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Stock Market & Financial Investment News

News Breaks
November 14, 2012
16:21 EDTHMC, KBRKBR to construct facility for Honda Aircraft
KBR (KBR) announced that KBR Building Group has been awarded a contract by American Honda Motor (HMC) to construct a new maintenance, repair and overhaul facility located adjacent to Honda Aircraft Company's world headquarters at the Piedmont Triad International Airport in Greensboro, N.C. KBR Building Group will provide general contracting services for the 90,000-square-foot facility being constructed to support HondaJet. Site work has begun with occupancy slated for 2H13, prior to HondaJet's entry into service.
News For KBR;HMC From The Last 14 Days
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December 17, 2014
11:01 EDTKBRBalyasny Asset reports 5.57% passive stake in KBR
06:52 EDTHMCHonda tests on Takata airbags show 'shortcomings' in quality, Reuters says
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December 16, 2014
18:45 EDTHMCHonda to add additional $168M to FY14 expenses from airbag recall, Nikkei says
Honda (HMC) is expected to add more than $168M to its current FY14 expenses due to recalls of vehicles installed with faulty air bags made by Takata (TKTDY), Nikkei says. Reference Link
13:14 EDTHMCHonda to recall about 570,000 cars in China due to Takata air bags, Reuters says
Honda (HMC) and its joint ventures in China plan to recall 569,769 cars due to potentially defective air bags manufactured by Takata (TKTDY), Reuters says. Reference Link
December 15, 2014
13:16 EDTHMCUAW head looking for wage hikes in new contract, Automotive News says
Veteran auto workers should get a wage increase in a new contract, while the compensation of newly hired employees should move closer to that of longer serving workers, UAW President Dennis Williams said today, according to Automotive News. Williams said he is not considering launching a strike when the auto workers' contact ends in September, the website added. Publicly traded companies in the space include Fiat S.p.A. (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).Reference Link
06:55 EDTHMCTakata tightening restrictions on suppliers, Reuters reports
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December 11, 2014
15:56 EDTHMCAutomaker lending arms probed by NYDFS, NY Post reports
The New York Department of Financial Services has subpoenaed the financing arms of Ford (F), Honda (HMC), Hyundai, Nissan (NSANY) and Volkswagen (VLKAY), as well as Banco Santander (SAN) and TD Bank (TD), said the New York Post, citing a source familiar with the investigation. Reference Link
09:24 EDTKBRKBR says looks to reduce annual operating expenses by $200M by 2016
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08:08 EDTKBRKBR sees pre-tax charge of $800M-$1B related to restructuring
Effective December 31, 2014, KBR, Inc. will be reorganized into three new businesses. The actions are expected to strengthen KBR's balance sheet by addressing and exiting under-performing and non-strategic businesses. The company expects to realize annual operating cost savings of $200M by 2016, but anticipate taking a pre-tax charge ranging from $800M-$1B, the majority of which will be non-cash. The company currently has a cash balance of approximately $1B and has received approval from its lenders to amend its credit facility for the impact of the anticipated charge.
08:06 EDTKBRKBR to divest or exit several non-strategic businesses
KBR announced the results of a major Strategic Review which will see the company become a more streamlined, empowered and accountable global organization. Effective December 31, 2014, KBR, Inc. will be reorganized into three new businesses that will focus on core strengths in consulting, technology, engineering and construction and government services: Technology & Consulting combines all proprietary KBR technologies, knowledge-based services and KBR companies Granherne, Energo and GVA under one customer-facing global business to provide licensed technologies and consulting services to the oil and gas value chain, for wellhead to crude refining and to specialty chemicals production. In addition to sharing many of the same customers, these businesses share their approach of early and continuous involvement to deliver the most optimal solution to meet the customer's objectives through early planning and scope definition, advanced technologies and project lifetime support. This focus allows early customer engagement and continuity through to full project delivery; Engineering & Construction is KBR's project delivery business. It will leverage our operational and technical excellence as a global provider of engineering, procurement, construction, commissioning and maintenance for oil and gas, refining, petrochemicals, chemicals and industrial customers. Through a regional structure, E&C has been designed to be closer to its customers and capable to execute global project delivery on a consistent basis throughout the world; Government Services will focus on long-term services contracts with annuity streams particularly for the United Kingdom, Australian and United States governments. KBR functions at a corporate level will be streamlined. This will result in a lean corporate office with responsibility for strategy and governance. As a result of this Strategic Review, KBR will be divesting or exiting the following non-strategic businesses as it works to streamline global operations and drive efficiency with a goal of reducing annual operating costs of at least $200M by 2016: Fixed Price EPC Power; Fixed Price EPC Infrastructure and U.S. Minerals; Building Group; and Fixed Price, stand-alone Construction. In addition, options for Canadian module fabrication and U.S. military deployed operations support businesses are still under consideration.
December 8, 2014
18:31 EDTHMCHonda to expand air bag recall worldwide, Nikkei reports
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12:00 EDTKBRKBR to host investor meeting
Investor meeting to be held in New York on December 11 at 9 am. Webcast Link
11:10 EDTHMCVolkswagen sees challenging developments continuing for rest of year
Volkswagen (VLKAY) said, “The challenging developments on markets worldwide – above all in Eastern Europe and South America – will continue for the remainder of this year. The Volkswagen Passenger Cars brand handled these challenges successfully during the course of the year, but was not entirely immune to their impact.” Other publicly traded companies in the passenger automotive space include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), and Toyota (TM).
December 5, 2014
10:00 EDTHMCOn The Fly: Analyst Downgrade Summary
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07:09 EDTHMCHonda downgraded to Neutral from Outperform at Credit Suisse
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07:02 EDTHMCHonda set to recall 135,000 vehicles in Japan, Reuters reports
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December 4, 2014
10:09 EDTKBRHigh option volume stocks
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