paologorgo
Chapter 11
Fitch gives a two-notch boost to the ratings of Ford Motor (F) and Ford Motor Credit, pointing to Q2 earnings ("strong automotive cash flow") and debt reduction that exceeded their expectations.
Obbligazioni societarie GM, Ford, Chrysler: il 3D dell'automotive USA (2 lettori)
- Creatore Discussione Imark
- Data di Inizio
Geller
Banned
Ally (ex-GMAC) presenta anche il 2Q 2010 positivo.
PR Newswire
NEW YORK, Aug. 3 2010
Ally Financial Inc. (Ally) today reported net income of $565 million for the second quarter of 2010, compared to a net loss of $3.9 billion for the second quarter of 2009. Core pre-tax income, which reflects income from continuing operations before taxes and original issue discount (OID) amortization expense from bond exchanges, totaled $738 million in the second quarter of 2010, compared to a core pre-tax loss of $1.3 billion in the comparable prior year period.
Core pre-tax income during the quarter was driven by higher net revenue, a lower loan loss provision and a lower noninterest expense compared to the second quarter of 2009. Results were also positively impacted by certain factors that may moderate over the coming quarters, including gains on the sale of auto loans under forward flow agreements, lease portfolio remarketing gains resulting from high used vehicle prices, legacy mortgage loan sale gains and gains from the insurance investment portfolio.
"Ally made substantial progress in the second quarter with all operating segments posting a profit," said Ally Chief Executive Officer Michael A. Carpenter. "Ally is a fundamentally stronger organization today than it was a year ago, and we are proud of our central role in the recovery of the U.S. auto industry. As a result of Ally's quick action and the U.S. government's financial support, approximately 1,400 Chrysler dealers, employing an estimated 70,000 people, were able to keep their businesses open and contribute to the stability of their communities.
"Over the past twelve months Ally has financed 82 percent of the vehicles sold to nearly 5,000 GM and Chrysler dealers in the U.S. In addition, the company financed 700,000 new vehicles for GM and Chrysler consumers within the last year," said Carpenter.
"In the first half of 2010, Ally's new consumer auto originations in the U.S. more than doubled compared to the first two quarters of last year to about 400,000 units, reflecting about eight times that of any other lender and demonstrating the company's leadership as a full service auto finance provider," he concluded.
PR Newswire
NEW YORK, Aug. 3 2010
Ally Financial Inc. (Ally) today reported net income of $565 million for the second quarter of 2010, compared to a net loss of $3.9 billion for the second quarter of 2009. Core pre-tax income, which reflects income from continuing operations before taxes and original issue discount (OID) amortization expense from bond exchanges, totaled $738 million in the second quarter of 2010, compared to a core pre-tax loss of $1.3 billion in the comparable prior year period.
Core pre-tax income during the quarter was driven by higher net revenue, a lower loan loss provision and a lower noninterest expense compared to the second quarter of 2009. Results were also positively impacted by certain factors that may moderate over the coming quarters, including gains on the sale of auto loans under forward flow agreements, lease portfolio remarketing gains resulting from high used vehicle prices, legacy mortgage loan sale gains and gains from the insurance investment portfolio.
"Ally made substantial progress in the second quarter with all operating segments posting a profit," said Ally Chief Executive Officer Michael A. Carpenter. "Ally is a fundamentally stronger organization today than it was a year ago, and we are proud of our central role in the recovery of the U.S. auto industry. As a result of Ally's quick action and the U.S. government's financial support, approximately 1,400 Chrysler dealers, employing an estimated 70,000 people, were able to keep their businesses open and contribute to the stability of their communities.
"Over the past twelve months Ally has financed 82 percent of the vehicles sold to nearly 5,000 GM and Chrysler dealers in the U.S. In addition, the company financed 700,000 new vehicles for GM and Chrysler consumers within the last year," said Carpenter.
"In the first half of 2010, Ally's new consumer auto originations in the U.S. more than doubled compared to the first two quarters of last year to about 400,000 units, reflecting about eight times that of any other lender and demonstrating the company's leadership as a full service auto finance provider," he concluded.
paologorgo
Chapter 11
Wagoner commenterebbe: gli investitori non comprerebbero azioni di una società che li ha già spazzati via una volta... 
