|Bid||19.25 x 1800|
|Ask||19.26 x 1200|
|Day's Range||18.55 - 19.51|
|52 Week Range||14.33 - 41.90|
|Beta (5Y Monthly)||1.51|
|PE Ratio (TTM)||4.21|
|Earnings Date||May 05, 2020|
|Forward Dividend & Yield||1.52 (8.43%)|
|Ex-Dividend Date||Mar 04, 2020|
|1y Target Est||37.50|
The U.S. auto industry took a hit in the first quarter due to COVID-19 that forced people to stay home for the most of March, denting business of one of the nation's largest industries.
Owing to weak consumer confidence and substantial increase in unemployment, car sales are likely to further decline in the coming months.
Harry Arnon learned about the potential danger of coronavirus from the source. Two months later, the virus is a global pandemic that has shuttered businesses and triggered social distancing guidelines that encourage people to stay home. Businesses in many industries have been hammered.
Companies like Apple, Inc. (AAPL), General Motors (GM), Ford Motor Company (F) and The Gap, Inc. (GPS) have taken to manufacturing face masks and ventilators keeping in mind the growing demand.
General Motors Co. (GM) and Honda Motor Co. (HMC) said they will jointly develop two new electric vehicles for Honda and are exploring more allies to expand their partnershipThe new electronic cars, which will use GM’s batteries will be manufactured at GM plants in North America. The exteriors and interiors of the cars will be designed by Honda. Honda expects to begin selling the cars in the U.S. and Canada in 2024."This expanded partnership will unlock economies of scale to accelerate our electrification roadmap and advance our industry-leading efforts to reduce greenhouse gas emissions," said Rick Schostek, executive vice president of American Honda Motor. “We are in discussions with one another regarding the possibility of further extending our partnership.”Wall Street analysts take a bullish stance on General Motors even as the company’s stock shaved off half of its value in the past three months. General Motors’ Strong Buy consensus rating is supported by 10 Buys and 1 Hold. The $38.40 average price target means investors could be coming out with a 113% gain in the next 12 months, should it be met. (See General Motors’ stock analysis on TipRanks). Under the terms of the joint agreement, Honda will incorporate GM's OnStar safety and security telematic services into the two electric vehicles. In addition, Honda will also use GM's hands-free advanced driver-assist technology for the new venture.The two car manufacturers have already collaborated on the Cruise Origin, an electric, self-driving and shared vehicle, launched in San Francisco earlier this year.Related News: CarMax Reports Record Q4 and FY20 Results, Shares Coronavirus Update RBC: 3 Outstanding Dividend Stocks Yielding at Least 9% Are Lockdowns Working? Google Offers Location Data to Help Pandemic Fight More recent articles from Smarter Analyst: * Amarin (AMRN) Will Make Excellent Takeover Target, Says Analyst * Gilead Sciences, Second Genome in Pact For Inflammatory Disease Drug Finds * Goldman Sachs: 3 Beverage Stocks to Stock Up on Now * JPMorgan Picks 2 Stocks to Buy (and 1 to Sell)
Major League Baseball opening day 2020 has come and gone and it doesn't look like players will be hitting the diamond any time soon due to the coronavirus (COVID-19) outbreak. However, players are still getting paid under the terms of a new deal between MLB and the players association. Without any games to play, some players may attempt to follow in the footsteps of one of baseball's greatest legends and put that money to work in the stock market.Despite his notoriously controversial personality, Detroit Tiger legend Ty Cobb holds the highest career batting average of any player in MLB history at .366. In 24 seasons (22 with the Tigers) Cobb amassed 4,189 hits, scored 2,245 runs and stole 897 bases. Cobb won 11 batting titles, one MVP award and was one of only five players that were inaugural members of the Baseball Hall Of Fame in 1936.When he retired in 1928, Cobb had earned an estimated $491,233 from baseball, a sum that would be worth $7.44 million in today's dollars. By the time Cobb died in 1961, however, he held an investing portfolio worth $12.1 million, roughly $104.8 million in today's dollars.See Also: With Live Sports On Hold, ESPN And Fox Load Up On Pro WrestlingCobb's Early Investments Cobb started his education in investing by hanging around the Detroit stock market on days the Tigers weren't playing. One of his earliest investments was a $1,000 bet on cotton futures, which ultimately earned him a $7,500 profit two years later when World War I demand drove up cotton prices. Cobb made a similar $15,000 profit on shares of a copper mine that skyrocketed as World War I ramped up metal demand.Cobb's most notorious investment was a purchase of 300 shares of Coca-Cola Co (NYSE: KO) in 1907. Over the next 20 years, Cobb would grow his Coca-Cola