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General Motors Co

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  • For the week ending Friday, August 1, 2008, the markets finished relatively flat after a turbulent week that saw 4 straight days of triple-digit moves on the Dow.  An early rally was dampened by weak economic data including weaker-than-expected GDP numbers and a rise in the unemployment rate. 

  • Auto Sales Prove No Bottom For Industry Yet Friday, 1 Aug 2008 | 4:28 PM ET
    Ugly Auto Sales

    The July sales rate dropped to it's lowest level since April of '92. Last month, the sales pace was 12.55 million. More than a million units slower than June. And unlike June nearly every automaker was down in July.

  • What Was Good And Bad For The Week Friday, 1 Aug 2008 | 4:19 PM ET

    Lots of volatility, but major indices flat for the week: Dow down 0.4 percent, S&P up 0.2 percent, NASDAQ flat.

  • Stocks Slide Amid Economic Worries Friday, 1 Aug 2008 | 4:00 PM ET

    Stocks got a quick pop from the better-than-expected July jobs report but the gains faded within the first 10 minutes of trading.

  • Oil Pump

    Oil prices settled slightly higher Friday, clawing back above $125 a barrel after Israel raised new concerns about Iran's nuclear program. But more concerns that high prices are eating into demand limited the gains.

  • Auto Sales: A Miserable Time For Everyone Friday, 1 Aug 2008 | 2:54 PM ET

    The stocks are showing only modest reaction to poor sales. Bulls will cite this as evidence that even a GM (down 5 percent, modest compared to its awful report) may be bottoming; bears say the outlook is so cloudy this could get even worse for them.

  • Trader Chatter: Time to Buy Equities! Friday, 1 Aug 2008 | 1:39 PM ET

    Forget capitulation -- it's time to buy equities! Arthur Cashin of UBS offers CNBC a sample of what traders are saying -- straight from the trading floor.

  • Stocks Retreat After ISM, Jobs Reports Friday, 1 Aug 2008 | 12:31 PM ET

    Stocks got a quick pop from the better-than-expected July jobs report but the gains faded within the first 10 minutes of trading.

  • Automakers Driven to Massive Losses in July Friday, 1 Aug 2008 | 12:27 PM ET
    Woman looks at new Toyota Camry on dealer lot

    U.S. auto sales tumbled in July, reflecting a deepening downturn in the industry, with tight credit and weak consumer confidence driving General Motors, Ford Motor and Toyota Motor to post double-digit declines.

  • Big Differences In Earnings and Analysts' Estimates Friday, 1 Aug 2008 | 11:48 AM ET

    What's the value of analyst estimates? Look at the enormous differences between actual earnings and analyst estimates for a couple of recent companies.

  • GM Earnings: Here's Why They Were So Bad Friday, 1 Aug 2008 | 10:36 AM ET

    We knew GM's second quarter earnings would be ugly, but I'm not sure many people expected this kind of number. Certainly Wall Street didn't since the estimate was for GM to lose $1.489 Billion. Turns out Gm's loss was 4 times worse: $6.3 Billion.

  • Stocks Pull Back After Initial Jobs Pop Friday, 1 Aug 2008 | 9:56 AM ET

    Stocks got a quick pop from the better-than-expected July jobs report but the gains faded within the first 10 minutes of trading.

  • GM's Loss: Not A Record But Hardly Trivial Friday, 1 Aug 2008 | 9:13 AM ET

    Significant losses in GM North America, the strike at American Axle, and continued losses at GMAC Financial were just a few of the problems. They say they have access to $26 billion in liquidity, and insist that they have enough liquidity to last through 2009.

  • European Stocks Fall on Selloff in Mining Sector Friday, 1 Aug 2008 | 9:05 AM ET

    European stocks fell on Friday, knocked lower by a sharp drop in mining shares that followed falling metal prices, while automakers retreated after a profit warning from BMW and GM's massive loss.

  • GM Loses $15.5 Billion as Truck Sales Dive Friday, 1 Aug 2008 | 7:57 AM ET

    General Motors posted a $15.5 billion quarterly loss Friday, as North American sales dropped by 20 percent and plunging prices for SUVs prompted deep charges for its auto finance business.

  • Market Insider: Friday Look Ahead Thursday, 31 Jul 2008 | 9:09 PM ET

    The jobs data is the make or break number for markets Friday. The monthly data, reported at 8:30 a.m., is expected to show a decline of 75,000 non-farm payrolls and an unemployment rate of 5.5%.

  • Dow Drops 205 Thursday, 31 Jul 2008 | 5:51 PM ET

    Despite their record breaking profits, Exxon Mobil dragged the Dow lower Thursday after its earnings fell short of Wall Street's expectations. Also comments from Alan Greenspan made on CNBC added to the downward momentum.

  • Automakers Expected to Post Big Drop in July Sales Thursday, 31 Jul 2008 | 5:32 PM ET
    Auto Sales Drop

    Automakers are expected to report on Friday that U.S. auto sales fell for a ninth consecutive month in July, as the industry hits its worst showing in 15 years.

  • GM Talking to Mahindra, Others on Hummer Sale Thursday, 31 Jul 2008 | 10:18 AM ET

    General Motors is in talks with Indian automaker Mahindra & Mahindra to sell its iconic Hummer brand, sources familiar with the matter said.

  • Is The Worst Yet To Come For GM? Thursday, 31 Jul 2008 | 8:18 AM ET
    General Motors logo

    Friday, Wall Street analysts are expecting GM to lose $1.489 billion. If they are right, the loss will be just short of the $1.631 billion GM lost (excluding charges) in that woeful third quarter of 2007.