Wall Street

U.S. Treasury to cut Ally stake

10:56 am U.S. ET | Aug. 14, 2014
The Treasury Department said it will cut its stake in Ally Financial by selling stock on the open market in its first divestiture since an 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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HANS GREIMEL

Akio's world: When growth is no growth

3:14 pm U.S. ET | May 9, 2014
Akio Toyoda is the first to admit it. He doesn't count company growth the same way as other captains of industry -- or Wall Street profit hounds, for that matter....
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Tesla posts Q1 net loss of $49.8 million

7:21 am U.S. ET | May 7, 2014
Despite record production of 7,535 Model S electric vehicles, Tesla Motors posted a $49.8 million net loss in the first quarter while revenue rose to $620 million....
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Ford to buy back $1.8 billion in stock

5:17 pm U.S. ET | May 7, 2014
Ford Motor said it will repurchase $1.8 billion of its shares to reduce dilution from recent stock grants to executives and to offset shares that may be issued to holders of convertible debt....
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LUCA CIFERRI

Marchionne follows the money

12:01 am U.S. ET | May 6, 2014
Why is Fiat Chrysler CEO Sergio Marchionne today presenting his latest business plan for the Italian automaker at Chrysler's U.S. headquarters in Auburn Hills, Michigan, and not at Fiat's base in Turin?...
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LUCA CIFERRI

Marchionne follows the money

12:01 am U.S. ET | May 6, 2014
Why is Fiat Chrysler CEO Sergio Marchionne today presenting his latest business plan for the Italian automaker at Chrysler's headquarters near Detroit, and not at Fiat's base in Turin?...
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Ontario plans to unload remaining stake in GM

1:29 pm U.S. ET | April 11, 2014
The Canadian province of Ontario plans to sell its remaining shares of General Motors Co. in the next year as part of a review of its state-owned assets....
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GM investors unshaken as recall cuts $3 billion in stock market value

1:48 pm U.S. ET | April 7, 2014
Some of GM's institutional investors say they're keeping faith in the stock after the recall crisis wiped out more than $3 billion in shareholders' value over four weeks. CEO Mary Barra has apologized for the lives lost in accidents tied to an ignition switch defect and promised an aggressive investigation into why it took so long to do anything even though some at GM knew about the faulty switches as early as 2001....
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TrueCar files plans to go public with stock

5:37 am U.S. ET | April 4, 2014
Online auto-shopping service TrueCar said today it has filed a statement with the Securities and Exchange Commission to sell shares in an initial public offering. The company said it could raise as much as $125 million from the stock sale....
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JENNIFER CLARK

End of an era at Fiat

12:01 am U.S. ET | April 1, 2014
Fiat held its last annual shareholder's meeting in Turin. The next one will be in the Netherlands, which is like Ford Motor holding its annual assembly in Canada....
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Ally Financial IPO could generate $2.7 billion for U.S. Treasury

9:00 am U.S. ET | March 27, 2014
Ally Financial, the former GMAC auto lender rescued by the federal government during the 2008 financial crisis, is helping the Treasury Department divest its stake by seeking as much as $2.7 billion in an initial public offering....
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