Stocks opened lower Friday as crude oil dropped below $71 a barrel and banks dragged after Bank of America lowered its outlook for the sector.
Futures pointed to a negative open for Wall Street Friday as crude oil dropped below $71 a barrel and banks dragged after Bank of America lowered its outlook for the sector.
The automobile sector broke out of its downward trend this spring, according to Royce Tostrams, technical analyst at Tostrams Groep.
Ford will likely trade more of its debt for equity, and sell more common stock, so it can improve its balance sheet until the company can become profitable in 2011, said CEO, Alan Mulally on Thursday.
When the federal General Services Administration announced this week that it had spent $287 million in stimulus money to buy 17,205 new cars, it turned out that the biggest beneficiary was the Ford Motor Company.
If there is one thing Kenneth R. Feinberg does not like to be called, it is a czar.
I can already hear the groans from fans of micro cars and the chortling from those who think the public is nuts to be excited over sub-compact cars.
The new General Motors may surprise people on the upside when the company emerges out of bankruptcy, said Roger Altman, former deputy treasury secretary and chairman of Evercore Capital Partners.
Within an hour of signing the papers officially creating a new Chrysler that is out of bankruptcy and in an alliance with Fiat, Marchionne sent an e-mail to Chrysler employees.
The economic crisis has been so severe that Michigan, with a $1.4 billion budget shortfall, is closing eight prisons to save money. It is also canceling more than 130 road and bridge repair projects because the state cannot come up with enough money to get matching federal funds.
Forty days. In the world of corporate bankruptcies, I guess you could call that a quick rinse. Now that Chrysler's balance sheet has been cleaned up (thanks in large part to billions in Federal financing), the auto maker is primed for life with Fiat.
With auto sales in the doldrums, the House approved a plan Tuesday to provide vouchers of up to $4,500 for consumers who turn in their gas-guzzling cars and trucks for more fuel-efficient vehicles.
Stocks ended mixed in choppy trading Tuesday after 10 banks were approved to repay TARP loans. But tech stocks gained after Texas Instruments raised its earnings and revenue targets for the second quarter.
Stocks ended mixed on Tuesday after 10 banks were approved to repay TARP loans. The companies are expected to give back some $68 billion, about twice what the government expected. Read and listen to what the experts had to say...
Chrysler and Italy's Fiat urged the US Supreme Court late Tuesday to move quickly on Chrysler's proposed sale to Fiat, saying their government-brokered deal could still unravel if it doesn't close by a June 15 deadline.
Chrysler headed back to bankruptcy court Tuesday to get a judge to approve the termination of 789 dealer franchises, while Chrysler's plan to become a stronger automaker partnered with Italy's Fiat awaits action by the nation's highest court.
Stocks turned mixed Tuesday after the banks approved to repay TARP loans were named. But tech stocks held onto their gains after Texas Instruments raised its earnings and revenue targets for the second quarter.
Edward Whitacre, former chairman and CEO of AT&T, will become chairman of General Motors when the company emerges from bankruptcy, said interim Chairman Kent Kresa Tuesday.
The road has been bumpy for automakers, but Hyundai is trying to navigate the potholes by revving up its quality, advertising and perception.
Stocks opened higher on Tuesday with financials leading. Ten banks are set to repay capital they received through the TARP. They're expected to give back some $68 billion, about twice what the government expected. Read and listen to what the experts had to say...