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Stock Market & Financial Investment News

News Breaks
January 6, 2014
06:28 EDTF, TM, HMC Ford's China sales surged in 2013, Reuters reports
Ford (F) and its partners saw their sales in China jump nearly 50% last year, according to Reuters. As a result, their sales in the Asian country surpassed those of Toyota (TM) and Honda (HMC), the news service stated. Reference Link
News For F;TM;HMC From The Last 14 Days
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September 15, 2014
07:42 EDTFMorgan Stanley to hold a conference
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06:17 EDTTMMobileye estimates not impacted by Toshiba story, says Deutsche Bank
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September 13, 2014
17:19 EDTFLear strike in Indiana may impact Ford plant in Chicago, WSJ says
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September 12, 2014
16:20 EDTTMOn The Fly: Closing Wrap
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14:16 EDTTMToyota news doesn't affect Mobileye near-term growth potential, says Wells Fargo
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14:01 EDTTMMobileye sinks after report says Toyota likely to use competitor
Shares of Mobileye (MBLY) are falling after the Nikkei newspaper reported today that Toshiba (TOSBF) is going to make many system chips for automatic driver-assist systems, or ADAS. Toyota (TM) will likely incorporate the chips into vehicles it will release in fiscal year 2015, the newspaper added. Mobileye designs software and chips for camera-based advanced ADAS. WHAT'S NEW: Toshiba plans to begin mass producing the ADAS chips - which will analyze images to help cars respond correctly to traffic lights and avoid dangers on the road - in 2015, Nikkei reported. The chips will be placed in safety systems by another company, Denso, before they are shipped to Toyota, Nikkei noted. WHAT'S NOTABLE: On September 9, Citigroup raised its price target on Mobileye to $62 from $48, as the firm was more confident about the company's chances of landing Toyota as a client after attending the first day of the ITS World Congress. Although Toyota is one of the few large auto makers not utilizing Mobileye's technology, the Japanese giant does recognize Mobileye's distinct technological advantages and expects to obtain ADAS components from more suppliers over the medium term, according to the firm, which kept a Buy rating on Mobileye. However, Deutsche Bank expressed some caution on the stock earlier this week when it downgraded the shares on valuation concerns. But the firm said that it continued to be upbeat about the company's long-term prospects. PRICE ACTION: In mid-afternoon trading, Mobileye slumped $2, or 4%, to $52. The shares debuted on August 12 at about $32.
13:11 EDTTMToshiba to supply chips for Toyota driver-assistance systems, Nikkei says
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10:30 EDTFFord recalls Escapes, Focus Sts due to engine wiring defect
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09:41 EDTFFord recalls 74,000 hybrids to fix stalling problem, AP reports
Ford is recalling 74,000 older-model gas-electric hybrid SUVs in the U.S. and Canada to fix a staling problem that causes electronics to overheat, reports the Associated Press. The recall covers Ford Escapes from 2005 through 2008 and Mercury Mariners from 2006-2008. Reference Link
September 11, 2014
15:14 EDTTMToyota says no new or pending projects with Tesla, WSJ reports
After a question about Tesla Motors' (TSLA) soon-to-end deal to supply batteries and drive systems to Toyota (TM) for an electric RAV4 was posed to Tesla CEO Musk, the executive said earlier this week that his company may reach a new partnership with the Japanese company in the next two or three years, but Toyota’s chief U.S. spokeswoman has now told The Wall Street Journal that its RAV4 EV project with Tesla has been "mutually beneficial" but that the companies "currently have no new, or pending projects under discussion.” Reference Link
13:35 EDTFFord's Lincoln to launch Navigator marketing push, Automotive News says
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13:30 EDTTMToyota to recall 130,000 Tundra pickups due to air bag problem
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September 10, 2014
15:27 EDTTMToyota searching for Mexico assembly plant site, Bloomberg reports
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09:17 EDTTM, F, HMCChina mulls easing car dealer restrictions, Bloomberg says
China's Ministry of Commerce is considering whether to ease rules on car dealers and allow them to sell vehicles from multiple brands in the same store, according to Bloomberg, citing people familiar with the matter. Note that both Bitauto (BITA) and Autohome (ATHM), which operate automobile buyer focused websites in China, were down significantly during yesterday's trading, though it is unclear if the reported new regulations play a role in their share weakness. Publicly traded carmakers include Fiat (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
06:06 EDTHMCHonda shows off self-driving car prototype, AP reports
Honda has introduced a self-driving car prototype, an Acura RLX sedan, at the Intelligent Transport Systems World Congress, the Associated Press reports. Honda says the hands-free technology could begin appearing on Honda cars in 2020. Reference Link
September 9, 2014
10:57 EDTTMMobileye climbs after analyst says GM, Tesla using technology
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09:28 EDTTMMobileye price target raised to $62 from $48 at Citigroup
Citigroup raised its price target for Mobileye (MBLY) shares to $62 saying it left day one of the ITS World Congress feeling better about its thesis regarding the company landing Toyota (TM) as a client. Citi says Toyota is one of few remaining large OEMs that has yet to enter production with Mobileye. It believes Toyota recognizes Mobileye’s distinct technological advantages and expects to source more ADAS suppliers over the medium-term. William Blair this morning said it believes Tesla (TSLA) and GM (GM) are using Mobileye for their automated highway driving assist technology while Morgan Stanley upped its price target for shares to $65. The stock is trading up 6% to $56.23 in pre-market trading.
07:17 EDTFThe Wireless Association to hold a conference
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06:09 EDTHMC, F, TMVerizon CEO sees self-driving cars 3-5 years away, Detroit News reports
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06:06 EDTHMCHonda recalls motorcycles due to rear break defect
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