Ford Inside News banner

1 - 8 of 8 Posts

·
Registered
Joined
·
2,900 Posts
Discussion Starter #1
General Motors Turns to Profit Despite Falling Revenue
SAN FRANCISCO (MarketWatch) -- General Motors Corp. shares rose Tuesday after the Detroit giant said it reversed its second-quarter loss from a year ago with all four of its global automotive segments, including the key North America market, posting profits.
The Dow Jones Industrial Average component's shares rose more than 6% in early trading and were last up about 94 cents, or 3%, at $33.57. The stock has traded in the range of $28.49 to $38.66 during the last year.
"GM still has a long road ahead in terms of the turnaround, but this earnings report is further evidence that the plan is working," said Mainstay Capital Management's David Kudla, an asset manager who handles more than $500 million for thousands of auto employees and retirees.
GM said it swung to a profit last quarter of $891 million, or $1.56 a share, from a loss of $3.4 billion, or $5.98 a share, a year ago.

For Complete Story Click HERE
 

·
Registered
Joined
·
4,679 Posts
I am glad that the "remaining two" surprised analysts this second quarter. Now, why are analysts surprised? I guess that their analysis capabilities should be questioned as much as they question the capabilities of Ford and GM to churn a profit.
 

·
Registered
Joined
·
1,028 Posts
I dunno.

If GM wasn't in the North American Market at all, its report would be even better.

With the summer production shut-down and all the incentives necessary to move '07's I don't think the picture will be very nice 90 days from today.
 

·
Registered
Joined
·
2,900 Posts
Discussion Starter #4
These profits that Ford and GM are posting could not have come at a worse time. It will complicate their UAW talks
 

·
Registered
Joined
·
2,900 Posts
Discussion Starter #7
From a previous 3.2 bil loss to a 0.8 bil profit, that is a net positive difference of 4 bil. Sounds like a lot to me, and certainly enuff to change their plans.
that is prior year Q to Q comparison, not current year Q as in 2007 1st Q Vs 2007 2nd Q
 
1 - 8 of 8 Posts
Top