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Stock Market & Financial Investment News

News For VLKAY;GM;F;TM;NSANY;HMC;AN From The Last 14 Days
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July 2, 2015
16:37 EDTGM, FStocks end holiday shortened week lower after Greece defaults
Stocks on Wall Street began with a slide on Monday, but not as precipitous a drop as may have been feared, after Greece shut down its banks and announced it will put the concession deal offered by its creditors, and essentially its continued inclusion in the eurozone, up for a popular vote. The major averages regained a bit of their losses in the next two sessions as news regarding the Greek situation continued to dominate the headlines. U.S. markets are closed on Friday in observance of Independence Day, but investors will be returning to big news, for better or worse, following the referendum that is scheduled to occur on July 5. MACRO NEWS: In the U.S., the monthly nonfarm payrolls report showed the addition of 223,000 jobs, versus expectations for 233,000 jobs to have been added last month. The unemployment rate fell to 5.3% from the prior month’s 5.5% rate. Factory orders fell 1.0% in May, which was larger than the expected 0.5% decline. The Conference Board's consumer confidence index rose to 101.4 in June from a revised 94.6 reading for May, beating expectations for a reading of 97.4. Markit's manufacturing purchasing managers' index for June came in at 53.6, narrowly above the 53.4 forecast. ISM's manufacturing index rose to 53.5 in June, topping May's 52.8 reading and the 53.2 consensus forecast. Construction spending rose 0.8% in May, versus the expected growth of 0.5%. Additionally, Puerto Rico's Governor Alejandro Garcia Padilla, in an interview published by the New York Times, warned that the commonwealth's "debt is not payable" and a report warned that the territory's crisis was even worse than previously thought... In Europe, Greek Prime Minister Alexis Tsipras called a surprise referendum on the terms put forth by the country’s creditors in exchange for additional rescue funds and the country shut down its banks until after this Sunday's vote. Standard & Poor's Ratings lowered its sovereign credit ratings on Greece, stating that the probability of the country exiting the eurozone is now about 50%, in its view. Greece officially missed its $1.7B payment to the International Monetary Fund, as expected. Greece's government requested a third bailout from the eurozone, but the request was dismissed by European officials. Eurogroup president Jeroen Dijsselbloem said Wednesday that he saw no need for further talks on Greece at that point as he awaits the result of its referendum... In China, the People’s Bank cut the one-year lending rate by 25 basis points to 4.85% and lowered the amount of reserves certain banks are required to hold by 50 basis points, but the same day the Shanghai Composite entered bear market territory, meaning the index was down more than 20% from its peak in mid-June. Chinese manufacturing PMIs came in short of expectations, as the HSBC/Markit PMI slipped to a final 49.4 in June from the flash reading of 49.6, while the government's official manufacturing PMI fell to 50.1 in June from 50.9 in May. COMPANY NEWS: Shares of BP (BP) advanced after the oil major announced it has reached agreements in principle to settle all U.S. federal and state claims arising from the Deepwater Horizon accident and spill in 2010. BP said it will pay up to $18.7B to settle the claims and that the expected impact of its agreements would be to increase the cumulative pre-tax charge associated with the accident and spill by around $10B from $43.8B at the end of the first quarter... In a blockbuster deal in the insurance industry, ACE Limited (ACE) agreed to acquire Chubb (CB) in a cash and stock transaction valued at over $28B. The combination will create the number one global Property and Casualty insurance company by P&C underwriting income and the number two U.S. public P&C insurer by market cap. Elsewhere on the M&A front, managed healthcare company Centene (CNC) announced a definitive agreement to acquire managed health care services rival Health Net (HNT) in a cash and stock deal valued at approximately $6.8B, including the assumption of approximately $500M of debt. Additionally, Willis Group (WSH) agreed to combine in an all-stock merger of equals with Towers Watson (TW) and Chambers Street Properties (CSG) announced a merger agreement with Gramercy Property Trust (GPT)... U.S. airline stocks dropped after the Associated Press reported that the Justice Department is investigating potential "unlawful coordination" between companies attempting to artificially limit growth to keep fares high... Juno Therapeutics (JUNO) advanced after the company announced a ten-year global collaboration for the development and commercialization of immunotherapies with Celgene (CELG). As part of the deal, Celgene will make an initial payment of approximately $1B, which includes the purchase of approximately 9.1M shares of Juno stock at $93 per share... Pentair (PNR) gained after Nelson Peltz's Trian Group confirmed it has taken a 7.24% stake. Trian urged the company to consider acquisitions and other industrial parts makers, including SPX Corp. (SPW), Flowserve (FLS), Xylem (XYL) and Colfax (CFX), also advanced following the activist's disclosure of its position... In a ruling with implications for coal miners and electric utilities, the Supreme Court overturned the EPA's Mercury Admissions and Toxic Standard, or MATS, rule, stating that the regulator did not properly take into account the costs to utilities and others in the sector in implementing a national standard for the reduction of power plant emissions of mercury and other air toxins... General Motors (GM) reported its U.S. sales fell 3% in June compared to the same month of last year, while Ford (F) said its sales grew 1.6% last month compared to last year. FCA US, the parent of the Chrysler and Jeep brands, reported U.S. sales increased 8% compared with sales in June 2014... Bond insurers MBIA (MBI) and Assured Guaranty (AGO) declined amid the worries about the debt situation in Puerto Rico. INDEXES: The Dow fell about 1.25% to close at 17,730.11, the Nasdaq declined about 1.43% to close at 5,009.21, and the S&P 500 dropped about 1.22% to close at 2,076.78.
11:45 EDTFFord recalls 433,000 vehicles in North America for body control module issue
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07:01 EDTANAutoNation reports June retail new vehicle unit sales up 9% to 27,862
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05:36 EDTVLKAYVolkswagen said robot kills man at Germany plant, AP reports
Volkswagen said a robot has killed a contractor at one of its production plants in Germany, reports the Associated Press. A company spokesman said initial conclusions indicate that human error was to blame. Reference Link
July 1, 2015
16:28 EDTGMOn The Fly: Top stock stories for Wednesday
Stocks on Wall Street opened higher amid hopes for a resolution to the Greek debt crisis. The market also received help from positive reports from the ISM on manufacturing and ADP on the labor market. The averages saw their highs shortly after the open and then gradually drifted off those highs, while moving in a fairly narrow range. Investors will now be looking to the release of tomorrow’s nonfarm payrolls report, which will be out a day earlier than normal due to the Independence Day holiday. ECONOMIC EVENTS: In the U.S., ADP reported the private sector added 237,000 jobs in June, versus expectations for 218,000 job additions. Markit's manufacturing purchasing managers' index for June came in at 53.6, narrowly above the 53.4 forecast. ISM's manufacturing index rose to 53.5 in June, topping May's 52.8 reading and the 53.2 consensus forecast. Construction spending rose 0.8% in May, versus the expected growth of 0.5%. In China, manufacturing PMIs came in short of expectations. The HSBC/Markit PMI slipped to a final 49.4 in June from the flash reading of 49.6, while the government's official manufacturing PMI fell to 50.1 in June from 50.9 in May. In Europe, Greece officially missed its $1.7B payment to the International Monetary Fund last night. Reports then indicated that Greece's government was willing to make concessions that get it much closer to creditor demands. The new proposal for budget cuts and policy overhauls from Prime Minister Alexis Tsipras was dismissed by European officials, however, and Eurogroup president Jeroen Dijsselbloem said that he sees no need for further talks on Greece at this point and that he awaits the result of this Sunday's scheduled referendum. COMPANY NEWS: In a blockbuster deal in the insurance industry, ACE Limited (ACE) agreed to acquire Chubb (CB) in a cash and stock transaction valued in excess of $28B that will create the number one global Property and Casualty insurance company by P&C underwriting income and the number two U.S. public P&C insurer by market cap. ACE shares advanced 77c, or 0.76%, to $102.45 following the deal announcement, while Chubb surged $25.63, or 26.94%, to $120.77... U.S. airline stocks dropped after the Associated Press reported that the Justice Department is investigating potential "unlawful coordination" between companies attempting to artificially limit growth to keep fares high. Shares of American Airlines (AAL), Delta Air Lines (DAL), Southwest (LUV), United Continental (UAL) and JetBlue (JBLU) all closed lower by between 1.4% to 3.4% following the report. MAJOR MOVERS: Among the notable gainers was Schnitzer Steel (SCHN), which advanced 13.45% to $19.82 after BofA Merrill Lynch upgraded the shares two notches to Buy from Underperform and raised its price target to $21, saying scrap pricing should be nearing a trough with stability expected ahead. Also higher were shares of Dycom (DY), which gained 7.87% to $63.48 following a fourth quarter guidance hike, an announcement of a $40M repurchase plan and an upgrade to Buy at DA Davidson. Among the noteworthy losers was Baxter (BAX), which fell 44.43% to $38.86 after its spin-off of Baxalta (BXLT), whose shares fell 1.38% to $31.50. Baxter was downgraded to Neutral from Outperform at Credit Suisse after the research firm updated its valuation of Baxter to reflect the split. Also lower was Graham Holdings (GHC), which fell 35.48% to $693.63 after the company completed its spin-off of Cable ONE (CABO), whose shares lost 6.23% to $399. Additionally, shares of General Motors (GM) fell 0.87% to $33.04 after the company halted production at its Russian plant and reported June U.S. sales dropped 3%. INDEXES: The Dow rose 138.40, or 0.79%, to 17,757.91, the Nasdaq gained 26.26, or 0.53%, to 5,013.12, and the S&P 500 advanced 14.31, or 0.69%, to 2,077.42.
14:50 EDTGMPriceline, OnStar partner on hotel booking service for drivers
OnStar, a wholly owned subsidiary of GM (GM), and priceline.com, a part of The Priceline Group (PCLN), have partnered to offer drivers the service of booking hotels while traveling. OnStar Guidance plan subscribers in the U.S. and Canada can now secure a stay via OnStar's new AtYourService feature. Advisors can verbally provide information on hotel availability, cost, amenities and ratings and then book a hotel reservation for the subscriber through priceline.com and download those directions to the vehicle's navigation system.
13:05 EDTGM, FOn The Fly: Top stock stories at midday
Stocks on Wall Street remain higher at midday but off their best levels, which were achieved shortly after the open. The strength is being largely attributed to hopes for a resolution to the Greek crisis, but the move was also supported by better than expected domestic data on employment, construction and manufacturing. ECONOMIC EVENTS: In the U.S., ADP reported the addition of 237,000 private sector jobs in June, versus expectations for 218,000 job additions. Markit's manufacturing purchasing managers' index for June came in at 53.6, narrowly topping the 53.4 forecast. ISM's manufacturing index rose to 53.5 in June, topping May's 52.8 reading and the 53.2 consensus forecast. Construction spending rose 0.8% in May, versus the expected growth of 0.5%. In China, manufacturing PMI's came in short of expectations. The HSBC/Markit PMI slipped to a final 49.4 in June from the flash reading of 49.6 reading, while the official manufacturing PMI fell to 50.1 in June from 50.9 in May. In Europe, Greece officially missed its $1.7B payment to the International Monetary Fund, becoming the first developed country to do so. The Financial Times then reported the Greek government was indicating it was willing to make concessions that get it much closer to creditor demands. The new proposal for budget cuts and policy overhauls from Prime Minister Alexis Tsipras was dismissed by European officials, however, and uncertainty remains high surrounding the next steps in Europe. COMPANY NEWS: In a blockbuster deal in the insurance industry, ACE Limited (ACE) agreed to acquire Chubb (CB) in a transaction valued in excess of $28B in cash and stock. ACE said it expects that the deal will be immediately accretive to EPS and book value, and by year three, the transaction will be accretive to EPS on a double-digit basis and will be accretive to ROE. The combined company is expected to be the number one global Property and Casualty insurance company by P&C underwriting income and the number two U.S. public P&C insurer by market cap. ACE shares advance 2% following the deal announcement, while Chubb surged 29%... General Motors (GM) reported its U.S. sales fell 3% in June compared to the same month of last year, while Ford (F) said its sales grew 1.6% last month compared to last year. FCA US, the parent of the Chrysler and Jeep brands, reported U.S. sales increased 8% compared with sales in June 2014. MAJOR MOVERS: Among the notable gainers was Schnitzer Steel (SCHN), which rose 14% after BofA Merrill Lynch upgraded the shares two notches to Buy from Underperform and raised its price target to $21, saying it believes scrap pricing should be nearing a trough with stability expected ahead. Also higher were shares of Dycom (DY), which gained 7% after the company raised its fourth quarter guidance for both earnings and revenue and announced a $40M stock repurchase program. Among the noteworthy losers was Chambers Street Properties (CSG), which fell 8% after announcing a merger agreement with Gramercy Property Trust (GPT), whose shares also slipped 3% following the announcement of the stock-for-stock transaction. Also lower were shares of Peabody Energy (BTU), which dropped 24% after cutting its second quarter guidance on Tuesday night. The company sees its adjusted EPS below its original target due to multiple factors, including flash flood events in June and price drops in Australian metallurgical coal. INDEXES: Near midday, the Dow was up 88.42, or 0.5%, to 17,707.93, the Nasdaq was up 13.01, or 0.26%, to 4,999.88, and the S&P 500 was up 8.62, or 0.42%, to 2,071.73.
12:24 EDTGMGeneral Motors halts production at single plant in Russia, AP reports
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11:09 EDTVLKAYVolkswagen of America reports June sales up 5.6% to 30,436 units
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10:34 EDTHMCHonda reports June U.S. sales up 4.2% to 134,397 units
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10:32 EDTTMToyota reports June U.S. sales up 4.1% to 209,912 vehicles
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10:26 EDTHMCHonda reports June U.S. sales up 4.2%, Bloomberg says
10:18 EDTFFord reaches full production at both F-150 plants
Reports 35% of sales went to fleet buyers and 18% of sales went to rental car companies in June.
10:07 EDTFFord expects shift towards small SUV segment to continue
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09:42 EDTNSANYNissan reports June U.S. sales up 13.3% to 124,228 units
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09:36 EDTGMGM reports June U.S. sales down 3% to 259,353 vehicles
General Motors said its total U.S. sales in June were down 3% to 259,353 vehicles when compared to last year. It ended the month with 70 days supply of inventory at 722,653 vehicles, compared to 63 days supply last year. "Industry sales continue to exceed expectations," GM said in today's press release. GM estimates that the seasonally adjusted annual selling rate for light vehicles in June was 17.3M units. Its 2015 estimate is 16.5M-17M.
09:32 EDTGMGeneral Motors reports June U.S. sales down 3% to 259,353 vehicles
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09:21 EDTFFord reports June U.S. sales up 1.6% to 225,647 units
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09:04 EDTNSANYNissan reports June U.S. sales up 13.3%, Bloomberg says
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06:47 EDTNSANY, HMC, TMToyota, Nissan, Honda pushing more fuel cell vehicles on roads, AP reports
Toyota (TM), Nissan (NSANY), and Honda (HMC) are collaborating to get more fuel cell vehicles on roads in what they call Japan’s push towards “a hydrogen society,” the Associated Press reports. The companies pledged up to $90,000 per hydrogen station per year, including building and maintenance, the report says. Reference Link
06:01 EDTFFord to host sales conference call
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05:31 EDTTMToyota announces resignation of Managing Officer Julie Hamp
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June 30, 2015
10:49 EDTGMGM, Navistar may announce commercial truck venture, Forbes reports
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June 29, 2015
15:51 EDTGMHyundai Motor becomes NFL sponsor, replacing GM
Hyundai (HYMLF) announced that it is now an official automotive sponsor of the National Football League. As part of the new sponsorship, Hyundai will have use of NFL trademarks across various marketing channels, including branded content, advertising and promotional materials. Note that General Motors (GM) was the previous automotive sponsor of the NFL.
14:57 EDTTM, NSANY, HMCTakata asks carmakers to delay price cut requests, Nikkei says
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11:52 EDTNSANYNissan recalling 12K cars in India for engine problems, The Times of India says
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June 28, 2015
16:34 EDTVLKAYVolkswagen plans Chinese budget-car lineup for 2018, Reuters says
Volkswagen CEO Martin Winterkorn said the company "will bring a budget-car family to [the Chinese] market in 2018, with an SUV, saloon and hatchback," reports Reuters, citing an interview with German newspaper Bild am Sonntag. Winterkorn noted that the vehicles will be built in China and will launch at a price point between EUR8000 and EUR11000, adding that Volkswagen "will see if this is something of interest for other markets as well." Reference Link
June 26, 2015
07:25 EDTVLKAYSuzuki says arbitration proceedings of VW dispute are over, Bloomberg says
Suzuki Motor Corp (SZKMF) said that arbitration proceedings to end a dispute with Volkswagen (VLKAY) over a failed partnership have ended, Bloomberg reports. The two automakers are waiting for the arbitrator's ruling on Suzuki’s effort to force VW to sell back a 19.9% stake, the report says, citing comments from Suzuki president Osamu Suzuki to investors. “We are embarrassed by the fact that the arbitration took such a long time, but we will disclose the conclusion as soon as it comes out,” the Suzuki president said at the annual shareholders meeting, according to Bloomberg. Reference Link
07:11 EDTHMCHonda restates earnings to adjust for airbag recall, Reuters reports
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June 25, 2015
18:52 EDTHMCAcura to recall 106,000 SUVs due to faulty air conditioner bolt
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11:49 EDTGMGM to take $600M charge to devalue Venezuelan ops, Detroit News reports
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10:01 EDTTM, VLKAY, F, NSANY, HMC, GMTrueCar Tprjects retail auto sales to consumers up 7.9% in June
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09:18 EDTGMGeneral Motors expects FY15 ETR-Adj. to be in mid-20% range
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07:23 EDTGMHouse Energy & Commerce Committee to hold a hearing
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07:01 EDTTM, NSANYToyota, Nissan expanding air bag recalls worldwide, Reuters reports
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06:49 EDTF, HMCSouth Korea orders recall of 24,808 vehicles with Takata air bags, Reuters says
South Korea's transport ministry stated that it ordered Honda (HMC), Fiat Chrysler (FCAU), Ford (F), and Renault to recall 24,808 vehicles that could contain faulty airbags manufactured by Takata (TKTDY), reports Reuters. Reference Link
June 24, 2015
18:57 EDTGMFiat Chrysler CEO 'very far' from pressuring GM investors, Reuters says
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17:57 EDTTM, NSANY, HMCWall Street applauds Senate giving go-ahead for 'fast track' trade powers
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16:00 EDTFActionable Options for Wednesday, June, 24
iPath S&P 500 VIX Short-Term Futures up 30c to 17.32 Option volume leaders: AAPL FB NFLX BAC VALE MU BABA WMB T F EBAY FCX TWTR BBRY
11:18 EDTGMGeneral Motors to host conference call
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10:27 EDTGMGeneral Motors slips to session lows, levels to watch
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10:00 EDTGMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Autoliv (ALV) downgraded to Sell from Neutral at Goldman... Catamaran (CTRX) downgraded to Neutral from Buy at UBS... Citi (C) downgraded to Hold from Buy at Deutsche Bank... Esperion (ESPR) downgraded to Neutral from Outperform at Credit Suisse... Fortinet (FTNT) downgraded to Neutral from Buy at Citi... General Motors (GM) downgraded to Neutral from Buy at Goldman... Goldman Sachs (GS) downgraded to Hold from Buy at Deutsche Bank... IBERIABANK (IBKC) downgraded to Neutral from Outperform at Baird... Independent Bank (INDB) downgraded to Underperform from Neutral at Baird... Inphi (IPHI) downgraded to Market Perform from Outperform at Northland... MoneyGram (MGI) downgraded to Neutral from Outperform at Macquarie... Sensata (ST) downgraded to Hold from Buy at Cross Research... Teradyne (TER) downgraded to Buy from Conviction Buy at Goldman... Alcobra (ADHD) downgraded to Hold from Speculative Buy at WBB Securities.
10:00 EDTFOn The Fly: Analyst Upgrade Summary
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09:10 EDTFOn The Fly: Pre-market Movers
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06:43 EDTGMGeneral Motors volatility low into downgrade to Neutral from Buy at Goldman
General Motors July call option implied volatility is at 17, August and September is at 19; compared to its 52-week range of 17 to 38, suggesting decreasing price movement into Goldman downgrade to Neutral and lowered its price target to $40 from $47 due to a weakness in China and softening US profit momentum.
06:27 EDTGMGeneral Motors downgraded to Neutral from Buy at Goldman
Goldman downgraded General Motors (GM) to Neutral and lowered its price target to $40 from $47 due to a weakness in China and softening US profit momentum. The firm's recent dealer visits in China indicate increased promotional activity and net price deterioration to support Shanghai GM JV product sales. Goldman said this, combined with margin pressure, will likely lead to a reduction in China guidance. For North America, the firm said Q1 carryover product pressure has extended into Q2 and could be pressured further with full availability of Ford's (F) F-150 heading into 2H 2015.
06:26 EDTFFord upgraded to Buy from Neutral at Goldman
Goldman upgraded Ford to Buy and increased its price target to $19 from $18. The firm expects earnings momentum to accelerate in 2H and into 2016 driven by full production of the new F-150 and further market share gains following the launch of the Super Duty. Goldman expects positive pricing and low levels of relative incentives with its refreshed products. Further, Goldman expects Ford's position in China to continue to improve given strong product launch tempo.
05:40 EDTFFord launches car-share business in six U.S. cities, London, CNBC says
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June 23, 2015
17:44 EDTF, GMGoldman ups Ford to Buy, cuts GM to Neutral
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17:27 EDTFFord upgraded to Buy from Neutral at Goldman
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17:27 EDTGMGeneral Motors downgraded to Neutral from Buy at Goldman
12:05 EDTFFord seeks to migrate driver-assist technologies over product lineup over 5 yrs
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10:57 EDTTMReport: Toyota offices raided by police, Globe and Mail says
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09:01 EDTANESL Partners lowers stake in AutoNation to 17.1% from 18.6%
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07:53 EDTHMCSenate Commerce, Science & Transportation Committee to hold a hearing
The Committee holds a hearing entitled, "Update on the Recalls of Defective Takata Air Bags and NHTSA’s Vehicle Safety Efforts" with Executive Vice President of Takata, Kevin Kennedy, Sr Vice President of Fiat Chrysler, Scott Kunselman and Executive Vice President of Honda, Rick Schostek on June 23 at 10 am. Webcast Link
June 22, 2015
12:41 EDTGMHyundai nearing sponsorship agreement with NFL, Bloomberg reports
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11:15 EDTGMGM activists not interested in merger with Fiat Chrysler, Financial Times says
General Motors (GM) activist holders have said they will not push for a merger with Fiat Chrysler (FCAU), reports the Financial Times. According to four people familiar with the matter, the activist contingent, which controls about 1.5% of GM shares, is more interested in cutting costs than embarking on a complicated merger transaction. One person close to the hedge funds said the investors believe consolidation makes sense but are unsure "that this particular consolidation makes sense." Reference Link
11:02 EDTGMGeneral Motors to invest $245M at Orion Assembly plant
General Motors said it will invest $245M and add 300 new jobs at its Orion Assembly plant to support launching an all-new vehicle program. "Orion Assembly is a breeding ground for manufacturing innovation,” said Cathy Clegg, GM North America vice president of Manufacturing and Labor Relations. "It serves as a model for how to engage the entire workforce at all levels to achieve success. The plant is up to the challenge of building this brand-new product, something it’s never seen before." Investment in Orion totals $962M since the UAW and GM worked together to reopen the previously idled plant in 2010, the automaker announced in a statement. Today's announcement is a part of the $5.4B GM has announced it will invest in U.S. manufacturing over the next three years. Approximately $3.1B of the $5.4B has been identified, leaving $2.3B to be announced by year end.
09:40 EDTFActive equity options trading on open
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06:57 EDTGMCNH Industrial upgraded to Neutral from Underweight at JPMorgan
JPMorgan upgraded CNH Industrial (CNHI) to Neutral saying the stock could find support until the potential General Motors (GM) and Fiat-Chrysler (FCAU) merger is resolved. The firm raised its price target for shares to $8.50 from $7.50.
06:35 EDTHMCHonda says links eighth death to Takata airbags, Reuters reports
Honda (HMC) has confirmed that a September 2014 death of a Los Angeles, California, women, has been connected to the rupture of a Takata (TKTDY) airbag inflator, Reuters reported on Friday. This death is the eighth related to the defective airbags. Reference Link
06:08 EDTGM, TMGeneral Motors to add over 243,000 hatcbacks to air bag recall, AP reports
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June 21, 2015
17:34 EDTVLKAYVolkswagen U.S. chief sees limited growth in near-term, Reuters says
In a Reuters interview at the company's U.S. headquarters, Volkswagen Group of America CEO Michael Horn remarked that the company sees "limited growth" in the U.S. over the next two years. Horn added that the company is planning a quicker pace for its SUV releases. Regarding the company's touted sales target of 800,000 annual vehicle sales by 2018, Horn said the 2018 goal "is still a relevant objective... But on the other hand, if you just focus on one year and one number you would do crazy things, so the most important thing is to have a long-term strategy." Reference Link
15:17 EDTVLKAYGestamp plans Tennessee plant to supply Volkswagen, WSJ says
Gestamp plans to open a pressing plant in Chattanooga, Tennessee to supply Volkswagen, reports the Wall Street Journal, citing people familiar with the situation. The report notes that Gestamp will create 500 new jobs at the facility, which will help produce Volkswagen's CrossBlue midsize SUV. Reference Link
June 19, 2015
10:50 EDTVLKAY, HMC, TM, GM, F, NSANYEPA proposes new rules for medium- and heavy-duty truck emissions
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06:58 EDTVLKAYVolkswagen’s Diess expected to cut costs, boost profit, WSJ reports
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06:04 EDTTMToyota CEO to stand by arrested US executive Julie Hamp, Financial Times says
Toyota CEO Akio Toyoda apologized for the arrest of the company's first female western senior executive although it vowed to stand by her for now, reports the Financial Times. Toyoda commented, "Julie Hamp is an invaluable colleague... What I can do now is to believe in my colleague and co-operate fully with the investigation." Hamp was arrested on suspicion of illegally importing a prescription drug from the U.S. Reference Link
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