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May 18, 2014
14:41 EDTJCIJohnson Controls to create automotive-interiors business JV with China partner
Johnson Controls (JCI), and Yanfeng Automotive Trim Systems, a wholly owned subsidiary of Huayu Automotive Systems, the component group of Shanghai Automotive Industry Corporation, SAIC, announced the signing of a definitive agreement to form a global automotive interiors joint venture. The agreement is a noncash transaction comprised of asset contributions by the two parties that will create the largest automotive interiors company in the world with revenues of approximately $7.5B. Yanfeng will hold the majority 70% share in the joint venture, and Johnson Controls will have a 30% share. "Joining our two interiors businesses is a natural extension of our already very successful existing partnership with Yanfeng in automotive seating, which has flourished over the past 15 years. It creates a strong combined company with a market leading position and a foundation for sustained global growth," said Alex Molinaroli, Johnson Controls chairman and chief executive officer. "This also aligns with Johnson Controls' corporate commitment to China, which is increasingly becoming a major center for the global automotive industry."The new company will be headquartered in Shanghai with global engineering, development and customer centers in the United States, Europe, China, Japan and India. The product portfolio will include instrument panels and cockpit systems, door panels and floor consoles. The transaction is subject to limited conditions and is expected to close in the first half of calendar year 2015. The agreement excludes certain facilities in both Yanfeng and Johnson Controls' existing networks. Johnson Controls will continue to operate those within its network as part of Johnson Controls' Automotive Experience business. Johnson Controls will host an analyst call Monday, May 19 at 3 p.m. CDT.
News For JCI From The Last 14 Days
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July 24, 2015
12:09 EDTJCIJohnson Controls says Latin America continues to be problem
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12:07 EDTJCIJohnson Controls expects Automotive to be seperated in 12 months
12:04 EDTJCIJohnson Controls acknowledges China market is slowing down
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10:50 EDTJCIJohnson Controls narrows FY15 EPS view to $3.38-$3.41 from $3.30-$3.45
Consensus $3.41. Johnson Controls expects GWS divestiture net proceeds of about $1.3B in Q4 and continues to target $1.5B in FY15 free cash flow. Guidance in slides for Q3 earnings call.
08:06 EDTJCIJohnson Controls says FY15 segment margin improvements seen in all 3 businesses
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08:04 EDTJCIJohnson Controls sees Q4 EPS $1.00-$1.03, consensus $1.01
08:04 EDTJCIJohnson Controls reports Q3 adjusted EPS 91c, consensus 91c
Reports Q3 revenue $9.6B, consensus $9.58B. "Our Automotive and Power businesses delivered significant margin improvements, while Building Efficiency saw higher revenues, backlog and orders. The Building Efficiency backlog increase was the biggest quarterly year on year improvement since 2012. We continued to see growing demand across our global markets and are realizing the benefits from our Johnson Controls Operating System efforts," said Alex Molinaroli, Johnson Controls chairman and CEO.
08:02 EDTJCIJohnson Controls plans tax-free spin-off of Automotive Experience business
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08:01 EDTJCIJohnson Controls plans tax-free spin-off of Automotive Experience business
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July 23, 2015
15:05 EDTJCINotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include AbbVie (ABBV), consensus $1.06... Biogen (BIIB), consensus $4.10... Simon Property Group (SPG), consensus $2.36... State Street (STT), consensus $1.37... V.F. Corp. (VFC), consensus 36c... Johnson Controls (JCI), consensus 91c... American Airlines (AAL), consensus $2.60... Rockwell Collins (COL), consensus $1.30... Cabot Oil & Gas (COG), consensus 4c... Lear (LEA), consensus $2.48... Encana (ECA), consensus (15c).
13:52 EDTJCIJohnson Controls technical notes before earnings news
There are two key levels to watch that may help determine where price will head following results. Since October 2013 the $45 area, with the notable exception of October of last year, has been support for share price. At $46.68 heading into news, a bearish report or outlook could easily see a retest of the $45 area and potentially a breakdown below it. Next supports below $45 are at $43.49, 4.79, and $40. The October 2014 and 52-week low is at $38.60. If the news is a bullish surprise, the $50 area would be the first test on the upside. Next would be resistance at $52.50. The 52-week high is at $54.52. It would take a decisive breakout above $55 to resolve the current sideways move which began in October 2013.

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