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Stock Market & Financial Investment News

News Breaks
July 23, 2014
13:30 EDTGMGM announces six new recalls totaling 717,950 vehicles
General Motors announced six safety recalls covering 717,950 recent model vehicles in the U.S. The recalls cover: 414,333 2011-2012 model year Chevrolet Camaro, 2010-2012 model year Chevrole Equinox and GMC Terrain, 2011-2012 Buick Regal and LaCrosse, and 2010-2012 Cadillac SRX models in the U.S. equipped with power height adjustable driver front passenger seat structures. In these vehicles, the bolt that secures the height adjuster actuator may become loose or fall out.GM is aware of one crash and three injuries but no fatalities related to this condition; 124,008 model year 2014 Chevrolet Caprice, 2014 Chevrolet SS, 2014-2015 Chevrolet Silverado LD and HD, 2013-2014 Cadillac ATS, 2014 Cadillac CTS, 2014 Cadillac ELR, 2013-2014 Buick Encore; and 2014-2015 GMC Sierra LD and HD vehicles because certain vehicles may have an incomplete weld on the seat hook bracket assembly. GM is unaware of any crashes or injuries as a result of this issue; 120,426 2011-2013 model year Buick Regal and 2013 model year Chevrolet Malibus equipped with front turn signals that use two bulbs in each front turn signal; 57,242 2014 Chevrolet Impalas equipped with belt-drive electric power steering; 1,919 2014-2015 Chevrolet Sparks imported from Korea that were assembled with a lower control arm bolt not fastened to specification; 22 2015 model year Chevrolet Tahoe/Suburban and GMC Yukon/Yukon Denali vehicles in the U.S. In these vehicles, the roof carriers may have been attached with the wrong retaining nuts, resulting in holes or tears in the roof rail air bags if they deploy.
News For GM From The Last 14 Days
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February 3, 2016
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
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.
14:11 EDTGMAutodata estimates January U.S. auto sales pace at 17.58M, CNBC reports
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13:44 EDTGMGeneral Motors February weekly 29 straddle priced for 4.6% movement into Q4
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12:52 EDTGMGM, counsel ask judge to dismiss bid to undo settlement fund, Reuters says
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12:22 EDTGMEarnings Watch: Analysts positive on General Motors ahead of Q4 report
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12:03 EDTGMOn The Fly: Top stock stories at midday
Wall Street began the session in negative territory and the averages have remained there throughout the day as oil once again weighs on stocks. The price of oil has slid another 4%, giving the commodity a roughly 10% loss over the past two trading sessions. The market's late day rally yesterday gave hope for a decoupling between equities and oil prices, but that appears to be a one day reprieve as the stocks are back in lock-step with crude prices. 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 5% in the wake of its report of better than expected quarterly earnings and revenue, pushing Google's parent company to overtake Apple (AAPL) as the world's most valuable publicly-traded company in the process... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.5% amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8% 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... Pfizer (PFE) reported better than expected fourth quarter results, but forecast 2016 revenue and earnings below analysts' estimates, pushing its shares down fractionally. MAJOR MOVERS: Among the notable gainers was Syngenta (SYT), which rallied 4.5% after Bloomberg reported that ChemChina was close to a deal to buy the company for nearly $43B. Also higher were Mattel (MAT), Michael Kors (KORS), and Fabrinet (FN), which gained 12%, 22%, and 12.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Twitter (TWTR), which fell 8% after it was downgraded to Sell at Stifel and following a report claimed that tweets on the service are down 50% from their peak. Also lower were AGCO (AGCO), Harris (HRS), and Pitney Bowes (PBI), which were down 10%, 9.5%, and 11%, respectively, after reporting quarterly earnings. In addition, Ford (F) and General Motors (GM) lost 4% and 3.6%, respectively, after reporting U.S. sales for the month of January. INDEXES: Near midday, the Dow was down 239.86, or 1.46%, to 16,209.32, the Nasdaq was down 64.83, or 1.4%, to 4,555.54, and the S&P 500 was down 27.87, or 1.44%, to 1,911.51.
09:34 EDTGMGM reports January U.S. sales up 0.5% to 203,745 vehicles
General Motors said dealers in the United States delivered 203,745 vehicles in January, up 0.5% compared to last year. GM's retail sales rose 9%. The carmaker estimates that the seasonally adjusted annual selling rate for light vehicles in January was 17.5M units. GM ended the month with 74 days supply, or 629,878 vehicles, compared to 630,950 units at the previous month end. GM said, "We believe industry fundamentals such as the age of the vehicle fleet, well managed inventory levels, firm used car pricing, good credit availability and low fuel prices will support higher industry sales in 2016."
09:31 EDTGMGM reports January U.S. sales up 0.5% to 203,745 vehicles
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07:09 EDTGMTrueCar projects U.S. revenue from new vehicle sales reached $38B in January
TrueCar projects U.S. revenue from new vehicle sales reached a record high for the month of January of $38 billion, up 1.4 percent from a year ago. January marked the auto industry's 25th consecutive month of year over year revenue expansion. Higher average transaction prices helped automakers post a $520 million gain in revenue versus January 2015, despite a likely increase in incentive spending and somewhat lower sales compared with a year ago. As previously announced, TrueCar projects sales of new cars and light trucks contracted 0.3 percent last month. Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
06:28 EDTGMGM waiting on credit from investors, WSJ says
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February 1, 2016
18:46 EDTGMAutomakers hit with additional costs due to China regulatory shift, Reuters says
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10:02 EDTGMGeneral Motors volatility elevated into Q4 and outlook
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January 28, 2016
12:32 EDTGMGM, Lithia Motors settle FTC actions alleging inadequate car inspection programs
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06:09 EDTGMGM's Opel unit, watchdog recalling undisclosed number of models, Reuters reports
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January 27, 2016
11:12 EDTGMMissouri Supreme Court affirms St. Louis venue for GM ignition switch cases
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