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Stock Market & Financial Investment News

News Breaks
June 2, 2014
07:24 EDTFIATYFiat Chrysler says U.S. operations performance success imperative, Reuters says
Fiat Chrysler CEO Sergio Marchionne noted that a solid performance by its U.S. operations was imperative for the success of the firm's newest business plan, according to Reuters, citing comments from Marchionne. Reference Link
News For FIATY From The Last 14 Days
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September 12, 2014
06:34 EDTFIATYFiat head stays with FY14 outlook, Reuters says
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September 11, 2014
07:05 EDTFIATYFiat head says not looking to include Ferrari in group, Reuters says
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06:54 EDTFIATYJeep head says firm poised to sell 1M cars in FY14, Reuters says
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06:31 EDTFIATYVolkswagen JV, Chrysler unit fined in China for price-fixing, WSJ reports
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September 10, 2014
14:58 EDTFIATYFiat's CEO to become Ferrari chairman
The CEO of Fiat (FIATY), will become the new chairman of Ferrari, replacing Luca Cordero di Montezemolo who is resigning as of October 13, Fiat announced earlier today.
09:17 EDTFIATYChina 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
06:28 EDTFIATYFiat says Ferrari Chairman Luca di Montezemolo resigns
Luca Cordero di Montezemolo is to quit as chairman of Ferrari after 23 years at the company. di Montezemolo says "Ferrari will have an important role to play within the FCA Group in the upcoming flotation on Wall Street. This will open up a new and different phase which I feel should be spearheaded by the CEO of the Group." Thefly notes that Fiat CEO Sergio Marchionne recently said Ferrari's current performance in Formula 1 is "unacceptable."
September 9, 2014
06:09 EDTFIATYVerizon CEO sees self-driving cars 3-5 years away, Detroit News reports
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06:06 EDTFIATYChrysler slashes price of Dodge Viper by $15,000, Detroit News reports
Chrysler has cut the price of its Dodge Viper by $15,000, the Detroit News reports. The slow-selling sports car now costs $84,995, priced comparably to the first-generation Viper. Reference Link
September 8, 2014
13:04 EDTFIATYAugust vehicle sales drop in Russia, WSJ says
The Association of European Businesses said that the sales of new vehicles in August throughout Russia have dropped at the quickest rate so far in 2014, according to The Wall Street Journal, citing a statement from chairman of the AEB Automobile Manufacturers Committee Joerg Schreiber. Industry officials are anticipating sales in the country for 2014 to decrease another 20% after a 5% decline last year. Publicly traded companies in the automobile industry include Fiat (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
September 4, 2014
06:25 EDTFIATYFiat reports exercise of cash exit rights, offer to Fiat shareholders
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September 3, 2014
12:33 EDTFIATYOn The Fly: Midday Wrap
Stocks on Wall Street were higher to begin the day, as reports spurred optimism that a ceasefire agreement between Russia and the Ukraine may soon be reached. The move was short lived, as the averages turned mixed during the second hour of trading. Shares of Apple (AAPL) are weighing down the Nasdaq after an analyst recommended investors take some profits in the stock. ECONOMIC EVENTS: In the U.S., factory orders rose 10.5% in July, which was a bit below the forecast for 11.0% growth. The Fed's Beige Book is scheduled to be released at 2:00 pm ET. In Europe, the final reading of Eurozone services PMI was knocked down to 53.1 from a preliminary 53.5 reading, mirroring the lowering of the Eurozone manufacturing PMI reading yesterday. COMPANY NEWS: Shares of Apple retreated 4% after research firm Pacific Crest advised investors to take some profits in the stock. Pacific Crest analyst Andy Hargreaves forecast the percentage of new iPhone users who buy the next version of the device beyond the iPhone 6 is likely to decline versus prior cycles. The stock likely has only limited room to increase, according to Hargreaves, who said he would probably downgrade Apple unless new products that can generate billions of dollars in new operating profit are launched at its September 9 event... Carmakers reported on August vehicle sales in the U.S., with Chrysler (FIATY) reporting a 20% increase, Ford stating that sales rose slightly compared to the prior year and General Motors (GM) posting a 1.2% decline in sales. MAJOR MOVERS: Among the notable gainers was Infinity Pharmaceuticals (INFI), which jumped 46% after the company announced a cancer drug collaboration with AbbVie (ABBV) and a master clinical supply agreement with Roche (RHHBY). Also higher was Mobileye (MBLY), which gained nearly 10% after Morgan Stanley wrote that the stock could rise "towards $100" if the company maintains its current market, gross margins and earnings position. Mobileye is scheduled to report on its second quarter results tomorrow morning, which will be its first quarterly report since its August IPO. Among the noteworthy losers was Repros Therapeutics (RPRX), which dropped 15% after newly posted FDA briefing documents regarding a panel on T-normalizing therapies prompted Piper Jaffray to downgrade the stock to Neutral from Overweight. Also lower following its earnings report was apparel company Vince Holding (VNCE), which fell 11%. INDEXES: Near midday, the Dow was up 33.71, or 0.2%, to 17,101.27, the Nasdaq was down 23.24, or 0.51%, to 4,574.95, and the S&P 500 was down 0.64, or 0.03%, to 2,001.64.
08:19 EDTFIATYChrysler sees August U.S. industry SAAR of 17.4M
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08:18 EDTFIATYChrysler ends August with 64 days supply inventory
Chrysler Group finished the month of August with a 64 days supply of inventory, or 471,930 units.
08:17 EDTFIATYChrysler reports August U.S. sales up 20% to 198,379 units
Chrysler Group reported U.S. sales of 198,379 units, a 20% increase compared with sales in August 2013 and the group's best August sales since 2002. The Chrysler, Jeep, and Ram Truck brands each posted year-over-year sales gains in August compared with the same month a year ago.
September 2, 2014
06:43 EDTFIATYFiat-Chrysler sees New York stock market listing on October 13, Reuters reports
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