GM Reports Sales In August Were Up

 - GM Reports Sales In August Were Up



Sep 1, 2011

General Motors (NYSE:GM) reported that U.S. August sales were up to 18% to 218,479 units.

The company also said that the month-end dealer inventory in the United States was 556,884 units, including 212,520 full-size pick up trucks and it's on track to meet its target of ending 2011 with a full-size pick up inventory of 200,000 units.

General Motors (NYSE:GM) has a potential upside of 75.6% based on a current price of $23.41 and an average consensus analyst price target of $41.12.

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Swire Oilfield Service Names New Sales Director

- Swire Oilfield Service Names New Sales Director

Monday, August 15, 2011
Swire Group

Swire Oilfield Service has appointed David Rae as sales director in line with its significant investment plans.

Mr. Rae brings a wealth of knowledge and experience to the company gained from holding a variety of senior commercial and finance roles in a career spent working in both the oil and gas and manufacturing industries. He was most recently business development director at helicopter operators CHC.

His role at Swire will see him plan and implement sales and marketing activities as well as contributing to the executive management of the company.

"I am delighted to join Swire at this dynamic time of investment and growth in the company and look forward to working with the sales and operations teams to ensure we continue to deliver a first class service to our clients," said Mr. Rae. "Our global offering is competitive with bespoke services in high demand and I look forward to the challenge of driving sales onwards and upwards with the support of my team."

Mr. Rae's appointment comes shortly after Swire's announcement of its £50 million investment in services with £20 million being injected in to its North Sea operations including the construction of new global headquarters in Aberdeen.

Roy Burrell, director and general manager for Swire Oilfield Services said, "We welcome David at an exciting time in Swire's progression. We strongly believe that the experience and knowledge that he brings to the team will enable us to continue our fast growth and success in the industry."

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Honda To Invest $800 Million In New Automobile Plant In Mexico

- Honda To Invest $800 Million In New Automobile Plant In Mexico



Aug 12, 2011

Honda de Mexico (NYSE:HMC), Honda's production and sales company in Mexico, announced that it will build an automobile plant for production of fuel-efficient subcompact vehicles for the Mexican and North American markets.

Honda will invest approximately $800 million to build the plant, which is scheduled to begin operation in 2014. The company is expected to hire 3,200 associates at its full annual capacity of 200,000 units; the plant will boost Honda's capital investment in its North American operations to nearly $21 billion.

Honda Motor (NYSE:HMC) has a potential upside of 37.5% based on a current price of $33.59 and an average consensus analyst price target of $46.2.

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First Subsea Names Global Sales, Business Development Manager

- First Subsea Names Global Sales, Business Development Manager

Tuesday, August 09, 2011
First Subsea Ltd.

First Subsea has appointed John Shaw as global sales and business development manager. Formerly head of Engineered Products Group at Trelleborg Offshore, he will be responsible for developing First Subsea's innovative ball and taper connector business worldwide.

In addition to the Ballgrab range of subsea mooring connectors, ball and taper has been successfully used for pipeline recovery and decommissioning tools, ROV and diverless bend stiffener connectors for risers and umbilicals, pipeline repair, hose connectors, heavy lift and buoy mooring and retrieval applications.

A Fellow of the Institute of Mechanical Engineers, Mr. Shaw is no stranger to the connector technology. At Trelleborg Offshore, he worked with First Subsea on the development of the diverless bend stiffener connector. "The simplicity of the ball and taper connection, and its powerful multi-point grip, makes it a very flexible solution to offshore connections in many demanding applications. My role will be to work with clients to develop existing and new applications for the ball and taper connector," he said.

First Subsea has successfully developed the ball and taper connector technology for drilling applications both onshore and offshore. One of this year's OTC Spotlight on Technology Awards included Canrig Drilling Technology's SureGrip Automated Casing Running Tool featuring the ball and taper gripping mechanism for handling drill piping.

"The ease of ball and taper connection makes it suitable for any application involving gripping, pulling and holding connections under load. John Shaw's experience will allow us to consolidate and improve our current product range, as well as developing opportunities for the connector in new markets," commented Brian Green, general manager, First Subsea Ltd.

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Toyota July Auto Sales Slip 20%

- Toyota July Auto Sales Slip 20%



Aug 2, 2011

Toyota Motor Sales USA Inc.(NYSE:TM) announced Tuesday that its July U.S. sales fell 22.7% as it continued to deal with parts shortages stemming from the March earthquake and tsunami in Japan.

Toyota sold 130,802 vehicles in July, compared to the 169,224 in the same month last year.

The Japanese automaker sold 27,016 of its Camry car, 22.9% down from 35,058 in July 2010.

Corolla sales dropped 35.7% to 17,577, while sales of the Prius hybrid, which is made only in Japan, tumbled 43.9% to 7,907.

Sales of the Sienna minivan rose 2.3 percent to 10,620.

Toyota Motor has a potential upside of 12.7% based on a current price of $81.96 and an average consensus analyst price target of $92.4.

