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S&P 500 Stock Index
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U.S. auto sales wrapping up a strong March
also are rising for the full year on improving U.S. economic indicators. The Dow Jones 30 Industrials and Standard and Poor ' s 500 indexes set record highs this month. IHS Global Insight economist Nigel Gault expects gains next week in monthly
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Sonic, citing weak accounting controls at dealerships, delays annual report
biggest intraday decline since Oct. 15. Sonic shares rose 17 percent this year through March 15, exceeding the Standard and Poor ' s 500 Index's 9.4 percent increase during that span. AutoNation Inc. and Penske Automotive Group Inc. are the
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Ford seeks more pension stability after funding shortfall widens
of which will be discretionary. Ford shares rose 0.1 percent Friday to close at $13.45 in New York trading. The shares have advanced 3.9 percent this year, compared with a 9.4 percent gain for the Standard and Poor ' s 500 Index.
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Ford CEO Mulally's 2012 compensation falls 29% to $20.99 million
Ratings lifted the company to the status in April. Standard and Poor ' s ranks Ford's debt BB+, the highest level of ..... ago, rose 20 percent last year, outpacing the Standard and Poor ' s 500 Index's 13 percent climb. The shares rose 0
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U.S. sold $489.9 million in GM shares in February
DETROIT (Bloomberg) -- The U.S. Treasury, which is exiting its ownership stake in General Motors, accelerated its sell-down of the automaker in February, saying it received $489.9 million in proceeds from the sale of common shares. The government disclosed the trading results Monday in its monthly report to Congress on the status of the Troubled Asset Relief Program. A similar report last month said the Treasury received $156.4 million from selling GM shares in January. The number of GM shares sold and average price per share will be disclosed when each pre-arranged trading plan is completed, the report said. The United States invested about $50 billion in GM, the biggest portion of an auto industry bailout that was a centerpiece of President Barack Obama's first term. The investment drew criticism from Republican officials and GM received the label "Government Motors" that CEO Dan Akerson now is trying to shed. "The story is moving on at GM," Matthew Stover, an analyst with Guggenheim Securities LLC in Boston, who has a neutral rating on the shares. "They have to get on with the business of growing and moving past the crisis period, and one of the important pieces of all that is the government leaving the business." GM in December purchased 200 million of its shares for $5.5 billion from the Treasury, moving the government a step closer to ending the auto bailout. After that transaction, the Treasury was left holding about 300 million shares, or 19 percent on a fully diluted basis and planned to sell its entire holding within 15 months. GM shares have climbed 11 percent since Dec. 18, the day before the company disclosed the share purchase from Treasury, through Monday. The Standard and Poor's 500 Index increased 7.6 percent during that span. GM shares closed Tuesday at $28.37, up 6 cents from Monday's close, on the New York Stock Exchange. Akerson, 64, took command of GM in September 2010, overseeing the final stages of the company's initial public offering in November of that year. He is trying to boost GM's profit margins, regain market share in the United States and break even in Europe by mid-decade as it competes with Toyota Motor Corp. and Volkswagen AG for global auto sales leadership.
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PSA will offer retail banking to raise funds for dealers, auto ops
euros. It exceeded that goal and had total deposits of 893 million euros at end of December, RCI Banque said last month. Standard and Poor ' s Ratings Services cut PSA's debt in February by one level and downgraded debt at the banking unit to junk. France's
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Federal-Mogul plans more plant closings amid cash burn, third straight quarterly loss
8.45 in Nasdaq trading on Wednesday. The shares had gained 13 percent this year through Tuesday, as the Standard and Poor ' s 500 Index rose 5 percent. The auto-parts supplier is controlled by billionaire Carl Icahn, who controlled 78
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Delphi initiates dividend to show confidence in business
Chief Financial Officer Kevin Clark said last year he expected Delphi to earn such a rating by the end of April 2013. Delphi has a corporate credit rating of BB+, the highest non-investment grade, from Standard and Poor ' s Ratings Services.
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Tesla loss widens but EV maker expects to become profitable in Q1
close in New York on Wednesday. They've risen 14 percent this year, compared with a 6 percent gain in the Standard and Poor ' s 500 Index. andnbsp; Bloomberg contributed to this report andnbsp;
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Ford to give Mulally bonus payment after he retires
and its shares climbed 20 percent, outpacing the Standard and Poor ' s 500 Index's 13 percent rise. The agreement for the ..... Ratings lifted the company to the status in April. Standard and Poor ' s ranks Ford's debt BB+, the highest level of
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PSA's banking unit cut to junk by SandP on sluggish Europe car sales
PARIS (Bloomberg) -- PSA/Peugeot-Citroen has been downgraded by Standard and Poor ' s Ratings Services while its banking unit has been cut to junk by the ratings firm on sluggish sales forecasts in Europe. PSA
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Lear investor group seeks board seats to boost shareholder value
much as $1.5 billion in capital to shareholders, said Stover, who recommends buying the shares. Lear had increased 13 percent in the past 12 months through Thursday, compared with a 12 percent gain in the Standard and Poor ' s 500 Index.
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Delphi posts lower Q4 results, but expects improved 2013 results
percent decline in revenue was in line with what analysts had forecast. The company, which was added to the Standard and Poor ' s 500 index in December, saw growth in all regions but Europe, where demand fell 18 percent. In November, Delphi
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Subprime lenders expect strong 2013
money available to lend. In addition, investors are buying up securities backed by subprime auto loans, according to Standard and Poor ' s Credit Ratings. That's one of the main ways independent, subprime auto lenders raise money to make new loans. Said
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Toyota wins back global auto sales crown from GM
president of the carmaker in June 2009, the company was reeling from its biggest annual loss and downgrades from Moody's and Standard and Poor ' s Ratings Services highest credit ratings. The global recession triggered a 35 percent contraction in U.S. auto demand
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Delphi weighs 'bolt-on' acquisitions against dividend
Delphi's chief financial officer, said last year he expected Delphi to earn that rating by the end of April 2013. Standard and Poor ' s Ratings Services on March 16 raised its corporate credit rating on Delphi to BB+, the highest non- investment grade
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Subprime lenders court Orlando magic
Services Inc., GM Financial, Nationwide Acceptance Corp., Santander Consumer USA Inc. and Westlake Financial Services. Standard and Poor ' s Ratings Services said at a conference in New York last week it expects prime and subprime auto lenders combined to raise
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Guardian Industries names new CEO after selling minority stake
to tell Crain's via email that "existing shareholders continue to hold the majority" after the sale. On Wednesday, Standard and Poor ' s released a statement that said it lowered Guardian's corporate credit rating from A to BBB+, with a stable outlook
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Stronger home prices seen as big boost for auto sales
news. But the real harbinger of happy days in the auto world may be the latest data on home prices. According to the Standard and Poor ' s /Case-Shiller Home Price Indices, prices were up 3.6 percent in the third quarter compared with the same period of
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Fiat's young boss steers a tough course
generate their revenues and profits," Elkann pointed out in Exor's letter to shareholders this year. Exor has a BBB+ Standard and Poor ' s credit rating and about $954 million to spend. But Elkann is a cautious investor, the family member said, in part because