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Stock Market & Financial Investment News

News Breaks
March 24, 2014
08:16 EDTBWA, TMBorgWarner named North Amerifcan supplier for Toyota Tundra
Along with other new business, this award from Toyota is expected to create more than 150 regular full-time jobs at the BorgWarner plant, which currently employs over 650 people.
News For BWA;TM From The Last 14 Days
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October 8, 2015
08:28 EDTBWAAuto supplier stocks likely to get bid, says Wells Fargo
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October 6, 2015
12:55 EDTTMToyota to sell highway self-driving cars by 2020 in Japan, Financial Times says
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October 4, 2015
19:47 EDTTMAutomakers ask for easier European emissions tests, NY Times says
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October 2, 2015
07:34 EDTTMToyota recalling 423,456 2009-2012 RAV4 vehicles
Toyota Motor Engineering & Manufacturing is recalling 423,456 model year 2009-2012 RAV4 vehicles manufactured October 27, 2008, to December 19, 2012 and 2012-2014 RAV4 EV vehicles manufactured July 24, 2012, to August 29, 2014. In the affected vehicles, water may drip onto the joint the connects the wiper linkage to the wiper motor. Over time, the dripping water may cause corrosion and wear at the joint, potentially resulting in the separation of the wiper linkage. Once this occurs, the wipers would not function, reducing driver visibility and increasing the risk of a crash.
October 1, 2015
11:14 EDTTMToyota reports September U.S. sales up 16.2% to 194,370 units
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11:09 EDTTMToyota reports September U.S. sales up 16.2%, Bloomberg says
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05:56 EDTTMTrueCar 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."
September 28, 2015
07:11 EDTBWAAuto parts makers defend diesel amid Volkswagen scandal, WSJ reports
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September 27, 2015
12:33 EDTBWAAuto suppliers look like bargains after Volkswagen scandal, Barron's says
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September 25, 2015
09:17 EDTBWAAuto 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.
September 24, 2015
11:12 EDTBWAAnalyst says Delphi pushed to 'attractive' level by Volkswagen scandal
The shares of auto equipment maker Delphi (DLPH) are falling nearly 4% this morning and have tumbled over 8% week-to-date in the wake of the Volkswagen (VLKAY) emissions scandal. In a note to investors today, RBC Capital recommended that investors buy Delphi shares at current levels, saying that the impact of the Volkswagen news on Delphi "appears limited." WHAT'S NEW: After meeting with Delphi's CEO and treasurer, RBC Capital analyst Joseph Spak says that Delphi parts are not incorporated into any light vehicles with diesel engines in the U.S., while Volkswagen accounts for only about 1% of Delphi's overall powertrain business. Delphi could be hurt if European consumers stop buying diesel powered vehicles, according to Spak, who noted that Delphi generates double the revenue from diesel vehicles than it gets from gasoline vehicles. Such a scenario, however, is unlikely to play out and the company would see higher revenue from gasoline engines if it does occur, according to Spak. Addressing the company's outlook in China, Spak lowered his third quarter and full-year operating income estimates for the auto maker "towards the low end" of its guidance. However, he noted that Delphi "does seem to be confident" that it can meet its earnings per share guidance even if its production in China is flat in the second half of this year, the analyst stated. Moreover, Delphi suggested that its China business appears to be stabilizing, while some automakers are increasing their fourth quarter orders from previous levels, he wrote. Spak cut his price target on the stock to $91 from $93 but kept an Outperform rating on the shares. WHAT'S NOTABLE: Yesterday, Spak wrote that the decline of auto suppliers with exposure to Volkswagen's powertrain could be overdone. In addition to Delphi, he identified Magna (MGA) as having exposure to Volkswagen's powertrains. BorgWarner (BWA) would only lose 7c of EPS if all sales of cars with 1.5M Volkswagen engines disappear, the analyst added. PRICE ACTION: In morning trading, Delphi dropped 3.7% to $71.36, while Magna fell 5.7% to $43.64 and BorgWarner declined 3.7% to $37.54.
06:39 EDTBWABorgWarner volatility elevated on exposure to Volkswagen
BorgWarner (BWA) October call option implied volatility is at 40, January is at 37; compared to its 52-week range of 19 to 43, suggesting large near term price movement on the auto suppliers exposure to Volkswagen (VLKAY).

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