|Bid||34.55 x 2900|
|Ask||34.76 x 4000|
|Day's Range||34.41 - 35.08|
|52 Week Range||32.97 - 41.90|
|Beta (5Y Monthly)||1.34|
|PE Ratio (TTM)||7.58|
|Forward Dividend & Yield||1.52 (4.31%)|
|Ex-Dividend Date||Mar 04, 2020|
|1y Target Est||N/A|
General Motors’ top-quality credit rating in May 2005, sending $41.5bn of debt crashing into junk territory and creating the largest ever “fallen angel”, it triggered the biggest sell-off in corporate bond markets since the dotcom bust. Along with the simultaneous downgrade of Ford, which remains the second-largest fallen angel after its $40.8bn of debt was docked, the bedrock of corporate America shook. “It is not just they that have a problem,” Gary Jenkins, a credit strategist at Deutsche Bank, said at the time.
Of course, at this price point, some people will complain about the lack of third-row seating availability (hey, that’s whey they call it a small SUV!), or lack of a bigger, more powerful engine.
Developers of self-driving cars are amping up criticism of a California reporting requirement on test data, saying the data could mislead, as the state prepares to release the latest results for 2019. Companies such as General Motors Co's Cruise and startup Aurora have said the metric, called disengagements, is not an accurate or relevant way to measure their technical progress, even though it is widely used to do just that. The debate is taking on more importance amid delays in the rollout of self-driving vehicles and concerns over a lack of regulation and the prospects for profitability for the companies that make such vehicles.
Reuters reported Tesla is moving closer to building a gigafactory in Germany. Tesla needs to build more capacity in coming years to meet the growing demand for electric vehicles.
Magna International (NYSE: MGA ) reported a better-than-expected fourth-quarter profit Friday despite headwinds from the General Motors Company (NYSE: GM ) strike, but the company also warned of potential ...
Everi, Franklin Electric, Tesla, General Motors and Fiat Chrysler highlighted as Zacks Bull and Bear of the Day
Russian technology start-up Cognitive Pilot, which makes components for driverless vehicles, is considering an initial public offering (IPO) after 2023, its chief executive told Reuters. Cognitive Pilot develops components for self-driving cars as well as autonomous control systems for agricultural machinery, trains and trams. It lists state rail operator Russian Railways, farming conglomerate Rusagro and South Korean auto parts maker Hyundai Mobis among its clients.
(Bloomberg) -- If FTI Consulting Inc. suffers from a lack of name recognition, its clients don’t.The firm, staffed with former FBI, MI-6 and Mossad agents, has advised everyone from Jeff Bezos in the alleged Saudi phone hack case that United Nations experts got involved with last month, to George W. Bush and O.J. Simpson’s defense team -- not to mention helping recover billions stolen by Bernie Madoff.It’s paid off for investors, at least recently. After going nowhere since the 2008 recession, FTI’s market value has almost tripled, rising 191% to $4.7 billion, after beating Wall Street projections in the last two years. The Washington, D.C.-based company is expecting 2019 results, to be released on Feb. 25, to show a second-straight year in which profit increased by more than 40%.The question now is how long FTI’s recent growth will last. In years past, it relied in part on numerous mergers and acquisitions. FTI’s restructuring business also did well during the recession, working on the bankruptcies of Lehman Brothers, General Motors and CIT Group.Under Chief Executive Officer Steven Gunby, who started in 2014, FTI has focused more on organic growth, expanding into areas such as cybersecurity and lobbying. But wary investors now want to see another couple of years of growth, said Tobey Sommer, a longtime FTI analyst for SunTrust Robinson Humphrey Inc.“There’s a lot of skepticism” among investors that FTI can keep growing organically, he said. The shares fell 2.6% on Thursday, the most since November, closing at $125.89. Even so, the stock should climb to $155 in a year, he projects, or a 20% increase from Wednesday’s closing price. The bullishness was echoed by Joe Kunkle, head of research at Relativity Capital Advisors, which has owned FTI shares. He said the stock’s valuation remains fairly cheap and Wall Street profit expectations are too pessimistic. FTI shares trade at about 22 times earnings, roughly the same as the S&P 500 Index.FTI declined to comment. In a presentation in November, it said it’s on a path of “sustained double-digit” growth in adjusted earnings-per-share. It expects to post annual profit, excluding some items, of as much as $6 a share on annual revenue of $2.25 billion to $2.3 billion, both records.Founded in a warehouse in Annapolis, Maryland, in 1982, Forensic Technologies International initially assisted lawyers in finding expert witnesses and then went on to help bring computer modeling and animation to courtrooms. For Simpson’s defense, it built an illustrated timeline. In 1996, the company went public at $8.50 a share.Over the next decade the company changed its name and bought rivals to expand into restructuring, bankruptcy, accounting, risk advisory and public relations. It helped Bush with trial graphics in the Florida presidential voter case. It worked on the bankruptcy cases of Enron and WorldCom, and snapped up operations of the Big Four accounting firms when they were forced to sell in the aftermath of those scandals.Gunby is now working to instill “a culture of organic growth” while pushing the company into adjacent services, according to Sommer. He has hired more employees, increasing so-called billable headcount during his tenure by 34% to 4,334 as of September.One of those hires was the former FBI official Anthony J. Ferrante, whose report on the Bezos case was published by Vice last month.FTI’s analysis traced the hack on the Amazon.com founder’s phone to a WhatsApp message allegedly sent from the account of Saudi Arabia’s crown prince, Mohammed bin Salman. The Saudi Embassy has denied involvement in the hack, calling the claims “absurd.”Landing high-profile clients like Bezos for the firm’s relatively new cybersecurity unit could lead to even more business, Sommer said.(Updates share performance starting in headline)To contact the reporter on this story: Vivek Shankar in Washington at email@example.comTo contact the editors responsible for this story: Kasia Klimasinska at firstname.lastname@example.org, Larry Reibstein, Richard RichtmyerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The annual event features the newest models from more than 28 manufacturers, including Honda Motor Co. and General Motors Co.
