Car sales expected to hit 8-year high this month, Shake Shack to IPO and Fiat Chrysler (FCAU) to place recall

Markets were moving slightly higher on Monday, as trading volume remained light over the holidays. Cars.com released a report that shows the company predicts car sales to hit an eight-year high in December. This report showed that sinking gas prices are helping to fuel demand for SUV’s and trucks. They are predicting that sales will top last year’s by 11.3%, or about 1.5 million. Jesse Toprak, chief analyst with Cars.com, said, “New-car sales are finishing the year on a high note, with total industry sales expected to exceed 16.5 million units in 2014. Bolstered by low gas prices, SUV and full-size truck sales have been particularly strong this month – even beyond normal seasonality.” They are also predicting sales for 2015 to hit 17.1 million. The popular burger chain, Shake Shack, announced that they would be heading towards an initial public offering, in hopes to raise about $100 million. The fast-food company is a made-to-order burger restaurant that is known for providing fresh and natural ingredients, such as hormone and antibiotic free beef. There are currently 63 burger chains throughout the world. Last year, the company posted revenue of $84.5 million, which jumped up 45% from the previous year. They…

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