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GM July Sales Rise 8%

- GM July Sales Rise 8%



Aug 2, 2011

General Motors Company (NYSE:GM) says its U.S. sales climbed almost 8% last month, led by fuel-efficient vehicles such as the Chevrolet Cruze car.

But GM's increase may not be the standard. Analysts foretell that sales of new cars and light trucks in the U.S. rose slightly from a year earlier as few deals and economic worries kept car shoppers home.

Vice President of Sales Don Johnson reports that unemployment, low consumer confidence and uncertainty over the federal debt ceiling scared some buyers off.

GM sold 214,915 vehicles in July, including almost 25,000 Cruzes. That could potentially make it America's top-selling car for the second straight month.

Sales of the Chevrolet Equinox and GMC Terrain small crossovers rose nearly 80%.

General Motors has a potential upside of 56.8% based on a current price of $27.71 and an average consensus analyst price target of $43.45.

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Honda Reported 29.9% Decline In Auto Sales In China In June

- Honda Reported 29.9% Decline In Auto Sales In China In June



Jul 6, 2011

Honda Motor Co. (NYSE:HMC) reported a 29.9% decline in its automobile sales in China in June as the lingering effect of the earthquake in Japan continues to crimp production.

The automaker said sales in China declined to 35,105 units in June, while sales in the first half of the year totaled 271,369 units, down 12.3% year-over-year. Honda sold 646,631 units in China last year, and is targeting around a 12% increase to 730,000 units this year.

Honda Motor has a potential upside of 17.2% based on a current price of $39.41 and an average consensus analyst price target of $46.2.

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Chrysler Group Reports June Sales Up 30% From June 2010

- Chrysler Group Reports June Sales Up 30% From June 2010



Jul 1, 2011

Chrysler Group LLC reported U.S. sales of 120,394, a 30% increase over June of 2010 and its best month since 2007.

Reid Bigland, Head of U.S. Sales for Chrysler said, "Thanks to our alliance with Fiat, we now have 12 models that have EPA-rated highway fuel economy of 25 miles per gallon or higher, and four of those models get 30 mpg or more. This business is all about product and consumers are rapidly discovering everything we now have. Each Chrysler Group brand is contributing to our success and driving our 46 percent retail sales growth."

The company's Jeep brand posted a 74% year-over-year sales increase, the largest of Chrysler Group brands.

For the first six months of the year, Chrysler's sales are up 21% from 2010.

The company finished the month with a 68-day supply of inventory, 314,065 units. Chrysler estimates industry-wide sales figures for the month of June were at a seasonally adjusted annual rate of 11.8 million.

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Ford's June Sales Grow 13.6% Year-Over-Year

- Ford's June Sales Grow 13.6% Year-Over-Year



Jul 1, 2011

Ford Motor's (NYSE:F) June sales totaled 194,114, growing 13.6% from June 2010, the company reported today.

Ken Czubay, Ford vice president, U.S. Marketing, Sales and Service said, "Strong demand for Ford's fuel-efficient cars and crossovers continues, and we now are seeing truck buyers return to the market with significant appetite for our fuel-efficient V6 engines. The Fiesta and Focus are driving Ford's retail share gains in markets beyond our traditional geographic areas of strength. In California, Ford's retail share is the highest since 2006. We also have seen gains in the East and Southeast."

Ford's small cars powered the sales figures, as the all-new Fiesta and the Ford Focus accounted for 26,920 sales in June, up 66% from a year ago. The Fiesta and Focus recently were named to Kelley Blue Book's 2011 Top 10 Coolest New Cars Under $18,000.

Ford's utilities were also strong, with 6-month sales now totaling 280,875, a 25% increase over the first six months of 2010, making it the top selling utility brand in the U.S.

Shares of Ford Motor are trading up 1.16% at $13.95.

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Investors Wait For Next Asset To Drop In Conoco's Sales Plan

- Investors Wait For Next Asset To Drop In Conoco's Sales Plan

Thursday, June 30, 2011
Dow Jones Newswires
HOUSTON
by Isabel Ordonez & Ben Lefebvre

ConocoPhillips (COP) investors are hoping for the company to quickly unveil the next step of its plan to sell up to $17 billion in noncore assets by the end of 2012 and reinvest a bulk of the proceedings in share buybacks.

Conoco's stock outperformed rivals Exxon Mobil Corp. (XOM) and Chevron Corp. (CVX) last year after investors embraced a large-scale, two-year restructuring plan presented in late 2009 that included a $10-billion asset sale and was aimed at shoring up its finances. Conoco's shares surged more than 30% in 2010, helped by evidence that the plan was going full steam ahead. By the end of last year, the sale plan seemed to be moving along. Conoco had sold $7 billion in assets, including its stake in oil sands oil producer Syncrude Canada Ltd. and the majority of its 20% stake in Russia's oil giant Lukoil OAO for $5.82 billion. Conoco said the Lukoil proceedings were excluded from the original $10-billion asset-sale plan and that money would be used to buy back the company's own shares. Those sales went so well that the Houston-based company announced in March it will expand its planned program through 2012 by selling an additional $10 billion of older, higher-cost assets.

