SEOUL, South Korea and LAS VEGAS, April 30, 2025 /PRNewswire/ -- On April 8, 2025, General Motors presented HL Mando with a 2024 Supplier of the Year Award at GM's 33rd annual Supplier of the Year event in Phoenix, Arizona. (From the left) Min-Chul Lee (Head of Production Engineering team, HL Mando America Jeff Pontius (Director of Brake R&D, HL Mando America), Alison Ellis (Director of Sales, HL Mando America) Jason (Jae-hyuk) Kim (Head of Americas Region, HL Mando), Jeff Morrison (Global Chief Procure ...

Core Points - Dassault Systèmes will hold its Combined Shareholders' Meeting on May 22, 2025, at 3:00 pm at its headquarters in Vélizy-Villacoublay [2] - The preliminary notification with the agenda and draft resolutions was published on April 14, 2025, and is available on the company's website [3] - Additional documents and information related to the meeting are accessible to shareholders on the company's website and at its headquarters [4] - Shareholders are encouraged to review the 2024 Universal Registration Document, filed on March 18, 2025, which contains significant information as per the French Commercial Code [5] Company Overview - Dassault Systèmes has been a pioneer in creating virtual worlds since 1981, aiming to enhance real-life experiences for consumers, patients, and citizens [6] - The company offers the 3DEXPERIENCE platform, which serves 370,000 customers across various industries, facilitating collaboration and sustainable innovation [6]

Core Viewpoint - UPS announced plans to lay off 20,000 employees to reduce costs, reflecting broader economic challenges faced by various companies in the first quarter of the fiscal year [1] Group 1: Company Actions - UPS is implementing a significant workforce reduction of 20,000 employees as part of its cost-cutting measures [1] Group 2: Industry Trends - In the first two weeks of the earnings season, approximately 40 companies globally have withdrawn or lowered their earnings forecasts for 2025, indicating a trend of caution among major corporations [1] - Companies that adjusted their earnings outlook include General Motors, Volvo, Kraft Heinz, Logitech, and JetBlue, highlighting a widespread impact across various sectors [1]

Core Points - Hammond Manufacturing Company Limited held its Annual General Meeting on April 29, 2025, in Guelph, Ontario, and announced the voting results in accordance with Toronto Exchange requirements [1] - Shareholders approved all items of business, including the appointment of KPMG LLP as outside auditors and the election of all director nominees [2] Election of Directors - Seven nominees were elected as directors until the next annual meeting or until their successors are appointed, with the following voting results: - Robert F. Hammond: 14,684,459 votes for (96.87%) [3] - Edward Sehl: 15,097,329 votes for (99.59%) [3] - Paul Quigley: 15,097,287 votes for (99.59%) [3] - Sheila Hammond: 14,649,413 votes for (96.64%) [3] - Michael Fricker: 15,097,349 votes for (99.59%) [3] - Sarah Hansen: 14,653,313 votes for (96.66%) [3] - Blaine Witt: 15,097,349 votes for (99.59%) [3] Appointment of Auditors - KPMG LLP was appointed as auditors for the fiscal year ending December 31, 2025, with the Directors authorized to fix their remuneration [4] Company Overview - Hammond Manufacturing Company Limited manufactures a wide range of products for the electronic and electrical products industry, including metallic and non-metallic enclosures, racks, small cases, outlet strips, surge suppressors, and electronic transformers [5]

Core Viewpoint - General Motors (GM) has announced a significant recall of approximately 877,000 full-size trucks and SUVs due to potential internal defects in the 6.2-liter V-8 engine, which could lead to serious engine damage or failure [1][4][6]. Group 1: Recall Details - The recall affects a range of high-demand models from the 2021 through 2024 model years, including the Cadillac Escalade, Chevrolet Silverado 1500, Suburban, Tahoe, and GMC Sierra 1500, Yukon, and Yukon XL [5][6][12]. - The issue is attributed to internal manufacturing defects involving key engine components such as the crankshaft and connecting rods, which may have been damaged during production [6][8]. - GM has mandated inspections for all recalled vehicles, with engines passing inspection receiving an oil filter and oil cap replacement, along with a switch to higher-viscosity 0W-40 motor oil [8][9]. Group 2: Financial Impact - GM's stock fell by nearly 2% following the recall announcement and the company's decision to pull its earnings guidance for 2025, alongside freezing $4 billion in share buybacks due to uncertainties related to tariffs [1][5]. - In the most recent quarter, GM reported an EBITDA of $3.49 billion, surpassing analyst estimates of $3.45 billion but lower than the $3.87 billion reported in the same period the previous year [4]. Group 3: Regulatory and Customer Communication - The recall follows an investigation by the National Highway Traffic Safety Administration (NHTSA), which received at least 39 complaints related to engine failures in GM vehicles with the 6.2-liter V-8 engine [12][13]. - GM will notify owners of the recalled vehicles in the coming weeks with instructions on how to proceed [14].

