General Motors downgraded by Morgan Stanley with a new price target
$GM
Auto Manufacturing
Consumer Discretionary
Morgan Stanley downgraded General Motors from Overweight to Equal-Weight and set a new price target of $47.00 from $46.00 previously
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/10/2024 | $53.00 | Hold | Deutsche Bank |
| 9/5/2024 | Peer Perform | Wolfe Research | |
| 8/5/2024 | Neutral → Reduce | Nomura | |
| 7/24/2024 | $46.00 → $47.00 | Overweight → Equal-Weight | Morgan Stanley |
| 4/25/2024 | $55.00 | Outperform | Bernstein |
| 3/15/2024 | $44.00 | Neutral | Piper Sandler |
| 1/24/2024 | $40.00 | Neutral | Redburn Atlantic |
| 1/4/2024 | $42.00 | Peer Perform → Outperform | Wolfe Research |
Deutsche Bank resumed coverage of General Motors with a rating of Hold and set a new price target of $53.00
Wolfe Research resumed coverage of General Motors with a rating of Peer Perform
Nomura downgraded General Motors from Neutral to Reduce
Collaboration includes 400 fast charging stalls at flagship locations offering customer-centric features such as canopies, lighting, nearby amenities and pull-through access After years of collaborating to increase public charging access, EVgo Inc. (NASDAQ:EVGO) ("EVgo" or the "Company"), one of the nation's largest public fast charging networks, and General Motors ("GM") today announced that they are expanding upon their work together and taking charging to the next level by deploying 400 fast charging stalls at flagship destinations in major metropolitan areas across the U.S. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/202409
Hyundai Motor and GM to investigate joint product development, manufacturing and future clean energy technologiesBoth companies to target improved efficiencies and increased competitiveness through collaborationNEW YORK, Sept. 12, 2024 /PRNewswire/ -- General Motors (NYSE:GM) and Hyundai Motor Company (KRX: 005380 KS) have signed an agreement to explore future collaboration across key strategic areas. GM and Hyundai will look for ways to leverage their complementary scale and strengths to reduce costs and bring a wider range of vehicles and technologies to customers faster. Po
EL SEGUNDO, Calif., Sept. 10, 2024 /PRNewswire/ -- Boeing (NYSE:BA) today announced the scheduled 2026 launch of a satellite – dubbed Q4S – which is designed to demonstrate quantum entanglement swapping capabilities on orbit. This Boeing-funded, first-of-its-kind space mission brings humanity closer to building a secure, global quantum internet that connects quantum sensors and computers. Quantum sensors are much more precise than today's state-of-the-art instruments and quantum computers have the capacity to process large amounts of data, offering potential to revolutionize a
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In the wake of second-quarter earnings announcements, shares of leading automakers such as Ford Motor Company (NYSE:F), Tesla Inc. (NASDAQ:TSLA), and General Motors Company (NYSE:GM) experienced a downturn on Thursday. What Happened: Tesla’s shares fell by 2.03%, Rivian Automotive Inc‘s (NASDAQ:RIVN) by 3.13%, and GM’s by 1.91%. Stellantis NV (NYSE:STLA) and Ford suffered the most significant declines at 6.84% and 13.46%, respectively, according to Benzinga Pro data. Despite a modest 2% increase in revenue, Tesla’s second-quarter earnings per share did not meet expectations. Investors expressed concerns about a lower-than-expected auto gross margin and free cash flow. CEO Elon Musk’s c
Famed economist and vocal Bitcoin (CRYPTO: BTC) critic Peter Schiff has sounded a cautionary note following a significant drop in Ford Motor Company (NYSE:F) shares. Schiff attributes the 12% plunge to the automaker’s disappointing second-quarter earnings and has linked this to broader economic challenges. What Happened: Schiff took to social media platform X to share his concerns about the recent performance of Ford. He pointed to the company’s underwhelming second-quarter profits and bleak guidance as indicators of a larger economic struggle. Schiff attributed this to the financial strain on Americans, citing rising living costs and high interest rates on auto loans. He wrote, “Ford
