|Bid||9.43 x 36900|
|Ask||9.44 x 34100|
|Day's Range||9.33 - 9.45|
|52 Week Range||7.41 - 10.56|
|Beta (3Y Monthly)||0.97|
|PE Ratio (TTM)||17.44|
|Earnings Date||Oct 23, 2019|
|Forward Dividend & Yield||0.60 (6.35%)|
|1y Target Est||10.73|
General Motors' (GM) troubles seem to be increasing. The UAW (United Automobile Workers) called for a strike, which would impact thousands of workers.
In the electric pickup truck market, legacy automakers Ford and GM are set to take on established electric vehicle maker Tesla and startups such as Rivian.
(Bloomberg) -- Michael Bennet, who didn’t make the cut for Thursday’s Democratic debate in Houston, is taking to the airwaves in Iowa with his first media buy of the campaign.The presidential candidate and Colorado senator reserved at least $32,891 in the Des Moines and Ceder Rapids markets, according to Advertising Analytics, which tracks political advertising. The ads are slated to air starting Tuesday.Bennet failed to meet either requirement set by the Democratic National Committee for making the debate stages. The 10 candidates who participated had at least 130,000 unique donors and reached 2% in four national polls. Bennet will need to reach those marks by Oct. 1 to make the cut for the next round, scheduled to begin Oct. 15 in Westerville, Ohio.Spending on ads can boost a candidate’s standing in the polls, but they’re expensive. Billionaire Tom Steyer, who qualified for the October debate after entering the race in July, has spent about $14.3 million on broadcast and cable spots. That’s four times the amount Bennet’s campaign has raised.Democrats Set Next Debate for Oct. 15 in Ohio (2:36 p.m.)The Democratic National Committee announced Friday that the fourth debate of presidential candidates will take place Oct. 15, possibly with a second night on Oct. 16, depending on how many candidates qualify.The forum at Otterbein University in Westerville, Ohio, will be co-hosted by the New York Times and CNN. Eleven candidates have already met the criteria: the 10 who participated in the third debate on Thursday, along with billionaire Tom Steyer, who only qualified recently.To qualify for the debate, candidates must receive at least 2% support in four approved polls conducted nationally or in Iowa, New Hampshire, South Carolina and Nevada. They must also raise money from a minimum of 130,000 unique donors, including 400 contributors in each of at least 20 states by Oct. 1.The October debate will be moderated by CNN’s Anderson Cooper and Erin Burnett and Marc Lacey from the Times. The format has not yet been announced. -- Ryan Teague BeckwithHarris Asks for Inquiry into Probe of Carmakers (11:44 a.m.)Senator Kamala Harris asked the Justice Department’s internal watchdog to investigate the legal underpinnings of an antitrust probe into four automakers that agreed to meet compromise tailpipe emissions targets offered by California regulators.In a letter to the department’s inspector general released Friday by her office, the California Democrat and presidential candidate said the antitrust inquiry “raises serious concerns about whether federal law enforcement is being used to coerce” the companies into abandoning efforts to produce lower-emitting vehicles. The probe also raises questions about whether the Justice Department is being used for political purposes, she wrote.At issue is a July agreement by Ford Motor Co., Honda Motor Co., BMW AG and Volkswagen AG to meet future vehicle greenhouse gas emissions targets offered by California regulators that are more stringent than under a rollback proposed by the Trump administration but easier than rules adopted by the Obama administration in effect today.Harris’ request comes after other congressional Democrats have vowed to scrutinize the probe, revealed last week. The House Judiciary committee on Monday said it planned to hold hearings and request documents from the White House and Justice Department related to the antitrust probe. -- Ryan BeeneCastro Denies Slap at Biden’s Memory Was Unfair (8:02 a.m.)Julian Castro said he has no regrets about questioning former Vice President Joe Biden’s memory during the 2020 Democratic presidential debate in Houston on Thursday -- a moment that drew boos from the crowd.“I wouldn’t do it differently,“ the former Housing and Urban Development secretary told CNN in an interview early Friday. “That was not a personal attack, this was about a disagreement over what the vice president said regarding health-care policy.“Castro, a former Obama administration colleague of Biden’s, argued during the debate that his health-care proposal was better than Biden’s because people who qualified would automatically be enrolled, rather than having to opt in to Biden’s Medicare plan.“They wouldn’t have a buy in,” Castro said during the debate.When Biden shot back, “They do not have to buy in,” Castro pounced. “Are you forgetting what you said two minutes ago?” he said. “You’re forgetting that?”Castro defended his comments in his CNN interview, saying it’s necessary to highlight the policy differences between Democratic presidential contenders. “The vice president has been around for a long time,“ he said. “When we’re up there, we’re up there to debate.“ -- Kathleen MillerCOMING UPElizabeth Warren will appear Saturday at the Massachusetts Democratic Convention in Springfield.Biden will speak Sunday at the 16th Street Baptist Church in Birmingham, Alabama, to commemorate the 56th anniversary of a bombing that killed four girls and injured 22 other people.On Monday, Biden, Bernie Sanders, Amy Klobuchar, Tulsi Gabbard, Pete Buttigieg and Bill DeBlasio will attend the Galivants Ferry Stump in South Carolina.Also on Monday, Warren will speak at a rally in New York City’s Washington Square Park.Many candidates will appear at the LGBTQ Presidential Forum in Cedar Rapids, Iowa, on Friday. Contenders who have confirmed they will attend are: Biden, Cory Booker, Buttigieg, Castro, Gabbard, Kamala Harris, Klobuchar, Joe Sestak, Warren and Marianne Williamson.\--With assistance from Kathleen Miller, Ryan Beene and Ryan Teague Beckwith.To contact the reporter on this story: Bill Allison in Washington DC at firstname.lastname@example.orgTo contact the editors responsible for this story: Wendy Benjaminson at email@example.com, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Tesla stock is having a terrible run this year. Based on yesterday’s closing prices, the stock is down 26.1%, while the S&P; 500 has risen 20.0%.
