Wall Street

Fiat-Chrysler likely to list stock in New York, further sidelining Italy

Jan. 6, 2014 06:01 CET
CEO Sergio Marchionne's merger of carmakers Fiat and Chrysler will probably entail a share listing in the United States that cements North America as the group's new center of gravity and further sidelines Italy.... Read More »

 

Fiat-Chrysler likely to list stock in New York, further sidelining Italy

3:47 pm U.S. ET | Jan. 5, 2014
CEO Sergio Marchionne's merger of carmakers Fiat and Chrysler will probably entail a share listing in the United States that cements North America as the group's new center of gravity and further sidelines Italy.... Read More »

 

Fiat shares jump 16% on Chrysler merger deal

Jan. 2, 2014 17:56 CET
Fiat's $4.35 billion deal to gain full control of Chrysler Group sent its shares to a near 2-1/2-year high in Europe today, despite doubts over whether the Italian carmaker could use the merger to cut losses in Europe.... Read More »

 

Fiat shares jump 16% on Chrysler merger deal

11:56 am U.S. ET | Jan. 2, 2014
Fiat's $4.35 billion deal to gain full control of Chrysler Group sent its shares to a near 2-1/2-year high in Europe today, despite doubts over whether the Italian carmaker could use the merger to cut losses in Europe.... Read More »

 

Hertz shares jump after board adopts 'poison pill' stock plan

8:42 am U.S. ET | Jan. 1, 2014
Hertz Global Holdings rose to a record high after the largest publicly traded rental-car company said it adopted a so-called poison pill upon seeing “unusual and substantial activity” in its stock.... Read More »

 

Ford predicts 2014 profit drop on busiest year for new models

9:43 am U.S. ET | Dec. 18, 2013
Ford, entering its busiest year for new car and truck introductions ever, said that the cost of bringing those vehicles to market will lead to a decline in its pretax profit next year. Ford shares fell 6.3 percent today.... Read More »

 

BorgWarner buys German exhaust-gas technology specialist

11:25 am U.S. ET | Dec. 18, 2013
Supplier BorgWarner said it has agreed to acquire Germany’s Gustav Wahler GmbH, a company that specializes in exhaust gas recirculation products.... Read More »

 

GM CEO sees greater 'bandwidth' for paying dividends in 2014

4:55 pm U.S. ET | Dec. 16, 2013
General Motors, with improved cash flow and fewer outstanding preferred shares, is in a better position to consider paying a dividend next year, CEO Dan Akerson said.... Read More »

 

U.S. sells last of GM shares, ending 'Government Motors' era

4:22 pm U.S. ET | Dec. 9, 2013
The Treasury on Monday sold its last shares of General Motors stock, ending more than four years of government ownership in the nation's largest automaker at a loss of about $10.5 billion to U.S. taxpayers. The government said in a statement that it recouped $39 billion of its original $49.5 billion investment into GM. Company executives and dealers say that the stigma of federal ownership, which earned GM the derisive nickname “Government Motors,” has hurt sales.... Read More »

 

Wilbur Ross will postpone IPO for supplier IAC, report says

Dec. 6, 2013 06:01 CET
Billionaire Wilbur Ross's auto supplier International Automotive Components Group SA is delaying its initial public offering until 2014, two people with knowledge of the matter told Bloomberg.... Read More »

 

Wilbur Ross will postpone IPO for supplier IAC, report says

3:25 pm U.S. ET | Dec. 5, 2013
Billionaire Wilbur Ross’s auto supplier International Automotive Components Group SA is delaying its initial public offering until 2014, two people with knowledge of the matter told Bloomberg.... Read More »

 

GM gets investment from Hayman Capital as U.S. exits, report says

1:46 pm U.S. ET | Dec. 4, 2013
Investment company Hayman Capital Management has taken a stake in General Motors, a person familiar with the matter told Bloomberg. The automaker is poised to appreciate as the federal government winds down its ownership stake, the hedge fund said.... Read More »

