Barclays Upgrades General Motors (GM) to Overweight, 'We prefer GM over Ford'

Ford (F) Trucks partners with Quantron for joint development opportunity

November 2, 2023 2:32 PM EDT

Ford (NYSE: F) announced Thursday, along side sustainable passenger specialist, Quantron AG, that the two companies have signed a Letter of Intent (LOI) to evaluate Quantrons technology for integration into Ford Trucks.

In the initial stage of the partnership with Ford Trucks, Quantron guarantees a smooth... More

Ford (F) monthly EV sales down 9.1% Y/Y following UAW strike

November 2, 2023 9:46 AM EDT

Detroits Ford Motor Co. (NYSE: F) released their sales results for the month of October 2023, reporting a 5.3% drop in total U.S. sales. The report follows a strike by the United Auto Workers (UAW). For nearly six weeks, the union staged walkouts at... More

Toyota (TM) to raise wages of US workers following UAW labor deals

November 1, 2023 2:06 PM EDT

Toyota Motors (NYSE: TM) announced Wednesday that the Japanese automaker will raise the wages of the companys nonunion U.S. factory workers. The announcement comes just days after the United Auto Workers (UAW) union won major pay and benefits enhancements from Detroit's three biggest... More

Barclays upgrades GM, Ford to Overweight on 'historically cheap valuation'

November 1, 2023 11:14 AM EDT

Barclays upgraded Detroit automakers, General Motors (NYSE: GM) and Ford (NYSE: F) to Overweight ratings (From Equal-weight) as the companies move past the recent six-week long UAW labor strikes.

Barclays analysts suggest that the various challenges facing the business have created "peak pain," resulting in historically low... More

Deutsche Bank says losses may extend but will not derail EV transition

October 31, 2023 1:59 PM EDT

As emerging electric and legacy automakers voice concerns over what appears to be a deceleration of demand for battery electric vehicles, Deutsche Bank research analysts believe the existing BEV losses may extend but will not halt the industrys movement towards an EV transition.

During our IAA conference there was a debate if BEV adoption is slowing. This has now become a full blown concern about a potential EV demand meltdown. Writes Deutsche Bank analysts in a... More

Stellantis says UAW, Unifor strikes will cost carmaker less than U.S. peers

October 31, 2023 11:21 AM EDT

Investing.com -- Milan-listed shares in Stellantis (BIT:STLAM) rose on Tuesday after the Chrysler-owner said it does not expect a prolonged series of strikes at its plants to change the company's profitability and cash goals.

Six weeks of strikes over pay at factories in the U.S. and Canada are due to... More

Toyota (TM) to invest additional $8B in North Carolina EV battery plant

October 31, 2023 11:07 AM EDT

Toyota Motor (NYSE: TM), on Tuesday, announced that the Japanese automaker will make an additional $8B investment alongside the creation of approximately 3,000 new jobs, at its North Carolina electric-vehicle battery production facility.

The investment amplifies the Japanese automaker's efforts to transition... More

Deutsche Bank sees 'no hit' from UAW strike in October

October 31, 2023 10:45 AM EDT

Deutsche Bank research released an Industry update on the current state of the auto industry following the tentative conclusion of a six week long strike by the United Auto Workers against Detroits three biggest car companies, General Motors (NYSE: GM), Ford (NYSE: F), and Chrysler-parent Stellantis (NYSE:... More

Stock Market Today: Dow racks up swashbuckling gains as big tech shows strength

October 30, 2023 4:16 PM EDT

Investing.com -- The Dow racked up gains to close higher Monday, as big tech led the broader move higher ahead of quarterly earnings from Apple due later this week, and the Federal Reserves interest rate decision slated for Wednesday.

The Dow Jones Industrial Average jumped 1.6% or 511 points, and the S&P 500 rose 1.2%, the Nasdaq gained 1.2%.

