Stellantis (STLA) to cut 3,500 U.S. jobs

Daimler joint venture to build $650M nationwide charging network for electric trucks

Mercedes-Benz owned Daimler Truck on Friday introduced Greenlane, the name of its joint venture with NextEra Energy and BlackRock Alternatives.

The more than $650 million joint venture was formed to design, develop, install and operate a U.S. nationwide, high-performance zero-emission public charging and hydrogen fueling network for medium- and heavy-duty battery-electric and hydrogen fuel cell vehicles.

They also unveiled renderings of the site layout as a major milestone in the development of the... More

Texas house approves $200 annual fee on EVs, bill heads to Gov. Abbott’s desk

A Texas bill requiring electric vehicle drivers to pay an additional annual $200 fee passed the state House of Representatives Thursday with a unanimous vote of 145-0. SB 505 will now head to Gov. Greg Abbotts desk where it is expected to be signed.

Republican state Sen. Robert Nichols, who sponsored the legislation, said an additional electric vehicle fee is necessary because EV drivers don't pay gas taxes when they fuel their vehicles.

"As... More

Stellantis (STLA) signs offtake agreement, invests in Alliance Nickel

American carmaker, Stellantis (NYSE: STLA) announced alongside Alliance Nickel Friday the signing of a binding offtake agreement for the supply of 170,000 tons of nickel sulphate and 12,000 tons of cobalt sulphate in total over an initial five-year period.

This represents approximately 40% of forecast annual production of the NiWest Nickel-Cobalt Project in Western Australia. Pricing for the nickel and cobalt sulphate is linked to index prices.

In addition to the offtake deal,... More

Morgan Stanley adjusts estimates ahead of Ford’s (F) 1Q release

Morgan Stanley reiterated an Overweight rating and $14.00 price target on Ford Motor Company (NYSE: F) ahead of the American automakers 1Q earnings release. Ford is scheduled to report 1Q earnings results on Mary 2nd.

Analyst Adam Jonas wrote in a note,... More

Stellantis (STLA) offering voluntary buyouts to 33,500 U.S. employees

Stellantis (NYSE: STLA) announced Wednesday that the Chrysler parent company is offering voluntary exit packages to 33,500 U.S. employees as it looks to streamline operations.

The automaker did not say how many total jobs it is looking to eliminate. However, the offer covers 31,000 U.S. hourly workers and about 2,500 salaried workers. The company is also... More

General Motors (GM) PT Raised to $48 at RBC Capital

RBC Capital analyst Joseph Spak raised the price target on General Motors (NYSE: GM) to $48.00 (from $46.00) while maintaining a Outperform rating.... More

General Motors (GM) PT Lowered to $37 at Mizuho Securities

Mizuho Securities analyst Vijay Rakesh lowered the price target on General Motors (NYSE: GM) to $37.00 (from $39.00) while maintaining a Neutral rating.... More

General Motors (GM) PT Lowered to $35 at Deutsche Bank

Deutsche Bank analyst Emmanuel Rosner lowered the price target on General Motors (NYSE: GM) to $35.00 (from $37.00) while maintaining a Hold rating.... More

Popular stocks increasing options volume: AAL F FRC COIN GM NFLX BBBY

Popular stocks increasing options volume: AAL F FRC COIN GM NFLX BBBY

General Motors (GM) PT Lowered to $42 at Barclays

Barclays analyst Dan Levy lowered the price target on General Motors (NYSE: GM) to $42.00 (from $45.00) while maintaining a Equalweight rating.... More

General Motors (GM) PT Raised to $79 at Citi

Citi analyst Itay Michaeli raised the price target on General Motors (NYSE: GM) to $79.00 (from $76.00) while maintaining a Buy rating.... More

S&P 500 slumps as underwhelming quarterly results rattle sentiment

Investing.com -- The S&P 500 slumped Tuesday, weighed down by a string of underwhelming earnings from corporate America just ahead of the highly anticipated results from big tech.

The S&P 500 fell 1.4%, the Dow Jones Industrial Average was 1%, or 320 points lower, and the Nasdaq fell 1.7%.

Investor jitters in the banking sector returned after First Republic Bank (NYSE: FRC) plunged 40% to record lows after reporting mixed first-quarter results that also showed its deposit levels fell by $104... More

Midday movers: First Republic, United Parcel Service, Spotify and more

Investing.com -- Stocks were falling on Tuesday on renewed worries about the banking sector after First Republic said $100 billion of deposits flowed out in the first quarter. Here are the market movers for April 25.

Popular stocks increasing options volume: AAL F FRC COIN GM NFLX BBBY

Popular stocks increasing options volume: AAL F FRC COIN GM NFLX BBBY

General Motors (GM) to end production of Chevy Bolt in shift to EV trucks and SUVs

General Motors (NYSE: GM) announced Tuesday that the American automaker will end production of its Chevrolet Bolt electric vehicle later this year as its shifts zero-emission production to trucks and SUVs built on a new battery platform.

In January 2022, GM said it would invest $4 billion in its Orion Township... More

Mercedes-Benz launches new E-Class, its final ICE vehicle

Mercedes-Benz on Tuesday announced the launch of the German luxury automakers final new combustion engine model - the next generation of the E-Class. The new vehicle will be built in Germany and China and go on sale in Europe in the third quarter of this year.

It will... More

Hyundai and SK On finalize $5B EV battery venture in U.S.

Hyundai Motor Co. announced Tuesday that the South Korean automaker has finalized a $5 billion electric vehicle (EV) battery joint venture in the U.S., boosting electrification efforts in the country.

