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Stock Market & Financial Investment News

News Breaks
July 15, 2014
06:27 EDTTM, F, NSANY, GM, VLKAY, FIATY, HMCAutomakers backing U.S.-EU trade deal, NY Times reports
Automakers are among the biggest proponents of a U.S.-E.U. free trade pact that is currently being negotiated, according to The New York Times. There are some obstacles to reaching a deal, however, the newspaper added. Publicly traded companies in the space include Fiat (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
News For TM;VLKAY;NSANY;HMC;GM;F;FIATY From The Last 14 Days
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April 23, 2015
07:32 EDTGMGeneral Motors reports Q1 EPS ex-items 86c, consensus 97c
Reports Q1 revenue $35.7B, consensus $37.61B.
06:58 EDTVLKAYVolkswagen to get $407M in financing from Canada, Reuters says
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April 22, 2015
15:50 EDTGMNotable companies reporting before tomorrow's open
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13:54 EDTGM, FEarnings Preview: General Motors sentiment positive ahead of Q1 report
General Motors Company (GM) is expected to report first quarter earnings on Wednesday, April 23 before the market open with a conference call scheduled for 10:00 am ET. General Motors is a global designer and builder of cars, trucks and automobile parts. EXPECTATIONS: Analysts are looking for earnings per share of 97c on revenue of $37.61B, according to First Call. The consensus range for EPS is 85c-$1.07 on revenue of $35.71B-$39.36B. LAST QUARTER: GM reported fourth quarter adjusted EPS of $1.19 against estimates for 83c on revenue of $40.5B against estimates for $40.12B. In Q4, GM reported the following: Retail vehicle sales of 2.55M units; Total U.S. retail vehicle sales of 727K units and total North America retail vehicle sales of 854K units; Europe retail sales of 298K units; APMEA retail sales of 1.165M units; South America retail vehicle sales of 236K units; Total worldwide automotive market share of 11.4%, with total U.S. market share of 17.4%; Total Europe share of 6.3% and total APMEA share of 10.5%; North America capacity utilization of 98.9%. GM announced it intends to increase the second quarter dividend on its common stock by 20% to 36c per share. On March 9, GM announced a $5B share repurchase program. On April 22, GM said it sold 2.4M vehicles globally in Q1, up 2% from last year. Sales in China increased 9% and deliveries in North America were up 6%. STREET RESEARCH: Street research has been mostly positive in the weeks leading up to GM’s Q1 earnings report. On February 5, Craig-Hallum upgraded General Motors to Buy from Hold. The analyst said the company's Q4 report was superb and expects a very strong year ahead given recall issues that are mostly behind it and a continuation of impressive truck/SUV sales. Additionally, Craig-Hallum expects more shareholder-friendly actions following the announcement of a 20% common dividend increase. They raised their price target on the shares to $44 from $34. On March 10, Citigroup raised its price target for shares of General Motors to $50 from $49 saying the car maker's "earnings and overlooked progress" should hold more weight now that its capital allocation is in place. The firm continues to believe shares will trade at premium to Ford (F) by the end of 2015. It thinks the GM bears have "run out of excuses" and kept a Buy rating on the name. PRICE ACTION: GM shares have gained approximately 8% since Q4 results were released and notched a 52-week high of $38.99 in March. In afternoon trading ahead of Wednesday's Q1 report, GM shares are down 0.4%.
06:04 EDTGMGeneral Motors says sold 2.4M vehicles globally in Q1, up 2% from last year
General Motors sold 2.4 million vehicles globally in the first quarter of 2015, up 2% compared to a year ago. Sales in China increased 9% and deliveries in North America were up 6%. Opel/Vauxhall increased its sales by 3% in Europe. “The momentum our brands are building in China, the U.S. and Western Europe more than offset difficult conditions in some other large markets like Russia and Brazil,” said GM CEO Mary Barra. “We are in the early days of a very aggressive onslaught of new products and customer-driven innovation,” she said. “Already, the Chevrolet Trax and Colorado are redefining segments in the United States, Cadillac is growing rapidly in China and establishing a new formula for prestige sedans with the CT6 and Opel’s revitalization is accelerating across Europe. At the same time, we are deploying OnStar with 4G LTE in North America, Europe and China to give our customers the best connectivity experience in the industry.”
