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Earnings highlights: Baidu, Dreamworks, Honda, Microsoft, Target, Verizon ...

Here are some highlights from last week's earnings coverage from BloggingStocks:

Continue reading Earnings highlights: Baidu, Dreamworks, Honda, Microsoft, Target, Verizon ...

Daimler, Honda slump following earnings reports

Tuesday, Daimler AG (NYSE: DAI) reported that it returned to profitability in the third quarter of 2009, and Honda Motor Co. Ltd. (NYSE: HMC) posted much lower fiscal second quarter earnings, but which were better than the loss the company had earlier expected.

In line with previously released preliminary results, Daimler posted a net profit of 56 million euros ($83.2 million), or 0.04 euros per share, down from 213 million euros ($316.5 million) in the same quarter of 2008. And it said revenue fell to 19.3 billion euros ($28.7 billion) from 24.5 billion ($36.4 billion) a year ago. The slump in sales was most substantial in its Daimler Trucks and Mercedes-Benz Vans units.

Continue reading Daimler, Honda slump following earnings reports

General Motors comes to dealers rescue

General Motors Cash for ClunkersAs we noted yesterday, a lot of auto dealers have decided to pull out of the popular "cash for clunkers" program. This comes as a result of lack of payment by the government, and today General Motors said that it will start to advance dealers the cash that they are due from the government related to the program.

Today's announcement by General Motors marks a change in company policy, which had earlier stated that it was not in a position to come to the aid of its dealers.

Continue reading General Motors comes to dealers rescue

Honda: No battery-powered cars for us; we'll use hydrogen

Honda Motor Co. (NYSE: HMC) won't be lining up to produce electric-powered automobiles any time soon. That is, the Japanese automaker is running after hydrogen fuel-cell technology instead of battery-powered electric propulsion technology, which is the mainstay of current hybrid vehicles and upcoming all-electric vehicles.

Honda's fuel-cell development chief, Takashi Moriya, said that "Fuel-cell cars will become necessary ... we're positioning it as the ultimate zero-emission car." Why is Honda pursuing fuel-cell technology instead of electric motor technology? Does Honda believe battery technology won't ever satisfy the ever-growing demand for completely gasoline-free engine designs in the next decade? Possibly. Right now, a major drawback to electric vehicles is battery longevity and cost.

Continue reading Honda: No battery-powered cars for us; we'll use hydrogen

Analyst upgrades, downgrades and initiations: CLX, ED, JBHT, HMC, PCG ...

Analyst upgrades:
  • Deutsche Bank upgraded Spartech (NYSE: SEH) to Buy from Hold as it sees further upside following the company's "strong" Q2 results. The firm raised its target on shares to $10 from $2.50.
  • Oppenheimer upgraded Clorox (NYSE: CLX) to Outperform from Underperform. The firm believes the company's FY10 outlook is conservative, providing room for upside, and that the valuation is compelling at current levels. Opco set a $70 price target on the stock.
  • Goldman upgraded Steel Dynamics (NASDAQ: STLD) to Buy from Neutral and raised its target to $20 from $16, citing reduced balance sheet concerns following the capital raise. Note that AK Steel (NYSE: AKS) was downgraded to Neutral from Buy.
  • PG&E (NYSE: PCG) was upgraded to Buy from Hold at Citigroup.
  • Pool Corp. (NASDAQ: POOL) was upgraded to Outperform from Market Perform at William Blair.
  • Liberty Property Trust (NYSE: LRY) was upgraded to Outperform from Market Perform at Wachovia.

Continue reading Analyst upgrades, downgrades and initiations: CLX, ED, JBHT, HMC, PCG ...

Comfort Zone Investing: Is Ford a buy?

Ford (NYSE: F) is the last of the "Big" Three standing on its own two feet. Chrysler and General Motors (OTC: GMGMQ) are on crutches supplied by the federal government. While they're both still upright, those crutches are mighty expensive (the government will own 60% of GM when it emerges from bankruptcy).

Speaking of bankruptcy, Chrysler is already on the other side and now a partner with Fiat. That was perhaps the fastest legal action ever seen. Usually bankruptcy takes between 18 months to two years before a new company emerges.

Continue reading Comfort Zone Investing: Is Ford a buy?

Honda to cut incentives as it forecasts rising demand in 2009

Every global automaker is facing sliding sales, employee layoffs and plant re-tooling in the midst of a massive and lasting shift in consumer buying habits (especially in the United States). Honda Motor Co. (NYSE: HMC) -- while not hurting as much as American domestic manufacturers -- has seen drops in year-over-year auto sales. Still, the Japanese automaker will be lowering purchasing incentives as it believes there is a recovery coming soon to its sales.

Continue reading Honda to cut incentives as it forecasts rising demand in 2009

Chrysler announces major dealership closings

At the end of last month, American auto maker Chrysler announced that it was entering into Chapter 11 bankruptcy, and now we are starting to hear reports of plans to close a large amount of dealerships next month.

In all, Chrysler has decided to eliminate 789 out of its 3,200 dealerships that it says are just not pulling their weight in terms of sales. The company stated that its network of dealerships has become antiquated, and there currently exists too much competition between its dealerships.

