GM's stock jumps 2% premarket after Morgan Stanley upgrade
GM's stock jumps 2% premarket after Morgan Stanley upgrade
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GM's stock jumps 2% premarket after Morgan Stanley upgrade
General Motors upgraded to overweight at Morgan Stanley
General Motors Co. will end production of the Chevrolet Sonic subcompact car as early as this year, according to people familiar with the matter, part of a broader push by Detroit auto executives to abandon low-margin cars in favor of sport-utility vehicles.
To understand why the auto industry pushed the Trump administration to roll back emissions rules, take a spin in Ford Motor Co.'s flashy new Lincoln Navigator SUV. Revamped for 2018, the hulking sport-utility vehicle is designed for an era of low gasoline prices. Customers flocked to Lincoln dealerships in March and shelled out an average $81,000 for the latest Navigator, Ford said, nearly 50% more than the outgoing model.
Detroit auto makers on Tuesday reported significant gains in U.S. auto sales in March, a good sign for the start of the spring selling season and traditionally the first month of the year that delivers high volumes.
Shares of Tesla Inc. tumbled 5.3% in premarket trade Monday, extended last week's plunge of 11.7%, as worries over the effect of a Model X accident, a recall of about 123,000 Model S vehicles and concerns the electric car maker's cash position continue to weigh on the shares. The stock has declined for five-straight weeks, and has plunged 31% since its Sept. 18, 2017 record close of $385. Baird analyst Ben Kallo reiterated the bullish outperform rating he's had on Tesla since March 2016, saying volatility in the shares has created buying opportunities for longer-term investors in the past. "While it seems a perfect storm is weighing on the shares, we are buyers into pressure as Model 3 production ramps," Kallo wrote in a note to clients. "We like the set-up headed into Q1 deliveries as we believe sentiment is overly negative, and think [Tesla] may be able to exceed lower expectations." The stock has lost 4.4% over the past 12 months through Thursday, while shares of rival carmaker General Motors Co. have gained 2.8% and the S&P 500 has climbed 11.8%.
Tesla Inc.'s stock plunge has lopped over $14.5 billion off the electric car maker's market capitalization this month, and has slashed the value of co-Founder and Chief Executive Elon Musk's stake by nearly $3 billion. The stock has tumbled $86.50, or 25.2%, month to date, the biggest monthly selloff in its history, amid growing concerns over the company's cash position and worries about a government investigation into a recent fatal crash. With 168,919,941 shares outstanding as of Feb. 14, the price decline reduces Tesla's market cap by $14.61 billion to $43.34 billion. That's below General Motors Co.'s market cap of $49.61 billion, but still above Ford Motor Co.'s market cap of $43.03 billion. Meanwhile, Musk owned 33.63 million Tesla common shares, or about 19.9% of the shares outstanding, according to FactSet. That means the monthly price decline has cut the value of his holding by $2.91 billion. The stock has now lost 7.5% over the past year, while GM shares have slipped 0.6% and the S&P 500 has gained 10.8%.
End-of-quarter push boosts Model 3 output, but production still trails company’s predictions.
One expert says a trade war is unlikely—but if one happens, it’s the U.S. that is likely to sustain the most damage
The Trump administration is pursuing ways to protect domestic vehicle manufacturing by forcing imported cars to meet stricter environmental rules, a move that would make them more expensive.
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Deputy administrator Heidi King would grapple with driverless-car technologies and exploding air bags if she is confirmed as head of the Transportation Department agency.
American auto makers are embarking on a historic shift away from passenger cars, as more-profitable sport-utility vehicles and pickup trucks continue to expand their share of the market.
Global auto executives spent substantial time in 2017 urging the Trump administration to seek reciprocity on trade policies affecting the world’s biggest automobile market. Industry leaders could get the exact opposite.
China’s apparent threat to tax U.S.-made cars more heavily would hit a different diplomatic target from the one intended: Germany. The one U.S. car maker that would be heavily affected is Tesla.
Among the companies with shares expected to trade actively in Wednesday's session are Boeing, General Motors, Nvidia, Facebook, Amazon.com and Apple.
Tesla’s founder says “car biz is hell,” but the US automakers have spent a century trying to make it a bit easier.
