Bernie's Feed
Jul 31, 2014

Tesla posts $61.9 mln loss as second-quarter sales climb

DETROIT, July 31 (Reuters) – Tesla Motors Inc, the
California-based maker of luxury electric cars, said it lost
$61.9 million, or 50 cents a share, in the second quarter, as
revenue nearly doubled to $769.3 million.

On a non-GAAP basis, Tesla said it earned 11 cents a share,
topping analysts’ expectations of 4 cents. The company expects
non-GAAP earnings to be about the same in the third quarter.

Jul 30, 2014

Chevy Volt, Mini Cooper Countryman pass crash test, Mazda 5 fails

DETROIT, July 30 (Reuters) – The General Motors Co
Chevrolet Volt was the only one of a dozen small cars tested by
the Insurance Institute for Highway Safety to earn a “Top Safety
Pick+” award, the IIHS said in a statement on Wednesday.

In small front overlap crash tests of a dozen small cars,
only BMW AG’s Mini Cooper Countryman scored a
top-rating of “good” for safety, and the Volt was among five
others that scored the second-highest rating of “acceptable,”
the IIHS said.

Jul 29, 2014

TRW Automotive second-quarter profit beats expectations; revenue rises

DETROIT (Reuters) – Auto systems supplier TRW Automotive Holdings Corp (TRW.N: Quote, Profile, Research, Stock Buzz), targeted for takeover by ZF Friedrichshafen, easily beat Wall Street profit expectations for the second quarter as revenue rose 2 percent.

Excluding one-time items, TRW earned $2.32 per share in the quarter, versus $2.02 a year earlier, it said on Tuesday. Analysts expected earnings of $2.12 per share, excluding one-time items, according to a poll by Thomson Reuters I/B/E/S.

Jul 29, 2014

TRW Automotive Q2 profit beats expectations; revenue rises

DETROIT, July 29 (Reuters) – Auto systems supplier TRW
Automotive Holdings Corp, targeted for takeover by ZF
Friedrichshafen, easily beat Wall Street profit expectations for
the second quarter as revenue rose 2 percent.

Excluding one-time items, TRW earned $2.32 per share in the
quarter, versus $2.02 a year earlier, it said on Tuesday.
Analysts expected earnings of $2.12 per share, excluding
one-time items, according to a poll by Thomson Reuters I/B/E/S.

Jul 25, 2014

FBI investigates Ford engineer after listening devices found

DETROIT (Reuters) – A former Ford Motor Co engineer is being investigated by the FBI after listening devices were found in meeting rooms at company offices, the automaker said on Friday.

“Ford and the FBI are working together on a joint investigation involving a former employee,” Ford spokeswoman Susan Krusel said. “As this is an ongoing investigation, we are not able to provide additional details.”

Jul 25, 2014

Lear earnings top expectations; stock rises

DETROIT, July 25 (Reuters) – Lear Corp, maker of
auto seats and electrical power systems, on Friday beat Wall
Street’s earnings expectations for the second quarter and
increased its full-year outlook, sending its shares up as much
as 5 percent.

The stronger-than-expected results came despite weakness in
South America and flat margins in the company’s important
seating business.

Jul 25, 2014

Insight: GM recalls far from calamity for some dealers who find new customers, business

By Nick Carey and Bernie Woodall

FOX LAKE Ill. (Reuters) – The news about deadly crashes linked to a faulty ignition switch, followed by wave upon wave of recalls, did not bode well for General Motors dealers earlier this year. It conjured visions of worried, frustrated drivers pouring onto lots like Raymond Chevrolet, outside of Chicago.

But according to Robbie Long, service director for the dealer and nearby Ray Chevrolet, what looked like “great adversity” has turned into an opportunity.

Jul 25, 2014

GM recalls far from calamity for some dealers who find new customers, business

, July 25 (Reuters) – The news about deadly
crashes linked to a faulty ignition switch, followed by wave
upon wave of recalls, did not bode well for General Motors
dealers earlier this year. It conjured visions of worried,
frustrated drivers pouring onto lots like Raymond Chevrolet,
outside of Chicago.

But according to Robbie Long, service director for the
dealer and nearby Ray Chevrolet, what looked like “great
adversity” has turned into an opportunity.

Jul 24, 2014

Ford profit beats expectations, sets record for N. America

, July 24 (Reuters) – Ford Motor Co’s
operating earnings for the second quarter beat Wall Street
expectations as better-than-expected profit in North America and
Europe countered weaker results in Asia Pacific and South
America.

Ford’s Chief Financial Officer Bob Shanks said lower costs
helped boost the company’s pretax profit in North America to a
record $2.44 billion. Nine analysts surveyed by Reuters expected
a pretax profit of $2.04 billion.

Jul 17, 2014

AutoNation profit misses expectations, shares drop

DETROIT (Reuters) – Shares of AutoNation Inc (AN.N: Quote, Profile, Research, Stock Buzz), the largest U.S. auto dealer group, fell as much as 8 percent on Thursday after its earnings missed analysts’ expectations.

Analyst Joseph Amaturo of the Buckingham Research Group said he was “unimpressed” with AutoNation’s results and that the company was not expanding its share of the U.S. new-vehicle market.