Big tech rallies ahead of Apple earnings

Big tech including Alphabet (NASDAQ: GOOGL), Meta Platforms Inc (NASDAQ: META), and Meta Platforms (NASDAQ:... More

Popular stocks with increasing volume: PLTR PFE PINS AMC BAC GM MARA RIVN

October 30, 2023 4:13 PM EDT

Popular stocks with increasing volume: PLTR PFE PINS AMC BAC GM MARA RIVN

... More

S&P 500 rallies ahead of busy week as Apple earnings, Fed decision eyed

October 30, 2023 2:55 PM EDT

Investing.com -- The S&P 500 jumped Monday, led by big tech ahead of the earnings from Apple later this week, and the Federal Reserves interest rate decision due Wednesday.

The S&P 500 rose 1.3%, the Nasdaq gained 1.3%, and the Dow Jones Industrial Average jumped 1.7% or 558 points.

Big tech rallies ahead of Apple earnings

Big tech including Alphabet (NASDAQ: GOOGL), Meta Platforms Inc (NASDAQ: META), and Meta Platforms (NASDAQ: META) rallied to lift the broader... More

Tesla (TSLA) shares dip as Panasonic announced production cut

October 30, 2023 2:29 PM EDT

Shares of electric vehicle maker, Tesla (NASDAQ: TSLA) dipped more than 5% Monday after Panasonic Holdings, a crucial supplier, revealed a reduction in automotive battery production during the September quarter. The announcement comes amidst growing concerns over a worldwide deceleration in EV sales.

Panasonic... More

General Motors (GM) reaches tentative deal to end UAW strike

October 30, 2023 10:03 AM EDT

General Motors (NYSE: GM) and the United Auto Workers (UAW) have come to a preliminary agreement less than 48 hours after the union began its strike at the Spring Hill Assembly plant in Tennessee, marking the conclusion of the initial joint strike against the Detroit Three automakers.

Details of the agreement have... More

UAW reaches deal with GM, ending strike against Detroit automakers

October 30, 2023 9:19 AM EDT

By David Shepardson and Joseph White

(Reuters) - General Motors and the United Auto Workers (UAW) struck a tentative deal on Monday, ending the union's unprecedented six-week campaign of coordinated strikes that won record pay increases for workers at the Detroit Three automakers.

The accord follows deals the union reached in recent days with Ford Motor and Chrysler-owner Stellantis - significant victories for auto workers after years of stagnant wages and painful concessions following the 2008 financial crisis.

"We wholeheartedly believe our strike squeezed every last dime out of General Motors," UAW President Shawn Fain said... More

GM (GM) Said To Reach Tentative Agreement With UAW To End Strike - Bloomberg

October 30, 2023 9:10 AM EDT

(Updated - October 30, 2023 9:17 AM EDT)

GM (GM) Said To Reach Tentative Agreement With UAW To End Strike - Bloomberg

Similar terms to the deal signed by FordReport cities people with knowledge of the matterDeal includes 25% hourly pay raise plus cost of living allowances... More

Unifor begins strikes at Stellantis (STLA) facilities in Canada

October 30, 2023 8:55 AM EDT

Canadian labor union, Unifor announced Monday morning that they have initiated strikes across all Stellantis (NYSE: STLA) facilities in the country. Over 8,200 union members have participated in the walkout, following a failure to secure a preliminary resolution during labor contract negotiations.

Unifor's key demands include enhanced wages and pension benefits.... More

Stellantis (STLA) reaches labor deal with UAW as union expands strikes at GM

October 30, 2023 8:06 AM EDT

Stellantis (NYSE: STLA) and the United Auto Workers (UAW) union have tentatively agreed on a fresh labor contract, as confirmed by the UAW on Saturday, marking the resolution more than 40 days after the union initiated a strike against the Detroit Three automakers.

At... More

Ford shares inch higher pre-market following tentative UAW deal

October 30, 2023 7:53 AM EDT

Investing.com -- Shares in Ford Motor Company (NYSE: F) edged slightly higher in premarket U.S. trading on Monday, after the carmaking giant reached a tentative labor deal with the United Auto Workers union that would end long-standing strikes at some of the company's plants.

On Sunday, the UAW outlined the major parts of the 4-1/2-year agreement, which includes $8.1 billion in... More