Auto Company Sales and Pensions Pushed These 4 Stocks Today
Ford Motor Co. (NYSE:F): The Detroit News reports that pension buyout offers for 98,000 of Ford’s U.S.-based salaried retirees and former white-collar workers could being as soon as August. This is part of a strategy to lose nearly up to one-third of its U.S. pension liability, a total of $49B. The amount of workers willing to accept the offer is unclear. The shares traded down $0.29 (2.75%) recently at $10.27.
General Motors Company (NYSE:GM): The company will begin providing select U.S. salaried retirees a lump-sum payment offer while other retirees will have a continued monthly payment that will be administered and paid by The Prudential Insurance Company of America, a Prudential Financial (NYSE:PRU) company. The results of these retirement plan actions is expected to be a $26B reduction of GM’s U.S. salaried pension obligation. The shares traded up $0.79 (3.56%) recently at $22.99.
Toyota Motor Corporation (NYSE:TM): In May, Toyota Motor Sales U.S.A. reported monthly sales of 202,973 units. This is a 79% increase on a daily selling rate basis and an 87.3% increase on an unadjusted raw volume basis. The shares traded down $1.87 (2.43%) recently at $75.02.
Honda Motor Co., Ltd. (NYSE:HMC): Honda reports May U.S. sales at 133,997 units, a 47.6% increase.The shares traded down $0.88 (2.77%) recently at $30.91.
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