Aug 22- American Securities LLC- backed auto parts maker Metaldyne Performance Group Inc filed with U.S. regulators for an initial public offering of its common shares. Merrill Lynch, Pierce, Fenner& Smith, Goldman Sachs and Deutsche Bank Securities Inc are the lead underwriters for the offering, the company said.» Read More
General Motors said its first-quarter earnings slumped and revenue fell from the same quarter last year. The $305 million overall loss at finance arm GMAC "pretty much accounts for any difference in (earnings expectations)," GM Chairman and CEO Rick Wagoner told CNBC's Phil LeBeau.
Hey folks, time for the day's trivia questions. The video is worth $2,000 Bonus Bucks: General Motor's earnings came in below analyst expectations. What were earnings per share? Your selection of answers is: $0.17 or $0.10 or $0.19 or $0.23. The news question is worth $1,000 Bonus Bucks: RIM is rolling out a new smaller and lightweight full keyboard BlackBerry. What is the new smartphone called? Your selection of answers is: The Quartz or Blackberry Curve or Blackberry Qwerty or The Razor.
Here's a look at the stocks making contest "news." Earnings helped the best performers while M&A talks took their toll on the worst performers--as you'll see below. Charter appears on the most widely held list as well as taking its usual spot on the most actives. If there's a lesson here folks--it's earnings--which can boost a stock for big gains--but can also hurt. The guessing "game" as always, is to figure out which way they will go.
Truck maker MAN, which failed in its plan to buy Scania, said Thursday its first-quarter profit rose 47% as demand for its trucks and cost-cutting plans bore fruit for the company.
Luxury car maker BMW said Thursday its first-quarter profit dropped 38% as it spent more money on launching new models and because last year's figure included a one-time gain.
Chrysler's famous Hemi V-8 engine, known more for power than fuel economy, will become more fuel efficient when the company rolls out a hybrid version early next year. Chrysler Group announced Monday that it will offer a hybrid Hemi in its Dodge Durango and Chrysler Aspen sport utility vehicles that will improve their fuel economy by nearly 40% in the city and about 25% on the highway.
Legislation aimed at preventing retailers and other nonfinancial companies like automakers from operating a bank was approved by the U.S. House Financial Services Committee.
Hyundai Motor, South Korea's top automaker, on Wednesday posted a fourth consecutive fall in operating profit, hit by weaker sales amid a labor dispute, higher raw material costs and a firmer won currency.
As expected, April auto sales left a lot to be desired. Overall, they were lackluster. But if you look within the numbers, one thing is clear: CUV (crossover utility vehicle) sales continue to grow -- not surprising when you consider that buyers still want the versatility to haul people and stuff. The CUVs hitting the market allow us to do that, while getting slightly better gas mileage and giving a better ride than we get with traditional SUVs.
Hitting home: When a big story hits, it’s always very exciting. It’s also a bit nerve-wracking when the story, at least potentially, involves you personally. David Faber’s big scoop today qualified on both counts. During "Morning Call," David broke the story that News Corp. was bidding $60 per share to acquire Dow Jones -- sending quite a wave of excitement throughout our newsroom. It’s not just a potentially huge takeover deal -- it’s one that could change OUR lives tremendously.
General Motors, Ford Motor and DaimlerChrysler's Chrysler Group all reported April sales that beat expectations, defying predictions that the poor housing market and high gas prices would drag automobile sales sharply lower.
Chrysler Group announced Monday that it will offer a hybrid Hemi in its Dodge Durango and Chrysler Aspen sport utility vehicles that will improve their fuel economy by nearly 40% in the city and about 25% on the highway.
CNBC-TV had it's five for five segment today--that's where they look at five stocks making news this week. It's pretty much based on earnings. Jon Hilsenrath, editor at the WSJ was the guest to talk about the stocks. Again, these are not recommendations for the contest (or your personal portfolio) but more along the lines of what stocks could have a jump up or down.
U.S. auto industry sales have dropped far below expectations for April, a Ford Motor executive said on Friday, as rival General Motors rolled out an incentive program intended to boost crucial month-end sales.
Why are earnings so important? Well, this CNBC-TV news report today from Bob O'Brien shows what they can do. Bob focused on Goodyear, which admittedly is not a contest stock that might put you over the top, but with their earnings report out, the stock saw a 6.345 rise at one point today.
Steven Landry, who was named on Friday to take over Chrysler's sales efforts in North America, said the automaker plans to reduce fleet sales to 21% of its total sales volume by end 2009.
General Motors is offering lower-interest financing to customers with weaker credit ratings through this weekend in an effort to boost sales for April, sources familiar with the sales plan said.
Cummins, a diesel engine maker, posted a better-than-expected increase in quarterly profit as strength at its power generation and distribution businesses offset an expected decline in truck engine sales in North America.
General Motors suspended development work at two U.S. plants after talks between the union and management on cost cutting ended, the Wall Street Journal reported on its Web site on Friday.
Renault said first-quarter sales fell 2.7% to 10.256 billion euros ($13.948 billion) from a restated 10.541 billion euros ($14.336 billion) a year earlier, as a decline in European sales led to a 3.8% fall in the group's worldwide car sales.