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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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October 1, 2015
09:05 EDTGMGeneral Motors outlines plans on future of personal mobility
General Motors (GM) CEO Mary Barra and her leadership team outlined the company's plans to capitalize on the future of personal mobility. GM also said it plans to strengthen its core business through global growth initiatives and an aggressive product launch cadence. As a result, the company expects to increase its earnings per share and generate significant shareholder value. The company shared its plans with investors during a conference at its Milford Proving Ground. GM announced that late in 2016 it will add a fleet of 2017 Chevrolet Volts designed to drive autonomously within its renovated Warren Technical Center campus. GM also announced two new car- and ride-sharing projects, one in New York City operating today and one to come in first quarter next year in another U.S. city. In collaboration with Honda, it is developing a next-generation hydrogen fuel cell stack and hydrogen storage systems. GM confirmed its plans to jointly develop a commercially viable fuel cell vehicle with Honda (HMC) in the 2020 timeframe. The company expects to grow its business over the next five years through key initiatives including a $5 billion investment in an all-new Chevrolet growth market vehicle family; maintaining a strong market position in China by enhancing its presence in SUV and luxury segments; expanding Cadillac's vehicle portfolio into growing luxury segments; continuing the growth of GM Financial through the expansion of services globally, and expanding aftersales and OnStar revenue opportunities globally. In the same timeframe, GM plans to introduce a large number of all-new or refreshed vehicles globally. In 2015, about 26 percent of GM's global sales volume has come from vehicles new or refreshed within the previous 18 months. This percentage is projected to be 39 percent in 2016, 40 percent in 2017, 31 percent in 2018, and reach 40 percent in 2019 and 2020. GM is also accelerating its efforts to drive further cost efficiencies across the value chain, with a focus on enhancing overall value for its customers. The company said it expects to generate benefits of approximately $5.5 billion in purchasing, manufacturing and administration expense between 2015 and 2018, more than offsetting increased investments in brand development and technology.
08:36 EDTFMarathon Patent subsidiary receives favorable order against Ford, Fiat Chrysler
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08:33 EDTJCIVersar closes acquisition of Johnson Controls Security Systems
Versar, (VSR) announced that it has completed the acquisition of Johnson Controls' (JCI) specialized federal security integration business, formerly known as Johnson Controls Security Systems. JCSS is a security systems integrator serving Federal clients by designing, installing and supporting complex physical security, network security, and facilities management systems. The purchase price of $20M was paid with a combination of cash and contingent consideration. Further, Versar has put in place a new banking relationship with Bank of America to support both the acquisition and ongoing working capital needs. JCSS, which will now be known as Versar Security Systems, is headquartered in Gaithersburg, Maryland, generated approximately $34less than in trailing twelve month revenues from key long term customers such as the Federal Aviation Administration and the Federal Emergency Management Agency.
05:56 EDTF, GMTrueCar boosts 2015 U.S. sales forecast to 17.4M from 17.2M
TrueCar (TRUE) raised its 2015 annual forecast by 200,000 units to 17.4 million as sales growth in the remaining months of 2015 is poised to remain vigorous. New auto sales in September, aided by a later-than-usual Labor Day, should expand by 12.6 percent from a year ago, while the Seasonally Adjusted Annual Rate should reach 17.7 million units. That strength underpins TrueCar's revised full-year industry forecast of 17.4 million units, the highest volume since 2000. Retail share of the total industry likely expanded a full point in September versus last year, indicating busier-than-average showrooms. Confident consumers are expected to push new vehicle revenue to a record $45 billion for the month, up 13.2 percent versus the same period last year. Publicly traded companies in the space include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM), Daimler (DDAIF) and Volkswagen (VLKAY). TrueCar EVP Larry Dominique commented, "Volkswagen's stop sell of diesel vehicles in the U.S. causes a noticeable hit to its September revenue, with a 7.7 percent decline. We expect sales to dip by at least by 5 percent and incentives to increase by $235 per unit, which will be essential to push non-impacted models off the lots."
05:33 EDTJCIJohnson Controls, Hitachi complete global air conditioning JV
Johnson Controls (JCI), Hitachi (HTHIY) and Hitachi Appliances announced the companies have completed their global joint venture agreement and will immediately commence operations of Johnson Controls-Hitachi Air Conditioning to provide global customers with a full range of world class air conditioning products and technology. Through the agreement, Johnson Controls has acquired a 60% ownership stake of the new entity, which has more than approximately $2.8B in sales, annually. Hitachi Appliances retains ownership of the remaining 40% of the company. The joint venture has approximately 14,000 employees and 24 global locations dedicated to design, engineering and manufacturing throughout Asia, Europe and Latin America. It will build on both organizations' technology, research and development leadership, as well as expanding marketing channels.