Today’s Top Supply Chain and Logistics News
Detroit auto makers reported significant gains in U.S. auto sales in March, as the trend toward SUVs and pickup trucks reinforced the push for less-demanding fuel-economy standards.
Among the companies with shares expected to trade actively in Tuesday's session are Spotify, Amazon, Apple, Tesla, General Motors and Intel.
The SEC accused the founder of Mozido Inc., among the most highly valued U.S. financial-technology startups just a few years ago, of defrauding investors.
Today in Real Time Economics, trade tensions and Twitter broadsides rattle markets, tariffs may be pushing some prices higher, China hits U.S. farmers, tighter lending standards may be squeezing consumers, foreign demand for U.S. bonds helps keep interest rates in check, and how the U.S. produces more steel with fewer workers.
The Trump administration’s move to ease fuel-efficiency standards is a boon to car executives who for years have said they couldn’t justify making smaller, less-profitable vehicles in an era of cheap gas.
The automaker is abandoning its decades-old practice of reporting monthly sales, saying a 30-day period doesn’t provide an adequate snapshot of the company’s complex business or the broader industry.
Two recent fatal crashes of cars with varying levels of autonomous-driving technology are focusing attention on vehicles that vest control in both humans and machines.
Investors have dropped weight-loss drugs for some venerable behavior-modification and meal-replacement companies.
KB Home, Deutsche, Micron, Schneider and WestRock and Amazon as Zacks Bull and Bear of the Day
Tesla Model 3 1Q18 deliveries were more than four times higher than its 4Q17 Model 3 deliveries.
The spin-off of Magneti Marelli is likely to aid Fiat Chrysler (FCAU) to focus more on its core business.
General Motors (GM) has seen a nice short-term history of beating earnings estimates, and looks poised to crush analyst expectations in its next earnings report as well.
3 Reasons Why General Motors Company Stock Will Stall
The top analyst upgrades, downgrades and other research calls from Monday include Alcoa, CEMEX, Comerica, Facebook, General Motors, Incyte, Proofpoint and Regeneron Pharmaceuticals.
A higher percentage of Wall Street analysts have been favoring “buys” and higher upside potential on GM stock compared to Ford stock over the last few months.
Tesla’s 1Q18 car production stood at 34,494 units, an increase of about 35.7% from 25,418 car units in 1Q17.
As of April 5, 2018, 18 analysts are actively tracking Delta Air Lines. All of the analysts gave Delta Air Lines a “buy” recommendation.
GM considers replacing Spark with crossover
According to the recent data compiled by Reuters, only 17% of the analysts covering Ford Motor Company (F) stock have given it “buy” ratings.
Put your portfolio in high gear with this automaker.
Ford (NYSE: F) had a strong sales month domestically in March. However, it still lags it major competitors, GM (NYSE: GM) and Toyota (NYSE: TM), and investors continue to worry about whether CEO James Hackett has a strategy to rescue Ford from worries about its long-term future. Year to date Ford's shares are down 11.7%. [ ]
Kistler-Tiffany Companies, LLC Buys FedEx Corp, Time Warner Inc, General Motors Co, Sells iShares Core S&P 500, iShares Core MSCI EAFE, iShares Core U.S. Aggregate Bond
Thinking about buying stock in Acadia Pharmaceuticals, Deutsche Bank, General Motors, Novartis, or Spirit Airlines?
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United States : US auto sales spring to life in March
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Today's Research Reports on Stocks to Watch: Tesla and Ford
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GM Financial to Release First Quarter 2018 Operating Results
Germany : Opel workers demand German investment plan from PSA
General Motors Co. engages in the designing, manufacturing, and selling of cars, trucks, and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc. The firm operates through the following segments: GM North America, GM International, and GM Financial. It sells vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Wuling, Maven, and OnStar brands. The company was founded by William C. Durant on September 16, 1908 and is headquartered in Detroit, MI. (See Full Profile)
Name | Chg % | Market Cap |
---|---|---|
Gentex Corp. | $6.48B | |
Tesla Inc. | $50.54B | |
Honda Motor Co. Ltd. ADR | $62.25B | |
Toyota Motor Corp. ADR | $204.96B | |
Ford Motor Co. | $44.65B |