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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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February 2, 2016
14:11 EDTNSANYAutodata estimates January U.S. auto sales pace at 17.58M, CNBC reports
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09:07 EDTNSANYNissan reports January U.S. sales up 1.6% to 105,734 units
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09:04 EDTNSANYNissan reports January U.S. sales up 1.6%, Bloomberg says
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07:09 EDTNSANYTrueCar projects U.S. revenue from new vehicle sales reached $38B in January
TrueCar projects U.S. revenue from new vehicle sales reached a record high for the month of January of $38 billion, up 1.4 percent from a year ago. January marked the auto industry's 25th consecutive month of year over year revenue expansion. Higher average transaction prices helped automakers post a $520 million gain in revenue versus January 2015, despite a likely increase in incentive spending and somewhat lower sales compared with a year ago. As previously announced, TrueCar projects sales of new cars and light trucks contracted 0.3 percent last month. Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
February 1, 2016
18:46 EDTNSANYAutomakers hit with additional costs due to China regulatory shift, Reuters says
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January 29, 2016
09:43 EDTNSANYNissan recalls 846K Altimas due to faulty hood latch
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January 28, 2016
10:28 EDTNSANYTakata CEO plans to resign, WSJ reports
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January 25, 2016
17:21 EDTNSANYNissan CEO says considering expanded collaboration with Renault, Nikkei says
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