investment to 24,000 shares and purchase three Coca-Cola bottling plants.Around the same time, Cobb purchased $25,000 of United Motors stock, which was converted to General Motors Company (NYSE: GM) stock after the company was acquired by GM.At the time of his death, Cobb owned $10 million of GM stock and $2 million of Coca-Cola stock. In today's dollars, his portfolio was paying out more than $3.9 million per quarter in dividends alone.See Also: How Shaquille O'Neal Negotiates, Picks His PortfolioToday's Athlete Investors Plenty of modern athletes are following Cobb's lead and investing heavily in the future. Former NBA great Shaquille O'Neal invested in Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) subsidiary Google and ride hailing company Lyft Inc (NASDAQ: LYFT) prior to their respective IPOs.Current NBA star Carmelo Anthony was also an early Lyft investor via his M7 Tech Partners venture capital firm.Former Dallas Cowboys quarterback Troy Aikman cashed out of a pre-IPO investment in Wingstop Inc (NASDAQ: WING) in 2015 on the first day the stock went public.Baseball great Alex Rodriguez founded investing firm A-Rod Corp. in 2003, which has stakes in home rental company Sonder and micro-investing app Acorns.Benzinga's Take Cobb wasn't known for his power at the plate, but GM and Coca-Cola were clearly two home runs on Wall Street. It remains to be seen which among this generation of athlete investors will ultimately end up the most savvy investor of his or her era.Do you agree with this take? Email firstname.lastname@example.org with your thoughts.See more from Benzinga * How Cannabis MSOs Are Winning Over Customers In Evolving US Markets * Q4 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their Portfolios * What Tesla Investors Can Learn From Where GM Was 100 Years Ago(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
General Motors Co (GM) will seek to extend maturities on US$6bn in revolving loans rather than refinance a US$16.5bn credit facility following discussions with its bank group during an unprecedented health crisis in the US. The company originally went out to its JP Morgan and Citigroup-led bank group in early March requesting to push maturities on the US$16.5bn in revolving credit facilities as part of its regular-way liability management operations. The transaction was meant to roll over maturities, but leave pricing unchanged, several sources familiar with the discussions said.
The coronavirus continues to sweep across the world. It's hitting Europe and the U.S. hard after the outbreak began in China. Despite the hellish reality of Covid-19, we're seeing individual companies step up, like Gilead Sciences (NASDAQ:GILD). As a result, GILD stock is up 16.3% year-to-date and 9% over the past month.Some investors may look at that and say, "so what?"But compare that to the SPDR S&P 500 ETF (NYSEARCA:SPY), which is down 22% and 15.3% in the same time frame and you can understand why Gilead has stood out. It's also why it has the potential to shine even brighter in the coming weeks and months.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Gilead vs. Covid-19The virus is bringing out the best in many American companies. Ford (NYSE:F), General Motors (NYSE:GM) and Tesla (NASDAQ:TSLA) are producing ventilators. Gap (NYSE:GPS), Ralph Lauren (NYSE:RL) and others are producing scrubs, gowns and other supplies. Breweries are making hand sanitizer. We're stepping up. And so is biotech. * 10 Stocks to Buy Whose Companies We Can't Live Without Gilead is working on a Covid-19 treatment with a drug called remdesivir. On March 23, the FDA granted remdesivir "orphan status." That designation would, among other things, give it exclusivity rights. However, just a few days later Gilead filed with the FDA to remove that status. Click to Enlarge Source: Chart courtesy of Statista, Source from WHO The company said it could maintain an "expedited timeline" without the status, and that the designation is meant to apply for infections impacting less than 200,000 Americans. With more than 215,000 confirmed coronavirus cases in the U.S. and growing rapidly, it's clear the number will be far higher.Gilead CEO Daniel O'Day recently said that remdesivir is "a medicine we had been studying for many years as part of our extensive research in antivirals … Multiple studies are ongoing, and we are on track to have initial data in the coming weeks."On April 1, the company initiated two Phase 3 trials for remdesivir for use in patients with moderate to severe Covid-19.This is all moving along very quickly. If Gilead sees promising results, not only is that huge for Gilead but it's huge for the world. We need some sort of positive catalyst here. Not just for the stock market, but for humanity. People are growing tired of being on lockdown orders and anxiety is creeping higher for many out of work.If Gilead's remdesivir works, it could be a game changer. Sizing