Stocks capped a winning month with a 1-percent rally Friday as traders squeezed in a few last-minute trades to close out the month of May. Investors were encouraged by a jump in consumer sentiment and less-bad GDP report. Oil stocks benefited from the rise in oil prices. Dell ended higher after beating its earnings target. GM ended at 75 cents a share.
Get ready folks: America is about to own a car company. As of Monday, we the taxpayers will own more than 70 percent of GM. Whether the company will be formally renamed Government Motors remains to be seen. But that’s what it will be.
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Visteon, the top supplier to and a former subsidiary of Ford, filed for bankruptcy protection on Thursday, citing liquidity and debt problems, and turmoil in the automotive industry.
On a week dominated by GM, a weak dollar, and a rally in the commodities complex, the US markets rallied on Friday, to finish May in positive territory.
Stocks wobbled on Friday as investors were encouraged by a jump in consumer sentiment and a less-bad GDP report, but still remained jittery. Consumer sentiment improved in May to its highest level since last September as expectations for the future surged, but worries about current conditions persisted. Experts weighed in on the these topics and more…
How will male General Motors retirees get their motor runnin'? Do they start paying for their impotence drugs out of their own pocket? Because apparently, under the new deal the company won't pick up the tab anymore.
Stocks made another break higher Friday as investors were encouraged by a jump in consumer sentiment and less-bad GDP report. Oil stocks benefited from the rise in oil prices. Dell shot out of the gate after beating its earnings target but other techs were slow to follow. GM fell below $1.
The government bailout of General Motors includes a valuable prize for the ailing carmaker: a tax break that could save GM and its future investors more than $12 billion.
Gold and oil prices each climbed to multi-month highs Friday; first-quarter GDP contracted less than initially reported and consumer confidence rose — and GM shares dropped below $1 as a bankruptcy deadline draws closer. What does it all mean for the stock market? Art Cashin, UBS Financial Services director of floor operations, offered CNBC his insights.
Shares of General Motors have fallen below $1 for the first time in 76 years as a Chapter 11 bankruptcy filing for the automaker appears increasingly likely.
Stocks wobbled Friday as investors were encouraged by a jump in consumer sentiment less-bad GDP report but still remained a bit jittery. Dell shot out of the gate after beating its earnings target but other techs were slow to follow. GM fell below $1.
There will be reasonable economic recovery next year — and small caps will be the leaders, said Chuck Royce, portfolio manager at Royce Funds.
After five months and $19.4 Billion in federal aid, three restructuring plans, and the removal of one CEO, General Motors is locked, loaded, and ready to file for Chapter 11 Bankruptcy protection on Monday.
Stock index futures indicated a higher open for Wall Street Friday after the latest GDP report showed the economic decline began to slow in the first quarter.
Here’s a play on America’s ailing auto firms.
The Obama administration estimates that any GM bankruptcy would take at least 60 to 90 days and perhaps longer, a senior official said.
Last night debt-laden Toys R Us thrust itself into the high-end toy business by purchasing struggling toy chain FAO Schwarz. The two toy chains are surviving thanks in part to the financial backing of three prominent private equity firms.
Stocks ended higher Thursday as crude prices climbed after an inventory pare-down and the results of the Treasury bond auction eased concerns about government debt.
Peter Kenny, managing director at Knight Equities and Paul Hickey, co-founder of Bespoke Investment Group weighed in on the best places to invest now.