|Bid||0.00 x 2200|
|Ask||0.00 x 800|
|Day's Range||35.87 - 36.82|
|52 Week Range||30.56 - 41.90|
|Beta (3Y Monthly)||1.25|
|PE Ratio (TTM)||5.76|
|Earnings Date||Oct 29, 2019|
|Forward Dividend & Yield||1.52 (4.15%)|
|1y Target Est||47.44|
According to a new survey from OCC Consultants, the car ownership landscape is changing. Yahoo Finance’s Jen Rogers and Myles Udland discuss with OCC Consultants Partner Nicholas Fahri.
Despite putting a tentative agreement to a ratification vote, United Auto Workers will to continue a strike against General Motors. Here are a few highlights of the tentative agreement.
Striking General Motors workers will stay on the picket lines for several more days until they vote on a tentative contract agreement with the company.
General Motors is focusing on profitable SUVs now and self-driving cars for the future. But a new GM strike adds to challenges. Is GM stock a buy now? Take a look under the hood.
The impact of a United Auto Workers' strike at Mack Trucks will nearly double next week when Volvo Trucks North America lays off about 3,000 employees because of a lack of engines and transmissions that come from a Maryland plant the companies share. A Volvo Group spokesman on Thursday confirmed the ripple effect of the 4-day-old strike on its New River Plant in Dublin, Virginia. "We communicated to our employees this morning that NRV will stop production Monday because of the effects of the strike at our Hagerstown powertrain operations," spokesman John Mies told FreightWaves.
The United Auto Workers union on Thursday reached a tentative agreement for a new contract covering 850 Aramark employees who work at General Motors plants in Ohio and Michigan in maintenance, two sources briefed on the matter said. The UAW's national council has been delaying for hours on Thursday a vote on a separate tentative agreement reached Wednesday with GM covering 48,000 hourly workers as talks continued with Aramark. The UAW did not want members to be forced to cross Aramark picket lines to return to work, sources said.
The proposed General Motors labor contract deal includes key concessions on pay and jobs, but will let GM close three plants. GM stock fell.
The United Auto Workers union wrung higher pay and other benefits from General Motors Co as part of a tentative deal to end a month-long U.S. strike by about 48,000 workers, the union disclosed on Thursday. UAW officials and striking workers on the picket lines had said their focus in the dispute with GM was on jobs, pay equity and fairness for workers who made concessions in 2009 to help GM through its government-led bankruptcy. GM announced the No. 1 U.S. automaker's biggest restructuring since its 2009 bankruptcy, putting five North American plants on notice for potential closure and saying it would cut nearly 15,000 jobs.
The tentative deal struck between General Motors Co. and United Auto Workers doesn't look "too onerous" for the car maker, analyst Joseph Spak at RBC Capital said in a note late Thursday as more details about the contract emerged. "We continue to believe that if this is ratified, it is a solid outcome for GM," Spak said. Shares of GM were approaching the end of the trading session about 1% lower. The tentative deal offers temp workers a shortened path to permanent status, calls for no additional health care costs, and provides ratification bonuses, and wage increases, among other items. GM shares have gained nearly 9% this year, underperforming the S&P 500 index , which has risen 20%.
Expect a generally uninspiring third quarter from the "Big 3" automakers on continued international uncertainty that’s weighing on sales, one-time product cycle issues and a strike, Bank of America said ahead of earnings reports from the three major U.S. manufacturers. Ford Motor Company (NYSE: F) was “treading water” in the third quarter, while the report from Fiat Chrysler Automobiles NV (NYSE: FCAU) will be “likely uninspiring,” the firm said.
Signs of hope for a Brexit deal and U.S.-China trade war updates. Some disappointing U.S. manufacturing and retail data. Q3 earnings results from the likes of Netflix. And why Google parent Alphabet is a Zack Ranks 1 (Strong Buy) stock. - Free Lunch
This Week's DHL Supply Chain/FreightWaves Pricing Power Index: 25 (Shippers) Last Week's DHL Supply Chain/FreightWaves Pricing Power Index: 30 (Shippers) Three-Month DHL Supply Chain/FreightWaves Pricing ...
Shares of General Motors Co. fell nearly 1% in late trading Thursday after the United Auto Workers released details of its new tentative contract with GM. The contract, which still needs to be voted by members, gives full-time temp workers a shortened path to permanent status, among other gains for full-time and part-time temp workers, calls for no additional health care costs, and provides ratification bonuses. The contract also calls for wage increases and lump-sum payments in certain years and for the end of a cap on profit sharing. GM would also keep open its Detroit Hamtramck plant, one of four plants it had slated to close. GM and the union announced a tentative agreement on Wednesday. The strike has affected more than 30 GM plants in the U.S. and the deal covers more than 46,000 UAW-represented workers. Shares of GM have gained nearly 9% this year, underperforming the S&P 500 index , which has risen 20%.
The GM strike hurt US manufacturing for September while earlier this month, Boeing’s orders fell. Now Trump's 2020 campaign could take a hit.
