Another day another GM recall 2.5 million airbags all from China made cars. I guess GM did not learn from GM USA recalls of the famous airbag that might explode or throw metal at you in a wreck. GM should of seen this coming!
A message for the GM Cult. jeye Analyst makes mistake in his GM report, now sees even deeper losses for stock J. Dolt of Germflask Financial revises its price target for GM shares much lower because it used an incorrect shares outstanding number. "This note corrects the PT from $28 to $24 due to an error in the DCF [discounted cash flow] share count - No other change," the firm said. A review of the first Jefferies report revealed the analyst used a 139.6 million shares outstanding number for Tesla in his valuation analysis versus the actual 165.2 million shares outstanding for the company.
Another point the union at CAMI is arguing on is the removal of the two tier system that has caused plenty of issues for workers and management alike. Not sure Gm will give in on this one. One point to consider regarding production is that new weld shop can only produce at a rate of 40 cars per hour but as we all know not ever white body gets to go to paint some are scrapped. We are in need of higher production from the new weld shop to go forward. We contribute greatly to GM's coffers and we need new investment. Time will tell.
Not A Short
Nice to see the price target raised by Morgan Stanley. If the stock price hits the target it will sport a PE of 7x 2017 estimates. A PE of 7x in a market valued at 20x is hardly expensive. I realize that GM is a cyclical company, but many other cyclicals are sporting much higher PEs (like CMI, CAT, DE, BA). This conflict in valuations is hard to understand and will be resolved in the next couple of years.
The 7x PE is actually overstated. If you use actual share counts instead of weighted share counts the 2017 estimated earning per share would be $6.50 - $6.60. This accounting anomaly that reduces earning per share in the year of a share reduction is often overlooked by the market.
GM Cami workers in Canada on strike. Another NAFTA result.
General Motors Co. auto workers went on strike at a Canadian plant for the first time in 21 years over jobs lost to Mexico, with the union’s president calling the situation “the poster child for what’s wrong with Nafta.”
Unifor, which represents about 6,500 GM workers in Canada, said it wanted the Detroit-based automaker to give the plant another vehicle to build in place of the GMC Terrain, which was moved to Mexico earlier this year, costing the plant in Ingersoll, Ontario, 600 jobs. The union has been battling to stop a wave of auto jobs and investment moving to cheaper locations south of the border.
“If you can’t keep your jobs when you have the best plant in the world, then you’ve got a problem,” Jerry Dias, president of Unifor, said in a phone interview. The plant has won several quality awards from J.D. Power and is recognized as one of the most productive plants in the world, the union said.
Under Nafta, Mexico’s light vehicle production more than tripled, from 1.1 million units in 1994 to about 3.5 million units in 2016, according to a report by the Federal Reserve Bank of Chicago. Canada, meanwhile, lost more than 53,000 automotive jobs from 2001 to 2014, according to a study by the Automotive Policy Research Centre.
The company has two plants in Mexico making small SUVs including the Equinox, weakening the union’s bargaining position.
This is the first strike at a Canadian assembly plant since 1996 when Unifor’s forerunner, the Canadian Auto Workers, held a three-week walkout at GM.
U.S. sales of the Equinox jumped 17 percent this year through August, according to researcher Autodata Corp. The model is GM’s second-best seller, behind only the Chevrolet Silverado pickup.
GM Hit With First Canada Strike in Decades on Nafta Losses
Output of top-selling Equinox SUV crimped in Ontario; union wanted another vehicle to replace jobs lost to Mexico
Only 19 useless stupid messages from drool No record here just his usual garbage!
Strike strike strike says GM Canada workers at Equinox plant in Quebec They want better pay more benefits and more spending on improving the assembly line where they work. They will strike Sunday night at 11PM. GM workers are getting strike signs out of the dustbin and are making new ones. Strike strike strike they say.
GM sells 2000 Bolts a month while TSLA model 3 has 500,000 orders where each and every order the customer had to put down a $1,000 deposit. TSLA models drive further on a charge and cost 2,000 less than a Bolt. The Bolt is only 40% made in USA while the model 3 is 100% made and assembled in Arizona. Why can GM not do the same is way beyond me.
TSLA up over 7 dollars today. Just something GM could never do in 8 years. GM could never make it more than 3 points past IPO price of $35.00 GM the union company VS TSLA a nonunion company. Going from IPO price of $25.00 to almost $400 dollars in about the same time frame. I guess one for all UAW does not apply here.one plant against the world.
Canadian just got to have more jingle in their pockets. To hell with everyone they say.Buy some shorts and be happy
I'm not sure whether someone bought 2.7 million shares or someone dumped them but I always post this for my readers Again a large NYSE trade at the 4 PM close 16:00: 6 38.70 2,760,215 NYSE 2 days in a row. jeye
Come on. I sold FCAU to add GM.. get up there.
You don't have to hate an American company.. GM is nothing different than an industrial company..
If industrial companies are traded with PE of 22.. GM can certainly have PE of 22.
GM is a tech company.
Tesla going over a cliff...
GM is the clear buy in this segment.
OK - here's an interesting fact about GM share price I learned today.
Over the past 1 year, here's how some key indices performed: DOW - up 22.87% NASDAQ - up 22.96% S&P - up 16.88%
And some GM competitors (that actually matter): Ford - DOWN 4.05% toyoDUH - up 2.61% (and up only 0.44% this calendar year)
Meanwhile, GM shares are up 25.54%. Plus dividends.
Morgan Stanley new price target on GM plus now his top pick. jeye Sep. 21, 2017 9:16 AM ET|By: Clark Schultz, SA News Editor Morgan Stanley takes its price target on General Motors (NYSE:GM) to $43 and calls the automaker its top pick in U.S. automobile. Analyst Adam Jonas crunches the numbers to derive a sum-of-the-parts valuation on GM of $56, which includes assessing the upside on Maven, Cruise Automation, Lyft and a standalone Cadillac. Jonas thinks GM will host an investor day before the end of the year to outline crucial strategy updates.
Fast and Furious...
A message for the Tesla Cult. jeye Analyst makes mistake in his Tesla report, now sees even deeper losses for stock Jefferies revises its price target for Tesla shares much lower because it used an incorrect shares outstanding number. "This note corrects the PT from $280 to $240 due to an error in the DCF [discounted cash flow] share count - No other change," the firm said. A review of the first Jefferies report revealed the analyst used a 139.6 million shares outstanding number for Tesla in his valuation analysis versus the actual 165.2 million shares outstanding for the company.
Fox News is Fake News
Whatever caused by the Hurricane, just don't name the Hurricane "DONALD" or "TRUMP". If they do, they may have to upgrade that Hurricane to Category "10" or higher. That new named hurricane could be extremely nasty, who knows? It could turn clockwise or counter clockwise or in any direction in a matter of second, Oh BTW, without noticed. It could pick up GM cars from factory to junk yard in less than a minute or scoop the illegal immi from Mexico and drop them off at GM assembly lines for less than $10/hr. Don’t blame immi for stealing your jobs, blame the Hurricane.