GM stock up almost a $1- coincides with Camaro
Thread Starter
Registered User
Joined: Dec 1969
Posts: 1,911
From: Southern California (SoCal)
GM stock up almost a $1- coincides with Camaro
Maybe the new Camaro Concept gave GM a little (much needed) excitement to help give the stock a nudge up on the upside.
Regardless, its goodnews anyway you cut it and today is great day!!!!!!!!!!!!!!!!!!!!!!
http://money.cnn.com/quote/quote.html?symb=GM
Regardless, its goodnews anyway you cut it and today is great day!!!!!!!!!!!!!!!!!!!!!!
http://money.cnn.com/quote/quote.html?symb=GM
Registered User
Joined: Jul 1999
Posts: 2,072
From: Lilburn, GA, USA
Re: GM stock up almost a $1- coincides with Camaro
Originally Posted by johnsocal
Maybe the new Camaro Concept gave GM a little (much needed) excitement to help give the stock a nudge up on the upside.
Regardless, its goodnews anyway you cut it and today is great day!!!!!!!!!!!!!!!!!!!!!!
http://money.cnn.com/quote/quote.html?symb=GM
Regardless, its goodnews anyway you cut it and today is great day!!!!!!!!!!!!!!!!!!!!!!
http://money.cnn.com/quote/quote.html?symb=GM
Nope. It has to do with the upgrading of GM stock.
Thread Starter
Registered User
Joined: Dec 1969
Posts: 1,911
From: Southern California (SoCal)
Re: GM stock up almost a $1- coincides with Camaro
Originally Posted by SNEAKY NEIL
Nope. It has to do with the upgrading of GM stock.
Trust me, I realize there needs to be more the a concept boost a stock, but lets just say that it didn't hurt
Registered User
Joined: Jul 1999
Posts: 2,072
From: Lilburn, GA, USA
Re: GM stock up almost a $1- coincides with Camaro
Originally Posted by johnsocal
True, but if look at the chart you can see it having a 'spike' during the Camaro unveiling.
Registered User
Joined: Aug 1999
Posts: 2,610
From: Cincinnati, OH
Re: GM stock up almost a $1- coincides with Camaro
GM rallies on Goldman Sachs upgrade
SAN FRANCISCO (MarketWatch) - General Motors Corp. rallied as much as 4% early Monday after Goldman Sachs said the struggling giant does not face an imminent bankruptcy and is, in fact, likely to see its share price keep pace with its peers in the first half of 2006.
The research note from analyst Robert Barry, which raised GM to in line from underperform, was based primarily on valuation following its steep decline over the past few months.
GM shares advanced at a blistering pace, touching $21.84 in the first hour of trade, a sharp reversal from the 23-year low of $18.33 it hit in late December, crushed by mounting concerns over its deteriorating sales and weakened financial position.
That trend, and sales of positions by such high-profile investors as billionaire Kirk Kerkorian, has raised speculation that the No. 1 U.S. car maker might be headed for bankruptcy.
Not so, according to Barry - at least not in the near term.
"Our long-term view of GM fundamentals remains squarely negative, due to severe revenue and cost pressures related to ongoing share loss and onerous labor-related costs. But with GM shares off 50% from '05 highs, our view is that a Chapter 11 filing is very unlikely any time soon," he said in a note to clients.
Factors keeping bankruptcy at arms length include GM's huge liquid assets and the heavy toll a bankruptcy filing would take on GM's future share price, which he said rules out Chapter 11 as an option for the company.
Barry said it appears increasingly likely that GM will pull off a partial sale of its lucrative GMAC unit while a strike will likely be averted at already-bankrupt Delphi Corp., its main parts supplier.
At the same time, the company is poised to hand in improved earnings in the fourth quarter of 2005 and first half of 2006, he said.
"Nearer-term, we see a minor sentiment boost from GM's presentation at the Detroit Auto Show later this week. We expect that, at the very least, management will cast the most favorable light possible on GM's current operating situation," Barry said. See full story.
Added together, the company's share price is poised to rebound to the mid-$20s range in the first half of 2006, he said.
But that doesn't mean the company is off the hook, or that bankruptcy can be averted.
"We have long painted a negative picture of GM's fundamental outlook, which we continue to hold," Barry said.
http://www.marketwatch.com/news/yhoo...07CC3D8727F%7D
SAN FRANCISCO (MarketWatch) - General Motors Corp. rallied as much as 4% early Monday after Goldman Sachs said the struggling giant does not face an imminent bankruptcy and is, in fact, likely to see its share price keep pace with its peers in the first half of 2006.
