Top News & Analysis Michigan

More

  • BENGALURU/ DETROIT, July 26- A widening rift between electric vehicle maker Tesla Motors Inc and Mobileye NV sent shares of the Israeli maker of driving-assistance chips and software plunging on Tuesday. Mobileye shares, which have been wildly popular with institutional and tech investors, were down 12.6 percent to $43.09 at mid-morning, after the company...

  • DETROIT _ Ally Financial Inc. on Tuesday reported second-quarter net income of $360 million, after reporting a loss in the same period a year earlier. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share. Ally Financial shares have decreased slightly more than 5 percent since the beginning of the...

  • LIVONIA, Mich. _ Tower International Inc. on Tuesday reported a second-quarter loss of $4.8 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Livonia, Michigan- based company said it had a loss of 23 cents. Keywords: Tower International, Earnings Report.

  • TAYLOR, Mich. _ Masco Corp. on Tuesday reported second-quarter net income of $150 million. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share. Masco shares have increased 21 percent since the beginning of the year, while the Standard& Poor's 500 index has risen 6 percent.

  • DETROIT _ DTE Energy Co. on Tuesday reported second-quarter net income of $152 million. DTE Energy expects full-year earnings in the range of $4.91 to $5.19 per share. DTE Energy shares have increased 23 percent since the beginning of the year, while the Standard& Poor's 500 index has risen 6 percent.

  • NEW YORK/ CHICAGO, July 26- Record low interest rates so far have failed to spur a wave of new borrowing in the $3.7 trillion U.S. municipal debt market, with one exception: its weakest borrowers are seizing the opportunity to prop up their finances at costs they can afford. Some cash-strapped areas, including Illinois and low-rated Chicago, can also issue bonds for...

  • ROCKFORD, Mich. _ Wolverine World Wide Inc. on Tuesday reported second-quarter profit of $24 million. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share. Five analysts surveyed by Zacks expected $577.4 million.

  • TROY, Mich. _ Flagstar Bancorp Inc. on Tuesday reported second-quarter earnings of $47 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share. Flagstar Bancorp shares have climbed 16 percent since the beginning of the year.

  • NEW YORK/ CHICAGO, July 26- Record low interest rates so far have failed to spur a wave of new borrowing in the $3.7 trillion U.S. municipal debt market, with one exception: its weakest borrowers are seizing the opportunity to prop up their finances at costs they can afford. Some cash-strapped areas, including Illinois and low-rated Chicago, can also issue bonds for...

  • BLOOMFIELD HILLS, Mich. _ Agree Realty Corp. on Monday 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 $13.8 million, or 61 cents per share, in the period. The average estimate of six analysts surveyed by Zacks Investment Research was for funds...

  • DETROIT— Fiat Chrysler is recalling nearly 410,000 vehicles worldwide because a wiring problem can cause them to move slowly. The company said Friday that the recall covers some Jeep Renegade and Cherokee SUVs, Chrysler 200 sedans and Ram ProMaster City vans from the 2015 model year. Vehicles built after Sept. 23, 2014 aren't affected.

  • Limited details of the plan were made public last week at a regional dealer meeting in Newark, New Jersey, by Volkswagen of America Chief Operating Officer Mark McNabb, said the dealers, who asked not to be identified because the plan hasn't been made public. Both dealers said they were told that more testing was needed and that the plans still had to be approved by...

  • LONDON, July 22- The number of London Metal Exchange physical storage units continues to decline in tandem with falling registered stocks. As of July 8 there were 608 registered warehouses for the storage of base metals, down from 621 a year ago and from almost 700 in 2012 and 2013.. Total exchange-registered stocks have fallen to 3.6 million tonnes from over 7.5...

  • ZEELAND, Mich. _ Gentex Corp. on Friday reported second-quarter net income of $86.5 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share. Five analysts surveyed by Zacks expected $419.8 million.

  • The maker of Maytag, KitchenAid and other appliances also reported a larger second-quarter profit than Wall Street had expected. Excluding one-time gains related to tax adjustments and other one-time items, Whirlpool earned $3.50 per share, way better than the projections of $3.35 from analysts that follow the company, according to a poll by Zacks...

  • July 21- Elon Musk's latest "master plan" for Tesla Motors Inc to develop an electric commercial truck, a public bus, a pickup and systems to enable fully autonomous driving could cost $2 billion to $3 billion or more, experts and analysts said Thursday. However, analysts said it is likely Tesla will have to go back to investors for more capital to fund the plan, despite...

  • NEW YORK, July 21- An Arab-American family whose business and personal bank accounts were closed in 2014 without explanation can sue JPMorgan Chase for racial discrimination, a federal judge in Detroit has ruled. Filed in February, the lawsuit by Najah Manni, his wife Kathy and their two children says the largest U.S. bank further discriminated against them by...

  • KALAMAZOO, Mich. _ Stryker Corp. on Thursday reported second-quarter profit of $380 million. Ten analysts surveyed by Zacks expected $2.8 billion. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.41.

  • NEW YORK, July 21- Comcast Corp, the No. 1 U.S. cable company, said on Thursday it will introduce prepaid TV and internet services to attract customers whose credit ratings do not quality them for postpaid services. The service will roll out later this year in Illinois, Michigan, Georgia, Florida and Indiana, and will extend to the entire country by the end of 2017,...

  • July 21- Elon Musk's latest "master plan" for Tesla Motors Inc to develop an electric commercial truck, a public bus, a pickup and systems to enable fully autonomous driving, could cost $2 billion to $3 billion or more, experts and analysts said Thursday. However, analysts said it is likely Tesla will have to go back to investors for more capital to fund the plan, despite...