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The Zacks Analyst Blog Highlights: General Motors, Ford, Fiat, Tesla and Honda

October 7, 2020

For Immediate Release

Chicago, IL – October 7, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include General Motors GM, Ford F, Fiat Chrysler FCAU, Tesla TSLA and Honda HMC.

Here are highlights from Tuesday’s Analyst Blog:

Big 3 Detroit Automakers in Focus: How Have They Fared?

After plunging the most in the second quarter since the Great Recession, the U.S. auto industry gathered momentum in the third quarter, with sales rebounding from coronavirus-led lows and buyers returning to showrooms. Sales growth for September marked the first monthly rise since February. Unless there is a spike in coronavirus cases, which will trigger another round of lockdown and send vehicle deliveries into a tailspin, auto sales in the United States are

Kia Motors America Announces Record September Sales

October 1, 2020

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The Daily Beast

Lindsey Graham on Spreading Potential Russian Disinformation: It Doesn’t Matter If It’s True

Former Hillary Clinton aides, ex-intelligence officials and Senate Democrats are accusing Director of National Intelligence John Ratcliffe of laundering Russian disinformation before an election after Ratcliffe suggested Clinton attempted to manufacture a scandal about Russian interference in the 2016 election on behalf of President Trump.On Tuesday, Ratcliffe, a loyalist whom Trump placed atop U.S. intelligence in the spring, sent Sen. Lindsey Graham (R-S.C.) a letter claiming that in late July 2016, U.S. intelligence acquired “insight” into a Russian intelligence analysis. That analysis, Ratcliffe summarized in his letter, claimed that Clinton had a plan to attack Trump by tying him to the 2016 hack of the Democratic National Committee. Trump, in late July 2016, had publicly called for Russia to purloin Clinton’s emails. And both U.S. intelligence and former special counsel Robert Mueller have since

A second woman has reportedly accused Nikola Motors founder Trevor Milton of sexual assault

September 29, 2020

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a man standing in front of a car: Trevor Milton resigned from Nikola amid fraud allegations. REUTERS/Massimo Pinca

A second woman has come forward with a sexual assault allegation against Nikola Motors founder Trevor Milton, CNBC reported on Monday.

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The woman’s lawyer, Craig Johnson, told CNBC that the alleged assault happened in 2004 when she was 15 and Milton would have been 22, after he hired her as an office assistant for a security company he ran in St. George, Utah.

“The allegation by my client is that he digitally penetrated her vagina with his fingers, which under Utah law constitutes object rape, and that is the charge the police will be investigating, in addition to forcible sexual abuse, which includes any ancillary touching of the vagina during the assault,” Johnson said, according to CNBC.

The first woman, Aubrey Ferrin Smith, Milton’s cousin, came forward with a separate allegation on Twitter last week

General Motors Invests $71 Million in 2 Ohio Plants

September 28, 2020

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General Motors (GM) – Get Report said on Monday that it would invest $71 million in two manufacturing facilities in Ohio, with work expected to begin immediately.

GM will allocate $39 million to its Toledo transmission plant and $32 million at its Defiance casting plant. Both investments are expected to maintain 240 jobs.

“Through these investments, GM continues to strengthen its significant manufacturing presence in Ohio,” said Phil Kienle, GM vice president of North American manufacturing and labor relations, in a company statement.

The company’s eight-speed rear-wheel-drive transmission will be developed and upgraded through the Toledo investment. The other investment will help prepare the Defiance casting plant for future work containing engine casting components.

A team of 1,700 workers manufactures and assembles GM’s six-speed, eight-speed, and ten-speed rear-wheel-drive and nine-speed front-wheel-drive transmissions at the Toledo facility. Those transmissions are commonly used in a number of Buick, GMC and

General Motors to repay some Ohio tax incentives as part of deal with state over shuttered Lordstown plant

September 28, 2020

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COLUMBUS, Ohio — Ohio officials have ordered General Motors to repay $28 million out of $60.3 million in state tax credits the company received, after officials officially determined on Monday that GM broke a deal to keep thousands of jobs at its now-shuttered assembly plant in Lordstown.

As part of the deal, announced Monday by the Ohio Tax Credit Authority, GM also agreed to invest $12 million in the Mahoning Valley area by the end of 2022, in the form of community infrastructure, jobs-training or other community programs. The company will not make up for the other $20.3 million in tax credits it received. The TCA took into account “market conditions and GM’s other operations in Ohio,” when setting the refund amount, according to Todd Walker, an agency spokesman.

The company had received the $60.3 million under the terms of a 2008 deal with state officials. In exchange, GM said

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