The research note from analyst Robert Barry, which raised GM to in line from underperform, was based primarily on valuation following its steep decline over the past few months.
GM shares advanced at a blistering pace, touching $21.84 in the first hour of trade, a sharp reversal from the 23-year low of $18.33 it hit in late December, crushed by mounting concerns over its deteriorating sales and weakened financial position.
That trend, and sales of positions by such high-profile investors as billionaire Kirk Kerkorian, has raised speculation that the No. 1 U.S. car maker might be headed for bankruptcy.
Not so, according to Barry - at least not in the near term.
"Our long-term view of GM fundamentals remains squarely negative, due to severe revenue and cost pressures related to ongoing share loss and onerous labor-related costs. But with GM shares off 50% from '05 highs, our view is that a Chapter 11 filing is very unlikely any time soon," he said in a note to clients.
Factors keeping bankruptcy at arms length include GM's huge liquid assets and the heavy toll a bankruptcy filing would take on GM's future share price, which he said rules out Chapter 11 as an option for the company.
Barry said it appears increasingly likely that GM will pull off a partial sale of its lucrative GMAC unit while a strike will likely be averted at already-bankrupt Delphi Corp., its main parts supplier.
At the same time, the company is poised to hand in improved earnings in the fourth quarter of 2005 and first half of 2006, he said.
"Nearer-term, we see a minor sentiment boost from GM's presentation at the Detroit Auto Show later this week. We expect that, at the very least, management will cast the most favorable light possible on GM's current operating situation," Barry said. See full story.
Added together, the company's share price is poised to rebound to the mid-$20s range in the first half of 2006, he said.
But that doesn't mean the company is off the hook, or that bankruptcy can be averted.
"We have long painted a negative picture of GM's fundamental outlook, which we continue to hold," Barry said.
http://www.marketwatch.com/news/yhoo...07CC3D8727F%7D
Registered User
Joined: Mar 2005
Posts: 12,312
From: Aurora, IL
Re: GM stock up almost a $1- coincides with Camaro
Coincidence maybe, but good news definitely. But my question then is if the concept did help boost the stock, then did Chrysler stock go up as well with the unveiling of the Challenger?
Registered User
Joined: Sep 2003
Posts: 2,370
From: Germany
Re: GM stock up almost a $1- coincides with Camaro
Originally Posted by johnsocal
Maybe the new Camaro Concept gave GM a little (much needed) excitement to help give the stock a nudge up on the upside.
Regardless, its goodnews anyway you cut it and today is great day!!!!!!!!!!!!!!!!!!!!!!
http://money.cnn.com/quote/quote.html?symb=GM
Regardless, its goodnews anyway you cut it and today is great day!!!!!!!!!!!!!!!!!!!!!!
http://money.cnn.com/quote/quote.html?symb=GM
Registered User
Joined: Mar 2005
Posts: 3,123
From: Melbourne, Australia
Re: GM stock up almost a $1- coincides with Camaro
Maybe the Enclave made a bit of an impact... the Wall Street analysts who normally drive Lexus might be contemplating a future upgrade to Buick. 
Registered User
Joined: Mar 2001
Posts: 13,713
From: The Golden State
Re: GM stock up almost a $1- coincides with Camaro
Originally Posted by johnsocal
Maybe the new Camaro Concept gave GM a little (much needed) excitement to help give the stock a nudge up on the upside.
Regardless, its goodnews anyway you cut it and today is great day!!!!!!!!!!!!!!!!!!!!!!
http://money.cnn.com/quote/quote.html?symb=GM
Regardless, its goodnews anyway you cut it and today is great day!!!!!!!!!!!!!!!!!!!!!!
http://money.cnn.com/quote/quote.html?symb=GM
News like this has a tendency of affecting a car company's stocks.
Thread Starter
Registered User
Joined: Dec 1969
Posts: 1,911
From: Southern California (SoCal)
Re: GM stock up almost a $1- coincides with Camaro
Originally Posted by guionM
More likely it was the fact that GM announced today that their largest division, Chevrolet (which accounts for something like 70%+ of GM's total sales volume), became the best selling brand in the US for the 1st time in 19 years.
News like this has a tendency of affecting a car company's stocks.
News like this has a tendency of affecting a car company's stocks.
and if Lutz did some donuts on stage GM's stock would have skyrocket $10. In reality it was a great day for Camaro fans and GM, and GM's surge helped the Dow close over 11,000 for the first time since 2002.
Last edited by johnsocal; Jan 9, 2006 at 09:10 PM.
