GM (GM) Names Former Apple Cloud Executive Mike Abbott as VP/Software

General Motors (GM) restructures business unit to compete with Ford Pro (F)

Detroit automaker, General Motors (NYSE: GM), at its annual Fleet Solutions Summit, revealed that the company is consolidating its North American sales operations for commercial vehicles, parts and telematics services under a new brand umbrella named GM Evolve. The new brand will compete with Fords(NYSE: F) Ford Pro unit and others for revenue from business vehicle... More

Barclays see Apple TV+ subscriber base rising to 39 million in 2025, losses will plateau

Barclays analyst Tim Long said the firm believes Apple (NASDAQ: AAPL) TV+ losses will plateau beginning in 2025.

The analyst maintained an Equal Weight rating and a $149 price target on Apple in the note Wednesday. The tech giant's shares are currently up over... More

U.S. EV shares slump following news of Lucid (LCID) and Fisker (FSR) poor 1Q results and production cuts

U.S. electric automakers saw a decline in share prices Tuesday morning following cuts to production forecasts by Lucid Group Inc (NASDAQ: LCID) and Fisker Inc (NYSE: FSR), with Lucid sliding 9% in early trading.

Fisker shares were last down 5.3% after the company reported quarterly results. The company reported 1Q EPS of ($0.38), $0.08 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $198 thousand versus the consensus estimate of $6.33 million. The EV maker also announced... More

General Motors (GM) names Mike Abbott as EVP of software, effective May 22nd

American automaker, General Motors (NYSE: GM) announced Tuesday that Mike Abbott, former vice president of Engineering for Apples Cloud Services division, will join GM as executive vice president, Software, effective May 22, 2023. He will report to GM Chair and CEO Mary Barra.

Abbott brings extensive technology industry experience in cloud computing, storage, networking, security and more at scale. As a... More