But after a strong start, the company has this year given few signs that the asset sale is on schedule, says Fadel Gheit, an analyst at Oppenheimer & Co. "The company is keenly aware that the market is looking for news on the progress they are making in their asset sale," he said.

Conoco still has another year to complete the plan, but uncertainty about the pace of the second phase of the asset sales is starting to take a toll on its stock. Year to date, Conoco's shares are up 9.7%, underperforming the stock of Exxon and Chevron, which are up 10.6% and 12.1%, respectively.

Some analysts believe ConocoPhillips would have to make a significant announcement by the end of July, when it will report second-quarter earnings, if it wants to maintain momentum with investors; worries will only increase the longer no announcement is made. "If they don't announce something in the third quarter, the concern could rise," says Allen Good, an analyst at Morningstar.

Others believe that it's good for shareholders that the company is taking its time to make concrete sales plans. "With asset sales, it is rarely a good idea to rush the process," says Pavel Molchanov, an analyst at Raymond James. "A lower, more deliberate process can allow the seller to maximize value for the asset."

Conoco spokesman John Roper said the company doesn't "discuss potential acquisitions and dispositions prior to their closings. While we expect additional announcements this year, we have none to discuss at present."

Conoco has made a few medium-sized deals this year, including an April sale of a 15% stake in the planned Australia Pacific LNG Project in Queensland for $1.5 billion and the sales of its Seaway Products Pipeline in South Texas for an undisclosded price. But the company needs to make a couple of large-scale assets sale announcements to let the market know that it isn't behind schedule, Gheit said.

Conoco could shed assets in Australia and Kazakhstan, say UBS analysts who in June met with ConocoPhillips Chief Financial Officer Jeff Sheets. Those could include new stakes in Conoco's Australian liquefied natural gas venture with Origin Energy Ltd. (ORG.AU), and its 8.4% interest in the Kashagan oilfield in Kazakhstan, UBS said. Conoco's partner in the field, Exxon Mobil, received a $5 billion bid for its identical stake in Kashagan, according to the Wall Street Journal.

Alan Hirshberg, Conoco's Senior Vice President of Planning and Strategy, said in a presentation at a May energy conference that the company is also looking at leaving countries where it has a small presence, and selling some marginal refining assets like the Wilhelmshaven refinery in Germany. Hirshberg said Conoco is also considering turning refineries into product terminals and striking joint venture agreements, exchanging refining capacity for oil and gas assets.

Conoco would most likely want to pull out of the East Coast market, where fuel imports into New York Harbor make price competition extremely difficult, UBS said. The company has two major refineries in the area, the 238,000 barrel-a-day Bayway refinery in Linden, New Jersey; and the 185,000 barrel-a-day refinery in Trainer, Penn. Valero Energy Corp. (VLO) sold two of its refineries in that region in 2010 to private equity firm PBF Energy. PBF declined to say whether it was interested in the Conoco refineries in the area.


Copyright (c) 2011 Dow Jones & Company, Inc.

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U.S. Retail Sales Fall 0.2% In May, Smaller Drop Than Expected

- U.S. Retail Sales Fall 0.2% In May, Smaller Drop Than Expected



Jun 14, 2011

The U.S. Census Bureau estimated retail and food services sales for May at $387.1 billion today, down 0.2% from April, but up 7.7% from May of 2010.

Economists had expected a drop of 0.7% for May. The increase from March 2011 to April 2011 was revised down from 0.5% increase to a 0.3% increase.

Excluding slumping motor vehicle sales, which fell 2.9% from April, total retail sales rose 0.3%.

Core sales, which exclude automobiles, gasoline, and building materials, increased 0.2% in May from April.

For the first five months of the year, retail sales have totaled $1.87 trillion, an 8% increase over the same period in 2010.

Sales at gasoline stations, up 17.5%, lead the pack, followed by sales of motor vehicles, which despite slumping in April and May due to the Japanese earthquake, are still up 13.3% so far this year.

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Texon Turns on Taps at Leighton Olmos Well

Texon Turns on Taps at Leighton Olmos Well

Friday, April 08, 2011

Global Petroleum Ltd.

Texon has advised that that the eighth Leighton Olmos well in which Global has an interest, Peeler #2, has begun to flow oil and gas at the gross rate of 252 boepd from the Olmos reservoir (comprising 192 bopd and 360 mcf of gas per day).

Texon advise that Peeler #2 will be connected to oil tanks and a gas sales pipeline in the next two weeks.

Global has a 15% working interest (11.25% net revenue interest) in the well.

General Motors to develop Buick plug-in hybrid

General Motors to develop Buick plug-in hybrid



General Motors (GM) is developing a Buick using the Chevrolet Volt's plug-in hybrid technology, reports Bloomberg. According to two people familiar with the project, designers are working on a version of the hybrid Opel Ampera scheduled for sale in Europe this year. The Buick version would go on sale in 2013 if it receives final approval.