New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 14, 2014
12:17 EDTGM, OCN, NSMNationstar advances after Kyle Bass ups stake
Shares of mortgage servicer Nationstar Mortgage (NSM) are climbing after hedge fund Hayman Capital announced earlier this morning that it had increased its stake in the company to 5.3% from about 1.2%. WHAT'S NEW: In an interview earlier today on CNBC, Hayman Capital Managing Partner Kyle Bass indicated that the firm was upbeat on Nationstar's outlook in the mortgage sector. About $1.8T of mortgages have moved to nonbank servicers like Nationstar from banks, Bass stated. More importantly, companies like Nationstar are much more effective at servicing mortgages than banks, he said. "We think that this market opportunity will grow from $10 trillion to $11-$12 trillion over the next five years, and (the companies') servicing profitability will increase annually as the number of delinquent loans drop," the hedge fund manager stated. Asked about an investigation launched earlier this month by New York Superintendent of Financial Services Benjamin Lawsky into Nationstar, Bass said, "New York is important but it's one state." Moreover, the ratio of complaints per delinquent loan handled by Nationstar is 1.9%, versus an average ratio of 7% for banks, Bass stated. Nationstar's ratio in this area is also lower than that of all of its peers, the hedge fund manager noted. WHAT'S NOTABLE: The second best ratio of complaints per delinquent loans in the mortgage service industry is held by Ocwen Financial (OCN), Bass reported. Addressing a separate issue, Bass said that General Motors (GM) is "one of the cheapest companies" in the S&P Index, and should reach the high $40s or $50 in the next 18 months. PRICE ACTION: In late morning trading, Nationstar rose $1.50, or 4.8%, to $32.75. Ocwen climbed 4.6% to $40.80 and GM rose 2% to $34.50.
News For NSM;OCN;GM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 28, 2015
11:32 EDTGMFederal government to team with tech companies for tech hub, Venture Beat says
The Obama administration will make an announcement later today that will establish a flexible hybrid electronics hub in Silicon Valley, reports Venture Beat. The administration will partner with 162 companies that include Apple (AAPL), Hewlett-Packard (HPQ), Boeing (BA), General Motors (GM) and others. Both the Department of Defense and this private consortium will look to enhance the U.S.'s standing in "next-generation bendable and wearable electronic devices." Reference Link
August 26, 2015
16:26 EDTGMMajor automakers sued over allegedly 'deadly' keyless technology, Reuters says
A number of automakers have been named in a lawsuit alleging that keyless ignition technology can lead to "deadly" results due to carbon monoxide poisoning from cars left running under the belief that engines will automatically switch off, reports Reuters. Defendants include General Motors (GM), Ford (F), Fiat Chrysler (FCAU), Honda (HMC), Hyundai (HYMLF), Nissan (NSANY), Toyota (TM), Volkswagen (VLKAY), BMW (BAMXY), and Daimler's (DDAIF) Mercedes Benz, said Reuters. According to the plaintiffs, the carmakers had "actual knowledge" of the so-called risks and could have prevented 13 deaths and numerous injuries. Reference Link
13:42 EDTGMTrueCar says 'on plan' to hit 17.2M U.S. vehicle forecast for 2015
Subscribe for More Information
13:19 EDTGMTrueCar says daily auto sales pace up 0.9% for August, with 17.4M SAAR
Subscribe for More Information
10:00 EDTOCNOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
08:26 EDTOCNOcwen upgraded to Neutral from Sell at Compass Point
Compass Point upgraded Ocwen to Neutral with a $6 price target citing the pullback in shares.
August 24, 2015
19:36 EDTGMGeneral Motors ends two-week strike in Brazil, Reuters says
Subscribe for More Information
17:50 EDTGMGeneral Motors denies 3944 of 4343 ignition switch claims
Subscribe for More Information
09:45 EDTGMOn The Fly: Analyst Initiation Summary
Subscribe for More Information
09:18 EDTGMOn The Fly: Pre-market Movers
Subscribe for More Information
08:04 EDTGMGeneral Motors coverage resumed with an Underweight at Morgan Stanley
Subscribe for More Information
06:14 EDTGMGM recalling 59,474 2010 Chevrolet Cobalt vehicles
GM is recalling 59,474 2010 Chevrolet Cobalt vehicles manufactured January 4, 2010, to June 23, 2010. The affected vehicles may be equipped with an improperly routed Side-Impact Sensor wiring harness in the driver side front door. The misrouted wiring harness could cause an electrical short that disables the driver side curtain air bag. A disabled driver side roof-rail air bag will not deploy in the event of a crash necessitating deployment of that air bag, increasing the risk of injury to the driver.
