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Ford To Cut 900 Jobs
Thursday, February 18, 2010 - 4:30pm | 46Ford Motor Co. (F) said it will cut about 900 jobs at its plant that makes the Mustang.
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Soleil Recommends Buy For Group 1 Automotive (GPI, TM)
Thursday, February 18, 2010 - 2:10pm | 147Soleil Securities upgraded Group 1 Automotive (NYSE: GPI) to Buy from Hold due to a drop in the company’s stock price and recalls by Toyota Motor Corp. (ADR) (NYSE: TM). Soleil recommended a target price of $36 for GPI based on the midpoint of 2010 expected earnings. 2010 EPS is raised to $2.25...
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Daimler (DAI) Scraps Dividend First Time In 14 Years
Thursday, February 18, 2010 - 12:27pm | 121For the first time in 14 years the German automaker Daimler AG (NYSE: DAI) will not be distributing the dividends for the year 2009, following worse-than-expected loss. The shares of the car-maker fell by more than 8% to their lowest point since September 2009. "Following a significant (20 percent...
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Dollar Thrifty (DTG) Shares Rally On Surprise Q4 Profit
Thursday, February 18, 2010 - 11:43am | 112Car-rental company Dollar Thrifty Automotive Group Inc (NYSE: DTG) shares seem to be rallying after their Q4 results have shown a surprise profit. The scrip is now at $30.25 up 8.46%. According to Thomson Reuters, analysts were expecting the scrip to make a loss of 8 cents to a share. The rise...
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Toyota Shares Rise Despite Corolla Steering Problems (TM)
Thursday, February 18, 2010 - 10:42am | 103Toyota Motor Corporation (ADR) (NYSE: TM) shares rose on Thursday despite U.S regulators launching a probe into Toyota Corolla’s steering problems. Investors are not very optimistic about Toyota but are pleased with the company’s efforts to regain the position it once established in the U.S. Toyota...
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US Stock Futures Mixed Before Economic Data; Points Towards A Weak Opening (WMT, DAI, ABB)
Thursday, February 18, 2010 - 9:06am | 206US stock futures held to a tight range today ahead of the earnings news from retailing giant Wal-Mart Stores (NYSE: WMT). While futures on S&P 500 slipped 1.3 points to 1098.30, those on Nasdaq 100 gained 1.75 points to 1813.50. Meanwhile, Dow Jones Industrial Average futures lost 5 points....
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Second Recall Of Corollas Could Damage Toyota’s Image Further (TM)
Thursday, February 18, 2010 - 8:52am | 166Toyota Motor Co. (ADR) (NYSE: TM) could face further damage to its brand image in the face of a second recall of its flagship Corolla model in the US. The problems cited by consumer complaints, this time around, involve the steering. Regulators in the US started a preliminary investigation into...
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Market Roundup (MSFT, QTEL, BAC, TM, FNM, FRE, HUM)
Wednesday, February 17, 2010 - 3:00pm | 270Microsoft (NASDAQ: MSFT) and Qatar Telecom (NASDAQ: QTEL) have signed a strategic alliance to bring together integrated cloud-based services, software applications, mobile services and devices over QTEL’s converged network for work and entertainment purposes. MSFT and QTEL plan to launch their...
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Quarterly Update: George Soros Calls Gold (GLD) a Bubble; Then Stocks Up on It
Wednesday, February 17, 2010 - 11:32am | 1180It's that time of year, where once a quarter we get to see what the "gurus" are doing. This has become a favorite for the Wall Street community because if there is one thing big money likes... it's group think! There are only a handful of 'whales' I normally will discuss on the blog, and George...
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Toyota (TM) President Won't Attend Congressional Hearings
Wednesday, February 17, 2010 - 8:21am | 131Akio Toyoda, the president of Toyota Motor Corp. (NYSE: TM), will not attend Congressional hearings in the United States that are looking into the quality issues that led to Toyota's recall of over 8.5 million vehicles and are believed to be responsible for numerous deaths and accidents. Toyoda...
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Toyota (TM) May Halt U.K. Production
Wednesday, February 17, 2010 - 12:32am | 132According to the British newspaper The Times, Toyota Motor Corp. (NYSE: TM) is considering a production halt at its U.K manufacturing plant. The Times cited an unidentified source as saying that Toyota sales in the U.K. have been hit so hard that Toyota Motor Corp. may halt production there while...
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More Deaths Linked To Toyota Sudden Acceleration Faults (TM)
Tuesday, February 16, 2010 - 10:16am | 143The sudden acceleration faults in Toyota Motor Corporation’s (ADR) (NYSE: TM) cars have caused 34 deaths, up from the 21 deaths that were recorded prior to the millions of cars that were recalled by Toyota. Of the 34 deaths reported due to the faulty acceleration issues, 13 were filed after Jan 22...
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Toyota (TM) Lowers 2010 Vehicle Production Forecast
Monday, February 15, 2010 - 9:56pm | 161According to the Japanese Sankei Shimbun, Toyota Motor Corp. (NYSE: TM) will reduce its global vehicle production forecast by at least 100,000 this year. The reduction from 7.5 million vehicles down to 7.4 million vehicles does not include non Toyota brand subsidiaries like Hino Motors Ltd. The...
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Toyota (TM) To Announce Testing And Disclosure Changes
Monday, February 15, 2010 - 6:49pm | 292Toyota Motor Corp. (NYSE: TM) will host a news conference at the auto manufacturer's Tokyo office to announce plans to increase product testing and disclosure of changes being made to cars that are already on the market. One of the issues Toyota Motor Corp. is looking into is how an operational...
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Ford Motor Co. (F) Dealerships Begin Energy Saving Program
Monday, February 15, 2010 - 12:10pm | 166Ford Motor Co. (NYSE: F) started a pilot program to increase energy efficiency as well as become more environmentally friendly at three of its dealerships. Ford aims to pass on to dealers the energy and cost saving methods it has used at its own manufacturing plants and offices. The program, called...