Wall Street

Ferrari Q3 earnings jump on higher vehicle shipments

Oct. 28, 2015 15:06 CET

Ferrari reported a 22 percent rise in third-quarter adjusted core profit as a jump in vehicle shipments offset lower sales of engines to sister brand Maserati....
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Ford posts highest-ever N.A. profit as global earnings double

7:15 am U.S. ET | Oct. 27, 2015

Ford had its best-ever quarter in North America and more than doubled its global earnings from a year earlier as redesigns of the F-150 and other high-profit nameplates began to pay off. Ford posted third-quarter net income of $1.9 billion, up from $833 million in the same period of 2014. It earned a pretax profit of $2.7 billion in North America....
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Mitsubishi Q2 net falls 14% despite revenue gain

6:35 am U.S. ET | Oct. 27, 2015

Mitsubishi Motors' net income fell 14 percent to 28.1 billion yen ($234.6 million) in the fiscal second quarter ended Sept. 30, despite a 9.2 percent rise in revenues....
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Ferrari shares RACE ahead on Wall Street debut

1:15 pm U.S. ET | Oct. 21, 2015

Ferrari shares, trading under the ticker symbol RACE, jumped 15 percent to $60 on its Wall Street debut today after the Italian supercar maker priced its share offering at the top of the range amid heavy investor demand....
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GM's Q3 operating profit jumps 37% to $3.1 billion on truck gains

7:45 am U.S. ET | Oct. 21, 2015

General Motors' surging truck sales delivered heavy-duty profits during the third quarter, leading the automaker to its best financial performance since before its 2009 bankruptcy....
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Lithia gears up acquisitions to meet new profit goal

11:07 am U.S. ET | Oct. 21, 2015

Lithia Motors is ramping up its store acquisition strategy after setting aggressive new earnings goals. “We are looking at approximately 30 deals in the New Jersey and L.A. markets,” Lithia CEO Bryan DeBoer said today after reporting strong gains during the third quarter....
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Ferrari's shares won't come cheap or easily as expected IPO price rises

1:17 pm U.S. ET | Oct. 20, 2015

Demand could outstrip supply on Ferrari's initial public stock offering later today, and the shares may price at the top of an indicated range of $48-52 per share, people close to the matter said....
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Auto parts retailers' immunity to Amazon.com drives gains

11:14 am U.S. ET | Oct. 19, 2015

Not all brick-and-mortar retailers are running in fear from Amazon. Just look at the auto parts industry. The three largest U.S. sellers of replacement parts are seeing sales surge, sending their stock prices on a roll....
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Ferrari IPO oversubscribed ahead of New York listing, report says

12:23 pm U.S. ET | Oct. 16, 2015

Ferrari's initial public stock offering is oversubscribed throughout its price range as investor interest in the supercar maker outstrips the shares available, people familiar with the matter told Bloomberg....
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VW credit rating cut by S&P; further cuts are possible

4:01 pm U.S. ET | Oct. 12, 2015

VW's credit rating was cut one level today by Standard & Poor’s, which said the German carmaker’s cheating on U.S. diesel-emissions tests indicates management weaknesses that may lead to a further debt downgrade....
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Ferrari to be valued at up to $9.82 billion in stock offering

7:01 pm U.S. ET | Oct. 9, 2015

Ferrari will be valued at as much as $9.82 billion in an initial public offering when owner Fiat Chrysler Automobiles sells a 9 percent stake in the Italian supercar manufacturer....
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Ferrari pushing for $12.4 billion valuation in stock offering, report says

4:11 pm U.S. ET | Oct. 8, 2015

Ferrari’s coveted status as a maker of cars for the super rich is helping push up its value in an initial public offering to as much as $12.4 billion, people familiar with the matter told Bloomberg....
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GM counting on big profits from parts and accessories, GM Financial

2:24 pm U.S. ET | Oct. 1, 2015

General Motors expects to pad its bottom line in coming years from substantial growth in its captive finance arm and its parts and accessories business....
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VW stock to be removed from Dow Jones Sustainability Indexes

3:20 pm U.S. ET | Sept. 29, 2015

Volkswagen AG’s stock will be removed from the Dow Jones Sustainability indexes after the automaker cheated on emissions tests....
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Aluminum supplier Alcoa to split into 2 companies

9:47 am U.S. ET | Sept. 28, 2015

Alcoa will split into two companies to separate its struggling aluminum smelting operations from production of lightweight metals for its faster-growing aerospace and automotive business....
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VW faces legal fallout from cheating -- this time in Germany

1:11 pm U.S. ET | Sept. 21, 2015

Volkswagen's legal problems started in the U.S., but the world's biggest carmaker is finding the fallout over its cheating on U.S. environmental tests is extending to its home market....
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China auto sales will stagnate for two years, firm predicts

3:42 pm U.S. ET | Sept. 4, 2015

Investment research firm Morningstar is forecasting the Chinese auto industry will stagnate for the next two years before returning to growth. In a Thursday report on European automakers, Morningstar predicted new-vehicle sales in China will fall this year and again in 2016, as a result of the country's economic turmoil and declines in its stock market....
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Marchionne's Fiat-GM merger plan may wait for Ferrari spinoff

8:18 am U.S. ET | Sept. 4, 2015

While Fiat Chrysler Automobiles CEO Sergio Marchionne isn't known for his patience, he's likely to wait until next year before making a bid for General Motors after months of talk about the potential of a deal. The spinoff of Ferrari SpA, which is slated for early 2016, could be the catalyst for Marchionne to make an offer for the U.S. automaker....
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Tesla stock price predicted to nearly double, Morgan Stanley says

1:49 pm U.S. ET | Aug. 17, 2015

Forget about a mere 15 percent increase in stock value -- how about a 90 percent one? That's how bullish Morgan Stanley analyst Adam Jonas is on Tesla....
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Tesla raises share offering to $642.5 million

7:10 am U.S. ET | Aug. 14, 2015

Electric automaker Tesla Motors said today it was looking to raise about $642.5 million through a share sale, above the $500 million it announced on Thursday....
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Tesla seeks to raise about $500 million through share sale

7:18 am U.S. ET | Aug. 13, 2015

Tesla Motors plans to raise about $500 million through the sale of 2.1 million shares. CEO Elon Musk has indicated an interest in buying nearly 84,000 shares for about $20 million in the offering, the company said today....
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BLOG: Tesla strikes while the iron's hot

1:11 pm U.S. ET | Aug. 13, 2015

At certain points in their lives, even obsessive billionaires like Elon Musk must come to terms with the fact that some things are beyond their control....
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CDK Global exploring sale to private equity firms, report says

4:52 pm U.S. ET | Aug. 11, 2015

CDK Global, one of the two dominant providers of dealer management system software used by auto retailers to help run their stores, is meeting with private equity firms to gauge their interest in buying the company, people with knowledge of the matter told Bloomberg....
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Tesla burns cash, loses more than $4,000 on every car sold

7:58 am U.S. ET | Aug. 9, 2015

It's crunch time for Tesla. The automaker is losing more than $4,000 on every Model S electric sedan it sells, using its reckoning of operating losses, and it burned $359 million in cash last quarter in a bull market for luxury vehicles. The company on Wednesday cut its production targets for this year and next....
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Mobileye posts Q2 gains on surging demand for automated driving technology

11:46 am U.S. ET | Aug. 7, 2015

Mobileye NV, one of the emerging providers of vision technology and software for crash-avoidance systems, said its net income surged in the second quarter as the auto industry continues to ramp up plans for autonomous cars....
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