Registered User
Joined: Jul 1999
Posts: 2,072
From: Lilburn, GA, USA
Re: GM stock up almost a $1- coincides with Camaro
Originally Posted by johnsocal
if Lutz did some donuts on stage GM's stock would have skyrocket $10.
That would be a sight to see: Lutz beating the crap out of the car in front of everyone.
Registered User
Joined: Sep 2003
Posts: 2,370
From: Germany
Re: GM stock up almost a $1- coincides with Camaro
Originally Posted by johnsocal
No, I think it was based on the new camaro. In fact if they brought it out in hugger orange GM's stock would have gone $3 and if Lutz did some donuts on stage GM's stock would have skyrocket $10.
In reality it was a great day for the Camaro fans and GM, and GM's surge helped the Dow close over 11,000 for the first time since 2002.
and if Lutz did some donuts on stage GM's stock would have skyrocket $10.In reality it was a great day for the Camaro fans and GM, and GM's surge helped the Dow close over 11,000 for the first time since 2002.
Rally on! For the first time since June 7, 2001, the Dow Jones Industrial Average closed above 11,000.
Better yet, if you're a bull, the Dow has been rising pretty steadily since Oct. 21. So have the other major averages. The Dow closed up more than 52 points today to 11,011.90. The Standard & Poor's 500 Index was up 4.6 points, and the Nasdaq Composite, which has led the market so far this year, was up another 13.1 points.
"A strong close today is going to be suggestive of a strong year," said Joseph McAlinden, chief investment officer at Morgan Stanley Investment Management, on CNBC's "Street Signs." He expects the Dow to clear 12,000 this year, which would eclipse the Dow's all-time high close of 11,722.98 on Jan. 14, 2000.
While the Dow is up, its performance in the last year or so has lagged just about all major averages. It is still about 6% below that all-time high. The Nasdaq and S&P 500 both hit five-year highs today, and such indexes as the Amex Disk Drive Index ($DDX.X, news, msgs) and the Amex Biotechnology Index ($BTK.X, news, msgs) hit all-time highs.
How long can this run-up last? No rally goes on forever, so expect the market to pull back before long. The market could be pressured tomorrow because of weaker-than-expected results from Dow component Alcoa (AA, news, msgs). Alcoa's shares were down more than 3% in after-hours trading.
The Dow crossed the psychologically-important level at 1:11 p.m. before falling back a bit. It re-crossed at 1:20 p.m. and fell back again. Then, traders began pushing the average higher, starting at about 3:30 p.m.
The Dow has made several runs at the 11,000 level in the last year -- coming within four points of that mark in March -- but always has fallen back before clearing that hurdle. While 11,000 is purely a psychological barrier, some analysts believe finally topping 11,000 will clear the way for stocks to continue their rally.
GM provides the gas
The big push on the Dow came from General Motors (GM, news, msgs), which, as UBS Financial Services' Art Cashin noted, finally found a friend in the world. The friend is Goldman Sachs, a good friend to have. Goldman raised its rating on the stock from underperform to "in line" in part because the investment house thinks the odds of a bankruptcy are remote.
GM was up $1.61 or 7.74% at $22.41. It also generated a fair amount of excitement at the big auto show in Detroit today when it showed off a concept version of a new Camaro sports car. Automakers generally were higher. Ford Motor Co. (F, news, msgs) was up 1.17%. DaimlerChrysler (DCX, news, msgs) added 1.4%. Toyota (TM, news, msgs), Honda (HMC, news, msgs) and Nissan (NSANY, news, msgs) also were higher.
Two more factors were pushing the market:
Lower oil and natural-gas prices. Crude oil closed at $63.50 a barrel, down 71 cents from Friday, thanks to mild winter weather. Natural gas fell 27 cents per million British thermal units to $9.36, a decline of 2.82%. So far in 2006, natural gas is down 16.6%.
The Federal Reserve. The Fed, as the markets know, has been signaling that its current round of interest-rate increases is nearly done. The Fed's Federal Open Market Committee is expected to raise short-term rates on Jan. 31 and possibly once more. Jack Guynn, president of the Federal Reserve Bank of Atlanta, told reporters today he was happy with market predictions for future Fed interest-rate action but warned he was also alert to potential inflation risks.
Interest rates were generally unchanged today. The 10-year Treasury note was yielding 4.38%, unchanged from Friday. The dollar was up against the pound and euro but down against the yen.