August 23, 2015
18:23 EDTGMGM, Volkswagen slow production at Chinese factories, WSJ says
Auto manufacturers including General Motors (GM) and Volkswagen (VLKAY) appear to be running their Chinese factories at less than maximum capacity for the first time, reports the Wall Street Journal, citing industry data. The numbers suggest that a "bumpier ride" may be in store for multinationals that counted on Chinese demand, said the report. "The situation seems worse than that of 2008," remarked an engineer working at GM's Shanghai plant. Reference Link
August 21, 2015
06:46 EDTGMGM recalling 5,493 2014-2015 Chevrolet Impala vehicles
Subscribe for More Information
August 19, 2015
13:35 EDTGMGM investing C$12M for added Chevrolet Equinox production at Oshawa Assembly
GM Canada president and managing director Steve Carlisle announced that GM will invest C$12M to increase Chevrolet Equinox production on the Consolidated production line at Oshawa Assembly and for related changes in the body shop at CAMI Assembly. This further investment in Ontario-based production and supplier tools will help to meet strong North American customer demand for the Chevrolet Equinox. The investment extends plans for ongoing Oshawa Assembly Consolidated Line production to 2017. GM has invested approximately C$800M in its Oshawa and St. Catharines operations over the past 3 years and recently announced a further $800M investment in its CAMI operation in Ingersoll, Ontario.
August 18, 2015
16:50 EDTGMGM's future Buick production may shift to Europe, China, Reuters reports
According to two sources familiar with General Motors' plans, the majority of Buick vehicles sold in the United States after 2016 may be imported from China and Europe, Reuters reports. Reference Link
15:58 EDTGMGM's future Buick production may shift to Europe, China, Reuters reports
August 17, 2015
07:42 EDTGMNew Street-high target of $465 gives Tesla shares a charge
Shares of Tesla Motors (TSLA) are jumping after Morgan Stanley boosted its price target by $185 to $465, a new high among Wall Street analysts. The company is positioned to dominate as car sales shift to robot-driven and shared vehicles, the firm argues. SELLING MILES: Morgan Stanley analyst Adam Jonas raised his price target for Tesla Motors to $465 from $280, well above Friday's closing price of $243.15. Today, ten trillion vehicle miles are driven annually, with almost all of them delivered by "companies practicing a 100-year-old business model of human-driven, privately owned, internal-combustion vehicles," Jonas tells investors in a research note. General Motors (GM), Ford (F), Toyota (TM) and Honda (HMC) are among the publicly traded traditional carmakers. The market of selling cars is going through some fundamental changes, argues Jonas. He believes Tesla is "uniquely positioned" to dominate given its expertise in autonomous technology and networked machine learning. An app-based, on-demand mobility service could more than triple Tesla's potential revenues by 2029, the analyst estimates. He expects Tesla over the next 18 months to roll out formalized business plans on shared mobility, allowing the electric vehicle maker to sell miles in addition to cars. His new price target of $465 reflects Tesla's potential to lead the revolution of the shared mobility public transportation hyper-structure and more confidence around the commercial viability of Tesla Energy. ROBOT-DRIVEN: Jonas expects nearly all car sales to eventually shift from human-driven, individually-owned cars to robot-driven and shared cars. If Tesla wants to succeed on its mission of accelerating the world's transition to sustainable transport, the move to a shared mobility model is critical, he argues. All of Tesla's cars are electric, connected, and able to "learn" through over-the- air firmware updates at any time, which no other established automaker can claim today, Jonas writes. MARKET REACTION: Investors are buying into what Jonas is arguing. Shares of Tesla are up 5%, or $13.10, to $256.25 in pre-market trading. Over the past three months through Friday's close, the stock is down 2%.

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