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Stock Market & Financial Investment News

News For TM;VLKAY;GM From The Last 14 Days
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August 3, 2015
12:30 EDTGMOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday following a busy morning of economic data that included manufacturing readings from around the globe. Also making headlines was the resumption of stock trading in Greece's, whose key index plunged more than 20% upon its opening after being closed throughout July as the country brokered a new financial assistance deal with its creditors. ECONOMIC EVENTS: In the U.S., a news service broke the Institute for Supply Management's embargo early and the group's manufacturing report was released before the opening bell instead of after it, as expected. ISM's manufacturing index for July came in at 52.7, below the consensus forecast for a reading of 53.5. Markit's manufacturing index for July came in at 53.8, matching expectations. Personal income rose 0.4% in June, versus expectations for a gain of 0.3%, while consumer spending rose 0.2%, matching expectations. Construction spending edged up 0.1% in June, missing expectations for spending to have grown 0.6%. In China, the official purchasing managers' index released by the statistics bureau fell to a five month low of 50, compared with the previous month's 50.2 reading, where economists polled by Reuters forecast it to hold. The Caixin China PMI, which focuses more on small and medium sized firms, fell to a two year low of 47.8, which was lower than the preliminary reading of 48.2 for July. In Europe, Markit's final Eurozone manufacturing PMI of 52.4 beat a preliminary estimate of 52.2, but ticked down a hair from June's 52.5 reading. Greece's Athens Stock Exchange reopened for the first time since being closed on June 29 and the Athex composite plunged more than 20% in early trading upon the resumption of trading. COMPANY NEWS: General Motors (GM) reported its U.S. sales jumped 6.4% in July compared to the same month of last year, topping expectations. FCA US, the parent of the Chrysler and Jeep brands, reported U.S. sales increased 6.2% in July and Ford's (F) sales growth of 5% last month compared to last year also beat the consensus forecast. Of note, GM said the month indicates annual light vehicle sales of 17.6M, above the company's 2015 estimate for U.S. industry sales of 16.5M-17M, while FCA US projected U.S. industry sales figures for July at an estimated 17.8M units Seasonally Adjusted Annual Rate, or SAAR. MAJOR MOVERS: Among the notable gainers was Lexicon Pharmaceuticals (LXRX), which jumped 59% after the company reported that a Phase 3 study evaluating the efficacy and safety of telotristat etiprate for carcinoid syndrome patients with metastatic neuroendocrine tumor met its primary endpoint. Wedbush analyst Liana Moussatos raised her price target for Lexicon to $19 from $17 after the report, saying the trial results were "impressive and transforming." Also higher was Frontier Communications (FTR), which gained 9.7% after reporting its second quarter results and raising its FY15 free cash flow view to $825M-$865M from $785M-$825M. Among the noteworthy losers was Tyson Foods (TSN), which fell 9% after the meat producer reported weaker than expected third quarter results and cut its full-year guidance, citing ongoing headwinds facing its beef business. INDEXES: Near midday, the Dow was down 78.84, or 0.45%, to 17,611.02, the Nasdaq was up 1.73, or 0.03%, to 5,130.01, and the S&P 500 was down 2.82, or 0.13%, to 2,101.02.
11:33 EDTGMTesla U.S. Model S sales estimated to fall to 1,600 in July, InsideEVs says
Tesla does not give out exact monthly sales figures, but InsideEVs estimates the company sold 1,600 Model S sedans in the U.S. in July, which would be down from the 2,800 estimated for June. In other EV sales, the report noted that GM's (GM) current generation Volt sold 1,313 units in July and Nissan's (NSANY) LEAF sales fell 61.1% from the same month of last year to 1,174 units. Reference Link
10:48 EDTVLKAYVolkswagen reports July U.S. sales up 2.4% to 31,300 units
Volkswagen of America reported sales of 31,300 units delivered in July, a 2.4% increase over July 2014.
