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.

Securities Dealers, Investment Banking and Securities Dealing, Financial analysis, General Motors Corp., Merrill Lynch & Company Inc.

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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

Asset sales & divestitures, Acquisitions & mergers, General Industrial Machinery, Machinery Manufacturing, Motor Vehicle Parts, Motor Vehicle Parts Manufacturing, Industrial equipment, Machinery, Automotive parts, Cooper Industries Ltd., Federal-Mogul Corp.

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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

Ford Motor Co.

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