Latest news with #WolfeResearchAuto
Yahoo
26-02-2025
- Automotive
- Yahoo
GM announces $6B share buyback, boosts dividend
General Motors (GM) shareholders just received what they wanted only a few weeks back when the automaker posted Q4 results — cash. GM announced on Wednesday that it was upping its quarterly dividend by $0.03 to $0.15 a share, its first hike since 2023. In addition, the company announced a new $6 billion 'share repurchase authorization,' with $2 billion of that happening relatively soon in the form of a new accelerated share repurchase (ASR) program. GM stock was up 3% in pre-market trade. "The GM team's execution continues to be strong across all three pillars of our capital allocation strategy, which are to reinvest in the business for profitable growth, maintain a strong investment grade balance sheet, and return capital to our shareholders," said Mary Barra, GM CEO and chair in a statement. When GM announced fourth quarter earnings last month, the stock traded lower as investors were disappointed the company did not return any cash to shareholders in the form of a new share purchase plan. Last year GM issued a share buyback plan to repurchase up to $6 billion of its outstanding common shares. This was an addition to the $10 billion accelerated share repurchase (ASR) program it introduced at the end of last year, which coincided with a plan to increase its dividend by 33%, beginning last January. During the analyst call last month, GM CFO Paul Jacobson said management and board would try to figure out a 'prudent' way to expand those plans, and has apparently done just that. "We feel confident in our business plan, our balance sheet remains strong, and we will be agile if we need to respond to changes in public policy," Jacobson said in today's statement. "The repurchase authorization our board approved continues a commitment to our capital allocation policy." GM added that 2025 capital spending will remain in the $10 billion to $11 billion, inclusive of investments in GM's battery manufacturing joint ventures, with research and product development spending expected to be more than $8 billion. Last month, GM projected 2025 profit coming in at a range of $13.7 billion to $15.7 billion, with a lower low bound but a higher upper bound than in 2024. Diluted and adjusted EPS are seen at $11.00 to $12.00 for the year, however the company did not model the effects of any Trump White House tariffs on imported vehicles or supplier parts. Earlier this month at the Wolfe Research Auto conference, Barra said the company could mitigate up to 50% of the tariff effect through shifting vehicle and parts production elsewhere. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram.
Yahoo
13-02-2025
- Automotive
- Yahoo
Ford CEO says factory jobs "at risk" if Trump repeals EV credits
Ford CEO Jim Farley is sounding the alarm over potential job losses if President Donald Trump follows through on plans to repeal electric vehicle (EV) tax credits. Speaking at the Wolfe Research Auto, Auto Tech and Semiconductor Conference, Farley emphasized that cutting these incentives could put thousands of U.S. manufacturing jobs at risk, The Detroit News has committed significant resources to expanding EV production, including the construction of four battery plants in Michigan, Kentucky, and Tennessee. These projects, developed with a joint venture partner, South Korea-based SK On Ltd., represent billions in investment and are expected to create nearly 13,000 jobs. Farley warned that rolling back Inflation Reduction Act (IRA) provisions that subsidize EV battery manufacturing could force Ford to scale back or even cut jobs. "We've already sunk capital—even though we've rationalized it—in battery production and assembly plants all through Ohio, Michigan, Kentucky, and Tennessee," Farley said. "And many of those jobs will be at risk if the IRA is repealed."The IRA, signed into law by President Joe Biden in 2022, provides up to $7,500 in tax credits for EV buyers and includes subsidies for U.S.-based battery production. The latter provision is particularly crucial for automakers like Ford, which depend on these credits to offset high manufacturing costs. Battery cells alone are eligible for a $35 per kilowatt-hour credit, reducing overall production expenses and allowing Ford to develop more affordable EV models. Farley said these subsidies are essential for the future of EV adoption, especially in the lower-cost segment. "There is a very underserved group of people where actually running an EV is cheaper than an internal combustion engine product," he said. "But these very large EVs that cost $50,000, $60,000, $70,000—we don't believe that's the future."On his first day back in office, Trump signed an executive order directing federal agencies to review and potentially repeal incentives favoring EVs. He also paused funding for the national EV charging network, a move that is already facing legal challenges. Ford's financial outlook has already been strained by high EV production costs, with its Model e EV division expected to lose up to $5.5 billion in 2025. The loss of tax credits would further complicate Ford's ability to make EVs profitable. Chief Financial Officer Sherry House warned that changes to the program would be "very material" to Ford's bottom also expressed concern over Trump's recent tariff policies, including a 25% duty on aluminum and steel. Although Ford sources 90% of these materials domestically, suppliers with international ties could still drive costs up. "There's a lot of policy uncertainty here," Farley said, pointing to potential disruptions in supply chains and production. "But in the meantime, we're scrambling to manage the company as professionals, and we're in a global race." Despite these concerns, Ford remains committed to its EV transition, though the pace may slow. Industry analysts suggest that while Ford is unlikely to abandon its EV projects entirely, it may delay investments or cut back production if tax credits disappear. While Trump has positioned himself as a champion of American manufacturing, Farley warned that reversing EV policies could do more harm than good. "President Trump has talked a lot about making our U.S. auto industry stronger," he said. "If this administration can achieve that, it would be one of the most signature accomplishments so far."