Core Points - The Annual General Meeting (AGM) of Husqvarna AB was held on April 29, 2025, where shareholders could attend physically or via advance voting [1] - The profit and loss statements and balance sheets were adopted, with a dividend of SEK 1.00 per share approved, to be paid in two installments [1] - The Board of Directors' proposal for the composition of the Board was approved, with nine members elected, including new members Claes Boustedt, Marlies Gebetsberger, and Magnus Jarlegren [2] - The total remuneration for the Board was set at SEK 8,490,000, with specific amounts allocated to the Chair and other members [3] - KPMG was elected as the auditor for the period until the next AGM, with fees based on approved invoices [4] - The AGM approved the renewal of remuneration guidelines for Group Management and the Remuneration Report [5] - A performance-based long-term incentive program for 2025 was approved, along with authorization for equity swap arrangements to hedge obligations [6] - The Board was authorized to issue up to approximately 57.6 million new B-shares for acquisitions, with pricing based on market value [7] Company Overview - Husqvarna Group is a global leader in innovative solutions for managing forests, parks, and gardens, as well as cutting equipment and diamond tools for construction and stone industries [9] - The company reported net sales of SEK 48.4 billion in 2024 and employs approximately 12,300 people in 40 countries [9]

Core Points - The Annual General Meeting of Alfa Laval AB was held on April 29, 2025, where the Chairman and CEO presented the company's performance and strategic direction for the future [1][2] Financial Performance - The year 2024 was marked by record high invoicing and order intake, driven by strong demand for sustainable solutions across all divisions [2] - The income statement and balance sheet for 2024 were approved by the Annual General Meeting [3] Dividend Declaration - A dividend of SEK 8.50 per share was resolved, with a record date of May 2, 2025, and payment expected on May 7, 2025 [4] Board of Directors - The number of Board members was set to ten, with Dennis Jönsson re-appointed as Chairman [5][6] - Annica Bresky was elected as a new member of the Board, with all members elected for the term until the end of the 2026 Annual General Meeting [6] Auditors - The Annual General Meeting re-elected Andreas Troberg and Hanna Fehland as auditors, with Henrik Jonzén and Andreas Mast as deputy auditors for the upcoming year [7] Compensation - Compensation for the Board was set at SEK 2,190,000 for the Chairman and SEK 730,000 for other non-employee members, along with specific amounts for Audit and Remuneration Committee members [8]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Economic Indicators - The Advance Trade Balance for March reached an all-time low of -$162 billion, worsening from an adjusted -$147.8 billion the previous month, indicating a significant decline since the last presidential election [2] - Advance Retail Inventories fell to -0.1% in March, contrary to expectations of +0.4%, marking a continued downward trend since July of the previous year [3] - Advance Wholesale Inventories increased by +0.5%, slightly below the +0.6% consensus estimate, matching the revised February figure [4] Company Earnings Reports - PayPal (PYPL) reported Q1 earnings of 92 cents per share, exceeding the expected 64 cents, but revenues fell short by -0.88% to $13.72 billion [5] - General Motors (GM) achieved Q1 earnings of $2.78 per share, surpassing the $2.69 estimate, with revenues of $44.02 billion exceeding expectations by +3.57% [6] - Honeywell (HON) reported earnings of $2.51 per share, beating estimates by +13.57%, with quarterly sales of $9.82 billion, a +2.59% increase [7] - Spotify (SPOT) missed Q1 earnings expectations significantly, reporting earnings of $1.13 per share compared to the expected $2.29, with revenues of $4.41 billion falling short by -4.08% [8] Market Expectations - Job Openings and Labor Turnover Survey (JOLTS) results are anticipated to show a decline from 7.57 million to approximately 7.5 million [10] - Consumer Confidence for April is expected to drop to 87.3 from 92.9 in March, reflecting concerns over the economic outlook and high prices [11] - Upcoming earnings reports from major companies like Visa, Starbucks, Seagate Technologies, and Snap are expected, with significant reports from Microsoft and Meta Platforms starting Wednesday [12]

Core Insights - General Motors (GM) reported first-quarter 2025 adjusted earnings of $2.78 per share, exceeding the Zacks Consensus Estimate of $2.69 and up from $2.62 in the same quarter last year [1] - Total revenues reached $44.02 billion, surpassing the Zacks Consensus Estimate of $42.5 billion and increasing from $43.01 billion year-over-year [1] Financial Performance - Adjusted earnings before interest and taxes (EBIT) for GM was $3.49 billion, down from $3.87 billion in the prior-year quarter [2] - GM's market share increased to 8.4% from 8.1% year-over-year [2] Segmental Performance - GM North America (GMNA) generated net revenues of $37.39 billion, up from $36.10 billion in the same period of 2024, with wholesale vehicle sales totaling 827,000 units, an increase from 792,000 units year-over-year [3] - GM International (GMI) reported net revenues of $2.43 billion, down from $3.08 billion in the prior year, with wholesale vehicle sales decreasing to 85,000 units from 104,000 units [4] - GM Financial's net revenues increased to $4.16 billion from $3.81 billion year-over-year, while adjusted EBIT was $685 million, down from $737 million [5] - GM Cruise recorded net revenues of $1 million, significantly lower than $25 million in the prior year, but the operating loss narrowed to $273 million from $442 million [6] Financial Position - As of March 31, 2025, GM had cash and cash equivalents of $20.57 billion and long-term automotive debt of $13.44 billion [6] - Net automotive cash provided by operating activities was $2.4 billion, with adjusted automotive free cash flow at $811 million, down from $1.09 billion year-over-year [6]