10:45 EDTVLKAYMobileye inclusion as Volkswagen ADAS partner a positive, analysts say
The shares of Mobileye (MBLY) were climbing earlier in the session, but have given up their early gains, after Volkswagen (VLKAY) on Friday night named the company as a partner for the development of advanced driver assistance systems, or ADAS. A number of analysts wrote that the news is a significant positive development for Mobileye. Volkswagen also named Delphi (DLPH) as an ADAS partner. WHAT'S NEW: Volkswagen on Friday night announced that it would partner with Mobileye and Delphi on ADAS as two of 44 suppliers that will collaborate with Volkswagen under the German automaker's "Future Automotive Supply Tracks," or "FAST," initiative. "These suppliers were chosen for their outstanding performance in their respective field of competence based on a systematic selection process," Volkswagen stated. ANALYST REACTION: Mobileye's ADAS solutions are currently not incorporated into Volkswagen vehicles, although they are utilized in cars made by Audi, which is a Volkswagen subsidiary, Citi analyst Itay Michaeli wrote in a note to investors today. Mobileye's selection as a FAST partner raises the probability that its solutions will be deployed in Volkswagen cars, the analyst stated. Moreover, Mobileye and Delphi were the only two ADAS vendors chosen to be FAST partners, indicating that they are viewed more favorably by Volkswagen than their competitors, Michaeli believes. The news also indicates that Volkwagen is pleased with Mobileye's moncular AEB product which was recently deployed in Audi vehicles, Michaeli believes. He recommended buying the shares of Volkswagen and Delphi. The inclusion of Mobileye and Delphi in the FAST program "could put both companies in pole position to become Volkswagen's core ADAs suppliers," according to Morgan Stanley analyst Ravi Shanker. This development could enable Mobileye in particular to become the dominant vision ADAS supplier for Volkswagen, Shanker wrote. Although the inclusion in FAST may reflect Mobileye's dominance within Audi, Mobileye's status as one of two ADAS vendors on the list signals that it will supply the majority of Volkswagen's ADAS vision systems, the analyst contended. Mobileye's EPS would be boosted by about $1 if it supplies the majority of Volkswagen's vision ADAS systems, the analyst estimated. If this situation does materialize, Mobileye will have obtained major deals with 23 of the world's top automakers, "effectively crowding out the competition," added Shanker, who kept an Overweight rating on the stock. PRICE ACTION: In early trading, Mobileye slipped 0.5% to $59.81. Earlier in the session the stock had traded as high as $62.68 per share.
10:32 EDTTMToyota reports July U.S. sales up 0.6% to 217,181 units
Toyota Motor Sales U.S.A. reported July sales of 217,181 units, an increase of 0.6% from the same month of 2014 on a volume basis. With the same amount of selling days in July as in 2014, sales were up 0.6% on a daily selling rate basis. Toyota Division posted July sales of 187,365 units, down 0.6% on a volume and DSR basis. Lexus reported July sales of 29,816 units, up 9.1% from July 2014 on a volume basis and DSR basis.
10:17 EDTVLKAYTomTom exploring options that could lead to sale, Bloomberg reports
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09:52 EDTGMGM U.S. sales rise 6.4% in July to 272,512 units
General Motor said its Chevrolet, Buick, GMC and Cadillac brands sold 272,512 vehicles in the United States in July, a 6.4% increase compared to last year. The month indicates annual light vehicle sales of 17.6M, above GM's 2015 estimate of 16.5M-17.0M. All Vehicles inventory at month-end stood at 665,663 units, equaling 64 days of supply. GM ended last month with 70 days of supply, or 722,653 units.
09:49 EDTGMGeneral Motors reports July U.S. sales up 6.4% to 272,512 units
08:38 EDTVLKAY, TMCiti sees VW nomination as 'clear positive' for Mobileye, Delphi
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08:25 EDTVLKAYMobileye, Delphi named Volkswagen supplier partners for ADAS
On Friday, Volkswagen Group (VLKAY) announced it has nominated the first 44 suppliers who will be collaborating with the Group on a new common strategic level under the joint "Future Automotive Supply Tracks," or "FAST," initiative. "These suppliers were chosen for their outstanding performance in their respective field of competence based on a systematic selection process," Volkswagen stated. Mobileye (MBLY) and Delphi (DLPH) were each named as partners for ADAS, or advanced driver assistance systems. Other supplier partners named by the German automaker included NVIDIA (NVDA), Vodafone (VOD), IBM (IBM), Avis Budget (CAR), Corning (GLW), Honeywell (HON), BP (BP) and Exxon Mobil (XOM).
