Mary Barra, chair and chief executive officer of General Motors Co., during a news conference at the Hudson’s building in Detroit, Michigan, US, on Monday, April 15, 2024. Jeff Kowalsky | Bloomberg | Getty Images DEROIT – General Motors CEO Mary Barra has been aggressive in exiting unprofitable or underperforming markets over the past decade, … Read more
Tesla Supercharger stations near a Circle K gas station in Austin, Texas, on April 23, 2024. Brandon Bell | Getty Images Tesla shares fell nearly 6% on Tuesday following news that CEO Elon Musk was pressing ahead with more job cuts at Tesla, impacting an estimated 500 employees in its Supercharger team. The stock closed … Read more
Earnings season is giving analysts plenty to chew on as they learn more about the impact of macro challenges on companies. Though Wall Street is watching short-term stock moves spurred by quarterly results, the top analysts have their eyes on companies’ long-term prospects. Bearing that in mind, here are three stocks favored by the Street’s … Read more
Ford Motor on Wednesday evening delivered higher than expected profits in the first quarter, driven by strength in its commercial business. Positive updates to its full-year outlook helped send shares rallying by roughly 2.5% in after-hours trading. Automotive revenue increased 2% year over year, to $38.89 billion, missing analysts’ forecasts of $40.1 billion, according to … Read more
The Ford display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT — Ford Motor is announcing first-quarter earnings after the markets close Wednesday. Here is what Wall Street expects, based on average analyst estimates compiled by LSEG: Earnings per share: 42 cents adjusted Automotive revenue: $40.10 billion … Read more
Good morning! It’s Monday, April 22, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. The Hype Behind Tesla Stock Success In 2023 1st Gear: Chaos At Tesla 2024 has not been kind … Read more
The GM logo is seen on the facade of the General Motors headquarters in Detroit on March 16, 2021. Rebecca Cook | Reuters DETROIT — General Motors is set to report its first-quarter earnings before the bell Tuesday. Wall Street expects General Motors to report solid, if not “resilient,” results for the first quarter of … Read more
Volkswagens are seen in the employee parking lot at the Volkswagen automobile assembly plant on March 20, 2024 in Chattanooga, Tennessee. Elijah Nouvelage | Getty Images DETROIT – The United Auto Workers notched a big win this weekend. Volkswagen workers in Chattanooga, Tennessee, overwhelmingly voted in favor of joining the UAW – marking the Detroit … Read more
CNBC Investing Club with Jim Cramer Rob Kim | NBCUniversal CNBC’s Jim Cramer on Friday noted that major quarterly results from players like Verizon, Meta, Microsoft and Alphabet will be coming next week, but he zeroed in on the importance of the Personal Consumption Expenditures index because it is the real gauge of inflation. Cramer said the … Read more
As the electric vehicle industry faces a string of high-profile failures, several startups that have surfaced in recent years have underestimated their capital needs by billions of dollars, industry insiders said. Many of the companies that have tried to bring products to market or go public, especially through Special Purpose Acquisition Companies, or SPACs, are … Read more
