If you owned SolarCity stock yesterday, you own Tesla stock today.
We all know by now that Fiat will take an initial 20% stake in Chrysler in exchange for supplying the bankrupt automaker small-car platforms and fuel efficient drivetrains. Further down the road, Fiat will have the opportunity to purchase a large stake in Chrysler, upping its ownership to 35% and between 2013 and 2016, the Italian automaker can take an additional 16% share of Chrysler, bringing its total to 51% and gaining majority control. However, until Chrysler repays its loans to the U.S. Tr
It's official, Porsche has submitted an offer to buy the Volkswagen group. Unless you've been living in a cave, you probably already know that the erstwhile sportscar manufacturer is more profitable than the megalithic auto consortium, with all its subsidiaries, and has been steadily increasing its stake in VW.
"Screw you guys, I'm going home." A phrase made famous by Cartman from South Park but one that we find so apt for news coming out of General Motors this afternoon. Royally irked over the ending of alliance talks with Renault/Nissan, billionaire investor Kirk Kerkorian has announced that he won't buy an additional 12 million shares of GM stock as he said he would, and that his advisor/muscle Jerry York has resigned his seat from the board of General Motors. The additional 12 million shares would'
Yesterday the price of GM stock was up $1.05 or 4.46 percent on news that Deutsche Bank analyst Rod Lache had raised his rating on the stock up to "hold" from "sell". Why the change of heart? Monday's announcement that GM had broke a five-quarter losing streak with a Q1 2006 earning of $445 million was responsible. The sudden gush of black ink in the books was a result of GM's health-care settlement with Delphi, reportedly worth $681 million, being excluded from the company's balance sheet.
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