Up GILD Stock Click to Enlarge Source: Chart courtesy of StockCharts.comA glance at the chart above highlights what life has been like for long-term investors in Gilead. Simply put, the stock has been a painful one to own. Shares embarked on a brutal decline from a high north of $100 in 2015 to a low near $57.50 in 2017. It has since been trying to carve out a bottom.Shares moved slowly but constructively higher in 2019, leading to a breakout in 2020. Of course, that's on the back of the company's remdesivir hopes, putting Gilead in a somewhat binary situation.Binary situations are generally unattractive from an investment perspective, particularly when they center around a treatment being accepted or rejected. As it stands though, investors may be safe buying a pullback into the $65 to $70 area. As long as GILD stays above $65, its technicals are in good shape.On the upside, look for a rally back up to resistance between $77.50 to $80. A breakout over $80 puts the recent highs near $86 on the table.While Gilead shares has been hammered over the years, its fundamentals have deteriorated a bit over that time as well. But -- and this is a big but -- Gilead Sciences is not your typical fly-by-night binary biotech play. It's a low valuation, cash-rich healthcare titan.The company boasts $24.3 billion in cash -- $19.4 billion including its recent acquisition of Forty Seven (NASDAQ:FTSV). Trailing free cash flow is north of $8.3 billion, with revenue and net income of $22.4 billion and $5.4 billion, respectively. Gilead may not be in its prime, but it's a very profitable machine.Investors could do worse than pay 11.3 times this year's earnings for a company like Gilead, with the upside kicker being remdesivir.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and +1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. Matt does not directly own the aforementioned securities. More From InvestorPlace * 25 Stocks You Should Sell Immediately * 1 Under-the-Radar 5G Stock to Buy Now * This Stock Picker's Latest Video Just Went Viral * The 1 Stock All Retirees Must Own The post Gilead Sciencesa Coronavirus Treatment Has Big-Time Potential appeared first on InvestorPlace.
General Motors Co's vehicle sales in China fell 43.3% in the first three months of 2020 compared with the same period last year, the company said on Friday, as the coronavirus pandemic reduced demand in the world's biggest auto market. The pandemic has killed over 3,300 people in China, the world's second-biggest economy, and caused the government to lock down parts of the country to contain the spread. GM, China's second-biggest foreign automaker, delivered 461,716 vehicles in the first quarter, the company said.
General Motors Co's vehicle sales in China fell 43.3% in the first three months this year compared with the same period last year, as the coronavirus pandemic hit the world's biggest auto market. GM, China's second-biggest foreign automaker, delivered 461,716 vehicles in the country in the first quarter this year, the company said in a statement, after it reported a second straight decline in annual sales in 2019.
Two weeks ago, the Pentagon promised to make as many as 2,000 military ventilators available as the federal government strains to contend with the coronavirus pandemic. As of Wednesday, less than half had been allocated, despite a desperate need across the country.
General Motors Co on Thursday rolled out a series of safety measures for workers in Indiana who will make ventilators, outlining what could be a blueprint for opening U.S. auto plants in the coming weeks. More than 1,000 GM workers will make the ventilators at GM's Kokomo, Indiana, plant. The automaker aims to begin mass production by mid-April and to make 10,000 ventilators a month by summer.
General Motors Co. (NYSE: GM) is actively training employees at the company's Kokomo plant in the extensive screening, cleaning and other CDC-recommended procedures that will be in place when volume production of Ventec Life Systems' critical care ventilator begins in less than two weeks. Among the employees is UAW Local 292 member Debbie Hollis of Kokomo.
Honda's electric car range has been pretty paltry in the United States so far. Its only full electric is the short-range Honda Clarity EV, which is on its way out, and the adorable Honda E doesn't look like it's coming here anytime soon (no matter how much we want it to). In a joint press release, it announced with General Motors that it has two new EVs coming that will be based on GM's electric car technology.
The new vehicles will use GM batteries and be assembled in GM plants in North America, the companies said. Honda plans to begin selling the vehicles in the United States and Canada in 2024. "We are in discussions with one another regarding the possibility of further extending our partnership," Rick Schostek, executive vice president of American Honda said in a statement.