Hyundai and partner SK On, a battery unit of SK Innovation Co Ltd (096770.KS), will set up a... More

GM to end production of Chevrolet Bolt EV later this year

By David Shepardson

WASHINGTON (Reuters) -General Motors Co said on Tuesday it will end production of its Chevrolet Bolt electric vehicle later this year as its shifts zero-emission production to trucks and SUVs built on a new battery platform.

"We have progressed so far that it's now time to plan to end the Chevrolet Bolt EV and EU production, which will happen at the very end of the year," GM CEO Mary Barra told investors on Tuesday.

The largest U.S. automaker sold 38,120 Bolt EVs in 2022, up from 24,828 in 2011 -- and 19,700 in the first three... More

CFRA upgrades General Motors (GM) to Hold following 1Q beat and raise

CFRA Research upgraded General Motors (GM) to a Hold rating (From: Sell) and raised their price target on the stock to $35.00 ($From: $31.00) as the automaker continues to benefit from favorable demand following 1Q results.

Analyst Garrett Nelson wrote in a note, "While we continue to believe the near-term... More

General Motors (GM) and Samsung to build battery plant in U.S.

General Motors Co. (NYSE: GM) and Samsung SDI announced Tuesday that they plan to invest more than $3 billion to build a new battery cell manufacturing plant in the United States with a targeted to begin operations by 2026.

Reuters reported in January that GM and LG Energy Solution would not move forward with a fourth U.S. battery manufacturing plant. GM and LG Energy are building a $2.6 billion plant in Michigan, set to open in 2024, one of three joint venture Ultium Cells LLC plants.

According to unnamed sources at CNBC,... More

CFRA Upgrades General Motors (GM) to Hold on valuation

(Updated - April 25, 2023 8:36 AM EDT)

CFRA analyst Garrett Nelson upgraded General Motors (NYSE: GM) from Sell to Hold with a price target of $35.00 (from $31.00).

The analyst commented, "We raise our 12-month target by $4 to $35, based on a '24 P/E of 5.5x, a... More

General Motors (GM) adds 3% on big Q1 beat, raised FY forecast

General Motors (NYSE: GM) shares are up in pre-open Tuesday after the carmaker reported better-than-expected Q1 results and raised its full-year forecast.

The Michigan-based business posted EPS of $2.21 on revenue of $40 billion, topping the consensus for earnings of $1.70 on revenue of $38.4B. The company... More

Stocks expected to have increasing option volume: PEP UPS BKU FDX GE GEHC EDR VZ THC GM

Stocks expected to have increasing option volume: PEP UPS BKU FDX GE GEHC EDR VZ THC GM

General Motors (GM) Tops Q1 EPS by 51c, Beats on Revenue; Offers FY23 Guidance

General Motors (NYSE: GM) reported Q1 EPS of $2.21, $0.51 better than the analyst estimate of $1.70. Revenue for the quarter came in at $40 billion versus the consensus estimate of $38.4 billion.

For FY23 the company guided:

GM lifts guidance, but cautions price gains won't last

By Joseph White and Paul Lienert

DETROIT (Reuters) -General Motors Co on Tuesday lifted its full-year profit and cash flow forecasts, citing stronger-than-expected demand and higher prices, but executives cautioned the price gains over 2022 won't last as the year goes on.

After better-than-expected first quarter results, the No. 1 U.S. automaker said it expects full-year pre-tax profit in a range between $11 billion and $13 billion, up $500 million from a prior forecast.

Consumers willing to pay a rich price for a new vehicle gave GM a significant boost in the latest quarter. Higher prices added nearly $1,800 a... More

General Motors (GM) and Samsung SDI to Invest $3B+ to Expand U.S. Battery Cell Manufacturing

General Motors Co. (NYSE: GM) and Samsung SDI announced today they plan to invest more than $3 billion to build a new battery cell manufacturing plant in the United States that is targeted to begin operations in 2026.

"GM's supply chain strategy for EVs is focused on scalability, resiliency, sustainability and cost-competitiveness. Our new relationship with Samsung SDI will help us achieve all these objectives," said GM Chair and CEO Mary... More

Samsung SDI, GM to build $3 billion joint EV battery plant in US

SEOUL (Reuters) - Samsung SDI Co Ltd said on Tuesday it will invest $3 billion or more to build a joint venture electric vehicle (EV) plant with General Motors Co in the United States.

Targeted to start in 2026, the plan aims to have an annual production capacity of 30 gigawatt... More

GM, Samsung SDI to invest more than $3 billion to build joint EV battery plant in US

By David Shepardson and Heekyong Yang

WASHINGTON/SEOUL (Reuters) -General Motors Co and Samsung SDI said on Tuesday they will invest over $3 billion to build a joint venture electric vehicle battery manufacturing plant in the U.S., as the automaker diversifies its component suppliers.

The news comes as South Korean President Yoon Suk Yeol is in Washington to meet President Joe Biden on what is the first state visit to the U.S. by a South Korean leader in 12 years.

Yoon, who has made business opportunities a cornerstone of his foreign policy visits, is... More

General Motors (GM) Declares $0.09 Quarterly Dividend; 1% Yield

General Motors (NYSE: GM) declared a quarterly dividend of $0.09 per share, or $0.36 annualized.

The dividend will be payable on June 15, 2023, to stockholders of record on June 2, 2023, with an ex-dividend date of June 1, 2023.

The annual yield on the dividend is 1 percent.

For a... More

General Motors (GM) April weekly option implied volatility elevated into quarter results

General Motors (NYSE: GM) April weekly call option implied volatility is at 66, May is at 41; compared to its 52-week range of 31 to 61 into the expected release of quarter results before the bell on April 25.

Increasing unusual call option volume: STLA EWJ TIP FRC IGT XPO MCRB OBE WAL

Increasing unusual call option volume: STLA EWJ TIP FRC IGT XPO MCRB OBE WAL