September 30, 2015
15:45 EDTGMGeneral Motors to hold a conference call
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11:57 EDTFFord issues 5 safety recalls and one safety compliance recall in North America
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10:00 EDTJCIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Analog Devices (ADI) upgraded to Buy from Neutral at Citi... Asbury Automotive (ABG) upgraded to Neutral from Underperform at BofA/Merrill... Brookfield (BAM) upgraded to Outperform from Market Perform at BMO Capital... CNOOC (CEO) upgraded to Buy from Hold at Jefferies... Canadian Pacific (CP) upgraded to Buy from Neutral at Goldman... Citizens Financial (CFG) upgraded to Buy from Neutral at UBS... Esperion (ESPR) upgraded to Neutral from Sell at Chardan... HSBC (HSBC) upgraded to Buy from Neutral at UBS... Hecla Mining (HL) upgraded to Outperformer from Sector Performer at CIBC... Johnson Controls (JCI) upgraded to Outperform from Market Perform at William Blair... Level 3 (LVLT) upgraded to Buy from Neutral at UBS... Madison Square Garden (MSG) upgraded on asset value, share buyback outlook at Stifel... Medivation (MDVN) upgraded to Market Perform from Underperform at Cowen... PHH Corp. (PHH) upgraded to Buy from Neutral at Compass Point... Post Holdings (POST) upgraded to Buy from Neutral at SunTrust... Ralph Lauren (RL) upgraded to Buy from Neutral at UBS... Regions Financial (RF) upgraded to Buy from Hold at Sandler O'Neill... Shire (SHPG) upgraded to Hold from Reduce at HSBC... Sinopec (SNP) upgraded to Buy from Hold at Jefferies... Verifone (PAY) upgraded to Buy from Hold at Argus.
10:00 EDTXBofa/Merrill global metals/mining analysts hold analyst/industry conference call
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09:05 EDTGMGeneral Motors and Navistar reach long-term commercial vehicle agreement
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07:03 EDTJCIJohnson Controls upgraded to Outperform from Market Perform at William Blair
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September 29, 2015
06:17 EDTF, GMFiat Chrysler labor deal faces resistance, NY Times reports
Fiat Chrysler's (FCAU) tentative deal with the United Auto Workers union has seen resistance in early voting, with several plants rejecting the deal outright, the New York Times says. Voting at some of the largest plants will start Tuesday, and that fate of the proposed four-year deal will be determined by the middle of the week, the report says. Opponents to the deal have said that it does not offer any clear path for lower-tier workers to reach the highest levels of hourly play and fails to limit the number of entry-level workers, the report says. Fiat Chrysler's deal with its auto workers is viewed as a template for labor talks that General Motors (GM) and Ford (F) will have with their workers, the report says. Reference Link
September 28, 2015
18:51 EDTGMGM CEO plans increased focus on connectivity, autonomous driving, Reuters says
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07:11 EDTBWA, TENAuto parts makers defend diesel amid Volkswagen scandal, WSJ reports
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September 27, 2015
12:33 EDTGNTX, BWAAuto suppliers look like bargains after Volkswagen scandal, Barron's says
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September 25, 2015
09:17 EDTBWA, TENAuto suppliers decline on Volkswagen fears overdone, says Wells Fargo
Wells Fargo says that a 10% decline in diesel's market share in Europe would only reduce the annual EPS of Tenneco (TEN0, BorgWarner (BWA) and Delphi (DLPH) by 1%-5%, while the stocks have fallen by a median of 10.2% since September 17. The firm does not expect Volkswagen (VLKAY) sales to drop tremendously. It views fears about BorgWarner and Tenneco as "way overdone," and says that Delphi's weakness is also unjustified.
09:05 EDTGMGeneral Motors volatility elevated
General Motors October weekly call option implied volatility is at 34, October and November is at 33; compared to its 52-week range of 14 to 36, suggesting large near term price movement.
06:34 EDTGMGM CEO again rejects idea of merger with Fiat Chrysler, WSJ reports
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06:07 EDTGMGM CEO says pursuing profit margins, not market share, WSJ reports
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05:39 EDTXU.S. Steel implied volatility of 79 at upper end of index mean range
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