August 2, 2015
19:11 EDTVLKAYGerman auto group to buy Nokia mapping unit for $3.2B, Reuters says
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July 31, 2015
08:14 EDTGMAmerican Axle selected by GM to provide axles, driveshafts
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06:53 EDTTMToyota signs pact with two companies for in-car navigation, Re/code says
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July 30, 2015
12:09 EDTGMFiat Chrysler CEO: 'No immediate plans' to divest Magneti Marelli, Reuters says
Fiat Chrysler (FCAU) CEO Sergio Marchionne said that the company has "no immediate plans" to divest Magneti Marelli, though there may be plans to do so in the future, Reuters reports, citing comments from the company's analyst call. Marchionne said that he sees the company breaking even in Brazil by the end of 2015 and that he wants to narrow the gap in labor costs with Ford (F) and GM (GM) in ongoing labor talks, the report says. The CEO added that he sees FY15 Maserati sales being flat or close to the previous year's levels, the report says. Reference Link
06:13 EDTGMGeneral Motors workers in South Korea approve wage deal, Reuters reports
GM workers in South Korea have voted to ratify a tentative wage deal under which GM Korea will raise the basic monthly wage by 83,000 won and pay each worker 10.5M won in bonuses and incentives, Reuters reports. Reference Link
July 29, 2015
06:15 EDTGMGM's Chevrolet announces $1B investment in India
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06:14 EDTTM, VLKAY, GMGM, Ford sales rise to level of German luxury auto makers, WSJ says
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05:55 EDTGMStocks with implied volatility movement; NCR GM
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July 28, 2015
14:41 EDTGMHigh option volume stocks
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13:47 EDTGMGeneral Motors would fit some Buffett 'take-private' criteria, FT says
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13:18 EDTGMChevrolet to invest $5B to strengthen position in growth markets
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13:18 EDTGMGeneral Motors sees doubling investment through 2018 in Brazil, Reuters reports
Jaime Ardila, the head of GM in South America, said at a press conference that the automaker will double its investment in Brazil to $3.8B through 2018, Reuters reports. The carmaker's investment will be aimed at developing new technologies and products, and GM plans to introduce a new family of vehicles into the country, Ardila says. Reference Link
08:49 EDTGMGeneral Motors outlook positive, says Argus
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06:55 EDTTM, VLKAYVolkswagen passes Toyota as largest auto maker by sales, Reuters says
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06:41 EDTTM, VLKAY, GMU.S. regulators pledge to continue auto safety crackdown, WSJ reports
Federal regulators have vowed to continue a crackdown on auto makers when discovering "significant" safety lapses, the Wall Street Journal reports. U.S. Transportation Secretary Anthony Foxx said Monday that he was "encouraged" by conversations with car companies about safety problems, the report says. Publicly traded companies in the space include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
06:12 EDTGMGM to spend $5B in global growth markets, Financial Times reports
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July 27, 2015
19:45 EDTTMScion chief plans to double U.S. sales by 2017, Reuters says
Toyota's Scion brand aims to double its U.S. vehicle sales to more than 100,000 by 2017, reports Reuters, citing statements from Scion chief Doug Murtha. Murtha told reporters that three upcoming Scion vehicle launches will drive the sales boost, adding that he expects 2015 sales to be roughly comparable to 2014 results. Reference Link
12:50 EDTGMEarnings Watch: Ford shares down approximately 9% since Q1 report