Winners and losers since 2000 and 2002
The Dow fell nearly 38% from its all-time high of 11,722.98 in early 2000 to 7,286.27 on Oct. 9, 2002. CNBC's Erin Burnett and Bob O'Brien took a look at what's happened to the components since that Jan. 14, 2000 high and the Oct. 9, 2002 lows.
The results are interesting. Only one third of the stocks now in the Dow are now trading above their closes on Jan. 14, 2000. The big winner is Altria Group (MO, news, msgs), up 214%. The loser: General Motors, down 72%. The drug stocks and two high flyers from the 1990s -- Microsoft (MSFT, news, msgs) and Intel (INTC, news, msgs) -- are among the losers:
Better yet, if you're a bull, the Dow has been rising pretty steadily since Oct. 21. So have the other major averages. The Dow closed up more than 52 points today to 11,011.90. The Standard & Poor's 500 Index was up 4.6 points, and the Nasdaq Composite, which has led the market so far this year, was up another 13.1 points.
"A strong close today is going to be suggestive of a strong year," said Joseph McAlinden, chief investment officer at Morgan Stanley Investment Management, on CNBC's "Street Signs." He expects the Dow to clear 12,000 this year, which would eclipse the Dow's all-time high close of 11,722.98 on Jan. 14, 2000.
While the Dow is up, its performance in the last year or so has lagged just about all major averages. It is still about 6% below that all-time high. The Nasdaq and S&P 500 both hit five-year highs today, and such indexes as the Amex Disk Drive Index ($DDX.X, news, msgs) and the Amex Biotechnology Index ($BTK.X, news, msgs) hit all-time highs.
How long can this run-up last? No rally goes on forever, so expect the market to pull back before long. The market could be pressured tomorrow because of weaker-than-expected results from Dow component Alcoa (AA, news, msgs). Alcoa's shares were down more than 3% in after-hours trading.
The Dow crossed the psychologically-important level at 1:11 p.m. before falling back a bit. It re-crossed at 1:20 p.m. and fell back again. Then, traders began pushing the average higher, starting at about 3:30 p.m.
The Dow has made several runs at the 11,000 level in the last year -- coming within four points of that mark in March -- but always has fallen back before clearing that hurdle. While 11,000 is purely a psychological barrier, some analysts believe finally topping 11,000 will clear the way for stocks to continue their rally.
GM provides the gas
The big push on the Dow came from General Motors (GM, news, msgs), which, as UBS Financial Services' Art Cashin noted, finally found a friend in the world. The friend is Goldman Sachs, a good friend to have. Goldman raised its rating on the stock from underperform to "in line" in part because the investment house thinks the odds of a bankruptcy are remote.
GM was up $1.61 or 7.74% at $22.41. It also generated a fair amount of excitement at the big auto show in Detroit today when it showed off a concept version of a new Camaro sports car. Automakers generally were higher. Ford Motor Co. (F, news, msgs) was up 1.17%. DaimlerChrysler (DCX, news, msgs) added 1.4%. Toyota (TM, news, msgs), Honda (HMC, news, msgs) and Nissan (NSANY, news, msgs) also were higher.
Two more factors were pushing the market:
Lower oil and natural-gas prices. Crude oil closed at $63.50 a barrel, down 71 cents from Friday, thanks to mild winter weather. Natural gas fell 27 cents per million British thermal units to $9.36, a decline of 2.82%. So far in 2006, natural gas is down 16.6%.
The Federal Reserve. The Fed, as the markets know, has been signaling that its current round of interest-rate increases is nearly done. The Fed's Federal Open Market Committee is expected to raise short-term rates on Jan. 31 and possibly once more. Jack Guynn, president of the Federal Reserve Bank of Atlanta, told reporters today he was happy with market predictions for future Fed interest-rate action but warned he was also alert to potential inflation risks.
Interest rates were generally unchanged today. The 10-year Treasury note was yielding 4.38%, unchanged from Friday. The dollar was up against the pound and euro but down against the yen.
Winners and losers since 2000 and 2002
The Dow fell nearly 38% from its all-time high of 11,722.98 in early 2000 to 7,286.27 on Oct. 9, 2002. CNBC's Erin Burnett and Bob O'Brien took a look at what's happened to the components since that Jan. 14, 2000 high and the Oct. 9, 2002 lows.
The results are interesting. Only one third of the stocks now in the Dow are now trading above their closes on Jan. 14, 2000. The big winner is Altria Group (MO, news, msgs), up 214%. The loser: General Motors, down 72%. The drug stocks and two high flyers from the 1990s -- Microsoft (MSFT, news, msgs) and Intel (INTC, news, msgs) -- are among the losers: