U.S. stocks closed slightly lower on Tuesday, as investors failed to hold positive momentum on domestic data and Greece debt talks.» 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.
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.
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.
Ford, Jones Soda, Flextronics and more...Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
A story crossed the Breaking News Desk today that prompted this learned comment from yours truly: “What?” Reuters reported that in an effort to boost April sales numbers at month’s end, General Motors would offer lower-interest financing through this weekend to customers with weaker credit ratings. Far be it for me to comment on sales strategy, but the story struck me as fascinating...
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.
Stocks ended mixed but the Dow closed at another record high as earnings continued to exceed expectations. "We were all expecting some kind of pullback but it's just one of those moves that you can't pinpoint with any single piece of data," said Mike Driscoll, managing director of listed trading at Bear Stearns.
Alan Mulally, Ford Motor's chief executive officer, told CNBC’s “Power Lunch” that the company is on track to make a profit in 2009.
Ford Motor said Thursday its first-quarter loss narrowed as cost-cutting and improved results at its European and luxury vehicle operations partially offset weaker sales and charges for restructuring.
Stocks are set to continue their move upward this morning, after world markets joined the Wall Street buying spree that pushed the Dow above 13,000 for the first time and brought the S&P 500 within striking distance of its 2000 high. Stronger-than-expected earnings continue to set the tone this morning, with reports from Ford, Exxon Mobil and 3M already in and Apple still aglow from yesterday's strong profit report.
Railroad company Norfolk Southern reported a lower quarterly profit citing softness in the U.S. economy, in particular the housing and automotive sectors, but beat analysts' forecasts.
Toyota became the world's top auto seller in the first three months of the year, passing rival General Motors for the first time, the Japanese automaker said Tuesday.
Toyota became the world's top auto seller in the first three months of the year, passing rival General Motors Corp. for the first time, the Japanese automaker said Tuesday.
The news out of Tokyo that Toyota eclipsed General Motors in 1Q sales is likely to elicit the usual round of "Detroit is dying" stories in the media. However, this news is not a surprise and does not mean Detroit is dead. Are the Big Three struggling to find their way domestically and globally? You bet.
Ford Motor said Tuesday it was recalling more than 500,000 Ford Escape sport utility vehicles after receiving reports of engine fires linked to corrosion on antilock brake connectors.
Ford Motor, which posted a loss of $12.7 billion last year, said Chief Executive Alan Mulally received $28.18 million compensation in 2006, including an $18.5 million bonus.
General Motors, Ford and DaimlerChrysler reported declines in March U.S. sales, fulfilling analysts' expectations that the Big Three U.S. automakers would all see a drop from the same month last year. Meanwhile, sales at Toyota rose, though less than expected.
Ford Motor Chief Executive Officer Alan Mulally told CNBC that the company’s restructuring plan is “on track.” “We have some areas that we’re watching closely,” he said in an interview with CNBC’s Phil LeBeau at the New York Auto Show. “But generally, we’re on plan both on the restructuring and on acceleration of new product development.”
Stocks closed higher across the board Tuesday as investors were encouraged by better-than-expected housing data and a steep pullback in crude oil prices. "The market was pleasantly surprised by the housing numbers," John Massey, portfolio manager at AIG SunAmerica, told CNBC.com. "That took out a significant amount of resistance and hesitation in the market, and tensions cooling in Iran led to a pullback in energy. It was a confluence of those two events."