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Auto Industry Merger on the Horizon? Fiat Chrysler Looks to GM for Deal

July 9, 2023
in Trade Tube
Reading Time: 1 min read
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Now this would be a blockbuster deal-General Motors (GM) merging with Fiat Chrysler Chrysler CEO Sergio Marchionne like the idea and is prodding hedge funds and other allies to pressure General Motors to do a deal. Those who support a merger say consolidation is needed in the auto industry. But others say it’s a desperate move from Fiat Chrysler and would never get regulatory approval. General Motors has a shareholders meeting today. Lululemon Athletica (LULU) the yogawear maker, boosted its full-year outlook and reported first-quarter profit that topped analysts’ estimates as fashion-focused merchandise boosted sales. Chief Executive Officer Laurent Potdevin is complementing Lululemon’s workout staples with products that place more emphasis on fashion — like leggings with mesh insets and floral patterns — in a bid to appeal to shoppers who wear athletic gear outside the gym. The retailer also is expanding internationally and broadening its collection of men’s clothing.Shares of United Natural Foods (UNFI) fell in aftermarket trading Monday after the company reported disappointing results in its fiscal third quarter.The Providence, Rhode Island-based organic and specialty foods distributor also reduced its annual profit and revenue estimates

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