A123 Systems DIPS 15% and 3 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F) CEO Alan Mulally explains that the company is still attracted to India in a “tremendous market long term,” but Detroit News reports that there is concern about slowing growth. Mulally adds that Ford intends to launch eight vehicles in India by 2015, creating as many as 5,000 direct jobs.
General Motors Company (NYSE:GM): At the automaker’s annual meeting, GM Chairman and CEO Dan Akerson told shareholders that the top priorities for the company in the year ahead are to improve margins and continue turnaround efforts in Europe. Akerson also states that he hopes the government will sell its 32% stake of GM “at the appropriate time they would inform us of their intention and we would look at various options and alternatives that may or may not be afforded the company.”
Toyota Motor Corporation (NYSE:TM): The Federal Trade Commission has proposed all the labels required on alternative fuel vehicles be consolidated with the labels required by the U.S. Environmental Protection Agency. This eliminates any need for two different labels and reduces the stress of complying with the Alternative Fuels Rule. After considering comments received, the FTC wishes to consolidate FTC labels with EPA labels for all AFVs. This notice of Proposed Rulemaking vote came to 5-0. The FTC does not suggest any changes to current alternative fuel rating requirements for fuel dispensers.
Honda Motor Co., Ltd. (NYSE:HMC): Because there is an assembly issue with the driver’s side driveshaft that may cause loss of power, 50K 2012 Civics in the U.S. were recalled. The company intends to notify owners later this month.
A123 Systems, Inc. (NASDAQ:AONE): As a result of Wunderlich Securities’ claim that A123 Systems’ new battery technology cannot solve its financial problems, the company is forking back a large portion of yesterday’s gains. The firm maintained a Sell rating on the stock and a 50c price target.
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