The loosening of government control over GM could mean big dividends for shareholders, CNBC's Jim Cramer said on Tuesday.» Read More
I attended a meeting of about twenty-five hedge fund traders last night. These informal gatherings are fairly common on the Street; they're often sponsored by sell-side trading houses. Usually, it's a discussion on long and short positions of the various traders.
The top executive at General Motors said on Tuesday that the automaker was watching the downturn in the U.S. housing market closely and blamed the softness there for weakness in vehicle sales.
General Motors in its contract negotiations with the United Auto Workers union has proposed one option that excludes establishing a union-run healthcare trust but calls for deeper cuts in several areas, the Wall Street Journal reported in its online edition.
Like George Steinbrenner stocking his New York Yankees with All-stars, Cerberus Capital is loading Chrysler with big-time execs. The latest addition is Phil Murtaugh, who will run Chrysler's operation and expansion in China and India. In the last ten years, Murtaugh has carved out a reputation as the American who knows China and how to grow auto sales in that country.
I'm always amazed at the number of times someone will send me an e-mail or stop me when I'm out on a story and tell me something that they swear is the absolute truth. My favorite response: The Big 3 have no fresh ideas. Anyone who thinks that should check out the new Ford's with Sync coming out later this year.
Following are Tuesday's biggest winners and losers. Find out why shares of General Motors (GM), Daimler (DAI) and SunMicro (JAVA) popped while Mattel (MAT) and Avis Budget Group (CAR) dropped.
Yahoo is buying online advertising network BlueLithium for $300 million in cash, building upon an expansion aimed at ending a financial malaise that has ravaged the Internet pioneer's stock price.
Forget all the talk you will hear about people not wanting to buy a new car or truck. Some models ARE selling, and some brands ARE doing well while others muddle along. So with that in mind here is my list of who is cruising and who is losing in the auto biz.
Toyota said August U.S. sales fell 2.8%, citing weaker consumer confidence due to a meltdown in subprime mortgages. GM said U.S. sales rose more than 5%.
After "months and months" of increasing auto sales, Toyota Motor threw analysts for a loop when it posted U.S. August results, says Phil LeBeau. The company reported a sales drop of 2.8 percent from the year-ago period -- a "bit of a head-scratcher" for Wall Street.
Stocks closed higher across the board as investors were encouraged by solid economic data and bid up technology and energy stocks. "We're very, very bullish because we think the economy is going to continue to be in a positive trajectory," said Tony Dwyer, equity market strategist at FTN Midwest Securities.
Just when you thought GM was falling behind Toyota in the fight to win over pick-up buyers, the country's largest automaker put up a big sales number for August. Overall, GM's August sales came in better than expected with an increase of 5.3%. But the real surprise was with truck sales jumping 14.9 %
General Motors on Tuesday said U.S. sales rose more than 5 percent in August, boosted by strong demand for its pickup trucks and sport utility vehicles.
Nissan Motor posted a 6.3 percent increase in August U.S. sales from a year earlier, boosted by gains for its flagship Altima sedan, the automaker's U.S. sales chief said on Tuesday.
New vehicles are expected to set records for average gas mileage in 2007, driven by improved technology and demand for fuel-efficient vehicles, the government reported.
A few weeks ago, after writing a blog about the success Toyota has been enjoying, I was given a new nickname from a friend who is a retired Ford man who spent his career working in Detroit. He started calling me "Toyota Phil". The way he saw it, I've reported and blogged about Toyota's success so much, I must be the company's #1 fan.
Stocks are winding up for a higher open as traders focus on the Fed Chairman Ben Bernanke's Jackson Hole address and President Bush's expected subprime rescue plan for defaulting homeowners. Bernanke's 10 a.m. speech has been the buzz of global markets for more than a week and it is being watched carefully for any clues on how the Fed might react...
It's "prove it" time again for Cadillac. If you are into luxury cars, you might be thinking to yourself, 'wait, isn't it prove it time every 5 or 6 years for Cadillac?' Well yes, you are right. This time, while Cadillac is not hurting the way it was back in 2000 and 2001, but it is in need of a boost.
NBC Universal (owned by GE, which is parent company of CNBC) and News Corp are collaborating on a online video site to compete with YouTube, and today we learned its name: Hulu. (Go to hulu.com) to check out some of the video the on-demand service will be providing--you'll see that Fox's "24" and NBC's "My Name is Earl") are prominently featured.
In this special segment, the masters of Wall Street go face to face with some of the best business school students in the country. Students from Harvard, Yale, Columbia and Wharton are bringing their A-game via the webcam.