Category Archives: financial results

Carvana Ups Size, Price of Common Offering. Results Unknown

The offering is subject to customary closing conditions. Wells Fargo Securities, Citigroup and Deutsche Bank Securities acted as book-running managers for the proposed offering. Continue reading

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Speedway Motorsports Ownership Scuffle Underway

Whether this is simply a legal ploy that allows the Smith family to take over the Speedway at a bargain price by demonstrating due diligence, or just exhaust noise designed to talk the stock up remains to be seen. Continue reading

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GM Soft Q1 Income of $2.1B as N.A., International Decline

The only core business bright spot is the sales of expensive pickup trucks, which GM claims will really jump-start earnings during the second half of the year, if – big if – markedly increased production from RAM and Ford, rising gas prices and a sluggish economy don’t alter the current celebratory mood. Continue reading

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GM Declares Quarterly Dividend of 38 Cents

The dividend is payable Friday, June 21, 2019, to all common shareholders of record at the close of business on Friday, June 7, 2019. Continue reading

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Ford Motor Q1 Results Improve Somewhat

Overall Ford continues to struggle finding a balance between global operations, product mix, manufacturing efficiency, shareholder returns and changing into an automobility company that can compete with old industry giants and emerging new ones such as Lyft, Google and Uber. Continue reading

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Ford Motor Company Declares Q2 Dividend of $0.15

Stockholders and Wall Street are skeptical of Ford investor relations “happy talk.” Shares of common are currently trading at $9.30, well below the five-year high of $17.40. Continue reading

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EU Antitrust Allegations to Hurt BMW Earnings – €1 Billion!

The BMW Group provision will likely exceed €1 billion. The EBIT margin in the BMW Automotive Segment for the current financial year is expected to be 1-1.5 percentage points below the previous target range of 6-8%. Continue reading

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Ford Shakes up European and International Markets as CFO Shanks Retires. Restructuring Continues as Stock Languishes

The more significant news, perhaps, is happening at Ford’s European money pit and its struggling International Markets Group. Peter Fleet, president of IMG, has announced his intention to retire. Fleet, 51, held leading in Ford marketing, sales and service, and business operations globally for nearly 30 years. Prior to the establishment of the International Markets Group, Fleet served as president of Asia Pacific, leading all of Ford’s operations and partnerships across the region. Previously, he was president of Ford ASEAN and vice president, Sales, Ford of Europe. Continue reading

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Record Electric Car Sales in California. Taxpayers on the Hook

Electric and plug-in hybrid electric cars are now 7.8% of all new car sales in California, and some areas such as Sacramento and San Luis Obispo counties, nearly doubled their EV rebates this past year. Known as the Clean Vehicle Rebate Project (CVRP), its potential impact on funding is now a matter of discussion among officials. Continue reading

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BMW Manufacturing Largest US Auto Exporter Again

The news comes as the disastrous results of President Trumps’ trade tampering were published. (Trump Record Deficit Watch – Another Proposed Increase) The U.S.’s trade deficit in goods with the rest of the world rose to its highest level in history in 2018 as the United States imported a record number of products, including from China. This increased the deficit to $891.3 billion as Trump caree Continue reading

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Ford Exits Heavy Truck Business in South America

Most of these pre-tax special item charges and cash outflows of 4460 million will be recorded in 2019 and are part of the $11 billion in EBIT charges with cash-related effects of $7 billion the company expects to take in the redesign of its global business. Continue reading

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Japanese-brand Automakers Generate 1.52 Million Jobs in US

It doesn’t estimate how many are lost to oversees manufacturing and imports. Thus, go the one-sided volleys in the ongoing automotive trade wars. Continue reading

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Doomsday? No-Deal Brexit Impact on UK Light Vehicle Market

If the UK leaves the EU without a deal, then the LMC assumption would be that vehicles exported to the EU from the UK would be subject to a tariff of 10% as the UK would, by then, have become a ‘third country’ under EU trade rules. Continue reading

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GM Declares Q1 2019 Dividend of 38 Cents

GM is counting on the longer, wider and taller Silverado HD to bolster profits. It has a new 6.6-liter V8 gas engine with direct injection with a six-speed automatic transmission. Continue reading

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Ghosn to be Gone at Next Nissan Shareholders Meeting

Renault-Nissan-Mitsubishi is today the world’s largest automotive partnership, with combined sales of more than 10.6 million vehicles. Continue reading

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