Wall Street

PHILIP NUSSEL

BLOG: Musk's $481 million paper loss in Detroit

12:10 pm U.S. ET | Jan. 16, 2015

In the world of Elon Musk, one off-hand remark can be expensive. On Tuesday, the Tesla CEO lost $481 million on paper after he mentioned "unexpectedly weak" sales in China. But after his celebrity-like appearance here, it was clear that Detroit's love for Musk is only going to grow....
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THE GM RECALL

GM accused of misleading investors over recalls

6:55 am U.S. ET | Jan. 16, 2015

General Motors managers misled investors and regulators for years about issues connected to vehicle ignition switch defects, shareholders said in a lawsuit accusing the company of inflating the stock's value....
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Magna forecasts surprise fall in 2015 revenue

9:22 am U.S. ET | Jan. 14, 2015

Canadian supplier Magna International forecast a surprise fall in fiscal 2015 revenue, hurt by falling sales in its production and contract manufacturing businesses....
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TI Automotive, Bain near deal a year after failed effort, report says

9:10 am U.S. ET | Jan. 14, 2015

TI Automotive, the auto fuel-systems maker that came close to a deal with Bain Capital Partners LLC last year, is again near an agreement to sell itself to the private equity firm, people with knowledge of the matter told Bloomberg....
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Ford boosts stock dividend 20% even after profit declines

9:14 am U.S. ET | Jan. 8, 2015

Ford raised its quarterly dividend 20 percent today, the third boost in as many years, even as the automaker has said profit would decline for 2014....
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Ford poised to raise dividend by 20%, forecast says

2:49 pm U.S. ET | Jan. 5, 2015

Ford is poised to raise its quarterly dividend 20 percent, the third boost in as many years, even as the automaker has said profit would decline for 2014....
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Hertz raises U.S. prices as fleet costs increase

5:16 pm U.S. ET | Dec. 23, 2014

Hertz Global Holdings raised prices for rental cars to be picked up January 1 or later. The stock had its biggest gain of the year, and Avis shares soared, too....
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CarMax says Q3 net income rose 22% to $130 million

9:14 am U.S. ET | Dec. 19, 2014

CarMax, the largest used-car seller in the United States, said net income surged 22 percent in its third fiscal quarter as easier credit boosted vehicle sales....
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Ally's six-year bailout ends after U.S. sells $1.28 billion stake

7:48 pm U.S. ET | Dec. 18, 2014

The Treasury disposed of its remaining $1.28 billion stake in auto lender Ally Financial, resolving the last big bailout from an emergency government program to halt the 2008 financial crisis. Ally said the government ultimately gained $2.4 billion from its investment....
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TRW shareholders approve $13.5 billion takeover by ZF

7:21 am U.S. ET | Nov. 20, 2014

TRW Automotive shareholders today approved a $13.5 billion takeover offer by Germany's ZF Friedrichshafen, the companies said, paving the way for a new global automotive supply powerhouse to rival Robert Bosch....
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GM getting positive reviews on Wall Street despite record recalls

8:51 am U.S. ET | Nov. 19, 2014

If relative value means anything, GM may be the best buy in the auto industry. That, at least, is the consensus of bullish analysts, who are extolling the highest-quality vehicles in decades and operating margins to go with them, even as GM suffers a record recall of cars....
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Carlyle’s Axalta auto-paint company rises in trading debut

4:16 pm U.S. ET | Nov. 12, 2014

Axalta Coating Systems, the former DuPont auto-paint unit now backed by Carlyle Group LP, rose in its first day of trading after raising $975 million in an initial public stock offering....
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Ferrari stock offering expected in Q2 or Q3 in 2015, Marchionne says

12:18 pm U.S. ET | Nov. 11, 2014

The initial public offering of luxury carmaker Ferrari is expected to happen between the second and the third quarter of 2015, Fiat Chrysler CEO Sergio Marchionne said today....
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Johnson Controls profit beats estimates as car seat demand rises

10:05 am U.S. ET | Oct. 30, 2014

Johnson Controls posted a better-than-expected quarterly profit, driven by higher sales of its car seats in North America and a lower expected tax bill....
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Fiat Chrysler Q3 profit rises on Jeep demand

9:16 am U.S. ET | Oct. 29, 2014

Fiat Chrysler Automobiles reported a 7.4 percent increase in profit in the third quarter, bolstered by sales growth in the United States....
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Ford's Fields takes his lumps in Q3, looks to next year

7:06 am U.S. ET | Oct. 24, 2014

Ford CEO Mark Fields today delivered the first report card on his performance since taking over for Alan Mulally. He gave every sign that he'll have more to show off next year. While earnings and revenue fell, Fields said new vehicles on tap will deliver "strong, profitable growth."...
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Fiat Chrysler's targets seen at risk as N.A. still pressured

2:07 pm U.S. ET | Oct. 24, 2014

Fiat Chrysler Automobiles could find it tough to meet its 2014 profit guidance and may cut forecasts when it reports quarterly results next week as slowly recovering North America profit margins may fail to fully offset weakness in Europe and Latin America....
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Delphi Q3 profit rises on higher demand in Asia, North America

7:39 am U.S. ET | Oct. 24, 2014

Delphi Automotive today reported a 12.5 percent rise in quarterly profit as demand for its auto parts rose in Asia and North America....
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Lear says Q3 profit rises 24% as global production grows

7:46 am U.S. ET | Oct. 24, 2014

Lear, which supplies auto seats and electrical power systems, today reported a 24 percent rise in quarterly profit, helped by a rise in global vehicle production....
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Fiat's Wall Street trading is flat as Milan dominates

Oct. 22, 2014 11:58 CET

Fiat Chrysler Automobiles has had a flat reception on the New York Stock Exchange after its debut there last week. European trading in Milan is currently about 7 times that of Wall Street, despite FCA shifting its primary listing to the U.S....
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Fiat Chrysler's Wall Street debut draws muted response

Oct. 14, 2014 09:32 CET

Investors cautiously greeted the Wall Street debut on Monday of Fiat Chrysler Automobiles, a move that shifts the carmaker's center of gravity away from Italy and caps a decade of dealmaking and tough restructuring by CEO Sergio Marchionne....
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Lithia predicts Q3 net income gain despite lower used-car profits

2:19 pm U.S. ET | Oct. 13, 2014

Lithia Motors expects to report a gain in third-quarter unadjusted net income, boosted by improved new-vehicle sales, service and parts business and F&I revenue, it said in a statement today. But Lithia said its third-quarter operating income was mitigated in part due to narrowing used-car profit margins because of a dip in used-car values....
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Fiat Chrysler crowns merger with Wall Street debut

1:00 pm U.S. ET | Oct. 12, 2014

Fiat Chrysler Automobiles makes its Wall Street debut to great fanfare on Monday, shifting the carmaker's center of gravity away from Italy and capping a decade of canny dealmaking and tough restructuring by CEO Sergio Marchionne....
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Five technologies auto suppliers can bank on, analyst says

3:58 pm U.S. ET | Oct. 10, 2014

The next six years will be boom times for suppliers with the right technology. LED front lights, telematics, cameras, radar and lithium ion batteries are five technologies that will enjoy the biggest growth in global sales through 2020, predicted Itay Michaeli, Citigroup Inc.'s automotive research director....
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Agnelli family tightens grip on Fiat Chrysler ahead of Wall Street debut

Oct. 10, 2014 11:13 CET

The Agnelli family has tightened its grip on Fiat by securing higher voting rights after the carmaker's merger into Fiat Chrysler Automobiles. The move by the Agnellis' holding company, Exor, could make Fiat Chrysler less of a takeover target....
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