IPO VIEW-GM IPO:Tough sell for Obama administration? | Reuters
IPO filing date slips, officials acknowledge concern
* Deal structure still under discussion -Bloom
* Investors shy from once-bankrupt GM -analyst
* Analysts call for more disclosure on IPO process
* Auction would help maximize taxpayer return -academic
By Clare Baldwin and Bernie Woodall
NEW YORK/DETROIT, Aug 6 (Reuters) - U.S. taxpayers were already mad about getting stuck with a $50 billion tab for bailing out a poorly managed General Motors.
Now, the Obama administration will try to convince a skeptical public that a sale from a better-run GM [GM.UL] is in their best interests.
GM turned a profit in the first quarter and Chief Executive Officer Ed Whitacre said next week's second quarter results will be "impressive". But investors will have to believe that a company that lost $88 billion from 2005 through the first quarter of 2009 and wiped out equity investors when it declared bankruptcy last spring is worthy of another bet.
Whitacre said on Thursday that GM is preparing its IPO filing. GM will be pushing its IPO while car sales are still well below pre-crisis levels and a full recovery of the U.S. auto industry is still questionable.
"If the market looks at GM as a company that is on the brink of failure, nobody really wants to get between them and that brink," said Rob Enderle, principal analyst at the Enderle Group in Santa Clara, California.
The date for GM to file its IPO registration, originally expected for mid-August, has been delayed and both the Obama administration and the U.S. automaker's top boss have gone on the defensive, acknowledging that there are concerns about the IPO but offering few specific reassurances.
As GM readies the thick sheaf of papers it needs for the nearly $20 billion offering, hoping to shed its "Government Motors" label, the level of concern is increasing.
"With the government's involvement and the extremely unusual bankruptcy that it went through, there are a number of stakeholders who have very conflicting interests," said Linda Killian, a portfolio manager at Connecticut-based Renaissance Capital.
"They need to be very clear about what the plans are for the company and who is going to be making the decisions," Killian said.
There is uncertainty over whether investors will chance a company that lost tens of billions of dollars for previous shareholders' savings and pensions, and, more fundamentally, whether consumers will buy and whether GM can sell shares.
IPO VIEW-GM IPO:Tough sell for Obama administration? | Reuters
IPO filing date slips, officials acknowledge concern
* Deal structure still under discussion -Bloom
* Investors shy from once-bankrupt GM -analyst
* Analysts call for more disclosure on IPO process
* Auction would help maximize taxpayer return -academic
By Clare Baldwin and Bernie Woodall
NEW YORK/DETROIT, Aug 6 (Reuters) - U.S. taxpayers were already mad about getting stuck with a $50 billion tab for bailing out a poorly managed General Motors.
Now, the Obama administration will try to convince a skeptical public that a sale from a better-run GM [GM.UL] is in their best interests.
GM turned a profit in the first quarter and Chief Executive Officer Ed Whitacre said next week's second quarter results will be "impressive". But investors will have to believe that a company that lost $88 billion from 2005 through the first quarter of 2009 and wiped out equity investors when it declared bankruptcy last spring is worthy of another bet.
Whitacre said on Thursday that GM is preparing its IPO filing. GM will be pushing its IPO while car sales are still well below pre-crisis levels and a full recovery of the U.S. auto industry is still questionable.
"If the market looks at GM as a company that is on the brink of failure, nobody really wants to get between them and that brink," said Rob Enderle, principal analyst at the Enderle Group in Santa Clara, California.
The date for GM to file its IPO registration, originally expected for mid-August, has been delayed and both the Obama administration and the U.S. automaker's top boss have gone on the defensive, acknowledging that there are concerns about the IPO but offering few specific reassurances.
As GM readies the thick sheaf of papers it needs for the nearly $20 billion offering, hoping to shed its "Government Motors" label, the level of concern is increasing.
"With the government's involvement and the extremely unusual bankruptcy that it went through, there are a number of stakeholders who have very conflicting interests," said Linda Killian, a portfolio manager at Connecticut-based Renaissance Capital.
"They need to be very clear about what the plans are for the company and who is going to be making the decisions," Killian said.