Yahoo
12-02-2025
- Business
- Yahoo
Micron Dips 2.2% After CFO's Margin Warning--Is This the Bottom for the Chipmaker?
Micron Technology (NASDAQ:MU) shares tumbled by 2.2% as of 12.09pm on Wednesday after CFO Mark Murphy reaffirmed the company's second-quarter outlook but warned of margin pressures ahead. Speaking at the Wolfe Research Auto, Auto Tech, and Semiconductor Conference, Murphy stated there would be no changes to the previously issued guidance, which forecasts adjusted earnings between $1.33 and $1.53 per share. However, he cautioned that third-quarter gross margins are expected to decline by several hundred basis points due to a shift in the company's customer mix and broader industry challenges. Warning! GuruFocus has detected 3 Warning Sign with MU. Micron's gross margin midpoint for the February quarter stands at 38.5%, already a slight dip from the prior quarter's 39.5%. Murphy noted that while consumer demand has exceeded expectations, it has been concentrated in lower-margin segments, putting additional pressure on overall profitability. Additionally, the company flagged ongoing "underutilization" in NAND production, though supply corrections are underway. Despite the near-term headwinds, Micron believes the May quarter could mark the bottom for margins, with industry conditions improving beyond that point. Murphy pointed to strengthening data center demand, better smartphone inventory levels, and ongoing reductions in NAND supply as factors that should gradually support pricing and profitability. While the company refrained from providing a longer-term forecast, investors will be watching closely to see if these tailwinds materialize in the latter half of the year. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
29-01-2025
- Business
- Yahoo
BlackBerry to Participate in Upcoming Investor Event
BlackBerry Executives to speak at upcoming Wolfe Research conference WATERLOO, ON / / January 29, 2025 / BlackBerry Limited (NYSE:BB)(TSX:BB) today announced its participation at the following investor conference: Wolfe Research Auto, Auto Tech and Semiconductor Conference - Wednesday, February 12, 2025, at 12:00pm ET Tim Foote, BlackBerry Chief Financial Officer, and John Wall, Chief Operating Officer QNX, Head of Product, Engineering & Services, will join Wolfe Research for a fireside chat. Register here for the live stream. A replay of the event will be available on the website. About BlackBerry BlackBerry (NYSE:BB)(TSX:BB) provides enterprises and governments the intelligent software and services that power the world around us. Based in Waterloo, Ontario, the company's high-performance foundational software enables major automakers and industrial giants alike to unlock transformative applications, drive new revenue streams and launch innovative business models, all without sacrificing safety, security, and reliability. With a deep heritage in Secure Communications, BlackBerry delivers operational resiliency with a comprehensive, highly secure, and extensively certified portfolio for mobile fortification, mission-critical communications, and critical events management. The company is also a pioneer in leveraging Artificial Intelligence and Machine Learning to deliver advanced cybersecurity solutions to its customers. For more information, visit and follow @BlackBerry. Investor Contact: BlackBerry Investor Relations+1 (519) 888-7465investorrelations@ Media Contact: BlackBerry Media Relations+1 (519) 597-7273mediarelations@ SOURCE: BlackBerry View the original press release on ACCESS Newswire Sign in to access your portfolio
Yahoo
28-01-2025
- Automotive
- Yahoo
Micron Announces Investor Event
BOISE, Idaho, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) announced today that company executives will participate at the Wolfe Research Auto, Auto Tech and Semiconductor Conference in New York, New York on Wednesday, February 12, at 6:50 a.m. Mountain time. Live webcasts and subsequent replays of presentations can be accessed from Micron's Investor Relations website at About Micron Technology, Inc. We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit © 2025 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners. Micron Media Relations ContactMark PlungyMicron Technology, Inc.+1 (408) 203-2910mplungy@ Micron Investor Relations ContactSatya KumarMicron Technology, Inc.+1 (408) 450-6199satyakumar@
