General Motors (GM) reaches tentative agreement with Canadian union to end strike

General Motors (GM) OSHA recommends fines for GM joint venture battery plant

October 12, 2023 3:08 PM EDT

The Occupational Safety and Health Administration (OSHA), Thursday recommended imposing fines of $270,000 on a joint venture battery plant in Ohio, operated by General Motors (NYSE: GM) and LG Energy Solution.

The recommendation comes after inspectors found the company exposed workers to hazards when they failing to train on safety and emergency response procedures and did... More

UAW escalates strike with surprise walkout at Ford (F) Kentucky plant

October 12, 2023 8:46 AM EDT

The United Auto Workers (UAW) union began a surprise strike against Ford Motor, specifically targeting the automaker's most profitable SUV and pickup truck production facility in Kentucky.

This unexpected strike started at 6:30 p.m. Eastern Time on Wednesday, disrupting operations at Ford's Kentucky Truck Plant. This facility is responsible for manufacturing Ford Super Duty pickups, along with the Ford Expedition and Lincoln Navigator SUVs. The workforce at this plant comprises 8,700 UAW members.

The strike raises places additional... More

Idra builds gigapress casting machine for Ford (F) and Hyundai

October 11, 2023 9:52 AM EDT

Idra, a manufacturer of aluminum casting machines in Italy and a supplier to Tesla (NASDAQ: TSLA), has expanded its customer roster to include Ford (NYSE: F), Hyundai, and a European company, reflecting the growing interest among automakers in... More

Italian union cuts annual production forecasts for Stellantis (STLA)

October 11, 2023 9:06 AM EDT

Italy's FIM Cisl union on Wednesday revised its vehicle production outlook for Stellantis (NYSE: STLA) in Italy for the current year due to a recent deceleration in the market.

Presenting Stellantis' Italian production data for January to September, the union now anticipates the company's Italian output to reach approximately 730,000 vehicles in 2023.

While this represents a 6.4% increase compared to 2022, it falls short of the 800,000 vehicle projection that... More

Stellantis (STLA) and Samsung will build a 2nd joint EV battery plant in Indiana

October 11, 2023 8:52 AM EDT

Stellantis (NYSE: STLA) and South Korea's Samsung SDI Co Ltd revealed on Wednesday the two companies their plans to establish a second electric vehicle battery facility in Kokomo, Indiana, which happens to be the hometown of United Auto Workers President Shawn Fain.

The union leader is presently engaged in a dispute with the Detroit Three automakers regarding union representation in new battery plant establishments.

Stellantis and SDIs... More

General Motors Canada, Unifor Union Reach Tentative Agreement - Bloomberg

October 10, 2023 1:37 PM EDT

General Motors Canada, Unifor Union Reach Tentative Agreement - Bloomberg

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GM Defense (GM) and Anduril Announce Teaming Agreement

October 10, 2023 8:33 AM EDT

GM Defense LLC, a subsidiary of General Motors (GM) (NYSE: GM), and Anduril Industries, Inc. announced a teaming agreement, establishing a framework to collaborate on defense program capture activities. The team is focused on delivering autonomy solutions, battery electrification and other new propulsion technologies, as well as those integrating the full range of Anduril technologies onto GM Defense mobility solutions.

The announcement aligns with the... More

These 15 stocks could surprise as Q3 earnings season is about to start - HSBC

October 10, 2023 8:14 AM EDT

The Q3 earnings season is here and analysts are out with their preview notes on what investors can expect from companies.

After experiencing three consecutive quarters of declines, earnings for the S&P index are anticipated to finally show a year-on-year increase in the third quarter of 2023. However, these expectations are relatively modest, according to HSBC, with consensus estimates suggesting meager growth of 1% year-on-year and 2.5% quarter-on-quarter.

Despite this, HSBC strategists led by Nicole Inui argue that the expectations are overly pessimistic.

Q3 Earnings Expectations

In the first and second quarters, earnings exceeded... More

General Motors (GM) PT Lowered to $43 at UBS

October 10, 2023 7:15 AM EDT

UBS analyst Patrick Hummel lowered the price target on General Motors (NYSE: GM) to $43.00 (from $44.00) while maintaining a Buy rating.... More

Stellantis NV (STLA:IM) (STLA) PT Raised to EUR38 at Deutsche Bank

October 10, 2023 5:52 AM EDT

Deutsche Bank analyst Tim Rokossa raised the price target on Stellantis NV (STLA:IM) (NYSE: STLA) to EUR38.00 (from EUR34.00) while maintaining a Buy rating.... More

Stellantis NV (STLA:FP) (STLA) PT Raised to EUR20.50 at UBS

October 9, 2023 11:14 AM EDT

UBS analyst Patrick Hummel raised the price target on Stellantis NV (STLA:FP) (NYSE: STLA) to EUR20.50 (from EUR19.00) while maintaining a Buy rating.... More

Stellantis (STLA) to introduce new commercial vehicles and strategy

October 9, 2023 9:42 AM EDT

Stellantis (NYSE: STLA) revealed Monday morning that the automaker plans to introduce reimagined Commercial Vehicles from multiple brands on Monday, October 23, at 3 p.m. CEST / 9 a.m. EDT.

Jean-Philippe Imparato, who leads the Commercial Vehicles Business Unit, and Xavier Peugeot, the Senior Vice... More

Stellantis NV (STLA) PT Lowered to $24.38 at Jefferies

October 9, 2023 7:48 AM EDT

Jefferies analyst Philippe Houchois lowered the price target on Stellantis NV (NYSE: STLA) to $24.38 (from $25.30) while maintaining a Buy rating.... More

General Motors (GM) PT Lowered to $35 at Jefferies

October 9, 2023 7:48 AM EDT

Jefferies analyst Philippe Houchois lowered the price target on General Motors (NYSE: GM) to $35.00 (from $39.00) while maintaining a Hold rating.... More

Ford (F) PT Lowered to $13.50 at Jefferies

October 9, 2023 7:48 AM EDT

Jefferies analyst Philippe Houchois lowered the price target on Ford (NYSE: F) to $13.50 (from $15.00) while maintaining a Hold rating.... More

UAW President Fain holds Facebook live event - 'Our strike is working, but were not there yet'

October 6, 2023 2:36 PM EDT

United Auto Workers (UAW) President Shawn Fain held a Facebook live event Friday afternoon where he announced his union has made significant progress in their effort to push automakers towards meeting the demands of workers.

Fain announced that moments before this broadcast General Motors (NYSE: GM) agreed to place their EV battery manufacturing under the UAWs national agreement, calling the decision a... More

Carmakers Spared From New Strikes This Week As Talks Progress - Bloomberg

October 6, 2023 2:34 PM EDT

Carmakers Spared From New Strikes This Week As Talks Progress - Bloomberg

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Fain Says UAW 'Making Significant Progress' But No Deals Yet

October 6, 2023 2:30 PM EDT

Fain Says UAW 'Making Significant Progress' But No Deals Yet

... More

General Motors (GM) Made Concessions In Recent Talks With UAW - Reuters

October 6, 2023 2:18 PM EDT

(Updated - October 6, 2023 2:24 PM EDT)

General Motors (GM) Made Concessions In Recent Talks With UAW - Reuters

UAW president says it will not strike GM Arlington, TX plant.Says had a 'major breakthrough.'Says strike is working but we are not there... More

UAW's Fain to provide updates on talks with Detroit Three - Reuters

October 6, 2023 10:49 AM EDT

Investing.com -- A video address from United Auto Workers President Shawn Fain on Friday will include substantive updates on negotiations with the so-called Detroit Three carmakers, according to Reuters.

Citing people familiar with the matter, Reuters reported that Fain's statements -- scheduled for 14:00 p.m. ET (18:00... More

U.S. releases new guidance on EV tax credit rebate rules

October 6, 2023 10:26 AM EDT

The U.S. Treasury Department has issued fresh guidelines on Friday, outlining updated regulations that make it simpler for individuals to recover costs associated with electric vehicle purchases using the existing EV tax incentives.

Beginning on January 1, consumers will have the option to transfer these credits directly to a car dealership, effectively reducing the purchase price for the vehicle. This change is expected to potentially boost EV... More

GM airbag recall could cost ~$4-5B - Wells Fargo

October 6, 2023 8:50 AM EDT

Wells Fargo reiterated an Underweight rating on General Motors (NYSE: GM) and maintained their 12-month price target of $29.00 on the stock following a report by the Wall Street Journal saying U.S. regulators are pushing to recall 52M ARC airbag inflators.

The National Highway Traffic Safety Administration (NHTSA), in a rarely held public forum, recommended the recall as a mechanism utilized in the... More

Pioneer, Disney, Virgin Galactic rise premarket; Exxon, Philips fall

October 6, 2023 8:16 AM EDT

Investing.com -- U.S. futures rose Friday, with investors awaiting the release of the key monthly jobs report for clues of future monetary moves by the Federal Reserve.

Here are some of the biggest premarket U.S. stock movers today:

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Wells Fargo: The General Motors (GM) recall could cost ~$4-5B

October 6, 2023 5:30 AM EDT

Wells Fargo analyst Colin M. Langan reiterated an Underweight rating and $29.00 price target on General Motors (NYSE: GM).

The analyst commented: "Precedent airbag recalls at GM, Ford & Honda imply the recall costs could be $200 to $260 per vehicle. This implies a... More

Popular stocks with increasing volume: RIVN GM KO XOM SQ PLTR CVNA

October 6, 2023 4:09 AM EDT

Popular stocks with increasing volume: RIVN GM KO XOM SQ PLTR CVNA

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