April 21, 2015
14:02 EDTTMToyota looking to increase China production, Bloomberg says
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April 20, 2015
15:16 EDTGMGreenlight starts new GM long position, rolls Lorillard short bet to Reynolds
David Einhorn's Greenlight Capital hedge fund said in its latest quarterly letter to investors that it had established new long positions in General Motors (GM), Chicago Bridge & Iron (CBI) and AerCap Holdings (AER) last quarter. WHAT'S NEW: Greenlight believes GM should benefit from low gas prices, low raw material costs, and its decision to launch share buybacks, Greenlight stated. GM has an excellent chance of beating 2015 EPS expectations, added the firm. Einhorn's group said they found the valuation of Chicago Bridge and Iron, an engineering and construction company with significant exposure to energy, attractive following the stock's decline. Although energy prices may stay low for some time, the company has a significant backlog that should support its earnings for several years, Greenlight stated. Additionally, the market is overestimating how much of the cost overruns for two nuclear energy projects with be shouldered by the company, Greenlight contended. AerCap, the largest publicly traded aircraft leasing company, bought AIG's (AIG) aircraft leasing business last year at a bargain price, Greenlight stated. The combined business will benefit from AerCap's low tax rate, as well as efficiencies, the hedge fund believes. WHAT'S NOTABLE: Greenlight exited its short position in Lorillard (LO). Greenlight noted that it has rolled its short bet on Lorillard into a fresh position in Reynolds American (RAI), since it still believes that the FDA is gearing up to do "something major" in terms of regulation of menthol cigarettes, but is moving "slowly and deliberately" because it anticipates an extremely aggressive industry response. The firm also exited two other short positions because the companies agreed to takeovers: Safeway (SWY) and Freescale Semiconductor (FSL), which has agreed to sell itself to NXP Semicondictors (NXPI).
14:16 EDTGMEinhorn lists AerCap, CBI, GM as new longs, Bloomberg reports
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14:10 EDTNSANYNissan: China should add incentives for electric vehicles, Automotive News says
Nissan CEO Carlos Ghosn said he was disappointed by electric vehicle sales in China and called on Beijing to intensify incentives for electric vehicles, according to Automotive News. Tesla (TSLA) also sells electric vehicles in China. Reference Link
12:53 EDTNSANYNissan: China should add incentives for electric vehicles, Automotive News says
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11:35 EDTGMGeneral Motors ignition switch death claims rise to 87, WSJ reports
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08:12 EDTNSANY, HMC, VLKAYMarathon Patent Group announces results of Signal IP Markman ruling
Marathon Patent Group (MARA) announced that on April 17, the United States District Court Central District of California issued the claim construction order in the litigation involving its wholly-owned subsidiary Signal IP and American Honda Motor Co. (HMC), Nissan North America (NSANY), Porsche Cars of North America, Mazda Motor of America, Mercedes-Benz USA (DDAIF), BMW of North America, Subaru of America, Kia Motors America, Mitsubishi Motors North America, Volkswagen (VLKAY), and Jaguar Land Rover North America. A total of 36 claim terms from a total of seven patents were disputed between Signal IP and the defendants.
07:55 EDTTMToyota Motor North America awards SAIC contract
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06:50 EDTGM, FTesla price target slashed to $165 at JPMorgan
After lowering its earnings estimates to reflect adverse currency moves, higher operating costs and slower than earlier expected Model X ramp, JPMorgan cut its price target for Tesla shares to $165 from $175. The stock closed Friday up 9c to $206.79. The firm dropped its Q1 earnings estimate to (38c) from (31c) despite the increase in Q1 deliveries preannounced by the electric car maker. JPMorgan keeps an Underweight rating on Tesla, the firm's equivalent to a sell. It maintains Overweight ratings on Ford (F) and General Motors (GM) with price targets of $19 and $46, respectively, ahead of the Q1 reporting season.
06:36 EDTVLKAYVolkswagen chairman severely weakened after confrontation, Reuters says
Volkswagen Chairman Ferdinand Piech had a "full-blown confrontation" with the other five members of the company's board over whether to retain the company's CEO, Martin Winterkorn, whose performance the chairman had criticized over the previous five months, according to Reuters. Piech backed down and agreed to back Winterkorn, but his efforts to oust the CEO has produced resentment against the chairman and severely weakened Piech's influence over the company, the news service stated. Reference Link
April 19, 2015
18:45 EDTVLKAYVolkswagen plans to develop budget SUVs for China, Reuters says
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13:56 EDTTMToyota to launch two hybrid cars in China in 2015, Reuters says
On the eve of the Shanghai autoshow, Toyota has announced plans to introduce two hybrid cars in China in 2015, says Reuters. The cars, both gasoline-electric hybrid cars, will be called Levin Hev and Corolla will be launched in China in the second half of the year, added Reuters. Reference Link
13:14 EDTFFord introduces new Taurus sedan for affluent Chinese customers, WSJ says
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13:06 EDTVLKAYVolkswagen shareholders look to calm leadership turmoil, WSJ says
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12:42 EDTGMGM China JV plans $16B investment in new car development, WSJ says
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