Israel-based vehicle safety technology company Mobileye (NYSE: MBLY) has successfully launched its Initial Public Offering on the New York Stock Exchange, raising approximately $890 million to value the company at a reported $5.3 billion.
Well how's that for an about-face? It was not even two weeks ago that we were reporting on Warren Buffett's praise for General Motors' CEO Mary Barra and her handling of the ignition switch recall. That hasn't stopped Buffett's company, Berkshire Hathaway from unloading shares during the first quarter of 2014. It's trimmed its shares by 25 percent, to 30 million shares, during the first quarter of 2014.
Mitsubishi, which dates all the way back to 1870, is one of the oldest business collectives in Japan. Today, the various businesses that share the Mitsubishi name are largely independent of each other. The automotive unit, however, has fallen on hard times over the past few years.
When we want to know how a car company is doing, one thing we typically look at is how many cars it's selling. That means Toyota is the largest, General Motors the second, followed by Volkswagen, then down the line. But there are other metrics by which to evaluate how an automaker is doing. That, in the case of publicly-traded companies like GM, is stock price. And the General seems to be doing pretty well.
Special Inspector General Christy Romero has delivered another report to Congress on the state of the Troubled Asset Relief Program (TARP) up to June 6 of this year, assessing numbers to the US Treasury's remaining stake in General Motors. After stock sales in February and another a few months later, the Fed is still the owner of 14 percent of GM, totaling 189 million shares, and is $18.1 billion in the hole after the $49.5 billion loan to the automaker. Although the share price has risen more t
Elon Musk is talking about maybe forming a holding that would own stock in both of the companies he's incredibly busy with these days – Tesla Motors Inc. and Space Exploration Technologies Corp. (SpaceX) – basically to simplify his life. "No actual plans under way," he said. "[It] gets unwieldy to have lots of companies with me as the only connection." The holding company may own public shares of both California-based companies. Tesla Motors went public in 2010, and Musk is looking a
In another sign of its success, Ford has announced that it will be paying out a quarterly dividend, the first time it will do so in over five years. The five-cents-a-share dividend will begin on March 1, 2012.
On the eve of the Tesla Model S ride out in sunny California, analysts at JPMorgan Chase upped Tesla's stock (NASDAQ ticker symbol: TSLA) rating from "equal weight" to "overweight," boosting the automaker's status above most competitors in the automotive industry.
The past couple of weeks have been incredibly difficult for the stock market, with some of the largest drops in the history of the Dow. And even though Ford and General Motors recently posted massive second quarter profits, domestic auto shares are indeed taking a beating. In fact, GM stock has dropped by 25 percent in only a few weeks, down to $23.92 at closing on Wednesday.
Fiat has gone from a local automaker to a major industry powerhouse in a relatively short span of time, increasing its own market stake while taking over Chrysler to expand its global reach. But something's gotta give, figured the industry analysts, leading to speculation that one of its most valuable properties could be sold – at least in part – to raise capital for the rest.
Yesterday, Tesla Motors received a vote of confidence from Wall Street as its shares rose sharply in response to an upgraded status from financial services firm Morgan Stanley. According to our friends at Huffpost Business, the report from Morgan Stanley indicates that the Silicon Valley-based EV manufacturer may be poised to join GM, Ford and Chrysler as "America's fourth automaker" amid rising gas prices and government support of electric vehicles. You can find the full analysis here and a rec
According to The Detroit News, the United States Treasury Department is planning on quickly eliminating its shares of General Motors stock rather than trying to maximize the government's return on its investment. The news comes from Austan Goolsbee, chairman of the Council of Economic Advisors, who said that the government is interested in quickly shedding its 33 percent stake in the automaker due to the fact that it never wanted to be a shareholder in the automaker to begin with. The Detroit Ne