Cybertruck orders have apparently cruised past half-a-million, according to multiple media reports that reference a Cybertruck enthusiast online forum.
China’s extraordinary economic growth over the past four decades transformed the country into the world’s second-biggest economy. The key to this growth is global trade. China is not only the largest trading partner in the world, but it is also central to a myriad of supply chains.
General Motors will begin laying off around 1,500 employees in Thailand in June, after announcing the sale of its production plants in the country, a government official said on Wednesday. GM said on Monday it would sell its two plants in the eastern industrial province of Rayong to China's Great Wall Motor. Jak Punchoopet, adviser to the Minister of Labour, told Reuters all of the Rayong plants' employees would be laid off under the terms of GM's sale agreement with Great Wall.
General Motors will begin laying off around 1,500 employees in Thailand in June, after announcing the sale of its production plants in the country, a government official said on Wednesday. GM said on Monday it would sell its two plants in the eastern industrial province of Rayong to China's Great Wall Motor . Jak Punchoopet, adviser to the Minister of Labour, told Reuters all of the Rayong plants' employees would be laid off under the terms of GM's sale agreement with Great Wall.
General Motors' (GM) announcement to officially kill the Holden brand in Australia left some questioning whether GM still planned to make a right-hand-drive (RHD) Corvette, for Oz or otherwise. Although the company's plan for the Aussie market is still under consideration, Chevrolet confirmed to Autoblog that a RHD Corvette will still be produced for other global markets.
"I've often said that we will do the right thing, even when it's hard, and this is one of those times," GM Chairman and CEO Mary Barra said in a statement. GM has been winding down in international markets where it has struggled to turn profits since at least 2015. According to the automaker, while many emotions may be attached to the iconic brand, the economics doesn’t support its presence in right-hand-drive markets, most of the Commonwealth countries, like Australia and New Zealand.
Please refer to the Moody's Investors Service Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.br. All Moody's ratings are reviewed at least once during every 12-month period.
The Tennessee Department of Treasury made some big changes in its stock investments in the last quarter of 2019. The department, which manages all of the state’s investments, including its pension fund, reduced investments in (GE) (ticker: GE), General Motors (GM) and (VZ) Communications stock (VZ) in the fourth quarter. Tennessee’s treasury also bought more (WMT) stock (WMT).
Morrison added that Australian taxpayers put billions into this multinational company. "They let the brand just wither away on their watch," he told reporters in Melbourne. Like Britain, Australia and New Zealand are right-hand drive markets. With sales of GM's Australian Holden brand plummeting, the company could not justify the investment to continue building right-hand drive vehicles. "Tax payers were giving a multi-national extra money, year after year, and at the end of the day they walked away. And I think that says everything you need to know about the success of those sorts of policies," said Morrison.
US car giant General Motors is scaling back its operations from unprofitable markets, outside of the United States and the latest car brand to be axed is Australia's Holden brand. GM International Senior Vice President, Julian Blissett made the announcement on Monday. (SOUNDBITE) (English) GM INTERNATIONAL OPERATIONS SENIOR VICE PRESIDENT, JULIAN BLISSETT, SAYING: "And I can confirm to you that GM has taken the very difficult decision to wind down Holden operations in Australia and New Zealand by 2021. This was an agonising decision for us and one that we didn't make lightly or easily. The wind down will take place through this year and will impact all functions with the exception of aftersales." The first Holden car rolled off the production line in 1948 and in its heyday the company employed thousands. But it ceased production three years ago and cut jobs to around 600. For many the news was an emotional moment and Australia's industry minister Karen Andrews captured the mood with her own story: (SOUNDBITE) (English) MINISTER FOR INDUSTRY, SCIENCE AND TECHNOLOGY, KAREN ANDREWS, SAYING: "My first car was a Holden Torana that I bought from from grandfather, so like many Australians Holden has a place in my personal history and Holden is a manufacturer, it is a vehicle that is near and dear to many Australian hearts. So it's disappointing that this is the end of an era." GM also announced that China's Great Wall Motors will buy its Thailand car manufacturing plant. GM says the restructuring of its global business will produce profit margins and represent a "$2 billion" improvement from two years ago. Back in Australia -the news was hard for the government to swallow. (SOUNDBITE) (English) MINISTER FOR INDUSTRY, SCIENCE AND TECHNOLOGY, KAREN ANDREWS, SAYING: "It was only a couple of hours ago that the government was advised that Holden was walking away from Australia and Australians. This is a very disappointing outcome, it's disappointing because there will be several hundred workers that are about to lose their jobs because of this decision." GM said they would continue to support existing Holden customers with spare parts, servicing for at least the next 10 years.