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GM

General Motors

$42.00

0.54 (1.30%)

05:11
02/13/18
02/13
05:11
02/13/18
05:11

GM Korea announces first step in restructuring, closing Gunsan plant

GM Korea announced that it will cease production and close its Gunsan plant by the end of May. The Gunsan facility has been increasingly underutilized, running at about 20% of capacity over the past three years, making continued operations unsustainable. This announcement occurs after a careful review of the company's operations, which have sustained significant losses for the past several years. GM has been aggressively addressing underperforming businesses globally, and is now focused on finding a solution for its South Korean operations. The company has proposed to its key stakeholders - including its labor union, the South Korean Government and key GM Korea shareholders - a concrete plan to stay in the country and turn the business around that requires the full support of all parties. The proposal includes significant product-related investments in South Korea and would preserve thousands of jobs. As a result of this action, GM expects to take charges of up to $850M, including approximately $475M of non-cash asset impairments and up to $375M of primarily employee-related cash expenses. Substantially all of these charges will be recorded by the end of the second quarter of 2018, and will be treated as special and excluded from the company's EBIT-adjusted and EPS-diluted-adjusted results.

GM General Motors
$42.00

0.54 (1.30%)

12/19/17
12/19/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. General Motors (GM) upgraded to Outperform from Sector Perform at RBC Capital with analyst Joseph Spak citing "increased confidence on downturn resiliency" in 2018, noting that while he anticipates a decline in fullsize pickup truck sales, he does not see "GMNA profitability to be down as much as previously forecast". 2. Walmart (WMT) upgraded to Buy from Neutral at Citi with analyst Kate McShane saying the stock has "more room to run" in 2018. 3. Ulta Beauty (ULTA) upgraded to Buy from Neutral at Buckingham with the firm saying they recommend adding to positions given "extremely" attractive valuation and better flow through profitability that will deliver 20%+ earnings growth over the next two years or more. 4. Cabot (CBT) upgraded to Buy from Hold at SunTrust with analyst James Sheehan saying the improving global supply/demand fundamentals, along with tighter emissions controls in China, warrant the rating change. 5. Altria Group (MO) upgraded to Buy from Hold at Berenberg with analyst Jonathan Leinster saying he assumes that the company's headline tax rate will decline from historical levels of 35-36% to 21-22% due to the Republicans' proposed U.S. corporate tax changes. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/28/17
MSCO
12/28/17
NO CHANGE
MSCO
January to be busy for Autos and Shared Mobility names, says Morgan Stanley
Morgan Stanley analyst Adam Jonas previewed the January calendar for the Autos and Shared Mobility sector, noting that the Vegas CES takes place in the second week and the Detroit Auto Show occurs in the third week of next month. Judging from last year's shows and press releases in recent weeks, he expects "the vast majority" of prepared presentations will focus on autonomous driving, electric propulsion and new business models as companies seek to encourage recognition and valuation of "Auto 2.0 efforts" in the multiples of their stocks, he tells investors. Automakers covered by the firm include Fiat Chrysler (FCAU), Tesla (TSLA), General Motors (GM), Ferrari (RACE) and Ford (F). Auto suppliers covered include Magna (MGA), Goodyear Tire (GT), Adient (ADNT), Delphi Technologies (DLPH), Visteon (VC), BorgWarner (BWA), Aptiv (APTV) and Tenneco (TEN).
01/08/18
MSCO
01/08/18
NO CHANGE
MSCO
Equal Weight
Morgan Stanley says Cadillac, worth $13B to GM, can't be ignored for long
General Motors does not disclose profitability by brand, but Morgan Stanley analyst Adam Jonas believes Cadillac is probably larger and more profitable than recognized by most investors, he stated in a new note. The analyst, who values Cadillac at about $13B, or roughly $9 per GM share, believes this value cannot be ignored for long and he sees room for GM's current efforts to improve financial and strategic transparency for the brand to gain momentum. Jonas keeps an Equal Weight rating on GM shares.
02/12/18
SBSH
02/12/18
NO CHANGE
Target $70
SBSH
Buy
General Motors price target raised to $70 from $60 at Citi
Citi analyst Itay Michaeli raised his price target for General Motors to $70 from $60 citing greater confidence in his long-term potential upside case of $134 per share. The carmaker closed Friday up 70c to $41.46. The analyst views his new price target as "arguably conservative." The $70 per share target does not contemplate the "potential game-changing implications" of GM's leadership in autonomous vehicles as a Network, or robotaxis, Michaeli tells investors in a research note. The analyst believes GM's exposure to pickup trucks and robotaxi networks are "overlooked/misunderstood narratives." He keeps a Buy rating on the shares.

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IBM

IBM

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AMZN

Amazon.com

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AXP

American Express

$102.98

1.84 (1.82%)

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IRDM

Iridium

$17.85

-0.35 (-1.92%)

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DDR

DDR Corp.

$13.88

-0.46 (-3.21%)

17:29
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Syndicate
Breaking Syndicate news story on DDR Corp. »

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EBAY

eBay

$37.95

0.13 (0.34%)

17:28
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eBay says significant product changes scheduled for 2H18 »

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AXP

American Express

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EBAY

eBay

$37.95

0.13 (0.34%)

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RESN

Resonant

$4.68

-0.14 (-2.90%)

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Resonant engages LHA for strategic investor relations services »

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KMI

Kinder Morgan

$17.78

0.09 (0.51%)

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Kinder Morgan CEO Steve Kean comments on Kinder Morgan Canada Limited »

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IBM

IBM

$144.44

0.98 (0.68%)

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IBM says Q2 revenue performance was driven by security and cloud segments »

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IWSY

ImageWare

$0.00

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LMT

Lockheed Martin

$319.86

2.48 (0.78%)

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SWK

Stanley Black & Decker

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BA

Boeing

$360.23

3.28 (0.92%)

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TAC

TransAlta

$5.30

0.05 (0.95%)

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IWSY

ImageWare

$0.00

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MWA

Mueller Water

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  • 07

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EBAY

eBay

$37.95

0.13 (0.34%)

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SPWH

Sportsman's Warehouse

$5.23

-0.16 (-2.97%)

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Syndicate
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FB

Facebook

$209.35

-0.64 (-0.30%)

17:09
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Facebook to start removing false info meant to incite violence, CNBC says »

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  • 25

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CCK

Crown Holdings

$45.12

-0.265 (-0.58%)

17:08
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Earnings
Crown Holdings lowers FY18 EPS view to $5.15-$5.30 from $5.35-$5.55 »

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