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GM May Buy Back More Stock, Revive Dividend

“We’re getting stronger,” CEO Akerson declares.

by on Jun.07, 2013

GM's headquarters at the Detroit Renaissance Center.

General Motors investors have had a lot to celebrate in recent weeks watching the maker’s shares surge, the stock rejoining the influential S&P 500 – and now, with Chairman and CEO Dan Akerson suggesting the maker might be ready to restore the GM dividend for the first time since 2008.

Akerson also is weighing the possibility of buying back more GM shares, a move that could further drive up a stock that has nearly doubled since hitting a low point last July.

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But, “First and foremost we must continue to invest in this company so we don’t lose the competitive edge that we have today,” Akerson told stockholders meeting in Detroit, an event where he declared the company’s bailout and revival a success.


Treasury Rushing to Sell Off More GM Stock

Maker’s shares gets a bump as it prepares to rejoin S&P 500.

by on Jun.05, 2013

GM stock is showing strong momentum after being in the doldrums most of 2012.

While the Treasury Department’s self-imposed deadline to dump its remaining General Motors stock is still nearly a year away, the government plans to benefit from rising prices by putting another 30 million shares on the block this month.

The announcement comes a day after word came that General Motors will rejoin the closely watched S&P 500 stock index for the first time since it filed for bankruptcy in 2009. The maker’s shares have been surging in recent weeks and are now trading above GM’s November 2010 IPO price of $33 a share.

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The government isn’t alone in seizing a potential opportunity. Another 20 million GM shares will be sold by the UAW Retiree Medical Benefits Trust. Commonly known as a VEBA, it received stock in the wake of the maker’s 2009 bankruptcy.


GM Rejoining S&P 500

Strong sales, earnings buoy domestic auto stocks.

by on Jun.04, 2013

Investors have been buoyed by strong sales of GM's big trucks - the 2014 version of the Chevrolet Silverado shown here.

Barely four years after emerging from a bankruptcy some thought it might not survive, General Motors is once again being seen as a barometer of the American economy, the maker rejoining the S&P 500, a key stock market index, after the New York Stock Exchange wraps up Thursday trading.

GM will replace H.J. Heinz Co. on the S&P 500, according to the S&P Dow Jones Indices. It comes as the latest in a series of endorsements for the Detroit maker, including recent debt ratings upgrades, and follows a series of strong earnings reports and U.S. sales gains.

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The move is expected to help further boost the share price of GM which has already experienced a more than 25% gain since early April. But it’s by no means alone.  Cross-town rival Ford Motor Co. has jumped by an even greater margin in recent months, as has Fiat S.p.A., the Italian automaker that now owns a controlling stake in Detroit-based Chrysler Group LLC.


How High is Up for GM Stock?

Maker will rejoin S&P 500 “before too long,” says CEO Akerson.

by on May.20, 2013

GM CEO Dan Akerson delivers the commencement address to Notre Dam business grads over the weekend.

Perhaps it’s just a rising tide lifting all boats, but General Motors stock has hit its highest close in more than two years – beating the $33 a share price tag set during its initial public offering in November 2010.

The resurgence comes as the overall stock market charges from one record to another, but also suggests that investors are impressed by the performance of the giant maker which earlier this month announced $865 million in earnings for the first quarter of 2013.

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Though it has now delivered 3 consecutive quarterly profits, GM is still in the “early innings” of its recovery,” CEO Dan Akerson said over the weekend in South Bend, Indiana, where he delivered the commencement speech for Notre Dame business school graduates.  GM is “on the cusp,” said the executive, of regaining its investment grade debt rating back.  Akerson also suggested in his speech that the maker will rejoin the S&P 500 “before too long.”