There is uncertainty over whether investors will chance a company that lost tens of billions of dollars for previous shareholders' savings and pensions, and, more fundamentally, whether consumers will buy and whether GM can sell shares.
Geller
Banned
Chrysler migliora nel 2Q
Trimestrale in crescita per Chrysler
09.08.2010 MILANO (Finanza.com)
Marchionne si mantiene prudente sulle prospettive di Chrysler e il mercato non gradisce nonostante la trimestrale in crescita.
La casa automobilistica di Detroit, che vede Fiat come azionista principale, ha chiuso il secondo trimestre con un utile operativo di 183 milioni di dollari, in crescita del 28% rispetto ai primi tre mesi del 2010.
I ricavi hanno raggiunto quota 10,5 miliardi di dollari, in aumento dell'8% rispetto al trimestre precedente. La perdita netta risulta pari a 172 milioni di dollari contro i -197 milioni del primo trimestre.
Numeri in deciso miglioramento ma sotto le attese.
Equita Sim stimava rispettivamente una perdita netta trimestrale di 5 mln, trading profit di 290 mln e ricavi a 11,6 mld.
Al 30 giugno risulta liquidità per 7,8 mld di dollari. Nel secondo trimestre le vendite di vetture dei marchi Chrysler sono salite a quota 407 mila unità dalle 334 mila dei primi 3 mesi dell'anno.
"La crescita dell'utile operativo - ha dichiarato Sergio Marchionne, a.d. di Fiat e di Chrysler - conferma che il Chrysler è ben incamminata per raggiungere i suoi obiettivi anche se c'è ancora molto lavoro da fare. Il 2010 deve essere visto come un anno di transizione e stabilizzazione".
Confermata quindi la guidance 2010 con la probabile revisione al rialzo degli obiettivi rinviata in autunno in seguito ai dati relativi al terzo trimestre. Per l'intero 2010 i ricavi sono pertanto attesi tra 40 e 45 mld, con il ritorno all'utile operativo (trading profit tra 0 e 200 mln).
Trimestrale in crescita per Chrysler
09.08.2010 MILANO (Finanza.com)
Marchionne si mantiene prudente sulle prospettive di Chrysler e il mercato non gradisce nonostante la trimestrale in crescita.
La casa automobilistica di Detroit, che vede Fiat come azionista principale, ha chiuso il secondo trimestre con un utile operativo di 183 milioni di dollari, in crescita del 28% rispetto ai primi tre mesi del 2010.
I ricavi hanno raggiunto quota 10,5 miliardi di dollari, in aumento dell'8% rispetto al trimestre precedente. La perdita netta risulta pari a 172 milioni di dollari contro i -197 milioni del primo trimestre.
Numeri in deciso miglioramento ma sotto le attese.
Equita Sim stimava rispettivamente una perdita netta trimestrale di 5 mln, trading profit di 290 mln e ricavi a 11,6 mld.
Al 30 giugno risulta liquidità per 7,8 mld di dollari. Nel secondo trimestre le vendite di vetture dei marchi Chrysler sono salite a quota 407 mila unità dalle 334 mila dei primi 3 mesi dell'anno.
"La crescita dell'utile operativo - ha dichiarato Sergio Marchionne, a.d. di Fiat e di Chrysler - conferma che il Chrysler è ben incamminata per raggiungere i suoi obiettivi anche se c'è ancora molto lavoro da fare. Il 2010 deve essere visto come un anno di transizione e stabilizzazione".
Confermata quindi la guidance 2010 con la probabile revisione al rialzo degli obiettivi rinviata in autunno in seguito ai dati relativi al terzo trimestre. Per l'intero 2010 i ricavi sono pertanto attesi tra 40 e 45 mld, con il ritorno all'utile operativo (trading profit tra 0 e 200 mln).
Geller
Banned
Chrysler verso l'IPO nel 2011
Fed pronta a soccorrere l’economia Usa. Chrysler verso l'IPO nel 2011.
