Wall Street

Wilson sees plenty to fix at GM

12:47 pm U.S. ET | Feb. 11, 2015

Harry Wilson has made it clear that General Motors' inert cash pile is just the first problem he would like a chance to fix if he gets himself elected to GM's board. "This is certainly much broader than a capital return question," Wilson said Tuesday....
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GM was considering buyback since before activist pressure, report says

3:46 pm U.S. ET | Feb. 11, 2015

Even before former Treasury official Harry Wilson showed up at General Motors asking for a share buyback, the automaker was considering just such a move that could come later in this year, a person familiar with the matter told Bloomberg....
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MIKE COLIAS

BLOG: How much damage can GM's financial 'fortress' sustain?

1:54 pm U.S. ET | Feb. 10, 2015

Marauders are storming GM's “fortress balance sheet.” Or at least, they're knocking loudly on the door....
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GM management too slow, vague, Wilson says

4:54 pm U.S. ET | Feb. 10, 2015

General Motors' management has been too slow to make changes that would improve profitability and too vague in setting near-term milestones for performance, the leader of an investor group seeking a seat on the board said on Tuesday....
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Former Obama aide says $8 billion buyback will unlock GM’s value

9:05 am U.S. ET | Feb. 10, 2015

Harry Wilson, a member of President Barack Obama's auto task force that restructured GM and Chrysler, intends to nominate himself for a seat on the board of GM and propose an $8 billion stock buyback, setting off a new debate over how to manage and allocate the company's financial resources....
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Group 1's adjusted Q4 net hits record; GAAP operating profits, net fall

8:56 am U.S. ET | Feb. 5, 2015

Group 1's fourth-quarter adjusted net income rose 41 percent to a record $41 million, on an 11 percent rise in revenue, the nation's third-largest auto retailer said today....
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Ontario sells last GM shares for $875 million

7:14 am U.S. ET | Feb. 5, 2015

Ontario’s government sold its last remaining General Motors shares acquired during the automaker’s 2009 bailout, saying it would invest the $875 million of proceeds in an infrastructure fund....
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GM to raise dividend, hints more for investors could come later this year

10:14 am U.S. ET | Feb. 4, 2015

General Motors said today it plans to raise its dividend by 20 percent, a move that comes as investors are calling on the auto giant to give them a bigger slice of the company's mounting pile of cash....
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Fiat Chrysler's U.S. operating profits rise in Q4

11:30 am U.S. ET | Feb. 3, 2015

Fiat Chrysler Automobiles' US subsidiary reported its fourth-quarter earnings excluding special items rose 1.5 percent to $669 million. For the year, FCA US reported a 31 percent gain on the same basis to $2.4 billion, as continued sales growth offset one-time charges related to its merger a year earlier....
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Activist investor urges Lear to split in two for seating, electronics

11:25 am U.S. ET | Feb. 3, 2015

An activist investor is urging Lear to split in two for better shareholder value. Marcato Capital Management LLC sent a letter to Lear's board today urging the company to split its two divisions -- electrical and seating -- into two separate companies....
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JCI quarterly net income grows 12% on higher volume

3:07 pm U.S. ET | Jan. 22, 2015

Supplier Johnson Controls said today its quarterly net income grew 12 percent, reaching $507 million, compared with $451 million during the same quarter last year. JCI is typically one of the first suppliers to release quarterly earning results, serving as a bellwether for supplier financial trends....
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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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