On Friday, General Motors Company (NYSE:GM)’s shares inclined 3.47% to $31.74.
Running an errand to a big box store or planning a weekend excursion are about to get easier for some Manhattan residents because of a car-sharing program revealed recently by General Motors. It’s the company’s latest move to deliver urban mobility options to customers around the globe.
Let’s Drive NYC is available to eligible residents of The Ritz Plaza, a 479-unit luxury apartment building at Times Square in midtown Manhattan, owned and managed by Stonehenge Partners.
Residents use a GM-developed mobile app to reserve a vehicle and access parking in one of 200 garages throughout Manhattan managed by Icon Parking Systems. The fleet presently comprises eight Chevrolet Trax small SUVs and two Chevrolet Equinox compact SUVs, with more vehicles to be added later.
General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments. The company markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden, and Vauxhall brand names, in addition to under the Alpheon, Baojun, Jiefang, and Wuling brand names.
ArcelorMittal SA (ADR) (NYSE:MT)’s shares gained 8.13% to $5.45.
ArcelorMittal SA (NYSE:MT) was downgraded by Zacks from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Market Beat reports.
According to Zacks, “ArcelorMittal’s earnings for the second quarter of 2015 beat the Zacks Consensus Estimate. Revenues fell by double-digits on lower steel pricing, but came ahead of expectations. ArcelorMittal continues to contend with soft economic conditions in Europe and China, volatility in steel prices and tough competition. The oversupply in the steel industry has pressured prices and might lead to further price declines. Moreover, lower iron ore pricing is expected to continue to hurt the company’s mining business in 2015. However, we are impressed by the growth opportunities arising from acquisitions and emerging markets as well as the company’s efforts to cut debt and reduce costs.”
ArcelorMittal, together with its auxiliaries, operates as an integrated steel and mining company worldwide. The company operates through five segments: NAFTA; Europe; Brazil and Neighboring Countries (Brazil); Africa & Commonwealth of Independent States (ACIS); and Mining.
At the end of Friday’s trade, Mobileye NV (NYSE:MBLY)‘s shares surged 5.29% to $49.40.
Research analysts have given Mobileye N.V. (MBLY) a consensus one year price target of $73.00. This is the average number based on the brokerages polled by Thomson Reuters’ First Call. These same sell-side analysts are expecting that the company will report $0.14 earnings per share next quarter and earnings of $0.45 per share for the current year.
Mobileye N.V., together with its auxiliaries, designs and develops software and related technologies for camera-based advanced driver assistance systems primarily in Israel. It operates through two segments, Original Equipment Manufacturing and After Market.
AK Steel Holding Corporation (NYSE:AKS), ended its Friday’s trading session with 7.34% gain, and closed at $2.56.
AK Steel (AKS) offered guidance for its third quarter 2015 financial results. AK Steel said that it anticipates to report a net loss of $0.02 to $0.07 per diluted share of common stock for the third quarter of 2015, reflecting an improvement from the net loss of $0.36 per diluted share in the second quarter of 2015. AK Steel said it anticipates the positive financial effects of higher shipments, lower raw material costs, cost reduction efforts and higher operating rates will partially offset lingering low carbon steel spot market prices.
For the third quarter of 2015, AK Steel anticipates shipments of about 1,860,000 tons, an enhance of about 3% contrast to the second quarter of 2015. The enhance in shipments quarter over quarter is primarily related to raised shipments to the automotive market.
AK Steel anticipates an average selling price of about $910 per ton for the third quarter of 2015, about 2% lower than the second quarter of 2015. The decrease in average selling price is primarily a result of lower carbon steel spot market pricing, which the company believes is principally driven by high levels of unfairly traded foreign steel imports. Lower costs for raw materials (principally iron ore pellets and carbon scrap) and energy, together with the results of continued efforts across the company to reduce costs, partially offset the effects of lower steel selling prices.
AK Steel Holding Corporation, through its partner, AK Steel Corporation, produces flat-rolled carbon, stainless and electrical steel, and tubular products in the United States and internationally. It produces flat-rolled value-added carbon steels, counting coated, cold-rolled, and hot-rolled carbon steel products; and specialty stainless and electrical steels in sheet and strip forms.
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