Continue reading Chrysler announces major dealership closings

Toyota posts first annual loss in 59 years

Toyota 2009 LossGiving a clear indication of just how low demand for new autos has fallen, the world's largest car maker, Toyota (NYSE: TM) posted its first annual loss in 59 years this morning.

We all know that the auto industry is in major trouble. We have America's big three all fighting for their lives, and Chrysler has already been forced to file Chapter 11 bankruptcy.

Continue reading Toyota posts first annual loss in 59 years

Options Update: Honda, Toyota and Nissan volatility low

Honda (NYSE: HMC) closed at $25.90. HMC March 2009 U.S. sales decreased 36% compared to March 2008. HMC April option implied volatility of 51 is below its 26-week average of 62, according to Track Data, suggesting decreasing price movement.

Toyota Motor (NYSE: TM) closed at $67.90.TM March 2009 U.S. sales decreased 39% compared to March 2008. TM April option implied volatility is at 44, May is at 46; below its 26-week average of 57, according to Track Data, suggesting decreasing price movement.

Nissan (NASDAQ: NSANY) closed at $8. NSANY March 2009 U.S. sales decreased 37% compared to March 2008. May option implied volatility of 60 is below its 26-week average of 65, according to Track Data, suggesting decreasing price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Closing Bell: Pre-G20 rally caps worn at April Fool's party (GE, FITB, MMM, HMC, GOOG)

Today's rally came after dismal employment data, but less-bad manufacturing data actually came to rescue. You can always try to hold out hopes that Thursday's G-20 meeting is going to yield great results. There is a full primer on this G-20 meeting that may curb your expectations for what comes from the G-20 meeting. The vote on mark-to-market from FASB will be held tomorrow, and this is still expected to be a game-changer. Here are today's unofficial closing bell levels:

Dow 7,761.60 +152.68 (2.01%)
S&P 500 811.08 +13.21 (1.66%)
Nasdaq 1,551.60 +23.01 (1.51%)

Top Analyst Upgrades
Top Analyst Downgrades

Continue reading Closing Bell: Pre-G20 rally caps worn at April Fool's party (GE, FITB, MMM, HMC, GOOG)

Cramer on BloggingStocks: Don't need stocks? Don't own 'em

TheStreet.com's Jim Cramer says if you need money for anything important in the near future, get it out of the stock market.

Fall back. Fall back to basic principles. What do people have to do whether they want to do it or not? What do governments have to pay for whether they want something or not? What must be used whether you like it or not?

That's where we are right now in the helter-skelter pell-mell race to take all stocks to single digits as the notion of a worldwide global depression sinks in.

Continue reading Cramer on BloggingStocks: Don't need stocks? Don't own 'em

Honda Motor president bowing out

Honda steering wheelIn yet another bit of news from the automotive industry, Honda Motor Company (NYSE: HMC) president Takeo Fukui announced today that he will be stepping down from his post in June after six years with the second-largest Japanese automaker.

Fukui is passing the torch to Takanobu Ito, who currently serves as chief of automobile operations. The 64-year-old Fukui said, about passing the job to his 55-year-old successor, "It is very important to have a generational change in management every few years." It will be a challenging post for Ito, who assumes the reins as Honda and the overall auto industry face falling sales. The company is expecting an earnings loss of nearly 90% this year to $860 million (but at least they are still hoping to turn a profit).

Putting it mildly, it has been a turbulent time in the auto industry. Toyota Motor Corp. (NYSE: TM) replaced its president in January. Mazda announced changes in management in November. And Nissan president has delegated some of his responsibilities of late. Meanwhile, on American soil ... well, we all know the saga the Big-Three is facing.

Beth Gaston Moon works for WeSeed.com, "The stock market for the rest of us." The above comments are not intended as trading or investment advice.

Honda (HMC): Another car firm CEO waves 'goodbye'

The Japanese appear more willing to replace car companies CEOs as profits fall due to the troubled auto market. In the U.S., none of The Big Three has replaced its chief executive since the industry crisis began.

According to The Wall Street Journal, "Honda Motor Co (NYSE: HMC) said Monday that it appointed Takanobu Ito, a senior managing director, as new president and chief executive to replace Takeo Fukui." The departing CEO will get to stay on the board of directors. Just three weeks ago, Toyota (NYSE: TM) replaced its chief executive.

Continue reading Honda (HMC): Another car firm CEO waves 'goodbye'

Honda (HMC) may outrun the recession

No large car company is going to do well as the global recession deepens. But the one best positioned to move through the tough period is Honda (NYSE: HMC). It did not go through the global factory expansion that has stretched Toyota's (NYSE: TM) resources. It builds small, quality, fuel-efficient cars that have gained more and more market share in almost ever major country.

Results out of China say something about Honda's relative success. According toThe Wall Street Journal, "Chery Automobile Co., China's most successful independent producer and marketer of cars without a foreign partner, said January sales rose, and forecast a sales increase this year, while Honda Motor Co. said January car sales in China increased 17% from a year earlier." Total car sales dropped almost 8% in the world's most populous nation last month.

Continue reading Honda (HMC) may outrun the recession

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DJIA+17.4610,023.42
NASDAQ+7.122,112.44
S&P 500+2.671,069.30

Last updated: November 08, 2009: 05:13 PM

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