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Tesla Just Reported a $312-Million Profit
Wall Street appears to be happy.
Apple’s Market Cap Eclipses Automakers
Apple is a giant among monsters. This California-based tech firm sells millions upon millions of iDevices and Macintosh computers every year, products that have made them prosperous beyond belief. But could the company have its eye on the automotive industry?
Toyota Sells Between Zero and All of its Tesla Shares
The other day Daimler divested itself from Tesla and now Toyota has followed suit … sort of.
Fiat Chrysler Automobiles Makes Wall Street Debut
Fiat Chrysler Automobiles (FCA) made its Wall Street Debut today. The Italian company is working to shift its focus from Europe to the United States.
Tesla’s Stock Price Sets New Record, Tops $247
Tesla saw its stock price jump nearly 14 percent this morning to a record high.
Chrysler Files IPO, Speeds Valuation of VEBA Shares
Chrysler filed for an IPO today in a move that could help Fiat acquire the remaining 41.5 percent stake that it does not currently own.
Tesla Stock Tops $100 for First Time
Tesla CEO Elon Musk must be feeling good today. The share price for his electric car company gained 7.7 percent today and rose to $104.58 shortly after noon.
Ford Cash Dividend Reinstated For Next Quarter
It seems Ford‘s financial health is improving after an announcement that they will reinstate a cash dividend on their stocks at 5 cents a share. Ford originally abandoned the dividend in 2006 as part of an effort to preserve cash after posting a total of $9 billion in losses the previous five years. They hadn’t…
UAW Head Bob King Slams Ford CEO’s $56.5 Million Compensation
UAW chief Bob King slammed Ford CEO Alan Mulally’s $56.5 million stock package, claiming that “I don’t think any human being in the world deserves that much money.” While certain to raise the ire of Ayn Rand fanatics everywhere, King is amping up the rhetoric ahead of the United Auto Workers “bargaining conference” where strategies…
UAW Official Hopes Ford Will Share Profits Amid Executive Stock Offerings
With Ford awarding more than $130 million in stock to its top executives, the UAW official in charge of Ford is optimistic that the company will also compensate union members who build the vehicles that Ford sells. “I am going to look at that on the up side and say that I know that they…
Ferrari Will Not Release IPO For Several Years
Ferrari head Luca Cordero di Montezemolo denied reports that the company was planning to go public. “There are no current plans (to list the company). Perhaps in three, four or five years. There is no project now. Maybe there never will be,” he told Reuters. There was brief speculation that Ferrari would be listed on…
Car Czar: GM IPO Price Undervalued At $29
Steve Rattner, who oversaw President Obama’s auto industry bailout, told Bloomberg News that GM’s Initial Public Offering share price was undervalued. “There is definitely a greater level of confidence in the ability of the carmakers to perform,” Rattner said at an Automotive Press Association event in Detroit. “That’s because of the profit numbers.” According to…
SAIC Looking To Buy GM IPO Shares
General Motors upcoming IPO is attracting a lot of attention, not least from Chinese car manufacturer SAIC. A long time partner of the General, SAIC is looking to buy a significant portion of GM’s IPO, and with nearly $6 billion in cash reserves, the company is in a good position to do so. According to…
