General Motors ( GM ) and Chrysler are back asking for more Government assistance tonight. This comes as no surprise, but both companies need more money to survive the current economic crisis.
General Motors ( GM ) News Highlights - 2/18/09
- GM seeks up to 16.6 billion in additional aid
- General Motors may cut around 47,000 jobs in 2009
- Will report back in March 31st, 2009 and show how they will become profitable
- Will close 5 plants by 2012
- Selling ( or shutting down ) the Hummer Unit by March 31, 2009
- GM received 13.6 billion since December and they will need at least 9.9 more ( up to 16.6 ) Yikes!!
Chrysler News Highlights - 2/18/09
- Chrysler needs an additional 5 billion after already receiving 4 billion since December
- Auto Sales continue to decline
Each company has come up with several bankruptcy scenarios but would like to avoid them at all costs. Can we afford to let them go Bk? The unemployment rate could spike up to 13% or higher.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Showing posts with label big 3 automakers. Show all posts
Showing posts with label big 3 automakers. Show all posts
Tuesday, February 17, 2009
Thursday, November 20, 2008
General Motors ( GM ) Ford ( F )11/20/08 - Bailout
Senators in Washington are going to hold a news conference about a possible bailout agreement on the big three automakers including General Motors ( GM ) and Ford ( F ) at 2:30pm est today, 11/20/08.
Both GM and F stocks are exploding to the upside, General Motors actually hit $1.70 at one point today and is now back over $3.50 per share. Ford hit $1.01 per share and is now $1.70.
The Hogan Bottom held this morning, we bounced off the 7773 low and we are now testing 8175 resistance from yesterday which was support. Check out THESE charts for analysis. I will have a new chart tonight after the closing bell.
For the latest stock market updates, visit, http://daytradingstockblog.blogspot.com/
Both GM and F stocks are exploding to the upside, General Motors actually hit $1.70 at one point today and is now back over $3.50 per share. Ford hit $1.01 per share and is now $1.70.
The Hogan Bottom held this morning, we bounced off the 7773 low and we are now testing 8175 resistance from yesterday which was support. Check out THESE charts for analysis. I will have a new chart tonight after the closing bell.
For the latest stock market updates, visit, http://daytradingstockblog.blogspot.com/
Hogan Bottom: Art Hogan 11/20/08 CNBC Comments
Art Hogan, Chief Market Strategist at Jefferies & Company was on CNBC this morning, 11/20/08, and gave comments and stock market predictions. Art Hogan is popular for what CNBC calls, " The Hogan Bottom " due to his bottom call on October 10th, 2008 when everyone was panicking. Art Hogan boldly called the bottom on 10/10/08 and sure enough, so far it turns out he was right ( Although we will be testing Art Hogan's Bottom Call Today! ). Below is what he had to say November 20th, 2008. Previous Comments - HERE
Art Hogan CNBC Comments:
Its a difficult day to come back on CNBC, we breached the S&P 500 and Nasdaq closing lows, I guess the Dow Jones could be next....the biggest changes were GM and the big three automakers, use of the tarp changed, financials down 22% over the past week. It's going to be a difficult morning. The problem is structurally things have changed!
Can we get a reversal today? We need clarity on the automotive industry, we'd also like to hear who the next Treasury Secretary will be for the next Administration. The market needs clarity!
Advice for us Art? It's going to be a tough couple of days, as soon as we find out a new plan of where we are going, the better we are going to be.
For more stock market updates, visit, http://daytradingstockblog.blogspot.com/
Art Hogan CNBC Comments:
Its a difficult day to come back on CNBC, we breached the S&P 500 and Nasdaq closing lows, I guess the Dow Jones could be next....the biggest changes were GM and the big three automakers, use of the tarp changed, financials down 22% over the past week. It's going to be a difficult morning. The problem is structurally things have changed!
Can we get a reversal today? We need clarity on the automotive industry, we'd also like to hear who the next Treasury Secretary will be for the next Administration. The market needs clarity!
Advice for us Art? It's going to be a tough couple of days, as soon as we find out a new plan of where we are going, the better we are going to be.
For more stock market updates, visit, http://daytradingstockblog.blogspot.com/
Wednesday, November 19, 2008
Bill Gross CNBC comments 11/19/08 - Pimco
Bill Gross was on CNBC today, 11/19/08, here are some of Bill's comments. Bill Gross is from Pimco.
The Fed Funds rate at 1% is not low enough, the Fed might have to lower it to .50 or zero to stimulate the economy. The stock market is in a phase of deleveraging still. It is not trading on fundamentals.
The money markets are looking healthy, we aren't going back to the froze state of the credit crisis like we have been in several months ago.
Titanium Umbrella - Buy what the Government is buying. Are you concerned that the Government won't give any money to the Big 3 automakers?
I think there will be some kind of bridge loan for the automakers until the end of the year, I think they will get at least 10 billion to last them the year.
For more of Bill Gross comments, go HERE
http://daytradingstockblog.blogspot.com/
The Fed Funds rate at 1% is not low enough, the Fed might have to lower it to .50 or zero to stimulate the economy. The stock market is in a phase of deleveraging still. It is not trading on fundamentals.
The money markets are looking healthy, we aren't going back to the froze state of the credit crisis like we have been in several months ago.
Titanium Umbrella - Buy what the Government is buying. Are you concerned that the Government won't give any money to the Big 3 automakers?
I think there will be some kind of bridge loan for the automakers until the end of the year, I think they will get at least 10 billion to last them the year.
For more of Bill Gross comments, go HERE
http://daytradingstockblog.blogspot.com/
Subscribe to:
Posts (Atom)
