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Stock Market & Financial Investment News

News Breaks
January 2, 2013
10:06 EDTSI, MCP, 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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December 15, 2014
13:16 EDTNSANYUAW 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 EDTNSANYTakata tightening restrictions on suppliers, Reuters reports
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December 11, 2014
15:56 EDTNSANYAutomaker 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
06:30 EDTNSANYNissan recalling 1520,000 cars globally using Takata air bags, Reuters reports
Nissan (NSANY) is recalling 152,000 vehicles around the world that use Takata's (TKTDY) passenger site air bags, Reuters reports. The cars are being recalled after an "unusual deployment" of a Takata air bag in Japan, which also led to recalls by Toyota (TM). Reference Link
December 9, 2014
09:47 EDTNSANYNissan recalling 470,000 cars and SUVs due to fuel leak issue, AP reports
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December 8, 2014
11:10 EDTNSANYVolkswagen 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).

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