10.08.2010 IlGiornale
La strada è quella giusta: lo dicono i numeri, lo conferma l’anticipo con cui si stanno bruciando le tappe, l’allontanarsi in fretta da quell’immagine-simbolo di dissolvimento dell’automobile Usa. Sulla rigenerata Chrysler, Sergio Marchionne continua a ricordare «lo straordinario lavoro che si prospetta davanti a noi», a predicare «rigore, massima disciplina e focalizzazione sugli obiettivi» e a considerare il 2010 come un anno «di transizione e di stabilizzazione»; ma ieri, durante la conference call per la presentazione dei risultati tra aprile e giugno, l’ad di Fiat e del gruppo di Detroit non ha nascosto la propria soddisfazione.
Che le cose si stiano mettendo bene, è evidente anche dalla ribadita intenzione di riportare Chrysler a Wall Street, con un’Ipo che potrebbe essere «un evento del 2011». Dalla disfatta alla riscossa in meno di tre anni, insomma. Con una rifondazione resa emblematica dal successo della New Jeep Grand Cherokee, «70.000 ordini per una vettura» concentrato «di alta qualità e avanzata tecnologia per tutto il gruppo». Mentre Fiat è al lavoro per alzare la propria quota nel gruppo Usa dall’attuale 20 al 35% («Tutto procede come atteso»), Marchionne fa di conto: per annunciare agli analisti che «è matematicamente impossibile» non rivedere al rialzo i target 2010 e spiegare come Chrysler potrebbe essere «significativamente in anticipo» rispetto al piano annunciato lo scorso novembre.
Dall’andamento del secondo trimestre, il manager italo-canadese trae gli auspici perché il prossimo anno possa portare a un «significativo miglioramento» del gruppo. Archiviare il 2010 con vendite tra 1,6 e 1,65 milioni di veicoli rappresenta un livello chiave per raggiungere gli obiettivi finanziari dell’anno, mentre l’andamento dell’utile operativo nella seconda parte dell’anno sarà cruciale per la quotazione. «Il primo semestre - ha detto Marchionne - si è chiuso con un utile operativo di 326 milioni di dollari. Si tratta di numeri importanti». Tra aprile e giugno il risultato di gestione è stato pari a 183 milioni (+28% rispetto al trimestre), un risultato che ha consentito di ridurre la perdita netta a 172 milioni (197 milioni il “rosso“ dei primi tre mesi), mentre i ricavi sono aumentati dell’8,2% a 10,5 miliardi. A fine giugno, la disponibilità di cassa è incrementata a 7,8 miliardi grazie al contributo positivo del cash flow del secondo trimestre di 474 milioni di dollari. La liquidità risulta quindi ulteriormente rafforzata sopra i 10 miliardi e l’indebitamento netto industriale è stato ridotto a 3,4 miliardi.
Cifre dunque positive, anche se in Borsa Fiat ha chiuso la seduta sfiorando un ribasso del 2%. Le azioni del Lingotto hanno pagato sia le attese di una immediata revisione verso l’alto degli obiettivi Chrysler 2010 da parte di alcuni analisti, sia il giudizio secondo cui le perdite del gruppo di Detroit segnalano che l’azione di risanamento non sarebbe del tutto completata.
Fed pronta a soccorrere l’economia Usa. Chrysler verso l'IPO nel 2011.
10.08.2010 IlGiornale
La strada è quella giusta: lo dicono i numeri, lo conferma l’anticipo con cui si stanno bruciando le tappe, l’allontanarsi in fretta da quell’immagine-simbolo di dissolvimento dell’automobile Usa. Sulla rigenerata Chrysler, Sergio Marchionne continua a ricordare «lo straordinario lavoro che si prospetta davanti a noi», a predicare «rigore, massima disciplina e focalizzazione sugli obiettivi» e a considerare il 2010 come un anno «di transizione e di stabilizzazione»; ma ieri, durante la conference call per la presentazione dei risultati tra aprile e giugno, l’ad di Fiat e del gruppo di Detroit non ha nascosto la propria soddisfazione.
