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Stock Market & Financial Investment News

News Breaks
June 27, 2014
06:22 EDTDLPHDelphi Automotive says IRS wants company to be treated as domestic
Delphi Automotive disclosed last night that the IRS issued a Notice of Proposed Adjustment asserting that it believes Section 7874(b) applies to Delphi and that the company should be treated as a domestic corporation for U.S. federal income tax purposes, retroactive to October 6, 2009. "If we are treated as a domestic corporation for U.S. federal income tax purposes, we would be subject to U.S. federal income tax on our worldwide taxable income, including distributions, as well as deemed income inclusions from some of our non-U.S. subsidiaries," Delphi said. It added, "Notwithstanding the issuance of the NOPA, we continue to believe, after consultation with counsel, that Delphi should not be treated as a domestic corporation for U.S. federal income tax purposes. We intend to vigorously contest the conclusions reached in the NOPA through the IRSís administrative appeals process, and, if we are unable to reach a satisfactory resolution with the IRS, through litigation. Accordingly, we will continue to prepare and file our financial statements on the basis that we are UK tax-resident. We have not recorded any adjustments with respect to this matter, nor will we record any adjustments in connection with receiving the NOPA. If we are unsuccessful in contesting the IRSís assertion, we would not expect a material cumulative impact to our historical tax position at this time. However, we expect any unfavorable final outcome to adversely impact our tax position by increasing our annualized effective tax rate to approximately 20% to 22%. For the year ended December 31, 2013, our effective tax rate was 17%."
News For DLPH From The Last 14 Days
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October 24, 2014
07:22 EDTDLPHDelphi Automotive sees FY14 CapEx $800M
Sees FY14 adjusted effective tax rate 17%. Sees FY14 depreciation and amortization $600. Sees FY14 cash flow before financing $1.1B. Sees FY14 adjusted operating income margin 11.8%.
07:02 EDTDLPHDelphi Automotive sees FY14 adjusted EPS $5.00-$5.10, consensus $5.04
Sees FY14 revenue $17B-$17.3B, consensus $17.28B.
07:01 EDTDLPHDelphi Automotive reports Q3 EPS ex-items $1.16, consensus $1.13
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October 23, 2014
15:39 EDTDLPHNotable companies reporting before tomorrow's open
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09:34 EDTDLPHDelphi Automotive initiated with a Buy at Buckingham
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October 22, 2014
13:02 EDTDLPHDelphi Automotive exploring sale of Thermal unit, Bloomberg reports
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12:33 EDTDLPHDelphi Automotive looks to sell thermal unit, seeks about $1B, Bloomberg says
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October 21, 2014
10:00 EDTDLPHOn The Fly: Analyst Initiation Summary
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06:27 EDTDLPHDelphi Automotive initiated with a Positive at Susquehanna
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October 14, 2014
10:01 EDTDLPHOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Sell at UBS... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... BHP Billiton (BHP) upgraded to Neutral from Underperform at Credit Suisse... Bill Barrett (BBG) upgraded to Buy from Accumulate at KLR Group... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... CRH Plc. (CRH) upgraded to Buy from Neutral at Citigroup... Comstock Resources (CRK) upgraded to Buy from Accumulate at KLR Group... Cracker Barrel (CBRL) upgraded at Argus... Delphi Automotive (DLPH) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded at Bernstein... Eaton (ETN) upgraded to Overweight from Equal Weight at Barclays... Energizer (ENR) upgraded to Outperform from Market Perform at Wells Fargo... Energy Transfer Equity (ETE) upgraded to Outperform at RW Baird... Federal-Mogul (FDML) upgraded to Neutral from Sell at Goldman... Ford (F) upgraded to Neutral from Underperform at Buckingham... Gulfport Energy (GPOR) upgraded to Accumulate from Hold at KLR Group... Halcon Resources (HK) upgraded to Buy from Hold at KLR Group... HeartWare (HTWR) upgraded to Overweight from Neutral at Piper Jaffray... Helmerich & Payne (HP) upgraded to Outperform at FBR Capital... Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill... Level 3 (LVLT) upgraded to Buy from Hold at Gabelli... Magnum Hunter (MHR) upgraded to Buy from Hold at KLR Group... NetScout (NTCT) upgraded at DA Davidson... Netflix (NFLX) upgraded to Buy with $600 target at BTIG... Newfield Exploration (NFX) upgraded to Buy from Hold at KLR Group... Nielsen (NLSN) upgraded at Bernstein... Orbitz (OWW) upgraded to Outperform from Market Perform at FBR Capital... PDC Energy (PDCE) upgraded to Buy from Hold at KLR Group... Rackspace (RAX) upgraded to Buy from Hold at Evercore... Range Resources (RRC) upgraded to Accumulate from Hold at KLR Group... Rex Energy (REXX) upgraded to Buy from Accumulate at KLR Group... SM Energy (SM) upgraded to Buy from Accumulate at KLR Group... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Targa Resources (TRGP) upgraded to Buy from Accumulate at Tudor Pickering... Unilife (UNIS) upgraded to Buy from Neutral at Ladenburg... Universal Forest (UFPI) upgraded at Sterne Agee.
06:10 EDTDLPHDelphi Automotive upgraded to Buy from Neutral at Goldman
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October 13, 2014
10:06 EDTDLPHAmerican Capital sells Unwired Holdings to Delphi Automotive for $138M
American Capital (ACAS) announced that its portfolio company Unwired Holdings, parent to Unwired Technology, was sold to Delphi Automotive (DLPH). American Capital and its affiliated fund received $176M in debt and equity proceeds and realized a gain of $70M from the transaction, subject to post-closing adjustments. Of the total proceeds, American Capital received $138M in debt and equity proceeds, realizing a gain of $53M from the transaction, subject to post-closing adjustments. American Capital's compounded annual rate of return earned on its debt and equity securities over the life of its investment was 16%, including interest, dividends, realized gains and fees. American Capital received 2.4 times its equity investment and realized a compounded annual rate of return of 17% over the life of its equity investment, including dividends, realized gains and fees.
October 12, 2014
17:27 EDTDLPHBorgWarner, Delphi Automotive, Gentex look cheap, Barron's says
BorgWarner (BWA), Delphi Automotive (DLPH), Gentex (GNTX), look cheap and promising, Barron's contends in a feature article. Reference Link

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