Tom Terrarosa covers the energy and industrial sectors for The Deal, focusing on middle market M&A and private equity. Tom also produces The Deal's M&A Tipsheet newsletter and manages The Deal's auctions and M&A Opportunity database, which tracks hundreds of ongoing auction processes and identifies potential takeover opportunities across all industries.
Prior to joining The Deal, Tom was a regional digital producer with Gannett, where his primary responsibilities included editing and optimizing content for the company's six New Jersey newspapers and five affiliated websites. He also has worked as a local news reporter, copy editor and photographer with The Dominion Post in Morgantown, W.Va.
Tom received a Bachelor of Science in Journalism from West Virginia University.
Find Tom on Twitter: @TomTerrarosa
The company reported earnings and revenue for the first quarter that were roughly in line with consensus estimates, but did not provide much new color on an unfavorable tax allowance decision from federal regulators.
The company has taken deposits for vehicles that are not even currently being produced and features it has not fully developed.
The Detroit automaker also crushed analysts' expectations for revenue even as it announced a day earlier that its sales declined by 3% during the period.
The conglomerate reports earnings of $2.50 per share on revenue of $8.3 billion, citing strong organic growth for the quarter.
The oil cartel has done well to stabilize oil prices over the past 15 months, but the latest commodity spike could have more to do with geopolitical concerns brought about by the president himself.
The oilfield services firms appear set to profit from a rebounding industry, though some comments from the global leaders indicate troubles could be on the horizon for U.S. shale production.
GE has restated its financials for the past two years, faces a massive $31 billion pension deficit, has liquidity concerns rising from the long-term health obligations of its largely divested GE Capital unit and will likely revise earnings guidance down for the year. Investors probably can't handle much more.
Analysts have curbed their expectations for oilfield services earnings over the past two months largely due to sand shortage issues that may lead to fewer completions by many of these companies.
After a mass exodus from the space in recent years amid the worst commodity downturn in decades, investors are finally thinking about energy stocks, including oilfield services firms.
The move comes after a years-long push by Sergio Marchionne to see his company acquired by another of the world's major automakers.
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