Che le cose si stiano mettendo bene, è evidente anche dalla ribadita intenzione di riportare Chrysler a Wall Street, con un’Ipo che potrebbe essere «un evento del 2011». Dalla disfatta alla riscossa in meno di tre anni, insomma. Con una rifondazione resa emblematica dal successo della New Jeep Grand Cherokee, «70.000 ordini per una vettura» concentrato «di alta qualità e avanzata tecnologia per tutto il gruppo». Mentre Fiat è al lavoro per alzare la propria quota nel gruppo Usa dall’attuale 20 al 35% («Tutto procede come atteso»), Marchionne fa di conto: per annunciare agli analisti che «è matematicamente impossibile» non rivedere al rialzo i target 2010 e spiegare come Chrysler potrebbe essere «significativamente in anticipo» rispetto al piano annunciato lo scorso novembre.
Dall’andamento del secondo trimestre, il manager italo-canadese trae gli auspici perché il prossimo anno possa portare a un «significativo miglioramento» del gruppo. Archiviare il 2010 con vendite tra 1,6 e 1,65 milioni di veicoli rappresenta un livello chiave per raggiungere gli obiettivi finanziari dell’anno, mentre l’andamento dell’utile operativo nella seconda parte dell’anno sarà cruciale per la quotazione. «Il primo semestre - ha detto Marchionne - si è chiuso con un utile operativo di 326 milioni di dollari. Si tratta di numeri importanti». Tra aprile e giugno il risultato di gestione è stato pari a 183 milioni (+28% rispetto al trimestre), un risultato che ha consentito di ridurre la perdita netta a 172 milioni (197 milioni il “rosso“ dei primi tre mesi), mentre i ricavi sono aumentati dell’8,2% a 10,5 miliardi. A fine giugno, la disponibilità di cassa è incrementata a 7,8 miliardi grazie al contributo positivo del cash flow del secondo trimestre di 474 milioni di dollari. La liquidità risulta quindi ulteriormente rafforzata sopra i 10 miliardi e l’indebitamento netto industriale è stato ridotto a 3,4 miliardi.
Cifre dunque positive, anche se in Borsa Fiat ha chiuso la seduta sfiorando un ribasso del 2%. Le azioni del Lingotto hanno pagato sia le attese di una immediata revisione verso l’alto degli obiettivi Chrysler 2010 da parte di alcuni analisti, sia il giudizio secondo cui le perdite del gruppo di Detroit segnalano che l’azione di risanamento non sarebbe del tutto completata.
paologorgo
Chapter 11
General Motors Co (GM.UL) is preparing to report second-quarter results that will show a substantial gain over the first quarter in a report it will use to bolster its bid to return to capital markets and pay back taxpayers, two people familiar with the matter said.GM, now 61 percent-owned by the U.S. government, is counting on the momentum from its quarterly results to help it clinch a $5 billion bank credit facility as it prepares a stock offering expected to be the largest ever for the U.S. market.
GM has substantially completed work needed to register the IPO with the SEC but needs to complete negotiations with banks for its credit facility before that filing, the sources said.
As part of that process, GM has been reaching out to financial institutions and investors in an outreach spearheaded by Chief Financial Officer Chris Liddell and intended to give them confidence in the automaker's outlook, according to people with knowledge of those private discussions.
GM Chief Executive Ed Whitacre, appointed by the Obama administration to oversee the automaker's turnaround, said last week he expected the automaker's second-quarter result would be viewed positively by both potential investors and creditors.
"It will be good. It will be impressive," said Whitacre, who has also said his top priority is shedding the automaker's ties to the U.S. government and the label "Government Motors" used by critics of its bailout.
GM results to show gain over first quarter - Yahoo! Finance
GM has substantially completed work needed to register the IPO with the SEC but needs to complete negotiations with banks for its credit facility before that filing, the sources said.
As part of that process, GM has been reaching out to financial institutions and investors in an outreach spearheaded by Chief Financial Officer Chris Liddell and intended to give them confidence in the automaker's outlook, according to people with knowledge of those private discussions.
GM Chief Executive Ed Whitacre, appointed by the Obama administration to oversee the automaker's turnaround, said last week he expected the automaker's second-quarter result would be viewed positively by both potential investors and creditors.
"It will be good. It will be impressive," said Whitacre, who has also said his top priority is shedding the automaker's ties to the U.S. government and the label "Government Motors" used by critics of its bailout.