 

General Motors said to plan sale of stake in Ally, report says

1:28 pm U.S. ET | Dec. 4, 2013
GM is planning to sell its stake in Ally Financial, the auto lender majority owned by American taxpayers, a person with knowledge of the transaction told Bloomberg. Selling now would allow GM to avoid a months-long lockup tied to Ally’s initial public offering, according to the person, who asked to remain anonymous because the deal isn’t public.... Read More »

 

GM's $27 billion cash hoard seen tempting activists

Nov. 27, 2013 06:01 CET
General Motors will be a tempting target for activist investors if it doesn't quickly return cash to shareholders from what the automaker calls its "fortress balance sheet."... Read More »

 

GM’s $27 billion cash hoard seen tempting activists

9:09 am U.S. ET | Nov. 26, 2013
General Motors will be a tempting target for activist investors if it doesn't quickly return cash to shareholders from what the automaker calls its "fortress balance sheet."... Read More »

 

TrueCar said to consider IPO in 2014

6:52 am U.S. ET | Nov. 25, 2013
TrueCar is considering selling shares in an initial public offering in the first half of 2014, two people with knowledge of the matter said.... Read More »

 

GM investors expect buybacks, dividend after U.S. exit

3:06 pm U.S. ET | Nov. 25, 2013
General Motors investors are focused on the possibility of stock buybacks or a dividend on common shares now that the Treasury has outlined its plans to sell the rest of its GM stake by year end, analysts said.... Read More »

 

U.S. plans to sell remaining 31.1 million GM shares by year end

9:50 am U.S. ET | Nov. 21, 2013
The Treasury Department said it expected to sell its remaining 31.1 million shares of General Motors by the end of the year, a plan that may leave taxpayers with a shortfall of about $10 billion on the automaker's 2009 bailout.... Read More »

 

Johnson Controls stock rises 4.4% after boosting buyback by $3 billion

1:25 pm U.S. ET | Nov. 21, 2013
Shares in auto supplier Johnson Controls rose to their highest level since at least 1980 after the company said it will boost a stock-buyback program by $3 billion on greater confidence in its outlook for fiscal 2014 and beyond.... Read More »

 

Tesla Model S probed by U.S. after three fires in five weeks

5:58 am U.S. ET | Nov. 19, 2013
Tesla Motors' Model S, the plug-in electric sedan marketed by the company as “the safest car in America,” is being investigated by federal auto regulators in a possible precursor to a recall.... Read More »

 

Tesla Model S probed by U.S. after three fires in five weeks

Nov. 19, 2013 11:58 CET
Tesla Motors' Model S, the plug-in electric sedan marketed by the company as “the safest car in America,” is being investigated by U.S. federal auto regulators in a possible precursor to a recall.... Read More »

 

Sonic’s Q3 net income more than doubles

12:14 pm U.S. ET | Nov. 8, 2013
Sonic Automotive's third-quarter net income more than doubled as revenue from new and used vehicles improved. Sonic reported third-quarter net income of $23.3 million compared to $10 million a year earlier.... Read More »

 

Ally’s Q3 net falls 76%, but auto operations flat

1:45 pm U.S. ET | Nov. 5, 2013
Ally Financial said today its auto finance volume and pretax income were flat in the third quarter, even as overall net tumbled due to special charges.... Read More »

 

Delphi posts small gain in Q3 profits

1:32 pm U.S. ET | Nov. 5, 2013
Technology and powertrain components supplier Delphi Automotive, citing strong demand for its products in North America and Asia, said net income in the third quarter rose 1 percent to $271 million from $269 million in the year-earlier period.... Read More »

 

Toyota expected to earn record half-year profit on weaker yen

10:46 am U.S. ET | Nov. 4, 2013
Toyota will probably deliver record semiannual profit when it reports earnings Wednesday, as the weaker yen bolsters the value of Japanese cars sold overseas.... Read More »

 

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