General Motors Co (NYSE:GM) shares are trading lower after-hours Wednesday following Ford Motor Co.'s (NYSE:F) second-quarter earnings release. The Details: Ford shares are dropping after the company reported quarterly earnings per share of 47 cents, missing a Street consensus estimate of 68 cents. Ford also reported a 37% drop in revenue from its Ford Model e segment year-over-year, which the company attributed to industry-wide pricing pressure and lower wholesales. Read Next: Viking Therapeutics Stock Climbs On Q2 EPS Beat GM shares are down slightly in sympathy with Ford during after-hours trading. General Motors reported strong second-quarter results on Tuesday, beating Street
DETROIT, July 23, 2024 /PRNewswire/ -- General Motors Co. (NYSE:GM) today reported second-quarter 2024 revenue of $48.0 billion, net income attributable to stockholders of $2.9 billion and EBIT-adjusted of $4.4 billion. GM is also updating its 2024 full-year earnings guidance for the second consecutive quarter: Updated 2024 Guidance Previous 2024 Guidance Net income attributable to stockholders $10.0 billion - $11.4 billion $10.1 billion - $11.5 billion EBIT-adjusted $13.0 billion - $15.0 billion $12.5 billion - $14.5 billion Automotive operating cash flow $19.2 billion - $22.2 billion $18.3 billion - $21.3 billion Adjusted automotive free cash flow $9.5 billion - $11.5 billion $8.5 billion
DETROIT, July 22, 2024 /PRNewswire/ -- General Motors Co. (NYSE:GM) announced today that its Board of Directors has declared a third-quarter 2024 cash dividend on the company's outstanding common stock of $0.12 per share payable Sept. 19, 2024, to all common shareholders of record as of the close of trading on Sept. 6, 2024. General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which will power everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick,
DETROIT, June 11, 2024 /PRNewswire/ -- General Motors Co. (NYSE:GM) announced today that its Board of Directors has approved a new share repurchase authorization to repurchase up to $6 billion of the company's outstanding common stock. "The investments GM made in its brands and product portfolio over the last several years, and the company's operating discipline, are delivering consistently strong revenue growth, margins and free cash flow," said Paul Jacobson, GM executive vice president and chief financial officer. "We are very focused on the profitability of our ICE business, we're growing and improving the profitability of our EV business and deploying our capital efficiently. This allo
SDVerse serves as a ‘matchmaking' platform between buyers and sellers of embedded automotive softwareFocuses on matching automotive software buyers and sellers, over captive software developmentThe digital platform increases transparency and reduces inefficiencies in software development and procurementAmpere*, FEV, Forvia, HL Mando, NXP Semiconductors, TTTech Auto, and Valeo lead a "Launch Partner" group supporting SDVersePrashant Gulati has been named CEO of the new SDVerse organization effective March 5th, 2024 DETROIT, March 05, 2024 (GLOBE NEWSWIRE) -- General Motors (GM), global automotive supplier Magna, and leading technology services and consulting company Wipro Limited, have tea
Developed in partnership with General Motors, Girl Scouts' new playbook will serve as a comprehensive guide for adults, geared to get girls of all grade levels interested in science, technology, engineering and mathematics (STEM). NEW YORK, Feb. 7, 2024 /PRNewswire/ -- Today, Girl Scouts of the USA (GSUSA), the largest girl-led organization in the world, announces a new STEM Playbook, offering guidance, resources and support to all staff, volunteers and caregivers on how to continue sparking girls' interest in STEM. This multifaceted playbook, supported by General Motors, provides adults with ideas to help create hands-on, exciting activities to engage their Girl Scouts in STEM.
Chair Mary J. Guilfoile, Who Has Served With Distinction, to Step Down Following the 2024 Annual Meeting William S. Simon and Jill Sutton, Who Collectively Possess Experience in Capital Allocation, Corporate Governance and Transformations, Have Been Added to the Board Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics and financial services, today announced that Mary J. Guilfoile will step down as Chair and retire from the Board of Directors (the "Board") following the 2024 Annual Meeting of Stockholders (the "Annual Meeting"). The Board will elect a new Chair following Ms. Guilfoile's retirement. Add
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