GM Sets Off Automakers — Thursday’s IP Market Recap

by Kyle Woodley | February 16, 2012 4:46 pm

GM Sets Off Automakers — Thursday’s IP Market Recap

IPMarketRecap GM Sets Off Automakers    Thursday's IP Market Recap[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

Three Down

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].

Endnotes:
  1. [Image]: http://investorplace.com/hot-topics/investorplace-market-recap/
  2. GM: http://studio-5.financialcontent.com/investplace/quote?Symbol=GM
  3. earnings report: http://investorplace.com/2012/02/general-motors-earnings-gm-taxpayers-automakers/
  4. F: http://studio-5.financialcontent.com/investplace/quote?Symbol=F
  5. VLKAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=VLKAY
  6. HMC: http://studio-5.financialcontent.com/investplace/quote?Symbol=HMC
  7. TM: http://studio-5.financialcontent.com/investplace/quote?Symbol=TM
  8. TSLA: http://studio-5.financialcontent.com/investplace/quote?Symbol=TSLA
  9. strong reception for its Model X crossover: http://investorplace.com/2012/02/tesla-tsla-earnings-model-x-model-s/
  10. AMZN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMZN
  11. MS: http://studio-5.financialcontent.com/investplace/quote?Symbol=MS
  12. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
  13. KO: http://studio-5.financialcontent.com/investplace/quote?Symbol=KO
  14. TRW: http://studio-5.financialcontent.com/investplace/quote?Symbol=TRW
  15. CAB: http://studio-5.financialcontent.com/investplace/quote?Symbol=CAB
  16. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  17. CAR: http://studio-5.financialcontent.com/investplace/quote?Symbol=CAR
  18. NILE: http://studio-5.financialcontent.com/investplace/quote?Symbol=NILE
  19. SJM: http://studio-5.financialcontent.com/investplace/quote?Symbol=SJM
  20. Kyle Woodley: http://investorplace.com/author/kyle-woodley/
  21. InvestorPlace.com: http://investorplace.com/
  22. here: http://investorplace.com/hot-topics/investorplace-market-recap/

Source URL: http://investorplace.com/2012/02/general-motors-gm-earnings-automakers-amzn-ko-dividend/
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