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Stock Market & Financial Investment News

News Breaks
July 3, 2014
09:49 EDTNAV, DDAIF, PCAR, VLKAYVolkswagen bid rumor short term positive for PACCAR, says Wells Fargo
After Daimler's (DDAIF) Truck CEO reportedly suggested at a company event that Volkswagen (VLKAY) will seek to acquire PACCAR (PCAR), Wells Fargo said it is skeptical that Volkswagen will make a bid, noting that the company has since denied it is looking to make a takeover play. However, Wells thinks the news could be a short term positive for PACCAR and a negative for peer Navistar (NAV), which the firm notes has previously been speculated as a target for the German automaker.
News For PCAR;NAV;VLKAY;DDAIF From The Last 14 Days
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December 16, 2014
16:26 EDTNAVOn The Fly: Closing Wrap
Stocks on Wall Street opened in negative territory following another tumble in the price of oil and Russian central bank intervention on the ruble. The continued decline in crude and the sudden rate hike in Russia led to an early sell-off, though the market soon pared its losses and the Dow eventually built a 200 point gain before noon. The swing of 300 points for the Dow was indicative of the day’s volatility. The market moved across the flat line again and in the end the sellers regained control and pushed the market to another loss. ECONOMIC EVENTS: In the U.S., housing starts fell 1.6% to a 1.028M rate in November, which was worse than the expected 3.1% increase. Building permits dropped 5.2% to a 1.035M rate in the month, which was also worse than the consensus forecast for a 2.5% drop. Markit's flash PMI for the U.S. dropped to 53.7 in December from 54.8 in November, which is an 11 month low and worse than the 55.2 reading that was forecast. In China, HSBC and Markit's preliminary manufacturing PMI fell to 49.5 in December from a final 50.0 reading in November. In Europe, Markit's composite PMI for the euro zone rose to 51.7, which was up from November's final reading of 51.1 and just above analyst forecasts for a reading of 51.5. Additionally, Russia's central bank raised its key interest rate to 17% from 10.5% in an effort to limit substantially increased ruble depreciation risks and inflation risks. COMPANY NEWS: Spain's Repsol (REPYY) announced plans to buy Talisman Energy (TLM) for $8 per share in cash, which was at the high end of the range reported recently by Financial Times. Talisman shares trading in New York surged $2.46, or 48.05%, to $7.58 following the deal announcement, while Repsol slipped 18c, or 0.93%, to $19.26. MAJOR MOVERS: The top nine gainers on the S&P 500 were all oil and gas exploration or services companies. After those came CVS Health (CVS), which gained $2.44, or 2.72%, to $92.31 after the company announced in conjunction with its analyst day meeting that it added $10B to its share repurchase plan, boosted its dividend 27%, affirmed its outlook for this fiscal year and pointed to growing earnings in its next fiscal year. Among the noteworthy losers was heavy truck maker Navistar (NAV), which fell $5.95, or 16.98%, to $29.10 after reporting losses for its just completed quarter. Also lower were shares of Russian companies listed in the U.S., including QIWI (QIWI), which dropped $2.81, or 13.06%, to $18.70 and Mobile TeleSystems (MBT), which slid 75c, or 10.84%, to $6.17. INDEXES: The Dow fell 111.97, or 0.65%, to 17,068.87, the Nasdaq dropped 57.32, or 1.24%, to 4,547.83, and the S&P 500 declined 16.89, or 0.85%, to 1,972.74.
12:26 EDTNAVOn The Fly: Midday Wrap
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07:22 EDTNAVNavistar sees FY15 retail Class 6-8 deliveries of 350K-380K in U.S./Canada
Navistar forecasts retail deliveries of Class 6-8 trucks and buses in the United States and Canada will be in the range of 350,000 units to 380,000 units for FY15. "We continue to make the necessary changes to improve the company and we're entering 2015 in a much stronger position than we were one year ago. We've restructured our core North American business, have the right products in place, and established the right leadership team. We are well-positioned to meet our 8-10 percent EBITDA margin run rate target exiting 2015," said Troy A. Clarke, Navistar president and CEO.
07:20 EDTNAVNavistar sees Q1 adjusted EBITDA $0M-$50M
Navistar sees Q1 adjusted EBITDA of $0M-$50M, excluding pre-existing warranty and one-time items. Sees Q1 manufacturing cash, cash equivalents and marketable securities between $700M-$800M.
07:19 EDTNAVNavistar reports Q4 EPS with items (88c), consensus 15c
Reports Q4 revenue $3.01B, consensus $3.02B. Reports Q4 EBITDA of $66M, which included $60M of restructuring, impairments and other charges partially offset by a $10M favorable adjustment in pre-existing warranty. As a result, adjusted Q4 EBITDA was $116M, which was within the company's Q4 guidance. The company reported a 23% year-over-year increase in chargeouts for Class 6-8 trucks and buses in the United States and Canada. End-of-year order backlog for Class 6-8 trucks was up 24% year-over-year.
December 15, 2014
15:36 EDTNAVNavistar December 36 straddle priced for 6.2% movement into Q4
15:21 EDTNAVNotable companies reporting before tomorrow's open
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13:16 EDTVLKAYUAW 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
08:12 EDTNAVNavistar to close foundry operations in Indianapolis
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06:55 EDTVLKAYTakata tightening restrictions on suppliers, Reuters reports
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December 12, 2014
14:04 EDTNAVNavistar volatility elevated into Q4 and outlook
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December 11, 2014
15:56 EDTVLKAYAutomaker 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
10:13 EDTPCAROn The Fly: Analyst Initiation Summary
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06:52 EDTPCARPACCAR initiated with a Buy at Global Hunter
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06:51 EDTNAVNavistar coverage transferred with an Accumulate at Global Hunter
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December 9, 2014
14:10 EDTPCARPACCAR near highs of session, up over 1.6%
14:07 EDTPCARPACCAR says Class 8 truck orders through November up 46% YoY
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14:00 EDTPCARPACCAR declares extra cash dividend of $1.00 per share
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December 8, 2014
11:10 EDTVLKAYVolkswagen 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).
11:09 EDTVLKAYVolkswagen reports passenger car deliveries up 2% to 5.6M in year-to-November
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