General Motors (GM) plans employment hike next year despite concerns of EV labor demand
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'The clock is ticking', UAW calls Stellantis (STLA) contract 'trash'
August 9, 2023 9:46 AM EDTUAW union President Shawn Fain angrily discarded contract offers from Stellantis (STLA) Tuesday as he discussed the extensive concessions that the Chrysler parent company is aiming to secure during their negotiations over labor matters.
Fain called the proposals a slap in the face during an online chat meeting, revealing that the company is suggesting reductions in health-care benefits, a decrease in vacation days for new employees,... More
Stellantis (STLA) Plans low-cost Fiat EV
August 7, 2023 3:28 PM EDTStellantis (NYSE: STLA) has announced that it plans to add a second affordable, no-frills, battery-electric vehicle to its Fiat brand lineup to compete with Renault and Chinese automakers.
According to Fiat brand CEO Olivier Francois , the new EV, inspired... More
CFRA cuts GM to Strong Sell as risk of UAW strike grows
August 7, 2023 8:08 AM EDTCFRA downgraded General Motors (NYSE: GM) to a Strong Sell rating (From Hold) and cut their price target on the stock to $28.00 (From $40) as the risk of a UAW strike becomes more likely.
Recent reports indicate that the United Auto Workers union and GM are still significantly distant in their... More
CFRA Downgrades General Motors (GM) to Strong Sell, 'cautious on the near-term earnings drag from GM's EV transition'
August 4, 2023 12:25 PM EDT(Updated - August 4, 2023 12:25 PM EDT)
CFRA analyst Garrett Nelson downgraded General Motors (NYSE: GM) from Hold to Strong Sell with a price target of $28.00 (from $40.00).
The analyst comments "
We cut our 12-month target to $28 from $40 based on a 2024 P/E of 4.2x, a steep but justified... More
General Motors (GM) GM’s cruise reaches robotaxi industry’s first labor union agreement
August 3, 2023 12:06 PM EDTOn Thursday, Cruise, the robotaxi division of General Motors (NYSE: GM), announced that it had reached a historic milestone by becoming the first company in the driverless car industry to establish labor union agreements.
According to the companys announcement, General Motors... More