Ford Motor Co. (F) is expected to report second quarter earnings on Tuesday, July 28, before the market open with a conference call scheduled for 9:00 am ET. Ford is a manufacturer and distributor of cars and trucks across six continents. EXPECTATIONS: Analysts are looking for earnings per share of 37c on revenue of $35.34B, according to First Call. The consensus range for EPS is 26c-43c on revenue of $33.41B-$37.32B. LAST QUARTER: Ford reported first quarter adjusted EPS of 23c against estimates for 26c, on automotive revenue of $31.8B against estimates for $33.9B. Ford reported Q1 wholesales of 1.568M. It raised its FY15 North American pre-tax operating margin view to 8.5%-9.5% from 8%-9%, and reconfirmed its 2015 pre-tax profit guidance of $8.5B-$9.5B. Ford said it expects North America to have a very strong year in 2015, with substantial top-line growth, higher pre-tax profit, and an improved operating margin. Ford sees 2015 U.S. industry volume of 17M-17.5M vehicles, Europe 20 industry volume of 15.2M-15.7M vehicles, and China industry volume of 24M-26M, compared to the previous view for Europe 20 of 14.8M-15.3M and China of 24.5M-26.5M. On its Q1 conference call, Ford said it sees 2015 as a "breakthrough year" for the company. It sees results growing "progressively stronger" as new products continue to build momentum. It said it saw strong top-line growth in 2015, and expected to improve global market share. Results in the second half of 2015 were expected to be stronger than the first half due to product timing, and capacity launches. During the quarter, Ford reported the following: April U.S. sales up 5% to 222,498 vehicles; May U.S. sales down 1% to 250,813 units; and June U.S. sales up 1.6% to 225,647 units. STREET RESEARCH: Street research has been positive in the weeks leading up to Ford's Q2 earnings report. On June 23, Goldman upgraded Ford to Buy from Neutral. Goldman Sachs analyst Patrick Archambault shifted his preference in automakers, upgrading Ford to Buy from Neutral and downgrading General Motors (GM) to Neutral from Buy in a note to investors. The analyst cited a superior growth outlook at Ford, Ford's improving positioning in China, and rising truck incentives from GM. Archambault viewed Ford as less vulnerable to the slowing growth in the Chinese market. The analyst raised his price target on Ford to $19 from $18, and lowered his price target on GM to $40 from $47, but noted that the new target still has 11% upside. On June 10, UBS said the underperformance in Ford shares has made it an attractive time to buy the stock, as the firm believed the company should have a strong second half of the year. The firm cited the successful F-150 launch, with demand exceeding supply, as well as China sales and the company's restructuring efforts. UBS reiterated its Buy rating and $19 price target on Ford shares. PRICE ACTION: Ford's shares are down approximately 9% since its Q1 report and have lost about 18% year-over-year. In afternoon trading ahead of Tuesday's Q2 report, Ford is up fractionally.
July 26, 2015
19:22 EDTVLKAYBaidu CEO 'still interested' in Nokia map unit, Re/code says
In a Re/code interview published Friday afternoon, Baidu (BIDU) CEO Robin Li remarked that the company is "still interested" in Nokia's (NOK) HERE mapping unit. When asked about potential partners, Li commented, "I cannot say too much about it because it’s not a done deal." Note that earlier media reports have suggested Nokia is or was leaning towards selling HERE to a group of German luxury car makers including Daimler (DDAIF), BMW (BAMXY), and Volkswagen's (VLKAY) Audi (AUDVF). Reference Link
14:57 EDTGMGeneral Motors shares look 'very cheap,' Barron's says
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July 24, 2015
16:30 EDTGMStocks end week lower as Apple headlines busy week of earnings
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13:55 EDTGMGeneral Motors falls, levels to watch
Shares were last down at $30.90. At that price next support is at $30.30 and then at $28.82 which is the 52-week low. Resistance is at $31.75.
13:19 EDTGMDOJ unlikely to charge General Motors with bankruptcy fraud, WSJ reports
According to sources, The Wall Street Journal reports that it is "unlikely" that General Motors will be charged with bankruptcy fraud by the DOJ. However, the sources say that prosecutors in the U.S. attorney's office in Manhattan are still considering charging GM with criminal wire-fraud and would hope to bring a case and reach a settlement with the automaker as early as September. Reference Link
13:16 EDTGMU.S. Attorney's office considering wire-fraud charges against GM, DJ reports
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10:00 EDTGMOn The Fly: Analyst Upgrade Summary
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07:32 EDTGMCiti sees 'plenty of reasons' to buy General Motors
Citi analyst Itay Michaeli sees "plenty of reasons" to buy shares of General Motors (GM) ahead the Q2 results and reiterates a Buy rating on the name. Strong results e could serve as a turning point for investor sentiment, Michaeli tells investors in a research note. He continues to expect GM shares will trade at a premium to Ford (F) by the end of 2015. The analyst reiterates a Buy rating on the stock with a $50 price target.
