Wall Street

Dealer software provider CDK goes public as it spins off from ADP

11:24 am U.S. ET | Oct. 1, 2014
CDK Global, formerly ADP Dealer Services, went public Tuesday as part of being spun off by parent Automatic Data Processing Inc., CDK Global announced today....
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GM bets on technology and Cadillac to become 'most valued' automaker

10:38 am U.S. ET | Oct. 1, 2014
General Motors is counting on a parade of new technology-packed models to drive sales growth and profitability in North America and China over the next four years as part of an ambitious push to become the world's “most valued” automaker by early in the next decade....
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Is Ford due for ratings boost after GM upgrade?

3:19 pm U.S. ET | Sept. 26, 2014
Ford's profit topped $7 billion in 2013 just as it did back in 1999 amid surging demand for Explorer SUVs and F-150 pickups. Yet five years into its recovery, Ford's credit ratings remain one level above junk -- six notches lower than they were back in the SUV boom of 1999....
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GM debt bumped up to investment grade by S&P

4:54 pm U.S. ET | Sept. 25, 2014
General Motors' corporate debt was raised by Standard & Poor's to investment grade, another critical step in the automaker's long recovery from its 2009 bankruptcy and reorganization....
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Marchionne says Fiat Chrysler will bypass Wall Street road show

11:21 am U.S. ET | Sept. 16, 2014
Fiat Chrysler CEO Sergio Marchionne said he doesn't plan to hold a road show for investors before listing shares of the combined car company in New York next month....
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Tesla shares tumble as bullish analyst raises cautions about growth

5:04 pm U.S. ET | Sept. 15, 2014
One of Tesla's strongest supporters on Wall Street issued a cautious report on the maker of luxury electric cars today, sending its shares skidding 9 percent on Monday. Tesla stock rebounded slightly on Tuesday, rising 2.7 percent....
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Hertz reaches pact with Icahn to replace 3 directors

4:44 pm U.S. ET | Sept. 11, 2014
Hertz Global Holdings reached an agreement in principle with billionaire investor Carl Icahn to appoint three directors to the board of the rental-car company in place of current members....
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Icahn-controlled Federal-Mogul to split into two public companies

9:11 am U.S. ET | Sept. 3, 2014
Carl Icahn-controlled auto supplier Federal-Mogul Holdings said today it plans to split its two business units into two publicly-traded companies....
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Tesla stock reaches new record high after bullish analyst report

3:02 pm U.S. ET | Sept. 2, 2014
Tesla Motors shares rose to another record high after an analyst report cited the electric-car maker's increasing production and said it may be worth $400 a share even before it starts making a lower-priced model....
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Supplier Metaldyne Performance files for stock offering

8:16 am U.S. ET | Aug. 23, 2014
Metaldyne Performance Group, a holding company for three auto suppliers merged earlier this month by private equity firm American Securities LLC, filed with federal regulators for an initial public offering of its common shares....
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U.S. Treasury to cut Ally stake

10:56 am U.S. ET | Aug. 14, 2014
The Treasury Department plans to cut its stake in Ally Financial by selling stock on the open market in its first divestiture since the company's initial public offering in April....
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Auto-paint supplier seeks $1 billion from IPO, report says

11:20 am U.S. ET | Aug. 14, 2014
Axalta Coating Systems, DuPont's former auto-paint unit, is working with Citigroup and Goldman Sachs on an initial public stock offering with hopes of raising $1 billion, people familiar with the matter told Bloomberg....
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Mobileye shares surge 48% after $890 million IPO

11:25 am U.S. ET | Aug. 1, 2014
Shares of Mobileye NV soared 48 percent in their market debut today as investors bet that the race by automakers to improve safety ratings would boost demand for the company's unique camera-based systems that help drivers avoid collisions....
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Tesla's Q2 net loss widens to $62 million as r&d expenses soar

4:39 pm U.S. ET | July 31, 2014
Tesla's net loss widened to $61.9 million in the second quarter even though it assembled and delivered record numbers of Model S electric cars. Revenues surged nearly 90 percent....
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Germany's ZF in advanced talks to buy TRW for near $12 billion, report says

1:22 pm U.S. ET | July 30, 2014
Germany's ZF Friedrichshafen AG is in advanced talks to acquire TRW Automotive for nearly $12 billion, in a deal that would create an automotive supply powerhouse, people familiar with the matter told Reuters today....
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Penske Q2 net income rises 18% on strong gains in all segments

7:30 am U.S. ET | July 30, 2014
Penske Automotive Group's second-quarter net income rose 18 percent from the year-earlier period on higher new- and used-vehicle unit sales....
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Ford Q2 earnings rise on N.A. record, first European profit in 3 years

6:45 am U.S. ET | July 24, 2014
Ford posted a second-quarter pretax profit of $2.6 billion, bolstered by a record performance in North America and its first quarterly profit in Europe in three years....
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GM's quarterly profit plunges on recall costs

7:36 am U.S. ET | July 24, 2014
The heavy cost of General Motors' unprecedented slew of safety recalls during the second quarter wiped out most of its profits, erasing the fruits of strong truck pricing in North America and sales growth in China....
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GM is 'paying for past sins,' analyst says

12:33 pm U.S. ET | July 24, 2014
A sampling of what analysts and others are saying about GM's second-quarter financial results released today:...
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Superior investor touts board slate in proxy fight

4:12 pm U.S. ET | July 9, 2014
GAMCO Asset Management, the largest institutional shareholder of aluminum wheel supplier Superior Industries, today unveiled its slate of board nominees it wants shareholders to elect at Superior's annual meeting next month....
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Agnellis may tighten grip on Fiat after Chrysler merger

July 8, 2014 11:43 CET
Fiat's founding Agnelli family may see its voting rights rise to 46 percent as part of a scheme to reward long-term investors after a merger with Chrysler and a listing in New York, a U.S. regulatory filing showed....
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Superior Industries faces proxy fight over board members

4:08 pm U.S. ET | July 8, 2014
Aluminum wheel supplier Superior Industries International faces a shareholder proxy fight at its annual meeting next month....
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Fiat Chrysler, Marchionne prepare to sell Wall Street on 'Cinderella' story

3:34 pm U.S. ET | June 27, 2014
Sergio Marchionne needs a New York stock market listing to bring in the investors required to fund future growth at Fiat Chrysler, but a lukewarm response to the CEO's most recent Wall Street launch suggests he has a bumpy journey ahead....
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TI Automotive plans debt-fueled dividend for hedge fund owners, report says

8:20 am U.S. ET | June 21, 2014
TI Automotive’s hedge fund owners that include Oaktree Capital Group LLC will reap a $435 million dividend by saddling the longtime auto supplier with more debt for the second time in two years....
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Fiat will sell holdings worth 602 million euros to fund upscale shift

June 20, 2014 11:25 CET
Fiat Chrysler plans to sell holdings valued at about 602 million euros ($820 million), freeing up cash to invest in an expansion of its upscale brands....
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