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Top News & Analysis Michigan

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  • Puerto Rico Governor Alejandro Garcia Padilla shocked investors in June when he said the island's debt- totaling $72 billion- was unpayable and required restructuring. Puerto Rico has flagged that it will likely skip a $58 million payment due Aug. 1 on its Public Finance Corporation debt, which has weaker investor protection than some other bonds.

  • BLOOMFIELD HILLS, Mich. _ Taubman Centers Inc. on Thursday reported a key measure of profitability in its second quarter. The Bloomfield Hills, Michigan- based real estate investment trust said it had funds from operations of $47.9 million, or 76 cents per share, in the period. The average estimate of eight analysts surveyed by Zacks Investment Research was for...

  • BOSTON/ DETROIT, July 30- A researcher is advising drivers not to use a mobile app for General Motors Co's OnStar vehicle communications system, saying hackers can exploit a security flaw in the product to unlock cars and start engines remotely. Kamkar released the video a week after Fiat Chrysler Automobiles recalled some 1.4 million vehicles after hacking...

  • BOSTON/ DETROIT, July 30- A researcher is advising drivers to halt the use of a mobile app for General Motors Co's OnStar vehicle communications system, saying hackers can exploit a security flaw in the product to remotely unlock cars and start engines. "White-hat" hacker Samy Kamkar posted a video on Thursday saying he had figured out a way to "locate, unlock and...

  • WASHINGTON— Commerce Department releases personal income and spending data for June, 8:30 a.m.; Institute for Supply Management releases its manufacturing index for July, 10 a.m.; Commerce Department releases construction spending for June, 10 a.m.. WASHINGTON— Commerce Department releases international trade data for June, 8:30 a.m.; Institute for Supply...

  • SOUTHFIELD, Mich. _ Sun Communities Inc. on Thursday reported a key measure of profitability in its second quarter. The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 83 cents per share. Sun Communities expects full-year funds from operations in the range of $3.62 to $3.72 per share.

  • NOVI, Mich. _ ITC Holdings Corp. on Thursday reported second-quarter earnings of $72.3 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • DETROIT— An Ohio company is recalling about 90,000 SUV tires because the tread can separate, causing a loss of air and increasing the risk of a crash. The recall covers certain 15- and 16- inch Hercules Tire& Rubber Co. All Trac A/T tires made from June of 2008 to May of 2010.. The recall came after an attorney notified the National Highway Traffic Safety...

  • MILAN— Fiat Chrysler Automobiles on Thursday raised its revenue forecast after strong sales in North American and a recovery in the European market boosted second-quarter profits by 70 percent. The company said in a presentation to analysts Thursday that it didn't expect the Ram buyback offer to cost more than $20 million. Fiat Chrysler reported its net...

  • AUBURN HILLS, Mich. _ BorgWarner Inc. on Thursday reported second-quarter net income of $148.1 million. BorgWarner expects full-year earnings in the range of $2.95 to $3.10 per share. BorgWarner shares have fallen almost 5 percent since the beginning of the year, while the Standard& Poor's 500 index has risen slightly more than 2 percent.

  • LIVONIA, Mich. _ Tower International Inc. on Thursday reported second-quarter profit of $18.6 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1 per share. Three analysts surveyed by Zacks expected $493.2 million.

  • TROY, Mich. _ Talmer Bancorp Inc. on Thursday reported second-quarter profit of $17.5 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share. Three analysts surveyed by Zacks expected $75.7 million.

  • LAHAINA, Hawaii, July 29- Pacific trading partners are deadlocked over intellectual property protections, including monopoly periods for next-generation drugs, Japanese Economy Minister Akira Amari said on Wednesday. People briefed on the TPP talks saw signs of progress on other sticky issues, such as Canada's dairy market, as farmers kept up pressure for...

  • Countries involved in the Trans-Pacific Partnership free trade talks are considering a U.S. proposal for finance ministers to discuss currency questions, Australian Trade Minister Andrew Robb said on Tuesday. The move falls short of demands from U.S. lawmakers for tough rules against currency cheating, including from Levin, whose state of Michigan is home...

  • Con-way misses Street 2Q forecasts Wednesday, 29 Jul 2015 | 7:54 PM ET

    ANN ARBOR, Mich. _ Con-way Inc. on Wednesday reported second-quarter profit of $44 million. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share. Con-way shares have decreased 21 percent since the beginning of the year.

  • Gentherm misses Street 2Q forecasts Wednesday, 29 Jul 2015 | 7:45 PM ET

    NORTHVILLE, Mich. _ Gentherm Inc. on Wednesday reported second-quarter profit of $19.5 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share. Gentherm shares have climbed 39 percent since the beginning of the year.

  • Credit Acceptance beats 2Q profit forecasts Wednesday, 29 Jul 2015 | 6:39 PM ET

    SOUTHFIELD, Mich. _ Credit Acceptance Corp. on Wednesday reported second-quarter earnings of $74.2 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.55 per share. Credit Acceptance shares have climbed 71 percent since the beginning of the year.

  • Ford F-150 gets mixed crash test results Wednesday, 29 Jul 2015 | 6:38 PM ET

    DETROIT— Ford's new aluminum-sided F-150 pickup saw mixed results in new crash tests by the insurance industry, and the damaged trucks cost more to repair than steel-bodied ones. The four-door Super Crew version of the 2015 F-150 got top ratings in all five of the crash tests performed by the Insurance Institute for Highway Safety. The Insurance Institute also...

  • DETROIT— Standard& Poor's has boosted Detroit's rating on eight- to 15- year bonds the city plans to sell to improve public services. City officials said Wednesday that the better rating could get Detroit a lower interest rate and save $20 million in interest over the life of the bonds. The $245 million bonds are backed by city income tax revenue and were part of...

  • Tesla offers 1st incentive in owner referral program Wednesday, 29 Jul 2015 | 4:20 PM ET

    DETROIT— Electric car maker Telsa Motors Inc. is offering its first incentive, $1,000 to new-car buyers who are referred by current Tesla owners. Owners who make a referral also will get $1,000 in their Tesla account that can be spent on a car purchase, service or accessories. CEO Elon Musk said the $2,000 is about equal to what it costs to sell a car through a company...