07:15 EDTGMGeneral Motors record margins increase confidence in 2016, says UBS
UBS said General Motors record North American margins increases the firm's confidence in 2016. The firm views GM's Q2 results as solid, citing stability in the China market, close to breakeven results in Europe and management guidance for improved performance in the second half of 2015. UBS reiterated its Buy rating and raised its price target to $49 from $46 on General Motors shares.
06:56 EDTGMGeneral Motors upgraded to Neutral from Underperform at Credit Suisse
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July 23, 2015
18:21 EDTGMOn The Fly: Top stock stories for Thursday
Stocks began the session mixed on the heels of weak earnings reports from both Caterpillar (CAT) and 3M (MMM). The Nasdaq managed to spend most of the day in positive territory but joined the other averages in negative territory by mid-afternoon. Selling picked up momentum towards late afternoon, and by day’s end each of the averages were lower by more than 0.4%, with the Dow losing nearly 0.7%. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 255,000 in the week ended July 18, below the 278,000 first-time claims that were expected. The Leading Economic Indicators advanced 0.6% in June, exceeding expectations for a 0.3% increase. In Asia, the Shanghai Composite index advanced for a sixth straight session, adding another 2.4%. In Europe, the Greek Parliament voted to accept creditor terms for a new bailout, though a decision on when to reopen Greek financial markets was deferred to next week. COMPANY NEWS: Shares of General Motors (GM) finished the session up 3.96% to $31.50 after reporting earnings per share above analyst expectations. Other notable names rising following earnings reports include SanDisk (SNDK), Under Armour (UA), Southwest (LUV)... Caterpillar, meanwhile, dropped $2.86, or 3.59%, to $76.90 after cutting its yearly guidance during this morning's earnings report, with the company noting a "relatively stagnant" global economy. Also lower following earnings were Comcast (CMCSA, CMCSK), Bristol-Myers Squibb (BMY), Dunkin Brands (DNKN), and Boston Scientific (BSX). MAJOR MOVERS: Among the notable gainers was Cigna (CI), which rose $3.29, or 2.18%, to $154.36 after the Wall Street Journal reported last night that Anthem (ANTM) is nearing a deal to acquire the company for roughly $187, representing a total transaction value of over $48B. Adding to that report, CNBC's David Faber said on Thursday morning that Anthem will announce an agreement Friday to purchase Cigna for $188 per share, at a 45% equity, 55% cash split. Also higher were shares of numerous IT security companies, with FireEye (FEYE) advancing 4.53% and Palo Alto Networks (PANW) adding 2.33% after earnings reports from security firms Fortinet (FTNT) and F5 Networks (FFIV) beat on both top and bottom lines. Fortinet and F5, meanwhile, finished Thursday's session up 10.71% and 7.75% to $46.83 and $127.68, respectively. Among the noteworthy losers following earnings was McDonald's (MCD), which edged down 0.52% to $97.10 after noting that Q2 global comparable sales fell 0.7% for the quarter, including a 2% decline in U.S. same-store sales. Also lower was Hertz (HTZ), which declined 8.53% to $16.45 following a downgrade to Underweight at Morgan Stanley, with the research firm citing increased competition from Uber and similar mobility services. INDEXES: The Dow fell 119.12, or 0.67%, to 17,731.92, the Nasdaq lost 25.36, or 0.49%, to 5,146.41, and the S&P 500 declined 12.00, or 0.57%, to 2,102.15.
12:32 EDTGMOn The Fly: Top stock stories at midday
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11:37 EDTGMGM says FTC probing if dealers certified vehicles needing recall repairs
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10:33 EDTGMGM sees China auto industry to grow in low single digit range in 2015
10:20 EDTGMGM CEO says just completed car sharing program at Google HQ
General Motors (GM) CEO Mary Barra made the comment on the company's Q2 earnings conference call.