DETROIT/WASHINGTON, Oct 17 (Reuters) - The United Auto Workers union said on Thursday workers at General Motors Co will stay off the job while they vote on a proposed contract that delivers higher pay for full-time workers and better terms for temporary workers, but allows the automaker to close three U.S. plants. Union leaders are giving the 48,000 striking workers until Oct. 25 to vote on the contract terms, but have recommended ratification of the deal. The decision to keep the strike going for another week reflects the pressure on top UAW leaders amid a continuing federal corruption probe of the union.
The United Auto Workers union wrung higher pay and better coverage for temporary workers from General Motors Co as part of its tentative deal to end a month-long U.S. strike, but the deal would also allow the automaker to move forward with closing three plants, the union said on Thursday. The highlights of the agreement were released by the UAW after the union's national council, representing GM plants across the United States, reviewed the terms of the four-year deal. The strike began on Sept. 16, with UAW negotiators seeking higher pay for workers, greater job security, a bigger share of profit and protection of healthcare benefits.
DETROIT/WASHINGTON (Reuters) - The United Auto Workers union said on Thursday workers at General Motors Co will stay off the job while they vote on a proposed contract that delivers higher pay for full-time workers and better terms for temporary workers, but allows the automaker to close three U.S. plants. Union leaders are giving the 48,000 striking workers until Oct. 25 to vote on the contract terms, but have recommended ratification of the deal. The decision to keep the strike going for another week reflects the pressure on top UAW leaders amid a continuing federal corruption probe of the union.
While Ford's (F) sales in China fall 30.3% year over year in Q3, Tesla takes the U.K. market by storm with record deliveries of 6,244 vehicles.
(Bloomberg Opinion) -- Honeywell International Inc.’s aerospace halo is worth its weight in jet fuel.The $120 billion conglomerate reported its third-quarter results on Thursday, and while there was evidence of the slowdown gripping the rest of the manufacturing industry, there was also proof that everything that’s made Honeywell an industrial darling of Wall Street this past year still holds true. On the one hand, Honeywell cut its 2019 sales outlook. Revenue at its safety and productivity unit slumped 8% in the third quarter, excluding the impact of currency swings and M&A, as inventory piled up and projects got pushed out. Offsetting that bleak result was Honeywell’s aerospace division, which delivered robust 10% organic revenue growth. And Honeywell raised its 2019 earnings forecast.So in the end, what could have been an ugly earnings day for Honeywell ended up eliciting a polite clap. As trading began in New York, the stock was up about 1%.For Honeywell and other industrial companies, aerospace has been a rare bright spot at a time when many other sectors, particularly automotive, electronics and increasingly construction-related businesses, are slowing down. The decline appears to be accelerating: railroad Union Pacific Corp. on Thursday reported an 8% slump in carload volumes in the third quarter while construction-rental equipment company United Rentals Inc. trimmed its revenue guidance late Wednesday. Meanwhile, a report from the Federal Reserve on Thursday showed that U.S. factory output declined in September by the most in five months as a strike at General Motors Co., the trade war and generally sluggish demand weighed on production.The sustainability of the years-long aerospace boom has come into question as a wobbling Chinese economy and the prolonged trade war risk damping demand for travel. Global passenger traffic grew 3.8% in August, well off the pace of the past few years, according to the International Air Transport Association. But that’s still growth, at least for now. Parts makers like Honeywell are also seeing more demand for services on older aircraft while the Boeing Co. 737 Max remains grounded.In its earnings presentation, Honeywell said it expects further growth in commercial flight hours and the rollout of new jet programs to continue to boost sales at the aerospace division in 2020. Margins may get squeezed, because the business will tilt more heavily toward the less profitable work of installing new equipment versus maintaining older versions.The generally upbeat aerospace narrative contrasts with downbeat performances elsewhere at the company. The sales decline at the safety and productivity unit was the worst for the business since 2016, when the manufacturing sector was emerging from a mini-recession sparked by the plunge in oil prices. Margins in the safety and productivity business fell 320 basis points to 13.4%. Honeywell still recorded healthy growth in its chemicals and materials unit and building-technologies division, but the pace slackened from the second quarter. Honeywell now expects total company organic sales to grow at best 5% this year, down from an earlier projection of as much as 6%.Amid what it deemed an “uncertain macro environment,” Honeywell reiterated its ability to protect its earnings through a downturn by continuing to cut costs and using its ample balance sheet for M&A and share buybacks. CEO Darius Adamczyk has largely sat comfortably on the M&A sidelines the past few years, holding out for lower valuations that may now be coming. There had been some concern when he took over from former leader Dave Cote and talked passionately about accelerating Honeywell’s revenue growth that such an effort would come at the expense of the company’s almost religious commitment to margin improvements. That concern was ill-founded. Honeywell boosted its margin guidance for the full year in part because of the benefits of previously funded restructuring, operating improvements and the spinoffs of the less profitable Garrett Motion Inc. turbocharger and Resideo Technologies Inc. consumer-facing home products businesses last year.Honeywell is making a good case for why it’s a decent place to hide in the event of a manufacturing slowdown, or perhaps broader recession. But the fact that it’s making this argument increasingly loudly should be a warning for the rest of the industrial sector.To contact the author of this story: Brooke Sutherland at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
The number of unemployed workers who applied for jobless benefits in the second week of October rose slightly, but layoffs nationwide remained near a 50-year low and showed no sign of rising despite a slowdown in the U.S. economy. Initial jobless claims increased by 4,000 to 214,000.