GM results to show gain over first quarter - Yahoo! Finance
paologorgo
Chapter 11
NEW YORK (Reuters) - General Motors Co has secured a $5 billion credit facility, two people briefed on the bank deal said on Wednesday, marking the return of the top U.S. automaker to the capital markets a year after it emerged from a landmark bankruptcy.
GM now plans to file a registration for its IPO on Friday, a day after it reports what is expected to be its second consecutive quarterly profit, two people with direct knowledge of the process said.
GM Ties up $5 Billion Bank Deal, IPO Filing Friday: Sources - ABC News
GM now plans to file a registration for its IPO on Friday, a day after it reports what is expected to be its second consecutive quarterly profit, two people with direct knowledge of the process said.
GM Ties up $5 Billion Bank Deal, IPO Filing Friday: Sources - ABC News
stockuccio
Guest
forse è il caso di ricordare agli interessati 'a chi vendono le big three' ... in patria non in Cina dove chiunque stravende
'Through June, cars and trucks built by the Detroit 3 accounted for 70% of the 829,060 vehicles sold to rental fleets.' a prezzi alti ... Detroit Automakers Finally Get It With Sales To Fleets - GLG News
chrysler The Associated Press: Chrysler sales rise but problems lurk behind gains ...
'Most of Chrysler's gains this year came from sales to rental car companies, governments and other businesses, according to confidential data obtained by The Associated Press. Everyday drivers have shunned its dated lineup of cars and trucks.
A successful Chrysler is essential for the government because it is trying to get back the $15 billion in emergency loans it made to the company.
Chrysler lost $197 million in the first quarter, and it's expected to post a net loss when it releases second-quarter results on Monday.
Overall, Chrysler's U.S. sales rose 12 percent from January through June compared with 2009. But sales to individuals, known as retail, tumbled 21 percent, according to the industry data.'
... in patria non in Cina dove chiunque stravende'Through June, cars and trucks built by the Detroit 3 accounted for 70% of the 829,060 vehicles sold to rental fleets.' a prezzi alti ... Detroit Automakers Finally Get It With Sales To Fleets - GLG News
chrysler The Associated Press: Chrysler sales rise but problems lurk behind gains ...
'Most of Chrysler's gains this year came from sales to rental car companies, governments and other businesses, according to confidential data obtained by The Associated Press. Everyday drivers have shunned its dated lineup of cars and trucks.
A successful Chrysler is essential for the government because it is trying to get back the $15 billion in emergency loans it made to the company.
Chrysler lost $197 million in the first quarter, and it's expected to post a net loss when it releases second-quarter results on Monday.
Overall, Chrysler's U.S. sales rose 12 percent from January through June compared with 2009. But sales to individuals, known as retail, tumbled 21 percent, according to the industry data.'
paologorgo
Chapter 11
GM's got "no comment" on an IPO filing - but in the meantime, Ed Whitacre is stepping down as CEO Sept. 1, to be replaced by director Dan Akerson, leader of Carlyle's global buyout group. Whitacre will still be chairman of the board through the end of the year.
..
General Motors Co. said Thursday it made $1.33 billion in the second quarter, a sign it's getting healthier as it prepares to sell stock to the public.It was the second straight quarterly profit for the Detroit automaker, which made $865 million in the first quarter, and sets the stage for GM to file paperwork soon to start the public stock sale process.
CEO Ed Whitacre said last week that the company is eager to sell shares in an initial public offering so it can end its dependence on the government and pay off $43.3 billion in bailout funds that were converted into a majority stake in the company. Whitacre wants the company to shed its "Government Motors" moniker because it's hurting sales and the company's image.
The Associated Press: GM posts $1.33 billion profit, a sign of strength
..
General Motors Co. said Thursday it made $1.33 billion in the second quarter, a sign it's getting healthier as it prepares to sell stock to the public.It was the second straight quarterly profit for the Detroit automaker, which made $865 million in the first quarter, and sets the stage for GM to file paperwork soon to start the public stock sale process.
CEO Ed Whitacre said last week that the company is eager to sell shares in an initial public offering so it can end its dependence on the government and pay off $43.3 billion in bailout funds that were converted into a majority stake in the company. Whitacre wants the company to shed its "Government Motors" moniker because it's hurting sales and the company's image.
The Associated Press: GM posts $1.33 billion profit, a sign of strength