Wall Street

Ford posts 7% drop in Q1 profit, still sees 'breakthrough year'

7:02 am U.S. ET | April 28, 2015

Ford, which has forecast a "breakthrough year" for itself after remaking a large swath of its global lineup, today said its first-quarter net income fell 6.6 percent to $924 million as the launch of its aluminum-bodied pickup cut production....
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Group 1's net income rises 14% in Q1

7:50 am U.S. ET | April 28, 2015

Group 1 Automotive reported net income rose 14 percent to $36 million in the first quarter, driven by solid gains in sales of both new and used vehicles in its core operations in the robust US market....
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GM profit rises, aided by North America

7:45 am U.S. ET | April 23, 2015

General Motors posted stout first-quarter profits from truck sales in North America, but trouble in Russia and Brazil and lingering fallout from last year's recall binge kept a lid on earnings. GM's operating income excluding onetime items -- the figure that GM says best reflects its core performance -- was $2.08 billion....
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Fiat goes Dutch with first annual investor meeting in Amsterdam

6:38 am U.S. ET | April 16, 2015

After a century of meeting in Italy, Fiat shareholders convened today in Amsterdam, swapping the company's Lingotto factory with its rooftop racetrack for a luxury hotel in the Dutch city's red light district. Only 10 investors attended the session....
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Dura owner Lynn Tilton sues SEC after it charges her with fraud

12:04 pm U.S. ET | April 1, 2015

Escalating her battle with the federal regulators, flamboyant New York investor Lynn Tilton, who has a variety of automotive parts holdings, sued the US Securities and Exchange Commission to stop it from pursuing a case charging her with defrauding her investors....
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Auto-parts exec Tilton, 'turnaround queen,' faces fraud charges

9:44 am U.S. ET | March 31, 2015

Federal regulators accused financier and auto-parts executive Lynn Tilton and her advisory business of defrauding investors by hiding poor performance of assets underlying three collateralized loan obligation funds....
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Key Safety to use Mobileye vision tech to aid drivers

4:08 pm U.S. ET | March 30, 2015

Supplier Key Safety Systems said it has signed an agreement with Mobileye NV to use the software developer's vision processing chip for new types of driver assist technologies....
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GM faces union demands following stock buyback plan

6:00 am U.S. ET | March 10, 2015

General Motors CEO Mary Barra started off her second year in the job with an activist investor at her door after her first year was largely consumed by a safety investigation over fatally defective ignition switches. Now she'll need to contend with the UAW, another constituency looking for a slice of GM's cash pile....
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ZF-TRW deal to be approved by EU regulators, report says

1:48 pm U.S. ET | March 4, 2015

EU antitrust regulators are expected to clear German car parts maker ZF Friedrichshafen's $13.5 billion bid for US peer TRW Automotive Holdings with conditions, two people with knowledge of the matter told Reuters today....
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Fiat Chrysler may sell more than 10% of Ferrari in New York IPO

4:57 pm U.S. ET | March 3, 2015

Fiat Chrysler Automobiles may sell a stake exceeding 10 percent when its Ferrari division holds an initial public offering this year, as more investors than expected seek a share of the supercar manufacturer....
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Federal-Mogul delays split into two public companies

9:58 am U.S. ET | Feb. 26, 2015

Federal-Mogul, the powertrain and aftermarket parts supplier controlled by Wall Street investment mogul Carl Icahn, said this week it will delay a prior plan to split into two separate public companies during the first half of this year....
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Family owners of Ferrari say they will not sell stake

10:36 am U.S. ET | Feb. 18, 2015

Piero Ferrari, son of the eponymous luxury sports car company's founder Enzo Ferrari, said today he had no intention to sell the 10 percent stake his family owns in the company....
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Lear to buy more shares, boost dividend

10:09 am U.S. ET | Feb. 17, 2015

Weeks after receiving a letter from an activist investor urging the company to split into two separately traded public companies, Lear said today it will increase its share repurchase program and quarterly dividend....
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NEWS ANALYSIS

GM faces investor demand for slice of $25 billion cash hoard

8:34 pm U.S. ET | Feb. 12, 2015

An investor group demand that General Motors give back more of its $25 billion cash hoard confronts CEO Mary Barra with a challenge to her plans for building the company and rewarding shareholders....
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GM seeks banks' advice on dealing with activist investor group

12:13 pm U.S. ET | Feb. 12, 2015

General Motors has turned to two investment banks to help it come up with a response to a shareholder group demanding $8 billion in stock buybacks and a seat on the board of the automaker, the company told Reuters....
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BorgWarner Q4 revenue rises as net income declines slightly

11:04 am U.S. ET | Feb. 12, 2015

BorgWarner, the turbocharger and emissions systems supplier, reported today fourth-quarter gains in revenues and a slight decline in net income....
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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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Automotive News
Special Video Report
Smart use of phones, sales teams lift Wash. stores

Smart use of phones, sales teams lift Wash. stores

Sales employees at Ford and Hyundai of Kirkland have tapped smartphones to show how customers are “buying a relationship” with the group. Mon., May 4
» Watch the Video
     
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