Wall Street

NEWS ANALYSIS

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....
Read More »

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....
Read More »

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....
Read More »

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....
Read More »

GABE NELSON

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....
Read More »

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....
Read More »

NEWS ANALYSIS

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....
Read More »

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....
Read More »

BorgWarner Q2 earnings fall 21%

10:29 am U.S. ET | July 30, 2015

Auto supplier BorgWarner said its second-quarter earnings and revenue were hurt by the stronger U.S. dollar and lower-than-expected sales in China and other parts of the world....
Read More »

FCA's Q2 profit rises 69% on strong NAFTA sales

9:02 am U.S. ET | July 30, 2015

Fiat Chrysler Automobiles said its second-quarter net income rose 69 percent to 333 million euros ($364 million) on a strong performance in North America and record global Jeep sales....
Read More »

Penske Automotive Q2 earnings rise 29.5%

9:06 am U.S. ET | July 29, 2015

Penske Automotive Group reported second-quarter net income rose 29 percent driven largely by a higher volume of vehicle sales and a solid performance in all business segments....
Read More »

Ford Q2 net soars 44% for strongest auto profit in 15 years

7:00 am U.S. ET | July 28, 2015

Ford's second-quarter net income increased 44 percent from a year earlier to $1.9 billion, marking the best quarterly profit from its automotive business since 2000. The automaker posted a record quarterly profit in North America, despite lackluster sales in the U.S., as the redesigned F-150 and other vehicles commanded higher prices....
Read More »

Fiat Chrysler exploring $3.3 billion sale of auto parts unit Magneti Marelli, report says

4:45 pm U.S. ET | July 17, 2015

Fiat Chrysler Automobiles is considering whether to sell its auto parts maker Magneti Marelli after receiving interest from potential buyers, sources familiar with the matter told Reuters. At least two private equity funds are looking to team up with industry players and submit joint bids for Magneti Marelli, which supplies all major carmakers in Europe, the Americas and Asia, three sources said....
Read More »

Ferrari IPO filing to come in days, Marchionne says

5:11 pm U.S. ET | July 10, 2015

Ferrari SpA, the supercar maker being spun off by Fiat Chrysler Automobiles, is close to filing for an initial public offering, Fiat Chrysler CEO Sergio Marchionne said....
Read More »

Ferrari picks UBS for stock listing, report says

2:58 pm U.S. ET | July 7, 2015

Ferrari SpA, the supercar maker being spun off by Fiat Chrysler Automobiles, picked UBS Group to help manage its initial public offering in New York later this year, people with knowledge of the matter told Bloomberg....
Read More »

Dura owner Tilton loses bid to halt SEC proceedings

2:37 pm U.S. ET | June 30, 2015

Lynn Tilton, the owner of auto supplier Dura Automotive and the so-called Diva of Distressed, lost a bid to halt a U.S. Securities and Exchange Commission in-house disciplinary proceeding against her after a federal judge said she was powerless to do so....
Read More »

Mexican supplier Nemak to launch $750 million IPO

11:38 am U.S. ET | June 30, 2015

Nemak SAB's expected $750 million initial public stock offering today marks the first stock offering of a Mexican auto supplier since at least 2000....
Read More »

GM asking advisors for help rekindles FCA merger talk

2:12 pm U.S. ET | June 18, 2015

General Motors seeking advice from investment banks shows it is taking an attempt by Fiat Chrysler Automobiles to force a merger with its larger U.S. rival seriously, analysts and traders said....
Read More »

GM credit raised to investment grade by Fitch

2:59 pm U.S. ET | June 18, 2015

General Motors said today that Fitch Ratings had raised the credit ratings of both GM and GM Financial to investment grade....
Read More »

Marchionne mulls 'Plan B' partners after GM rejection, report says

9:15 am U.S. ET | June 11, 2015

Fiat Chrysler Automobiles CEO Sergio Marchionne is looking at other automakers as merger candidates as the chances of striking a friendly deal with General Motors dwindle, people familiar with the matter told Bloomberg....
Read More »

Ferrari IPO delayed until after Oct. 12

1:37 pm U.S. ET | June 5, 2015

A planned initial public offering of luxury sports car maker Ferrari will not happen before Oct. 12, its owner Fiat Chrysler Automobiles said, adding the delay was due to tax issues....
Read More »

Icahn invests $100 million in Lyft as Uber rivalry grows

11:51 am U.S. ET | May 15, 2015

Lyft raised an additional $150 million, led by an investment of $100 million from Carl Icahn's investment company, raising the stakes in the car-hailing service's rivalry with Uber Technologies....
Read More »

How Tesla sent penny stock soaring 4,400%

12:48 pm U.S. ET | May 8, 2015

Market regulators halted trading on a penny stock from defunct Riviera Tool Company that was incorrectly linked to the Tesla Motors acquisition of Riviera Tool LLC....
Read More »

Analysts question Tesla's cash position

6:46 am U.S. ET | May 8, 2015

Analysts are voicing concerns about Tesla Motors' cash, saying the maker of electric cars and energy-storage products may need to raise money....
Read More »

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....
Read More »

Automotive News Cover
News by Brand