GM's 1999 earnings estimate slashed 20% by Merrill Lynch & Co. analyst
Article Abstract:
The 1999 estimated earnings for General Motors Corp. have been slashed by 20%, according to an analyst for Merrill Lynch and Co., due to projected weak vehicle sales, rising incentive costs and other factors. The Merrill Lynch analyst also expected that General Motors, which he advised to implement a cost-cutting strategy, would suffer setbacks in profits from its international operations related to tumultuous conditions in emerging markets. Industry analysts have given favorable outlooks for Ford Motor Co. and Chrysler Corp.
Comment:
Has given an unfavorable 1999 estimated earnings forecast to General Motors Corp.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Federal-Mogul to buy Cooper Industries' AutoLine
Article Abstract:
An observer states that Federal-Mogul Corp. plans to buy the automotive business of Cooper Industries Inc. for 1.9 billion. The Southfield, MI-based company, which has already made two acquisitions within the span of a year, is expected to account for its purchase of Cooper as a cash transaction. Completion of the acquisition would leave Federal Mogul with annual sales of about $7 billion; in 1997, the company realized sales of about $1.8 billion. Buying Cooper will bring Federal manufacturing for drums, rotors and calipers.
Comment:
Federal-Mogul Corp. plans to buy the automotive business of Cooper Industries Inc. for 1.9 bil
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Ford's earnings expected to lead Big Three
Article Abstract:
Ford Motor Co. is expecting to post higher-than-predicted earnings for the second-quarter of 1998. According to a survey of First Call analysts, Ford is expected to post $1.81 a share in quarterly earnings. During the same period in 1997, the car maker posted $2.06 a share in earnings. Chrysler Corp. is expected to post $1.41 per share in the quarter, while General Motors Corp. will post 67 cents a share.
Comment:
Ford Motor Co. expecting to post higher-than-predicted earnings for the second-quarter of 1998
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic: