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News Breaks
February 11, 2013
07:13 EDTVLKAY, FVolkswagen's "mega-platform" to affect competiton worldwide, Reuters reports
Since the days of Henry Ford’s (F) Model T, automakers have considered the "global car" to be their Holy Grail - the same basic design that can be built, in subtle variations, and sold in different markets. Take that fundamental concept, stretch it across many different vehicle types, sizes and brands, then build them by the millions, and you begin to sense the enormity of Volkswagen's (VLKAY) rapidly evolving "mega-platform" strategy and its potential impact on competitors around the globe, reports Reuters.Reference Link
News For VLKAY;F From The Last 14 Days
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March 3, 2015
16:23 EDTFOn The Fly: Closing Wrap
Stocks on Wall Street were lower, as the major averages receded from record levels. The Dow and S&P 500 closed yesterday at all-time highs, though the market was unable to build upon those records. Auto sales for February included disappointments for several companies, but that was quickly blamed on the poor weather during the month. With the economic calendar light, investors began looking forward to end of the week, when the highly anticipated monthly nonfarm payrolls are released. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Automakers reported on their sales in the U.S. during February, with several falling short of expectations. Ford (F) reported sales fell about 2% last month compared to the prior year, and its stock fell 40c, or 2.41%, to $16.17 afterward. Shares of Fiat Chrysler (FCAU), which reported a 6% increase in U.S. sales last month, declined 52c, or 3.28%, to $15.31. General Motors (GM) reported its February U.S. sales rose a bit over 4%, but that was below the nearly 6% increase that had been forecast by analysts, and shares gained 19c, or 0.51%, to $37.80... Target (TGT) shares gained 32c, or 0.41%, to $78.00 as the company held its investor day meeting. During the meeting, the retailer guided for its fiscal 2015 EPS to be $4.45-$4.65, versus consensus $4.50, and projected that its sales will grow 2%-3% during the fiscal year. Target also said it is targeting $2B in share repurchases this year and said it expects 5%-10% annual dividend growth. MAJOR MOVERS: Among the notable gainers was Orexigen (OREX), which surged $1.85, or 31.95%, to $7.64 after the company disclosed that its weight loss drug, Contrave, demonstrated a statistically significant benefit over placebo for cardiovascular events when announcing a method of treatment patent was issued by the USPTO. Also higher was Springleaf Holdings (LEAF), which gained $12.19, or 32.05%, to $50.23 after agreeing to acquire OneMain Financial from Citigroup (C) for $4.25B. Among the noteworthy losers was Primoris Services (PRIM), which fell $3.87, or 18.35%, to $17.22 after reporting fourth quarter results that fell short of consensus expectations and were below last year’s fourth quarter. Also lower were shares of Micron (MU), which fell $1.58, or 5.06%, to $29.66 after Nomura downgraded the stock to Neutral from Buy. INDEXES: The Dow fell 85.26, or 0.47%, to 18,203.37, the Nasdaq lost 28.20, or 0.56%, to 4,979.90, and the S&P 500 declined 9.61, or 0.45%, to 2,107.78.
13:22 EDTVLKAYMarchionne says he has ideal merger partner in mind, Reuters reports
Fiat Chrysler (FCAU) is exploring various options for M&A activity, said the company's CEO,Sergio Marchionne , according to Reuters. Marchionne added that he had an ideal partner in mind, and would not disclose its identity, but said that it is not Volkswagen (VLKAY), the news service reported. Reference Link
12:12 EDTFOn The Fly: Midday Wrap
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10:51 EDTVLKAYVolkswagen reports February U.S. sales down 5.2% to 25,710 units
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09:21 EDTFFord drops 3% after reporting weaker than expected February U.S. sales
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09:16 EDTFFord reports February U.S. sales down 1.9% to 180,383 units
Ford Motor U.S. sales totaled 180,383 vehicles in February, down 2% from a year ago. F-Series retail sales increased 7%. The training of employees in the new manufacturing process at Kansas City Assembly Plant – the second plant building the new F-150 – is now under way, with production scheduled to begin this month, as planned, Ford said.
February 26, 2015
10:39 EDTFOrbital ATK selected by 10 automakers to investigate Takata airbags
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February 25, 2015
07:20 EDTVLKAYVolkswagen CEO views Renschler, Diess as possible successors, Reuters reports
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February 24, 2015
13:13 EDTVLKAYTesla Model S named 'best overall' by Consumer Reports
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11:36 EDTFFord to hold a conference call
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05:09 EDTFFord launches training program at Kansas City plant to support F-150 production
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