GM Sets Off Automakers — Thursday’s IP Market Recap
by Kyle Woodley | February 16, 2012 4:46 pm
[1]General Motors (NYSE:GM[2]) made a splash with its earnings report[3] Thursday, and the automaker sector as a whole helped celebrate.
GM posted its largest annual profit in history — $7.6 billion, which was up 62% from the year-ago period. Revenues also were up 11%. The fourth quarter was less impressive, with earnings flat at $500 million and adjusted EPS 2 cents shy of Wall Street estimates. But the banner day still was enough to send GM shares up 9% by the end of trading.
The rest of the sector followed suit. Ford (NYSE:F[4]) gained almost 3%, Volkswagen (PINK:VLKAY[5]) was up 1.7%, and Honda (NYSE:HMC[6]) and Toyota (NYSE:TM[7]) each rose more than 1%. Tesla Motors (NASDAQ:TSLA[8]) also gained ground Thursday, up 1.7% after a mixed earnings report but encouraging 2012 forecasts. The company also is riding high on the strong reception for its Model X crossover[9].
Amazon (NASDAQ:AMZN[10]) was hit hard Thursday morning after its shares were downgraded by Morgan Stanley (NYSE:MS[11]). AMZN shed about 5% before recovering for a final 2.5% loss. Morgan Stanley’s primary were concerns were threats from Apple (NASDAQ:AAPL[12]) and growing weakness in sales of physical media.
Coca-Cola (NYSE:KO[13]) finished up less than a percent after the company announced its 50th consecutive annual dividend increase. Coca-Cola raised its quarterly dividend 8.5%, to 51 cents, and will be payable April 1 to shareholders of record as of March 15. KO shares now yield roughly 3%.
Three Up
- TRW Automotive Holdings (NYSE:TRW[14]): Up 14.4% ($5.96) to $47.43.
- Cabela’s (NYSE:CAB[15]): Up 13.8% ($3.91) to $32.31.
- Kinross Gold (NYSE:KGC[16]): Up 7.7% (79 cents) to $11.10.
Three Down
- Avis Budget (NASDAQ:CAR[17]): Down 13.8% ($2.01) to $12.58.
- Blue Nile (NASDAQ:NILE[18]): Down 10.3% ($4.31) to $37.52.
- J.M. Smucker (NYSE:SJM[19]): Down 8.4% ($6.55) to $71.60.
Kyle Woodley[20] is the assistant editor of InvestorPlace.com[21]. As of this writing, he did not hold a position in any of the aforementioned securities. Check out recaps from previous trading days here[22].
- [Image]: https://investorplace.com/hot-topics/investorplace-market-recap/
- GM: http://studio-5.financialcontent.com/investplace/quote?Symbol=GM
- earnings report: https://investorplace.com/2012/02/general-motors-earnings-gm-taxpayers-automakers/
- F: http://studio-5.financialcontent.com/investplace/quote?Symbol=F
- VLKAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=VLKAY
- HMC: http://studio-5.financialcontent.com/investplace/quote?Symbol=HMC
- TM: http://studio-5.financialcontent.com/investplace/quote?Symbol=TM
- TSLA: http://studio-5.financialcontent.com/investplace/quote?Symbol=TSLA
- strong reception for its Model X crossover: https://investorplace.com/2012/02/tesla-tsla-earnings-model-x-model-s/
- AMZN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMZN
- MS: http://studio-5.financialcontent.com/investplace/quote?Symbol=MS
- AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
- KO: http://studio-5.financialcontent.com/investplace/quote?Symbol=KO
- TRW: http://studio-5.financialcontent.com/investplace/quote?Symbol=TRW
- CAB: http://studio-5.financialcontent.com/investplace/quote?Symbol=CAB
- KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
- CAR: http://studio-5.financialcontent.com/investplace/quote?Symbol=CAR
- NILE: http://studio-5.financialcontent.com/investplace/quote?Symbol=NILE
- SJM: http://studio-5.financialcontent.com/investplace/quote?Symbol=SJM
- Kyle Woodley: https://investorplace.com/author/kyle-woodley/
- InvestorPlace.com: https://investorplace.com/
- here: https://investorplace.com/hot-topics/investorplace-market-recap/
Source URL: https://investorplace.com/2012/02/general-motors-gm-earnings-automakers-amzn-ko-dividend/