, or 1.21%, to 4,564.24, and the S&P 500 was down 17.57, or 0.92%, to 1,902.46.
10:16 EDTGMGeneral Motors unveils car-sharing program in New York
Subscribe for More Information
09:35 EDTGMActive equity options trading on open
Subscribe for More Information
09:18 EDTGMGM sees six-month moving average for SAAR 17.6M units
Subscribe for More Information
09:17 EDTGMGeneral Motors reports September U.S. sales up 12% to 251,310 vehicles
General Motors' Chevrolet, Buick, GMC and Cadillac brands sold 251,310 vehicles in the United States in September 2015. Retail deliveries climbed 17% compared with a year ago, which makes September the sixth month in a row that GM has increased retail market share year over year. Total sales were up 12%. GM's average transaction prices increased almost $800 per unit compared to August 2015, according to J.D. Power PIN estimates. Incentive spending in September was down 1 percentage point from August 2015, much greater than the industry's 0.2 percentage point decline. Year over year, spending was down 0.7 percentage points, while industry spending increased 0.9 percentage points. Commercial deliveries increased 10 percent year over year for the 23rd consecutive monthly increase. Consistent with GM's plan, total fleet sales were down 5 percent due to a 12 percent decline in rental deliveries.
09:17 EDTGMGeneral Motors reports September U.S. sales up 12% to 251,310 vehicles
Subscribe for More Information
09:05 EDTGMGeneral Motors outlines plans on future of personal mobility
General Motors (GM) CEO Mary Barra and her leadership team outlined the company's plans to capitalize on the future of personal mobility. GM also said it plans to strengthen its core business through global growth initiatives and an aggressive product launch cadence. As a result, the company expects to increase its earnings per share and generate significant shareholder value. The company shared its plans with investors during a conference at its Milford Proving Ground. GM announced that late in 2016 it will add a fleet of 2017 Chevrolet Volts designed to drive autonomously within its renovated Warren Technical Center campus. GM also announced two new car- and ride-sharing projects, one in New York City operating today and one to come in first quarter next year in another U.S. city. In collaboration with Honda, it is developing a next-generation hydrogen fuel cell stack and hydrogen storage systems. GM confirmed its plans to jointly develop a commercially viable fuel cell vehicle with Honda (HMC) in the 2020 timeframe. The company expects to grow its business over the next five years through key initiatives including a $5 billion investment in an all-new Chevrolet growth market vehicle family; maintaining a strong market position in China by enhancing its presence in SUV and luxury segments; expanding Cadillac's vehicle portfolio into growing luxury segments; continuing the growth of GM Financial through the expansion of services globally, and expanding aftersales and OnStar revenue opportunities globally. In the same timeframe, GM plans to introduce a large number of all-new or refreshed vehicles globally. In 2015, about 26 percent of GM's global sales volume has come from vehicles new or refreshed within the previous 18 months. This percentage is projected to be 39 percent in 2016, 40 percent in 2017, 31 percent in 2018, and reach 40 percent in 2019 and 2020. GM is also accelerating its efforts to drive further cost efficiencies across the value chain, with a focus on enhancing overall value for its customers. The company said it expects to generate benefits of approximately $5.5 billion in purchasing, manufacturing and administration expense between 2015 and 2018, more than offsetting increased investments in brand development and technology.
05:56 EDTGMTrueCar boosts 2015 U.S. sales forecast to 17.4M from 17.2M
TrueCar (TRUE) raised its 2015 annual forecast by 200,000 units to 17.4 million as sales growth in the remaining months of 2015 is poised to remain vigorous. New auto sales in September, aided by a later-than-usual Labor Day, should expand by 12.6 percent from a year ago, while the Seasonally Adjusted Annual Rate should reach 17.7 million units. That strength underpins TrueCar's revised full-year industry forecast of 17.4 million units, the highest volume since 2000. Retail share of the total industry likely expanded a full point in September versus last year, indicating busier-than-average showrooms. Confident consumers are expected to push new vehicle revenue to a record $45 billion for the month, up 13.2 percent versus the same period last year. Publicly traded companies in the space include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM), Daimler (DDAIF) and Volkswagen (VLKAY). TrueCar EVP Larry Dominique commented, "Volkswagen's stop sell of diesel vehicles in the U.S. causes a noticeable hit to its September revenue, with a 7.7 percent decline. We expect sales to dip by at least by 5 percent and incentives to increase by $235 per unit, which will be essential to push non-impacted models off the lots."
September 30, 2015
15:45 EDTGMGeneral Motors to hold a conference call
Subscribe for More Information
09:05 EDTGMGeneral Motors and Navistar reach long-term commercial vehicle agreement
Subscribe for More Information
September 29, 2015
06:17 EDTGMFiat Chrysler labor deal faces resistance, NY Times reports
Fiat Chrysler's (FCAU) tentative deal with the United Auto Workers union has seen resistance in early voting, with several plants rejecting the deal outright, the New York Times says. Voting at some of the largest plants will start Tuesday, and that fate of the proposed four-year deal will be determined by the middle of the week, the report says. Opponents to the deal have said that it does not offer any clear path for lower-tier workers to reach the highest levels of hourly play and fails to limit the number of entry-level workers, the report says. Fiat Chrysler's deal with its auto workers is viewed as a template for labor talks that General Motors (GM) and Ford (F) will have with their workers, the report says. Reference Link
September 28, 2015
18:51 EDTGMGM CEO plans increased focus on connectivity, autonomous driving, Reuters says
Subscribe for More Information
September 25, 2015
09:05 EDTGMGeneral Motors volatility elevated
General Motors October weekly call option implied volatility is at 34, October and November is at 33; compared to its 52-week range of 14 to 36, suggesting large near term price movement.
06:34 EDTGMGM CEO again rejects idea of merger with Fiat Chrysler, WSJ reports
Subscribe for More Information
06:07 EDTGMGM CEO says pursuing profit margins, not market share, WSJ reports
Subscribe for More Information
September 24, 2015
09:03 EDTGMAlcoa completes expansion of Tennessee facility
Subscribe for More Information
07:55 EDTGMVW scandal strengthens Marchionne's quest for consolidation, Bloomberg says
Subscribe for More Information
September 23, 2015
19:07 EDTGMStudy shows U.S. cars less safe than EU vehicles, Independent says
Subscribe for More Information
09:18 EDTGMPaulson Institute and CCPIT to co-host U.S.-China Business Roundtable
The Paulson Institute and the China Council for the Promotion of International Trade (CCPIT) provide an opportunity for U.S. and Chinese business leaders to discuss issues facing the two countries in a roundtable being held in Seattle, Washington on September 23.
1 | 2 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use