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U.S. Morning Call: GM reports Q1 revenue of $36.9 B

Thursday, May 02, 2013 - 03:48

May 2 - General Motors reports Q1 net income of $900 million, or 58 cents per share, down from $1 billion or 60 cents per share a year ago.

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Morning call for Thursday it's yet another big day for earnings GM to report results before the bell. All eyes will be on how much the auto maker is growing in North America and whether that's up to offset losses in Europe. Detroit's top three are having a bad here and that region Ford for instance lost 462. Million in Europe compared to 149000001. Year ago. Those negative numbers making analysts more cautious on G and they've slashed profit estimates by 14% over the last three months. Should -- GM now up 30% in the past year. And look for earnings from AIG after the bell analysts are expecting a drop in profit like other insurers AIG has been squeezed by low rates. But hot topic of conversation will be house in it offers dividend payments. Just last December AIG CEO Robert and -- shake finish repaying the government for 85 billion dollar bail out. He instead AIG may reinstated dividend this year after suspending payments in 2008. But it first needs to lower debt. AIG is up 39% in the past twelve months compared with 813% gain for the S&P 500. Even got to markets US stock futures according to a higher open we've got jobless claims data later this morning it's expected to rise slightly from the prior week. But the real attention getter however will be Friday's critical April job report. With 145000. Jobs expected to be added and the jobless rate remaining at seven point 6%. And -- -- stocks to watch let's start of course with FaceBook Evercore Partners raising its price target on the stock. To 32 bucks at the results showed rising mobile ad revenue when everybody wanted to hear. Facebook's ads on Smartphones and tablets accounted for 30% of total ad revenue compared to roughly 23% last quarter. The results reassuring investors -- the world's largest social network is finally keeping up with -- leadership from PCs. But also holding -- in the mobile -- space. Shares of FaceBook which are down roughly 12% since the end of January now up slightly in the premarket. And just in case you're curious -- and it now has one point one billion monthly active users. Next up we're watching sprint. Dish network's Charlie -- ruthless in his pursuit of the wireless provider taking a jab at Japan's Softbank. Ergen said the modernization of sprint network we'll have to be done from the US his quote. Well it's you have to climb towers here and he'll have to had US employees who speak English. That comments going to hurt more and help. You know what they mega OIPO from ING group the Dutch -- one point three billion dollar offering is being ranked as the second largest US split of the year behind Atlantis. It's sold over 65. Shares at just nineteen just over nineteen dollars. Below its expected range ING group ownership in ING US will fall 75% after the IPO. The parent said the rest of the state by 2016 as we structure to become more centric. I NG US will begin trading on the New York Stock Exchange today under the symbol VOY a it's among the ten largest -- in the US and -- late this morning. When will be into the CEO ING US Rodney Martin at around 1030 and then issued Thursday morning caught never follow us on Twitter apple insider and work great idiots. Last seen. I'm an expert on this.

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U.S. Morning Call: GM reports Q1 revenue of $36.9 B

Thursday, May 02, 2013 - 03:48