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Stock Market & Financial Investment News

News Breaks
April 9, 2014
10:25 EDTAXL, AXL, AXL, TEN, TEN, TEN, LEA, LEA, LEA, JCI, JCI, JCI, GNTX, GNTX, GNTX, GM, GM, GM, F, F, F, DAN, DAN, DAN, BWA, BWA, BWA, X, X, XBofA/Merrill's US autos/auto parts analyst has analyst/industry conference call
U.S. Autos/Auto Parts Analyst Murphy discuss the global supplier industry, major trends in the supplier industry and investment implications on an Analyst/Industry conference call. Relevant companies AXL, BWA, DAN, F, GM, GNTX, JCI, LEA, TEN and X may be included on the Analyst/Industry conference call to be held on April 11 at 10 am.
News For AXL;BWA;DAN;F;GM;GNTX;JCI;LEA;TEN;X From The Last 14 Days
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January 22, 2015
07:08 EDTJCIJohnson Controls agrees to form joint venture with Hitachi
Johnson Controls (JCI), Hitachi (HTHIY) and Hitachi Appliances have signed a definitive agreement on January 21 to form a previously announced global joint venture that will bring customers world-class variable refrigerant flow technology, as well as room air conditioners and absorption chillers to meet increasing demands for energy efficient air conditioning options. The Johnson Controls-Hitachi joint venture is expected to have 2016 sales of approximately $3.0B. The formation of the joint venture is expected to close in the fourth quarter of fiscal 2015, pending regulatory approvals.
07:07 EDTJCIJohnson Controls backs FY15 EPS view $3.55-$3.70, consensus $3.60
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07:06 EDTJCIJohnson Controls sees Q2 EPS 74c-76c
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07:06 EDTJCIJohnson Controls reports Q1 EPS ex-items 79c, consensus 77c
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07:00 EDTTENTenneco initiated with a Neutral at Credit Suisse
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January 21, 2015
20:11 EDTJCIJohnson Controls, Hitachi to form global HVAC joint venture
Johnson Controls (JCI), Hitachi, Ltd. (HTHIY) and Hitachi Appliances entered into a definitive agreement for their global joint venture while at the World Economic Forum in Davos, Switzerland. Through the agreement, Johnson Controls will obtain a 60% ownership stake in Hitachi Appliances' more than $2.6B global air conditioning business, excluding sales and service operations in Japan. The Johnson Controls-Hitachi joint venture will bring customers a full range of air conditioning products, including variable refrigerant flow technology, inverter technology based room air conditioners and absorption chillers – on top of existing Johnson Controls products that meet global customer demands.
19:18 EDTGM, FLower oil prices could boost car and truck sales, CNBC reports
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18:07 EDTXU.S. Steel to idle plants, cut headcount, WSJ says
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15:27 EDTJCINotable companies reporting before tomorrow's open
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13:54 EDTGMJPMorgan could lose $1.5B as a result of 2008 error, Reuters says
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13:53 EDTGM, FGoldman cuts rating on auto dealers citing below consensus U.S. sales view
Goldman Sachs lowered its outlook on auto dealers to Cautious from Neutral, citing several factors, including its belief that U.S. auto sales growth will be "essentially flat" this year. The firm also downgraded its rating on one of the companies in the sector, AutoNation (AN), to Neutral from Buy and removed the stock from its Americas Buy List. WHAT'S NEW: U.S. auto sales will probably rise less than 1% this year on a seasonally adjusted basis, Goldman analyst Patrick Archambault wrote in a note to investors today. Archambault indicated that his U.S. auto sales estimate is significantly below analysts' consensus outlook. Incentive deals and sales to subprime customers last year will probably negatively affect sales growth this year, the analyst stated. Additionally, the growth of dealers' revenue from parts and service is likely to slow this year after a series of major auto recalls were carried out last year, Archambault warned. Dealers may also be hurt by the regulation of auto lenders by the Consumer Financial Protection Bureau, since lenders and dealers split the profits from interest rate markups, the analyst stated. Finally, dealers are trading at a valuation that is 13% above their ten year average, according to Archambault. The analyst cut his rating on AutoNation to Neutral from Buy, based partly on valuation and his belief that the stock's near-term catalysts have diminished after it implemented a rebranding strategy and enhanced its digital systems. Over the medium term, the company's growth prospects will be limited by weak U.S. auto sales growth this year, added Archambault. However, the analyst continues to identify AutoNation as his favorite auto dealer stock. Other auto dealers covered by the analyst include Penske (PAG), which he rates Neutral, and Group 1 (GPI) and Sonic Automotive (SAH), both of which are rated Sell by the analyst. WHAT'S NOTABLE: Automakers whose shares could be negatively affected if the analyst's forecast for anemic U.S. sales growth proves to be accurate include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). PRICE ACTION: In mid-afternoon trading, AutoNation lost 1.2% to $57.12, Sonic Auto lost 1% to $25.18, Group 1 fell 2.5% to $77.40, and Penske climbed 1% to $47.09.
09:41 EDTXUS Steel volatility elevated into Q4 and outlook
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06:52 EDTFRegulators deciding whether Ford should widen recall, Reuters says
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January 20, 2015
18:30 EDTDANOn The Fly: After Hours Movers
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17:18 EDTDANDana Holding to replace Cubist in S&P 400 as of 1/22 close
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08:59 EDTGMGM receives 108 new ignitition claims, $400M earmarked for cases, Reuters says
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05:23 EDTFFord Mustang now available in China
For the first time in its 50-year history, Mustang will be available to customers around the world in more than 100 markets. First shipments of the highly anticipated Mustang are headed for Asia, with vehicles arriving in Europe midyear. The all-new Mustang – assembled in Flat Rock, Michigan – now joins other Ford and Lincoln vehicles exported to countries abroad. In 2013, Ford shipped more than 380,000 vehicles from the United States.
January 18, 2015
17:46 EDTFNHTSA probes Ford recall of its Super Duty pickups, Bloomberg says
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January 16, 2015
08:14 EDTFFord to boost production at German assembly plants, WSJ reports
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06:29 EDTGMJudge rules GM lawyer notes protected by attorney-client privilege, Reuters says
U.S. District Judge Jesse Furman ruled that plaintiffs’ lawyers suing General Motors could not access notes prepared by the company's lawyers, to prepare an internal report on the ignition-switch flaw, due to those notes being protected under attorney-client privilege, reports Reuters. Reference Link
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