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Aug 1, 2011

Auto industry could lead U.S. economic recovery: survey

DETROIT (Reuters) – The auto industry could lead an economic recovery in the United States, according to a recent survey by audit, tax and advisory firm KPMG.

Auto executives plan to do more hiring and more capital spending than executives in any other sector in the next year, according to the survey.

Jul 29, 2011

American Axle profit beats Street, raises outlook

DETROIT (Reuters) – American Axle and Manufacturing Holdings Inc (AXL.N: Quote, Profile, Research, Stock Buzz) posted higher-than-expected quarterly earnings and raised its full-year forecast due to increased demand from its automaker customers, sending its shares up more than 10 percent.

The company, the latest auto parts maker to beat Wall Street forecasts, said it was benefiting from increased production by automakers and improvements in capacity utilization and fixed costs.

Jul 28, 2011

U.S. July auto sales to start recovery

DETROIT, July 28 (Reuters) – U.S. July auto sales should
show an improvement from the past two months as the industry
recovers from supply chain disruptions in Japan, but it could
be a long time before the industry is fully back on track.

A March earthquake, tsunami and nuclear crisis in Japan
disrupted the supply of key auto parts and forced automakers to
idle plants and cut output. That resulted in fewer incentives
and higher prices for consumers, who failed to buy as many cars
in May and June as economists predicted. [ID:nN1E75T1C7]

Jul 27, 2011

Visteon CEO hints at breakup but mum on details

DETROIT, July 27 (Reuters) – The chief executive officer of
auto parts supplier Visteon Corp (VC.N: Quote, Profile, Research, Stock Buzz) hinted at plans to
break up the company on Wednesday, but declined to give
details, saying disclosure would hurt any potential deal.

“As we look out over a three-year horizon … I would be
surprised if the product portfolio is the same as it is today,”
CEO Don Stebbins said during the question and answer period of
the company’s investor day.

Jul 22, 2011

U.S automakers wary as economy stuck in slow gear

DETROIT (Reuters) – Each month, a dozen executives of General Motors Co gather on the 39th floor of their Detroit headquarters to survey the auto industry, the U.S. economy and how they will meet demand from customers.

Recently, the view has not been impressive.

With the economy still struggling to regain momentum after the financial crisis of 2007-09 and 14 million Americans out of work, the planners at GM and a host of corporations across America are in no rush to make big new investments to ramp up output and hiring.

Jul 22, 2011

Analysis: Automakers wary as economy stuck in slow gear

DETROIT (Reuters) – Each month, a dozen executives of General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) gather on the 39th floor of their Detroit headquarters to survey the auto industry, the U.S. economy and how they will meet demand from customers.

Recently, the view has not been impressive.

With the economy still struggling to regain momentum after the financial crisis of 2007-09 and 14 million Americans out of work, the planners at GM and a host of corporations across America are in no rush to make big new investments to ramp up output and hiring.

Jul 20, 2011

Johnson Controls building unit weak; stock falls

DETROIT (Reuters) – Johnson Controls Inc’s (JCI.N: Quote, Profile, Research, Stock Buzz) building heating and cooling systems business fell short of expectations in the third quarter, raising questions about the company’s immediate growth prospects.

The company’s overall profit beat quarterly profit expectations due to a fast recovery from the impact of the Japan earthquake in March and higher auto production levels in some markets, but its shares fell 4 percent in early trading on Wednesday.

Jul 19, 2011

BATS likely to delay U.S. public offering: sources

NEW YORK/DETROIT (Reuters) – BATS Global Markets will probably delay its initial public offering until early next year as the U.S.-based exchange operator waits to seal its planned takeover of Chi-X Europe, according to two people familiar with the plan.

The fast-growing company, which runs U.S. and European stock-trading venues and is owned by some of the world’s largest banks, had hoped to go public around October.

Jul 10, 2011

Toys R Us IPO slow going; now seen in 2012

NEW YORK, July 8 (Reuters) – Selling Barbie dolls and Hot
Wheels to children may prove far easier than hawking Toys R Us
[TOY.UL] to investors.

The New Jersey-based company behind the iconic dolls and
model cars filed its IPO paperwork in May 2010, but is now not
expected to go public until 2012, two sources told Reuters.

Jul 8, 2011

IPO view: Toys R Us IPO taking shape slowly, now seen in 2012

NEW YORK (Reuters) – Selling Barbie dolls and Hot Wheels to children may prove far easier than hawking Toys R Us TOY.UL to investors.

The New Jersey-based company behind the iconic dolls and model cars filed its IPO paperwork in May 2010 but is now not expected to go public until 2012, two sources told Reuters.

    • About Clare

      "I am based in New York and write about IPOs and wealth management. I was formerly based in San Francisco, where I wrote about tech companies."
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