Wall Street

GM profits soar on strong truck sales, resilience in China

7:30 am U.S. ET | Feb. 3, 2016

GM posted pretax operating profit of $10.8 billion for 2015 -- including $2.8 billion in the fourth quarter -- as executives sought to reassure skeptical investors that there is plenty of profit potential remaining in the key U.S. and China markets....
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Ferrari shares slump to record low after saying sales growth will slow

3:33 pm U.S. ET | Feb. 2, 2016

Ferrari said sales growth will probably slow down in its first full year of independence from Fiat Chrysler Automobiles, sending the shares to their lowest level since the supercar maker's Oct. 21 initial public offering in New York....
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BorgWarner shrugs off its Wall Street beating

11:50 am U.S. ET | Feb. 1, 2016

BorgWarner is being punished by Wall Street. So far, though, CEO James Verrier isn't worried. The powertrain supplier has witnessed its share price plummet nearly 47 percent over 12 months....
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Ford generates $7.4 billion profit for 2015 after strong Q4

7:15 am U.S. ET | Jan. 28, 2016

Ford's net income quintupled in 2015 to $7.4 billion, including $1.9 billion in the fourth quarter, as sales of its high-margin pickups and SUVs surged in a record year for the U.S. auto industry. The company earned a fourth-quarter record of $2 billion in North America....
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AutoNation's Q4 net drops 16% on discounts, VW charge

7:45 am U.S. ET | Jan. 28, 2016

AutoNation's net income dropped 16 percent to $97.5 million in the fourth quarter, even as revenues rose 5.8 percent to $5.34 billion, the company said today. The decline was due largely to increased discounting and per-vehicle margin pressure....
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Johnson Controls posts lower quarterly earnings, revenue on auto weakness

10:18 am U.S. ET | Jan. 28, 2016

Johnson Controls reported lower quarterly earnings and revenue largely because of reduced sales in its automotive seating and interiors business. Net income dropped to $490 million, down 5 percent from a year earlier, the company said in a statement today....
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Fiat Chrysler Q4 adjusted earnings jump 39% as demand booms for Jeep SUVs

6:01 am U.S. ET | Jan. 27, 2016

FCA today said its adjusted earnings rose 39 percent to 1.64 billion euros, or $1.78 billion, in the fourth quarter on continued record sales of its Jeep brand. The company said it posted fourth-quarter revenues of $33.65 billion, up 11 percent, including Ferrari....
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No love for Ford on Wall Street

12:01 am U.S. ET | Jan. 25, 2016

Wall Street isn't sold on Ford executives' upbeat prognoses. As profits grow, its stock price keeps sinking. Last week Ford shares fell to their lowest closing price in more than three years. They've dropped 19 percent since January 2015....
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JCI merges with Tyco in tax-lowering maneuver

8:22 am U.S. ET | Jan. 25, 2016

Johnson Controls, already exiting the auto-industry’s supply chain after decades as a key player, is now seeking to shed its U.S. corporate citizenship in a multibillion-dollar tie-up with Tyco International....
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GM hikes 2016 profit forecast, boosts stock buyback by $4 billion

8:28 am U.S. ET | Jan. 13, 2016

GM raised its earnings projection for 2016 by 25 cents a share, increased the size of its share buyback and boosted the dividend to start the year....
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Ford expects 2015 pretax profit to set record, says '16 may be even better

6:58 pm U.S. ET | Jan. 12, 2016

Ford said it earned a record pretax profit of at least $10.5 billion in 2015 and that it would match or beat that result in 2016. It also said it would return $1 billion to shareholders in the form of a special 25-cent-per-share dividend, but the news failed to halt a three-month decline in the automaker's stock price....
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Ford expects $1.5 billion profit gain for '15 on pension accounting shift

8:00 am U.S. ET | Jan. 7, 2016

Ford said today it expects its 2015 earnings to be about $1.5 billion higher than it previously estimated, due to a change in how it will report pension gains and losses....
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Ally Financial targeted by activist hedge fund

12:16 pm U.S. ET | Jan. 6, 2016

The hedge fund pushing for changes at Ally Financial said today it wants to work closely with the U.S. auto loan company's management team but is disappointed with its initial response....
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GM invests $500 million in Lyft to bolster ride-hailing strategy

8:50 am U.S. ET | Jan. 4, 2016

GM and Lyft today announced an alliance to develop an on-demand network of autonomous vehicles as well as a $500 million investment by the automaker as part of a $1 billion fund-raising round by the ride-sharing service....
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NEWS ANALYSIS

Is self-driving technology becoming commoditized?

7:56 am U.S. ET | Dec. 20, 2015

George Hotz’s claim that he built a driverless car in his garage has created a debate on Wall Street about the future for automotive technology suppliers such as Mobileye....
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CarMax net, same-store sales dip in latest quarter

2:36 pm U.S. ET | Dec. 18, 2015

CarMax Inc.'s net earnings eased 1.4 percent in the three months ending Nov. 30, as same-store sales fell, the company said today....
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Stocks spotty for December sales push

12:01 am U.S. ET | Dec. 14, 2015

As automakers sprint toward a new annual U.S. auto sales record, the inventory cupboard isn't bare, but some shelves have thin spots....
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Visteon to return $1.75 billion to shareholders, buy back $500 million in stock

10:01 am U.S. ET | Dec. 10, 2015

Automotive electronics supplier Visteon today announced a $1.75 billion special cash distribution to shareholders and a stock buyback program of up to $500 million....
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Ferrari Q3 earnings jump on higher vehicle shipments

Oct. 28, 2015 15:06 CET

Ferrari reported a 22 percent rise in third-quarter adjusted core profit as a jump in vehicle shipments offset lower sales of engines to sister brand Maserati....
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Ford posts highest-ever N.A. profit as global earnings double

7:15 am U.S. ET | Oct. 27, 2015

Ford had its best-ever quarter in North America and more than doubled its global earnings from a year earlier as redesigns of the F-150 and other high-profit nameplates began to pay off. Ford posted third-quarter net income of $1.9 billion, up from $833 million in the same period of 2014. It earned a pretax profit of $2.7 billion in North America....
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Mitsubishi Q2 net falls 14% despite revenue gain

6:35 am U.S. ET | Oct. 27, 2015

Mitsubishi Motors' net income fell 14 percent to 28.1 billion yen ($234.6 million) in the fiscal second quarter ended Sept. 30, despite a 9.2 percent rise in revenues....
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Ferrari shares RACE ahead on Wall Street debut

1:15 pm U.S. ET | Oct. 21, 2015

Ferrari shares, trading under the ticker symbol RACE, jumped 15 percent to $60 on its Wall Street debut today after the Italian supercar maker priced its share offering at the top of the range amid heavy investor demand....
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GM's Q3 operating profit jumps 37% to $3.1 billion on truck gains

7:45 am U.S. ET | Oct. 21, 2015

General Motors' surging truck sales delivered heavy-duty profits during the third quarter, leading the automaker to its best financial performance since before its 2009 bankruptcy....
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Lithia gears up acquisitions to meet new profit goal

11:07 am U.S. ET | Oct. 21, 2015

Lithia Motors is ramping up its store acquisition strategy after setting aggressive new earnings goals. “We are looking at approximately 30 deals in the New Jersey and L.A. markets,” Lithia CEO Bryan DeBoer said today after reporting strong gains during the third quarter....
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Ferrari's shares won't come cheap or easily as expected IPO price rises

1:17 pm U.S. ET | Oct. 20, 2015

Demand could outstrip supply on Ferrari's initial public stock offering later today, and the shares may price at the top of an indicated range of $48-52 per share, people close to the matter said....
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