09:13 EDTGMOn The Fly: Pre-market Movers
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08:05 EDTGMGM Financial reports Q2 net income $186M
GM Financial announced net income of $186 million for the quarter ended June 30, 2015, compared to $175 million for the quarter ended June 30, 2014. Earnings for the six months ended June 30, 2015 were $336 million, compared to $320 million for the six months ended June 30, 2014. Consumer loan originations were $4.3 billion for the quarter ended June 30, 2015, compared to $4.1 billion for the quarter ended March 31, 2015, and $3.6 billion for the quarter ended June 30, 2014. Consumer loan originations for the six months ended June 30, 2015 were $8.4 billion, compared to $7.0 billion for the six months ended June 30, 2014. The outstanding balance of consumer finance receivables was $27.3 billion at June 30, 2015. Operating lease originations of General Motors Company vehicles were $5.6 billion for the quarter ended June 30, 2015, compared to $3.0 billion for the quarter ended March 31, 2015, and $1.5 billion for the quarter ended June 30, 2014. Operating lease originations for the six months ended June 30, 2015 were $8.6 billion, compared to $2.3 billion for the six months ended June 30, 2014. Leased vehicles, net was $12.9 billion at June 30, 2015. The outstanding balance of commercial finance receivables was $7.8 billion at June 30, 2015 compared to $7.6 billion at March 31, 2015 and $7.1 billion at June 30, 2014. Consumer finance receivables 31-to-60 days delinquent were 3.6% of the portfolio at June 30, 2015, compared to 3.5% at June 30, 2014. Accounts more than 60 days delinquent were 1.6% of the portfolio at June 30, 2015 and June 30, 2014. Annualized net credit losses were 1.6% of average consumer finance receivables for the quarter ended June 30, 2015 and 1.4% for the quarter ended June 30, 2014. For the six months ended June 30, 2015, annualized consumer net credit losses were 1.7%, compared to 1.6% for the six months ended June 30, 2014. The Company had total available liquidity of $12.9 billion at June 30, 2015, consisting of $2.1 billion of unrestricted cash, $9.2 billion of borrowing capacity on unpledged eligible assets, $0.6 billion of borrowing capacity on unsecured lines of credit and $1.0 billion of borrowing capacity on a Junior Subordinated Revolving Credit Facility from GM.
07:56 EDTGMGeneral Motors CFO says expects second half to be better than first half
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07:48 EDTGMGeneral Motors up 6% to $32.10 after Q2 earnings top expectations
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07:47 EDTGMGeneral Motors reports Q2 worldwide market share of 11.1%
Reports Q2 North America market share of 17.1%, including 17.6% in the U.S. Reports Europe market share of 6.3%. Reports APMEA market share of 9.9%. Reports South America market share of 15%.
07:45 EDTGMGeneral Motors reports Q2 worldwide vehicles sales of 2.46M
General Motors reports Q2 North America vehicle sales of 965,000, including 822,000 in the U.S. Reports Q2 Europe vehicles sales of 319,000. Reports Q2 Asia/Pacific, Middle East and Africa vehicle sales of 1.02M. Reports Q2 South America vehicle sales of 156,000.
