GM - General Motors Company
| Previous close | 35.29 |
| Open | 34.99 |
| Bid | 34.55 x 2900 |
| Ask | 34.76 x 4000 |
| Day's range | 34.41 - 35.08 |
| 52-week range | 32.97 - 41.90 |
| Volume | 8,432,370 |
| Avg. volume | 9,604,980 |
| Market cap | 49.515B |
| Beta (5Y monthly) | 1.34 |
| PE ratio (TTM) | 7.58 |
| EPS (TTM) | 4.57 |
| Earnings date | 05 May 2020 |
| Forward dividend & yield | 1.52 (4.31%) |
| Ex-dividend date | 04 Mar 2020 |
| 1y target est | 47.12 |
- Financial Times
More ‘fallen angels’ could cause big ripples in bond market
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.
- Zacks
Everi, Franklin Electric, Tesla, General Motors and Fiat Chrysler highlighted as Zacks Bull and Bear of the Day
Everi, Franklin Electric, Tesla, General Motors and Fiat Chrysler highlighted as Zacks Bull and Bear of the Day
- Yahoo Finance
Tesla shares, fueled by Fed, surge on bullish analyst calls
Tesla investors should probably thank the Federal Reserve for their big gains in 2020.
- Associated Press
GM gets tax break for new plant next to factory it closed
General Motors Co. will receive a tax break to build a new electric battery cell factory in Ohio next to the site of a much larger assembly plant it shut down last year. Village leaders in Lordstown approved a 75% tax abatement that will extend over 15 years and allow the company to move forward with the plant. “What we had to get done and needed to get done for General Motors, we did," Mayor Arno Hill said after the vote Tuesday.
- Reuters
General Motors to lay off all 1,500 plant workers in Thailand following sale
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.
- Zacks
CARZ ETF Gains on Tesla's Rally Despite Mixed Auto Earnings
Tesla's relentless rally is providing support to the automobile ETF amid mixed earnings results.
- Zacks
American Axle's (AXL) Q4 Earnings Trump Estimates, Down Y/Y
American Axle (AXL) projects full-year 2020 sales and adjusted EBITDA of $5.8-$6 billion and $930-$960 million, respectively.
- Reuters
Holden brand retirement stuns Australian motor sport
The future of Australia's Supercars series is under a cloud following the decision by U.S. auto maker General Motors to scrap the iconic Holden brand that has underpinned the touring car championship for decades. General Motors Co said on Monday it would retire the Holden brand by 2021 as it winds down Australian and New Zealand operations in the latest restructuring of its global business. The move has rocked the V8 Supercars series in which eight of the 13 teams race Holden's Commodore model cars.
- ABN Newswire
Holden Vehicle Sales, Design and Engineering to Cease in Australia and New Zealand
Melbourne, Australia, Feb 17, 2020 - (ABN Newswire) - The Holden brand will be retired from sales in Australia and New Zealand and local design and engineering operations will wind down by 2021, General Motors (NYSE:GM - News) announced today. Maven and Holden Financial Services operations will also wind down in Australia. GM International Operations Senior Vice President Julian Blissett said GM had taken the difficult decision after implementing and considering numerous options to maintain and turn around Holden operations.
- Financial Times
GM to exit Australia and New Zealand as part of global overhaul
The US carmaker said China’s Great Wall Motors had agreed to buy its Thai manufacturing plant, and it would withdraw its Chevrolet brand from Thailand by year-end. “We are restructuring our international operations, focusing on markets where we have the right strategies to drive robust returns and prioritising global investments that will drive growth in the future of mobility, especially in the areas of electric vehicles and autonomous vehicles,” said Mary Barra, GM chief executive and chairman. The moves would incur cash and non-cash charges of $1.1bn, GM said.
- Associated Press
GM plans to pull out of Australia, New Zealand and Thailand
General Motors decision to pull out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments raised dismay Monday from officials concerned over job losses. The company said in a statement Sunday that it plans to wind down sales, engineering and design operations for its historic Holden brand in Australia and New Zealand in 2021. It also plans to sell its Rayong factory in Thailand to China's Great Wall Motors and withdraw the Chevrolet brand from Thailand by the end of this year.
- Reuters
General Motors to wind down Australia, New Zealand operations, sell Thai plant to Great Wall
NEW YORK/BEIJING (Reuters) - General Motors Co is retreating from more markets outside of the United States and China, saying on Sunday that it will wind down sales, design and engineering operations in Australia and New Zealand and retire the Holden brand by 2021. It also said China's Great Wall Motor Co Ltd had agreed to buy GM's Thailand car manufacturing plant and an engine factory, a transaction expected to be completed by the end of 2020. In rearranging its global operations, GM is accelerating its retreat from unprofitable markets, becoming more dependent on the United States, China, Latin America and South Korea.
- CNW Group
GM Accelerates Transformation of International Markets
General Motors (GM) is taking decisive action to transform its international operations, building on the comprehensive strategy it laid out in 2015 to strengthen its core business, drive significant cost efficiencies and take action in markets that cannot earn an adequate return for its shareholders. GM announced today that it would wind down sales, design and engineering operations in Australia and New Zealand and retire the Holden brand by 2021.
- Yahoo Finance
A reminder that Tesla follows its own rules: Morning Brief
Top news and what to watch in the markets on Friday, February 14, 2020.
- Yahoo Finance
Tesla investors make a surprising move as its stock closed in on $1,000
Tesla investors unload.
- Associated Press
Trump budget targets loan program that could help Lordstown
The Trump administration’s budget proposal scraps a loan program that could help an upstart electric vehicle company’s plans to reuse the now-closed General Motors factory in Lordstown, Ohio. In a summary of the budget for the coming fiscal year, the administration said Monday it wants to eliminate the Advanced Technology Vehicle Manufacturing Loan Program, which was created in 2007 to foster development of fuel-efficient vehicles. Lordstown Motors Corp., a new venture that’s trying to reopen the former Lordstown GM factory east of Cleveland to build electric trucks, is considering asking for a $200 million from the loan fund.
- Zacks
Stock Market News for Feb 10, 2020
Concerns about widespread impact of coronavirus on Chinese and global economy overshadowed stronger-than-expected U.S. jobs report, dragging benchmarks into negative territory on Friday.
- Zacks
The Zacks Analyst Blog Highlights: General Motors, Ford, Fiat Chrysler and Tesla
The Zacks Analyst Blog Highlights: General Motors, Ford, Fiat Chrysler and Tesla
- Reuters
GM to restart production in China from Feb. 15
General Motors said on Monday it would restart production in from Feb. 15 in China, where the country is dealing with a coronavirus epidemic which has killed more than 900 people. Automakers in China had halted production for the Lunar New Year holidays at the end of January. The U.S. automaker would have a staggered start to production across plants with local partners over the next two weeks, a company spokeswoman told Reuters.
- Reuters
GM to restart production in China from February 15
General Motors said on Monday it would restart production in from Feb. 15 in China, where the country is dealing with a coronavirus epidemic which has killed more than 900 people. Automakers in China had halted production for the Lunar New Year holidays at the end of January. The U.S. automaker would have a staggered start to production across plants with local partners over the next two weeks, a company spokeswoman told Reuters.
Reuters VideosAustralian PM 'angry' at General Motors decision
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.
Reuters VideosGM to retire iconic Australian Holden brand
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.
