|Bid||35.50 x 900|
|Ask||35.60 x 4000|
|Day's range||35.44 - 35.76|
|52-week range||31.46 - 41.90|
|Beta (3Y monthly)||1.39|
|PE ratio (TTM)||5.79|
|Earnings date||5 Feb 2020|
|Forward dividend & yield||1.52 (4.30%)|
|1y target est||47.33|
General Motors is teaming up with South Korea's LG Chem to build an electric vehicle battery factory in Ohio - which would be one of the biggest battery building facilities in the world. Plans for the joint venture were announced Thursday. The two companies will pile in more than $2 billion combined to set up the unit, which will be built near the site of a shuttered GM plant in Lordstown, Ohio. This joint venture is expected to put more than 1100 people to work. Sources familiar with the plan said those employees would likely be part of the United Auto Workers union, which would make this the first unionized battery factory in the United States. GM has come under fire from President Trump for closing factories and shedding jobs. And Democratic presidential candidates joined the picket line with union workers who went on strike demanding better wages and angry about the use of lower-paid contract employees. Like most automakers, GM is looking to bolster sales by investing heavily in electric vehicles and newer self-driving technologies. Construction is set to begin the middle of next year.
U.S. job growth increased by the most in 10 months in November as former striking workers returned to General Motors' GM.N payrolls and the healthcare industry boosted hiring, the strongest sign yet the economy was not in danger of stalling. The Labor Department's closely watched monthly employment report on Friday also showed steady wage gains and the unemployment rate falling back to 3.5%, suggesting consumers will continue to drive the longest economic expansion in history, now in its 11th year. U.S. central bank policymakers are expected to highlight the economy's resilience when they meet on Dec. 10-11, though trade tensions continue to reverberate in the background.
Investing.com -- It's payrolls day, and hiring in the U.S. economy is expected to have rebounded in November from October's dip due to the end of the strike at General Motors (NYSE:GM). Elsewhere, OPEC and its allies are set to sign off on a largely symbolic cut in output through March 2021, while Saudi Aramco is now the world's most valuable company after completing its $25.6 billion IPO. Here's what you need to know in financial markets on Friday, 6th December.
U.S. job growth likely accelerated in November as former striking workers returned to General Motors' payrolls, which would confirm that the economy remained on a moderate expansion path despite a prolonged manufacturing slump. The Labor Department's closely watched monthly employment report on Friday is also expected to show steady wage gains and the unemployment rate holding near a 50-year low.
The US economy added 266,000 jobs in November, surpassing analyst estimates by a wide margin and demonstrating the continued strength of the US labour market. Hourly earnings increased 3.1 per cent over the past year, also beating estimates of a 3 per cent gain. “The fact that the labour market hasn’t slowed, I mean, really, that’s amazing — given all the worry we’ve had, all the recession talk,” said Ethan Harris, head of global economics research for Bank of America Merrill Lynch.
General Motors Co and South Korea's LG Chem said on Thursday they will invest $2.3 billion (£1.79 billion) to build an electric vehicle battery cell joint venture plant in Ohio, creating one of the world's largest battery facilities. The plant, to be built near GM's closed assembly plant in Lordstown in northeast Ohio, will employ more than 1,100 people, the companies said.
General Motors and South Korea’s LG Chem plan to invest a combined $2.3bn in a joint venture to build a new battery plant in the US, as the automaker prepares to ramp up production of electric vehicles. The companies announced on Thursday they will break ground in the middle of next year in the Lordstown area in north-east Ohio, near the location of a vehicle assembly plant GM has idled. The equally-owned venture also calls for the group to jointly develop new battery technologies with the goal of cutting costs.
Wall Street is expecting a rebound in Friday’s payrolls report, even with Wednesday’s weaker-than-expected ADP private payroll figures.
Fiat (FCAU) commits an investment of $9 billion, boosting the $50-billion merger plans of Fiat and PSA to create the world's fourth largest automaker.
Japan-based automakers are yet to grab global headlines when it comes to driverless cars but they are eyeing 2020 Olympics to promote several self-driving cars and catch attention.
Fiat Chrysler Automobiles NV and the United Auto Workers (UAW) union on Saturday announced a tentative agreement for a four-year labor contract, a boost for the automaker as it works to merge with France's Groupe PSA. Italian-American Fiat Chrysler and PSA, the maker of Peugeot and Citroen, last month announced a planned $50 billion merger to create the world's fourth-largest automaker. The tentative agreement with Fiat Chrysler, which is subject to ratification by the union members, follows contracts that the UAW already concluded with Ford Motor Co and General Motors Co.
While Tesla's (TSLA) Cybertruck is getting enough attention with more than 250,000 pre-orders till now, General Motors (GM) files a federal racketeering lawsuit against Fiat Chrysler.
Tenneco (TEN) forecasts a decline in light-vehicle production and a slight deceleration in commercial vehicle markets, which are likely to negatively affect the upcoming results.
Spartan Motors, Occidental, Tesla, Ford and General Motors highlighted as Zacks Bull and Bear of the Day