07:41 EDTGMGeneral Motors reaffirms 2015 outlook for improved EBIT-adjusted
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07:38 EDTGMGeneral Motors attributes lower Q2 revenue to negative currency impact
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07:36 EDTGMGeneral Motors CEO says first two quarters of year were strong
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07:36 EDTGMGeneral Motors reports Q2 adjusted EPS $1.29, consensus $1.08
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06:19 EDTGMUAW concerned over auto production moving to Mexico, NYT says
The greatest concern for the United Automobile Workers, or UAW, union as it enters discussions on new contracts with Detroit auto makers Fiat Chrysler (FCAU), Ford (F), and General Motors (GM) is losing vehicle production to lower-wage countries such as Mexico, the New York Times reports. Union president Dennis Williams was upset over comments last week that suggested that Ford was considering sending work to Mexico in an effort to cut costs, the report says. "I will save my comments on Ford for when we open up negotiations,” Mr. Williams said. “But it is always concerning to me when any company invests outside the United States.” Reference Link
July 22, 2015
18:59 EDTVLKAYVolkswagen in talks to sell stake in LeasePlan, Reuters says
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15:26 EDTGMNotable companies reporting before tomorrow's open
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14:50 EDTGMGeneral Motors technical comments ahead of earnings
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13:24 EDTGMEarnings Preview: General Motors down approximately 20% since Q1 report
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08:20 EDTGMGeneral Motors July weekly volatility elevated into Q2 and outlook
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07:18 EDTVLKAY, GM, TMAir bag aging poses threat to millions of U.S. drivers, NBC News reports
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July 21, 2015
18:33 EDTTMToyota to delay building Lexus brand in China, Reuters reports
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12:22 EDTTMFormer Toyota exec plans to make supplier more competitive, Bloomberg says
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11:05 EDTTMAfter Jeep hacked, analyst predicts cybersecurity boosts for Harman, Delphi
After Jeep hacked, analyst predicts cybersecurity boosts for Harman, Delphi The shares of Harman (HAR) and Delphi Automotive (DLPH) are rising after Wells Fargo predicted that the companies would benefit from the increasing need to protect cars from cybersecurity attacks after Wired reported on hackers discovering methods that can be used to take control of vehicles. BACKGROUND: Two computer hacking researchers showed that they could seize control of a Jeep Cherokee, made by Fiat Chrysler (FCAU), using a technique called a zero-day exploit, Wired reported today. Using the same technique, the hackers can control "any of thousands of vehicles," the website reported. In the past, they have demonstrated how they were able to take control of a Ford (F) Escape and Toyota (TM) Prius, according to Wired. The hackers' technique involves taking control of vehicles' entertainment systems and sending commands to the vehicles' dashboard functions, steering, brakes, and transmission through their those systems, the website stated. ANALYST REACTION: In a note to investors today, Wells Fargo analyst David Lim responded to Wired's article by saying that cybersecurity has become a significant concern for automakers. Automotive technology suppliers such as Harman (HAR) and Delphi (DLPH) should benefit from auto makers' efforts to protect their vehicles from cyberattacks, Kwas believes. He reiterated Outperform ratings on Harman and Delphi. PRICE ACTION: In morning trading, Harman climbed about 2% to $108 and Delphi rose fractionally to $78.15. This version of the story replaces an earlier one to correct the lead analyst to David Lim.
09:40 EDTGM, VLKAY, TMJeep Cherokee can be hacked via entertainment system, Wired reports
Hackers Charlie Miller and Chris Valasek demonstrated to Wired how Jeep Cherokees can be hacked via the vehicle’s entertainment system, giving an attacker wireless control of the automobile and its systems. Miller and Valasek previously demonstrated hacks they were able to perpetrate against Ford (F) Escape and Toyota (TM) Prius vehicles, the report noted. Other publicly traded automakers include General Motors (GM), Honda (HMC), Nissan (NSANY) and Volkswagen (VLKAY). Reference Link
08:07 EDTVLKAYBorgWarner provides R2S turbocharging technology to Volkswagen
BorgWarner (BWA) provides its two-stage, or R2S, turbocharging technology for Volkswagen's (VLKAY) new high-performance diesel engine. Engineered to comply with the Euro 6 emissions standard, the 2.0-liter four-cylinder engine is the most powerful diesel engine in its class.
July 20, 2015
14:33 EDTTMGoPro, Toyota partner to put camera mount in Tacoma, Wired says
GoPro (GPRO) and Toyota (TM) are partnering to place a a GoPro camera mount on the roofline of every new 2016 Toyota Tacoma, a first for a carmaker, says Wired. Toyota will not supply the camera, added Wired. Shares of GoPro are up 6.5% while Toyota is up fractionally. Reference Link
12:16 EDTTM, VLKAY, GMHERE offering free HD map data for automated vehicle tests
HERE, a Nokia (NOK) company, announced it is making high-definition mapping data of sections of public roads in four countries available to all automotive companies to support their highly automated vehicle initiatives. HERE is offering HD mapping data of specific stretches of open road in Silicon Valley and Michigan in the United States, as well as in France and Germany, to all carmakers and automotive suppliers for test purposes. HERE plans to offer data for Japan too later this year. HERE is currently working with more than 10 "leading automotive companies" on automated driving projects, the company said. Publicly traded automakers include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
06:43 EDTGMGM's Opel to cut production at two German factories, Reuters reports
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