General Motors’ (NYSE: GM) CEO Mary Barra said today that GM has received the findings of an investigation by former U.S. Attorney Anton Valukas into the Cobalt ignition switch recall and plans to act on all of its recommendations.
Ford Motor (NYSE: F) announced that its board of directors has approved a repurchase program for up to approximately 116 million shares of Ford common stock, which will offset share dilution and help improve shareholder returns.
Ford (NYSE: F) announced that Alan Mulally has decided to retire from the company July 1 and Mark Fields will be named Ford President and CEO and elected as a member of the company’s board of directors.
Bottom line: Ford (NYSE: ) missed on earnings and beat on revenues; the earnings shortfall was the more surprising; management was quick to point out that a decline in net income of $622 million from a year ago was not reflective of underlying growth trends.
While banks do still face headwinds such as ongoing litigation, increased regulation and reduced trading profits, these have been so heavily trumpeted in the financial headlines that bank stock prices have over-reacted on the downside.
Free Stock Report
Put George Putnam's 27+ years of market-beating, contrarian investing advice to work for you, and give your portfolio a boost with this FREE stock report.