To fix brake problem, General Motors (GM) is working on a corrective action involving reprograming of the Electronic Brake Control Module with a new calibration.
While Ford (F) unveils lineup for EVs in Europe, General Motors (GM) collaborates with tech giant Alphabet to roll out in-vehicle technology.
Among the top automakers, GM received 74% “buy” ratings from analysts. Ford garnered 39% "buy" ratings from analysts, and Tesla received 32% "buy" ratings.
(Bloomberg) -- It only took a decade for traditional automakers to take electric cars seriously and offer more than a smattering of test-the-water models.Now comes the hard part: Getting consumers to buy them.At Frankfurt’s 2019 car show, Volkswagen AG Chief Executive Officer Herbert Diess laid it on thick, calling on governments to give up coal-fired power as he unveiled the electric ID.3 car-for-the-masses. At the Mercedes-Benz stand, where the Daimler AG brand was showing the prototype of an electric S-Class sibling, real beech trees framed massive screens displaying schools of digital fish.The message to environmentally conscious consumers: we’re with you. But a marketing blitz alone won’t wash away the deep uncertainties facing electric cars -- obstacles little changed since carmakers’ initial forays with models like the Nissan Leaf and BMW AG i3. Customers don’t like paying up for new technology they’re unsure about, and they’re worried they won’t reliably get to where they want to go.“The next big thing is not going to be about the cars, because they will come,” Carlos Tavares, president of the European Automobile Manufacturers Association and CEO of Groupe PSA, said Wednesday. “The next big thing is about affordable mobility. The next big thing is about how we make this work for the biggest number of people.”So far, electric cars have only proliferated in countries with significant sweeteners. Once they go, sales of battery models crater. Demand in China, the world’s biggest electric car market, fell 16% in August -- its second straight decline -- after the government scaled back subsidies. Carmakers can reduce prices, but then only cut into profitability that in most cases has been nonexistent.Consumers are similarly sensitive elsewhere. Demand in Denmark collapsed when the government phased out tax breaks in 2016.“We’ve been talking about EVs for years, but this year the real production cars showed up,” Max Warburton, an analyst at Sanford C. Bernstein, wrote in a note. “Should we be celebrating these cars, given the poor margins that most will have?”Across Europe, sales of new plug-in hybrids and fully-electric cars last year made up 2% of total registrations. That’s a tiny market to tussle over for the likes of VW’s ID.3, with a price point below 30,000 euros ($33,009), Tesla Inc.’s Model 3 and Mercedes’s gleaming lineup of plug-ins. Yet carmakers have little choice but to boost their offering to keep pace with regulation, or face fines.Consumer demand “can’t be mandated,” Daimler CEO Ola Kallenius said at the show. Mercedes-Benz is adding at least 10 purely battery-powered cars through 2022 at a cost of more than 10 billion euros, starting with last year’s EQC SUV, so the carmaker’s lineup can to meet stricter emission limits.A lot of factors are moving in the right direction. The ID.3’s price point and basic range of 330 kilometers (205 miles) sets the car apart from previous efforts that needed meticulous pre-planning for longer trips. At the top end, there’s now the $185,000 Porsche Taycan Turbo S, and a mid-range that’s rapidly filling out from SUVs like the Jaguar I-Pace and Audi e-tron.Patchy charging infrastructure is improving too. Ionity, a consortium of Daimler, VW, Ford Motor Co., BMW and now Hyundai Motor Co., is on track to finish building a network of 400 European fast-charging stations by next year to make long-distance travel easier.Lean YearsFor carmakers, this will mean some lean years -- at least to 2025 when battery prices are expected to come down -- during which lucrative conventional SUVs must subsidize poor returns from their electric cousins. VW will need “patience” until the ID.3 brings significant profit “joy,” Chairman Hans Dieter Poetsch said.To bridge the gap, the industry is lobbying hard for governments to step up incentives to get to the oft-cited tipping point where driving without a combustion engine becomes normal. In Germany, home to VW, Mercedes and BMW as well as world-leading suppliers like Continental AG, the government sits down next week to discuss broad climate measures. Carmakers are hoping for a bigger slice of subsidies than they got so far.The ACEA on Wednesday called on national governments to boost charging points in Europe to 2.8 million by 2030, a 20-fold increase from 2018.“We need strong support, because if we don’t do it,” simply offering electric cars won’t be enough for sales to take off, PSA’s Tavares said.\--With assistance from Richard Weiss.To contact the reporters on this story: Oliver Sachgau in Munich at firstname.lastname@example.org;Christoph Rauwald in Frankfurt at email@example.comTo contact the editors responsible for this story: Anthony Palazzo at firstname.lastname@example.org, Elisabeth BehrmannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Yesterday, electric truck maker Rivian revealed that it had landed an investment of $350 million from automotive services company Cox Automotive.
