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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.
Stocks are set to move higher at the opening, with the Dow heading straight for the 13,000 mark. European shares are higher, as the rising euro closes in on its all-time high against the dollar. Overnight, Asian stocks were lower, with Tokyo stocks falling on worries about the U.S. consumer after yesterday's weak housing data and consumer confidence number. Japanese automakers' shares were dented in the selling.
Honda Motor sees a tough year if the yen firms and dents export earnings, but it should still increase market share in Europe and the United States with its Civic and CR-V models and a new Accord sedan.
The guys go behind the headlines and give you their take on... Amazon... Lee Iacocca on Toyota... and more. Find out where they're making fast money.
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.
Stocks rose and the Dow moved closer to 13,000 after IBM announced a $15 billion stock buyback plan, as investors shrugged off disappointing data from the housing industry."With the liquidity out there and risk appetites increasing for investors ... you probably have to give upside the benefit of the doubt here," said Jeff Saut, chief investment strategist at Raymond James.
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.
Toyota Motor became the world’s top car manufacturer in terms of global vehicle sales for the first-quarter, taking the top spot from U.S. car maker General Motors, according to Toyota's figures out Tuesday.
Sometimes, a single comment can have deep meaning. Or at the very least, be worthy of a full-blown CNBC alert. General Motors Vice Chairman Bob Lutz managed to capture our attention with a single comment: that the “mortgage industry meltdown” is reducing affordability for auto buyers and negatively impacting April sales. As our Phil LeBeau explained when we threw him on the air to talk about this, such comments aren’t necessarily surprising...
Stocks closed lower as cautious comments from GM and Pfizer snapped the Dow's seven-day winning streak. "We've seen a really good move in the market and a little consolidation is healthy," said Bill Nichols, managing director of equity trading for Bear Stearns. "After being higher so much, a little profit-taking is only natural."
The crisis in the U.S. mortgage market has hurt U.S. auto sales this month, General Motors Vice Chairman Bob Lutz said on Monday.
At last week's Shanghai Auto Show, the GM CEO got an up-close view of the latest trend in the auto business -- cheap cars for developing markets. Oh make no mistake; this is not a trend that Wagoner is just stumbling upon. He's known about it for some time, and in some ways, General Motors is testing out the idea of selling "mini" cars -- with presumably a rather low price point. We'll talk more about that in a bit.
General Motors' global sales rose 3% in the first quarter, but its market share fell slightly as declines in North America offset strong demand in emerging markets, the automaker said on Thursday.
Chrysler Group Chief Executive Tom LaSorda on Wednesday said talks regarding a sale of the automaker were continuing and that "all options" remained open regarding the division's future with German parent Daimler.
An investor group's plans to buy bankrupt auto parts maker Delphi has hit a snag, with the union not agreeing to cut future wages and benefits for new hires, the Wall Street Journal reported on its Web site on Tuesday.
Wal-Mart, the world's largest retailer, has reclaimed its position as the largest corporation in the U.S. among the Fortune 500, pushing Exxon Mobil down to number two. With more than $351 billion dollars in revenue, the magazine ranks Wal-Mart slightly ahead of the energy giant. Wal-Mart is on top for the fifth time in six years.
CBS fired Don Imus from his radio show Thursday, the finale to a stunning fall for one of the nation's most prominent broadcasters. Imus initially was suspended for calling the Rutgers women's basketball team "nappy-headed hos" last week, but outrage continued and advertisers bolted from his programs.
NBC News has decided that its cable news channel, MSNBC will no longer simulcast the Don Imus radio program, effective immediately. CBS Radio says its two week suspension of the program stands although it is monitoring the situation. Advertisers have been defecting from the controversial radio host.
The storm over Don Imus' racial comments escalated as more advertisers pulled out from his show. CNBC's Donny Deutsch told "Power Lunch" that "I think Imus is done."