36.22 -0.09 (-0.25%)
After hours: 7:20PM EDT
|Bid||35.78 x 800|
|Ask||36.40 x 2200|
|Day's range||35.56 - 36.58|
|52-week range||30.56 - 41.90|
|Beta (3Y monthly)||1.25|
|PE ratio (TTM)||5.78|
|Earnings date||29 Oct 2019|
|Forward dividend & yield||1.52 (4.23%)|
|1y target est||47.42|
A former top official of the United Auto Workers union pleaded guilty on Tuesday to federal charges of financial misconduct while about 48,000 UAW members voted on whether to end a nearly five-week walkout at GM. Jeffrey Pietrzyk, a former co-director of the UAW-GM Center for Human Resources, pleaded guilty to a charge of wire fraud and a count of conspiracy to commit money laundering, according to court documents. Federal agents last month raided the homes of the union's current president, Gary Jones, and former president Dennis Williams.
If they can close our plant, they can close yours, too. About 2,000 employees who once worked at GM transmission plants near Baltimore and Detroit and a small-car assembly plant in Lordstown, Ohio, will repeat that message this week as 49,000 union members vote on the new four-year deal.
Ford (F) is scheduled to report its third-quarter results on Wednesday after the market close. The stock has increased 21.4% year-to-date.
On October 18, Reuters reported that General Motors (GM) was planning to build premium electric pickup trucks and SUVs starting in late 2021.
Owens & Minor, Acuity Brands, Tesla, Ford and General Motors highlighted as Zacks Bull and Bear of the Day
WASHINGTON/DETROIT (Reuters) - General Motors Co plans to build a new family of premium electric pickup trucks and sport-utility vehicles at its Detroit-Hamtramck plant beginning in late 2021, possibly reviving the imposing Hummer brand on some of them, several people familiar with the plans said. The so-called BT1 electric truck/SUV program is the centerpiece of a planned $3 billion (2.3 billion pounds) investment in the Detroit-Hamtramck plant to make electric trucks and vans, and part of a broader $7.7 billion investment in GM's U.S. plants over the next four years, according to a proposed labor deal between the automaker and the United Auto Workers union. The investment would move the automaker into a part of the EV market that is largely untested and where GM has a higher likelihood of turning a profit, analysts said.
A month-long strike at General Motors could cut U.S. job growth by as much as 75,000 in October, JPMorgan economist Daniel Silver said on Friday, an unwelcome development amid financial market fears of a recession. Silver said in a research note that the estimated hit to nonfarm payrolls would be the result of both direct and indirect effects of the strike by about 48,000 workers at the automaker. The estimate draws comparisons with the 1998 strike at GM, which JPMorgan estimated depressed payrolls in July of that year by about 150,000 jobs.
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.
A decade ago, high labor costs helped drag a bloated and debt-ridden General Motors into a government-funded bankruptcy. Now, a contract deal reached this week with the United Auto Workers union will raise the company's costs once again, at a time when the auto industry is facing the uncertainty of tariffs and trade wars, slowing global sales and rising capital expenses to develop autonomous and electric vehicles. Analysts say the four-year deal, if approved next week by 49,000 striking workers, will hit GM's bottom line, but not badly enough to send it back into financial trouble like 2009, when it ran out of cash and was cleansed of $54 billion in debt during a 40-day trip through bankruptcy protection.
The 49,000 General Motors workers who have been on the picket line since Sept. 16 will begin voting on a tentative four-year contract on Saturday. Factory-level officials from the United Auto Workers union voted to recommend the agreement to members at a daylong meeting in Detroit Thursday. On Wednesday, the company and the UAW reached a deal that would give workers a mix of pay raises, lump sum payments and an $11,000 signing bonus.
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
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.
Striking General Motors workers will stay on the picket lines for at least another week until they vote on a tentative contract with the company. Factory-level officials from the United Auto Workers union voted to recommend the agreement to members at a daylong meeting in Detroit Thursday. About 49,000 workers have been on strike for more than a month, paralyzing GM's U.S. factories and costing the company an estimated $2 billion.
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.
U.S. factory output slumped 0.5% in September, as a strike at General Motors caused a steep decline in auto production amid broader struggles for manufacturers. The Federal Reserve said Tuesday that manufacturing production has fallen 0.9% over the past 12 months, a reflection of the disruptions and uncertainties caused by the U.S.-China trade war. The figures showed some stability, however, as factory output increased during the recently ended third quarter after having declined for the first six months of the year.
Companies who appointed women into CEO and CFO positions are outperforming, a new study by S&P Global Market Intelligence shows.
US manufacturing recovered in the third quarter after a bruising start to the year in which President Donald Trump's trade wars put a major dent in factory output, the Federal Reserve reported Thursday. The Fed's industrial production index -- which measures energy generation, mining and oil production as well as manufacturing -- fell 0.4 percent in September, a worse result than economists expected.
Investing.com - The U.S. dollar remained tepid on Thursday, while sterling tried to hold onto earlier gains after reports that the U.K. and European Union had reached a Brexit deal.