"we did the pop? now the drop?"
They triggered stop loss for the ones that shorted, then they triggered stop-loss for the ones who were long...That's "the game"
You took home nothing, they took home the commissions from you
YoY GM profits are way down, not up. Simply read the press release to see that. This report is a disaster, imo, no matter how they try to portray it as a good report.
(((For the year, GM posted $152.3 billion in revenue, compared to $150.3 billion in 2011. Its profit for 2012 was down to $4.9 billion, or $2.92 per fully diluted share, compared to $7.6 billion, or $4.58 per fully diluted share in 2011, due primarily to unfavorable special items.)))
$4.58 per share last year.
$2.92 this year.
If you think that is up, then I don't know what to tell ya.
"If you think that is up, then I don't know what to tell ya."
I believe they are talking about Q4, at the end of the day, that's all that's new. The rest was all previously disclosed in prior filings, right? Can't imagine that history is important to a savvy investor like yourself...need to be in the present and future.
Here's what was disclosed today:
-YOY Q4 profit up from $0.28 last year to $0.54 this year (up 93%)
-The large amount of Goodwill that you were always so concerned about is gone
-Pension obligations are down $26.4 billion
-Global deliveries are up by 94K
-Consolidated EBIT is up slightly
Some of the things I didn't like:
-Even though it was a spectacular year for cash from operations (+$9.6 Billion), Q4 was down from Q4 last year ($1.2B to $0.5B). Free cash flow actually increased, however, from -$0.2B last year to +$1.1B this year
-Cash was down $5.8 billion from Q3 (I assume it's largely due to the buy back of the 200 million shares from the UST). We'll be able to see that when the cash flow statement is published.
-Global market share is down 0.1% from 11Q4.
I wouldn't call it a spectacular quarter, I would call it solid.