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Stock Market & Financial Investment News

News Breaks
January 2, 2013
10:06 EDTMCP, SI, NSANYMolycorp rises after Bloomberg says company could be takeover target
Shares of rare earth mining company Molycorp (MCP) are trading higher this morning after a Bloomberg "Real M&A" article said the company could be a takeover target. According to data compiled by Bloomberg, Molycorp, which owns the largest U.S. deposit of "rare earth" metals that go into everything from smartphones to hybrid cars, is trading at a 19% discount to its book value. The company's stock slid 61% in 2012 as it faced problems like slumping prices of rare earths, the departure of its CEO, cost overruns at its California mines and a regulatory probe. Byron Capital Markets believes manufacturers from Nissan (NSANY) to Siemens (SI) could be interested in making a bid for Molycorp, according to Bloomberg. The report also noted that Robert W. Baird & Co believes the $1.3B company could appeal to private-equity firms, but mining companies may not be as eager to pursue the company, and that Goldman Sachs believes Molycorp could fetch $15 per share in a takeover, a 59% premium to its close on December 31. Molycorp advanced $1.43, or 15.15%, to $10.87 in early-morning trading.
News For MCP;SI;NSANY From The Last 14 Days
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July 29, 2014
06:37 EDTNSANYNissan anticipates Takata to compensate all recall-related costs, Reuters says
Nissan's corporate vice president Joji Tagawa said that he expects Takata to compensate the car manufacturer for all expenses having to do with the recent air bag recall, according to Reuters, citing comments from Tagawa. Tagawa did not say the exact costs linked to the recall. Reference Link
July 28, 2014
07:30 EDTSIQ1 Productions to hold a conference
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05:56 EDTNSANYNissan reaffirms FY14 net income outlook $4.05B
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05:55 EDTNSANYNissan reports Q1 net income up 37% to $1.10B
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July 27, 2014
19:00 EDTNSANYNissan recalls additional vehicles over airbag, WSJ says
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July 25, 2014
06:50 EDTMCPChina to raise rare earth quotas, China Daily says
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July 21, 2014
11:57 EDTNSANYChinese electric vehicle maker Kandi surges after tax break news
Shares of Chinese electric car maker Kandi Technologies (KNDI) are surging after a Chinese newspaper reported that electric cars made outside of China would not qualify for a key tax break in the country. WHAT'S NEW: A key sales tax will not be waived on purchases of electric cars made outside of China, said Su Bo, China's vice-minister of the Industry and Information Technology Ministry, according to China Daily. Buyers of electric vehicles made in China will not have to pay a purchase tax from September 1, 2014 until the end of 2017, China Daily stated. WHAT'S NOTABLE: Tesla Motors (TSLA), Nissan (NSANY) and GM (GM) have all sought to sell electric vehicles in China. PRICE ACTION: In late morning trading, Kandi Technologies' stock rose $1.66, or 8.5%, to $21.28. The shares are well off their high for the day of $22.22, but they have surged 80% so far this year. Tesla shares, which had spent some of the morning in slightly negative ground, were up about 1% near $222 per share just before noon.
06:58 EDTNSANYForeign electric cars won't qualify for Chinese tax break, China Daily says
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06:07 EDTNSANYNissan to introduce self-parking cars by 2016, Detroit News reports
Nissan is planning to introduce self-parking cars by 2016, the Detroit News reports. The feature, which will be available along with technology enabling cars to self-navigate congested highway, on a wide range of vehicles, CEO Carlos Ghosn says. Reference Link
05:54 EDTMCPStocks with implied volatility movement; MPEL MCP
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July 18, 2014
15:23 EDTNSANYJapan to provide generous subsidies for fuel cell vehicles, Nikkei says
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July 17, 2014
05:59 EDTMCPMolycorp implied volatility of 115 at upper end of index mean range

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