(Bloomberg) -- Ford Motor Co. says fear of high gas prices no longer motivates buyers to seek out low-emission vehicles, so it’s leveraging the reputations of its two most renowned models to spark interest in upcoming electric vehicles across its lineup.“People are now used to $4- or $5-a-gallon gasoline. They might gulp at $5 gas, but they wouldn’t have the same reaction today as was occurring 10 or 20 years ago,” said Bob Taenaka, senior technical leader of Ford’s electrified vehicles. It would take pump prices rising to double those record levels to change consumer behavior, he said.So Ford is hoping the sex appeal of an electric model invoking the performance of the Mustang muscle car and a battery-powered F-150 pickup will trickle down to other models, much as large-displacement engines once were the source of bragging rights. “These are two of the most iconic vehicles that we produce,” Taenaka told reporters following a speech at an electric vehicle forum in suburban Detroit.The strategy is to show EVs can be fast and tough and are not just science projects, Taenaka said. In July, the company released a video of an electric F-150 prototype pulling 1 million pounds of rail cars.Ford plans to start selling what it’s described as a “Mustang-inspired” electric crossover next year, to be followed shortly thereafter by a battery-powered version of its top-selling F-150.To contact the reporter on this story: Keith Naughton in Southfield, Michigan at email@example.comTo contact the editors responsible for this story: Craig Trudell at firstname.lastname@example.org, Chester DawsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Ford plans to launch eight electric vehicles in Europe this year. The automaker aims to get most of its European revenue from electric cars by 2022.
* China producer prices notch biggest drop in 3 years * Tech stocks weigh on S&P 500, Nasdaq * Ford falls as Moody's downgrades bonds to junk * Treasury yields hit four-week highs * Dow up 0.28%, S&P up 0.03%, Nasdaq off 0.04% (New throughout, updates prices, market activity and comments to market close) By Stephen Culp NEW YORK, Sept 10 (Reuters) - The S&P 500 ended little changed on Tuesday, with a rally in energy and industrial shares countering a drop in the technology and real estate sectors as investors favored value over growth. Industrials pulled the blue-chip Dow slightly higher and led the bellwether S&P 500's nominal advance, while the tech-heavy Nasdaq posted its third straight decline.
China, the world’s largest automotive market, has more bad news for automakers. The slump in China's auto sales refuses to die down.
Electric truck maker Rivian Automotive LLC said on Tuesday that it has received an equity investment of $350 million (283.24 million pounds) from Cox Automotive Inc, owner of the Autotrader online automobile market and Kelley Blue Book car valuation service. Rivian said the two companies will also explore opportunities for partnerships in digital retailing, service operations and logistics. Cox will also add a representative to Rivian's board of directors.
Although automakers’ stocks posted mixed performance figures in July, they slumped in August. So far in September, they have been recovering.
U.S. stocks fell in morning trading on Tuesday as weak economic data from China added to fears of a global recession and pushed investors out of riskier technology stocks. China's factory-gate prices shrank 0.8% in August, the sharpest pace of decline in three years, as businesses slashed prices to cope with flagging demand amid a bruising trade war with the United States that has slowed growth in the world's second largest economy. Losses in Visa Inc and Mastercard Inc pulled the tech sector 1.51% lower.
Electric truck maker Rivian Automotive LLC said on Tuesday that it has received an equity investment of $350 million from Cox Automotive Inc, owner of the Autotrader online automobile market and Kelley Blue Book car valuation service. Rivian said the two companies will also explore opportunities for partnerships in digital retailing, service operations and logistics. Michigan-based Rivian, a potential rival to Silicon Valley's Tesla Inc founded in 2009, has raised close to $1.9 billion from investors.
Fannie Mae Shares Explode Higher Amid Possible Privatization by Trump Administration It’s been 146 months since Fannie Mae (OTCMKTS:FNMA) began its epic collapse, as everybody in the market suddenly realized that one entity buying most of the mortgages in the country regardless of borrower creditworthiness wasn’t exactly the greatest idea after all. As a result […]The post Market Morning: Fannie Mae Cheers, Ford Junked, Deficit Tops $1T, Ma Retires, Parliament Prorogued appeared first on Market Exclusive.