Bernie's Feed
Apr 30, 2015

Could spend $3 billion on software buy in 2015: Delphi Automotive CEO

DETROIT (Reuters) – Delphi Automotive Plc (DLPH.N: Quote, Profile, Research, Stock Buzz) Chief Executive Kevin Clark said that the company will likely spend $1 billion to $3 billion this year on a large acquisition related to software to enhance vehicle connectivity.

Clark said in a Thursday interview with Reuters after the company issued first-quarter earnings that “there is a funnel of some larger transactions,” in the range of $1 billion to about $3 billion.

Apr 30, 2015

Delphi Automotive CEO-Could spend $3 bln on software buy in 2015

DETROIT, April 30 (Reuters) – Delphi Automotive Plc
Chief Executive Kevin Clark said that the company will likely
spend $1 billion to $3 billion this year on a large acquisition
related to software to enhance vehicle connectivity.

Clark said in a Thursday interview with Reuters after the
company issued first-quarter earnings that “there is a funnel of
some larger transactions,” in the range of $1 billion to about
$3 billion.

Apr 29, 2015

Fiat Chrysler pushes to boost margins as CEO pitches for a deal

MILAN/DETROIT, April 29 (Reuters) – Fiat Chrysler
Automobiles Chief Executive Sergio Marchionne
on Wednesday made a plea for shrinking the number of players in
the global auto industry as the company reported
lower-than-expected first quarter results and outlined new plans
to boost North American profit margins.

Marchionne delivered a detailed presentation during a
2-1/2-hour call with analysts to argue that “largescale
integrations are required” in the auto industry to sustain the
heavy capital investments needed to meet demands for cleaner,
safer vehicles.

Apr 29, 2015

Ford first-quarter profit misses expectations, 2015 profit outlook affirmed

By Bernie Woodall and Ben Klayman

DEARBORN, Mich. (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research) reported a first-quarter profit that was less than analysts expected, selling fewer vehicles in North America as it worked to increase production of the redesigned F-150 pickup truck, and losing money in South America.

The No. 2 U.S. automaker on Tuesday also maintained its full-year forecast of pretax profit between $8.5 billion and $9.5 billion.

Apr 28, 2015

Detroit automakers rely on U.S. truck sales for global profits

DETROIT (Reuters) – Detroit automakers have come full circle, relying as they did before the financial crisis on profits from selling trucks and sport utility vehicles in the United States to cover losses overseas.

That’s the profit formula Detroit was supposed to move beyond after the financial crisis, gas price shocks and the federal bailouts of General Motors and Chrysler. Ford Motor Co’s (F.N: Quote, Profile, Research, Stock Buzz) first-quarter results on Tuesday highlight how reliant the Detroit Three have become once again on their biggest, least- fuel-efficient models.

Apr 28, 2015

Ford 1st-qtr profit misses expectations, 2015 profit outlook affirmed

By Bernie Woodall and Ben Klayman

DEARBORN, Mich. (Reuters) – Ford Motor Co reported a first-quarter profit that was less than analysts expected, selling fewer vehicles in North America as it worked to increase production of the redesigned F-150 pickup truck, and losing money in South America.

The No. 2 U.S. automaker on Tuesday also maintained its full-year forecast of pretax profit between $8.5 billion and $9.5 billion.

Apr 28, 2015

Ford profit misses expectations, 2015 profit outlook affirmed

By Bernie Woodall and Ben Klayman

DEARBORN, Mich. (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) on Tuesday reported a profit that was less than analysts expected, selling fewer vehicles in North America as it worked to increase production of the redesigned F-150 pickup truck and losing money in South America.

The No. 2 U.S. automaker maintained its full-year forecast of pre-tax profit of between $8.5 billion and $9.5 billion.

Apr 24, 2015

GM CEO Barra received $16.2 million in 2014 compensation

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) Chief Executive Officer Mary Barra, who last year became the first woman to lead a major U.S. automaker, received $16.2 million in 2014 compensation, up 78 percent from her predecessor’s total the previous year.

Most of Barra’s compensation is tied to stock awards that she cannot cash in yet. She received $4.55 million in salary and other liquid compensation for 2014, GM said in a proxy filed on Friday with the U.S. Securities and Exchange Commission.

Apr 23, 2015

GM first-quarter profit misses estimates on South America, Russia weakness

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research) posted a smaller-than-expected quarterly profit on Thursday as weakness in South America and Russia hurt demand and the company’s tax rate was higher than expected, sending shares down 4 percent.

“Clearly the macro environment in South America, and it’s primarily Brazil, deteriorated versus even where we thought it was going to be,” Chief Financial Officer Chuck Stevens told reporters at the company’s Detroit headquarters.

Apr 23, 2015

GM first-quarter profit disappoints on South American weakness

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) posted a smaller-than-expected quarterly profit on Thursday as weakness in South America and Russia hurt demand and the company’s tax rate was higher than expected, sending shares down 3 percent.

“Clearly the macro environment in South America, and it’s primarily Brazil, deteriorated versus even where we thought it was going to be,” Chief Financial Officer Chuck Stevens told reporters at the company’s Detroit headquarters.