Volkswagen (VLKAY) widened its lead in China over General Motors Corp. (GM) with a 28% growth in sales as the German automaker maintained its position last year as China’s largest passenger carmaker. Volkswagen outsold U.S. rival GM by 431,064 passenger cars in 2007, compared with 298,507 in 2006. Volkswagen’s China sales last year rose to 910,491 units, exceeding its sales target of 900,000. GM, through its passenger car joint venture, Shanghai General Motors Corp., sold 479,427 vehicles in China in 2007, up 16.9%.
Aeropostale (ARO) said on Thursday that its December sales at stores open at least one year rose by 12.2%. Analysts, on average, had expected its same-store sales to rise 3.7%, according to Thomson Financial. Total sales for the period ended January 5 surged 17.5 percent to $313.5 million from $266.7 million in the 2006 period ended December 30. Aeropostale said it expects to report fourth-quarter earnings of about 87 cents a share, above its prior guidance of 82 cents to 84 cents a share.
Tata motors (TTM), an Indian auto manufacturer whose name is becoming ever more ubiquitous, is likely to unveil an exciting new car this week at the annual auto show in Delhi. Sure the stock plummeted 5.5% in trading today and the car is reported to have the power of an aging Chihuahua, but there is a palatable excitement in the air.
Billionaire investor Kirk Kerkorian’s Tracinda Corp will take a 35% stake in Delta Petroleum Corp. (DPTR), under an agreement for the firm to make a $684 million investment in the energy company and acquire shares at a price representing a 23% premium from Friday’s closing price. Under the deal, Tracinda will buy 36 million shares of Delta stock at $19 a share. Shares of Delta closed Friday at $15.51.
A court ruling could force Qualcomm Inc. (QCOM) to pay patent royalties to rival Broadcom Corp. (BRCM) for the next 13 months to keep selling chips for cell phones that infringe three Broadcom patents. U.S. District Judge James Selna granted Broadcom’s request for a permanent injunction against the Qualcomm products at issue in a patent battle between the two Southern California chipmakers. The judge also added a “sunset provision” to his order, which allows Qualcomm to keep selling the chips through January 2009 if it pays royalties to Broadcom.