Dana Holding CorporationNYSE
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  • Thu, Dec. 1, 10:59 AM
    • Auto supplier stocks are solidly higher as many automakers are beating estimates with their reports on U.S. sales for November.
    • Although a high level of incentive spending could dampen enthusiasm when the auto companies report earnings, that's no bother for names like American Axle Manufacturing (AXL +5.4%), Modine Manufacturing (MOD +5.5%), Dana (DAN +4%), BorgWarner (BWA +3.3%) and Tenneco (TEN +3.9%) that are looking for volume.
    | Thu, Dec. 1, 10:59 AM | 1 Comment
  • Fri, Nov. 18, 7:11 AM
    • Dana (NYSE:DAN) announces that it landed the power-transmission and fluid power businesses of Brevini Group, S.p.A.
    • Under terms of the agreement, Dana plans to initially purchase an 80% share in the Brevini businesses, with an option to purchase the remaining 20% by 2020.
    • Dana has valued 100% of the Brevini businesses at €325M ($345.3M), including the assumption of approximately €100M ($106.3M) of debt.
    • "Brevini is a strong, well-run business that shares Dana's commitment to serving customers with advanced technologies that deliver exceptional performance and durability," says Dana CEO James Kamsickas.
    • The company says the transaction will be funded with cash on hand, with existing Brevini debt to be refinanced in the future.
    • Dana expects the purchase to be accretive to earnings in 2017.
    • Source: Press Release
    | Fri, Nov. 18, 7:11 AM
  • Tue, Nov. 8, 9:04 AM
    | Tue, Nov. 8, 9:04 AM | 4 Comments
  • Thu, Oct. 20, 7:27 AM
    • Dana Holdings (NYSE:DAN) reports currency-adjusted sales fell 4% in Q3.
    • Weakness was seen in the commercial vehicle and off-highway segments, while strong light-truck production in North America, Europe and Asia boosted results.
    • Adjusted EBITDA was up 1% Y/Y to $168M. Adjusted EBITDA as a percentage of revenue improved 70 bps to 12.1%.
    • The company affirmed full-year targets of $5.8B in sales and adjusted EBITDA of $655M.
    • Previously: Dana Holding beats by $0.06, misses on revenue (Oct. 20)
    • DAN +2.12% premarket to $14.96.
    | Thu, Oct. 20, 7:27 AM
  • Thu, Oct. 20, 7:01 AM
    • Dana Holding (NYSE:DAN): Q3 EPS of $0.49 beats by $0.06.
    • Revenue of $1.38B (-6.1% Y/Y) misses by $50M.
    • Shares +2.12% PM.
    • Press Release
    | Thu, Oct. 20, 7:01 AM
  • Wed, Oct. 19, 5:30 PM
    | Wed, Oct. 19, 5:30 PM | 1 Comment
  • Wed, Oct. 12, 8:30 AM
    • Dana Holding (NYSE:DAN) announces it purchased strategic assets from Brazilian firm SIFCO S.A., including manufacturing capabilities.
    • The company says the acquisition will enable Dana to enhance its vertically integrated supply chain.
    • "This is an opportune time to invest in strategic and selective assets in Brazil that will further strengthen our position as one of the most trusted, top-tier suppliers to the mobility industry – thus positioning us for future profitable growth throughout the region," notes CEO James Kamsickas.
    • Source: Press Release
    | Wed, Oct. 12, 8:30 AM
  • Tue, Oct. 11, 9:33 AM
    | Tue, Oct. 11, 9:33 AM | 18 Comments
  • Fri, Sep. 16, 7:46 AM
    • Barclays upgrades Dana Holding (NYSE:DAN) to an Overweight rating after having the vehicle manufacturer supplier locked in at Neutral.
    • Wall Street ratings scorecard on Dana: 2 Buys, 4 Holds, 0 Sells.
    • Shares of Dana are up 7.7% YTD and trade close to their highest level of 2016.
    | Fri, Sep. 16, 7:46 AM
  • Thu, Sep. 8, 1:26 PM
    • Dana (DAN +1.1%) plans to invest $51M to build a new gear manufacturing facility in Győr, Hungary. Construction is scheduled to begin in the first quarter of 2017.
    • The company says the 140K square-foot facility will provide customers in the region with access to its advanced design, engineering, and manufacturing expertise to support their sourcing initiatives and technology strategies.
    • Dana has other facilities operating in Győr.
    • Source: Press Release
    | Thu, Sep. 8, 1:26 PM
  • Wed, Aug. 31, 10:26 AM
    • U.S. auto sales are expected to show a decline of 2% to 5% for August amid a dialing back of discounting activity, according to the range of forecasts from Kelley Blue Book, Edmunds, J.D. Power, and LMC Automotive. General Motors  is poised to report a loss of market share as its plan to cut out fleet sales impacts volume.
    • Bloomberg estimates the seasonally adjusted selling rate for the month will be 17.2M, down from 17.9M last month.
    • The sales dip isn't necessarily a bottom line drag for the sector due to reduced discounting and the increasing mix of higher-profit SUVs and trucks. But higher profit hasn't lifted automaker stocks this year, with the group having trouble gaining traction and trading with low forward PE multiples (GM 5.5, Ford 6.8, Honda 10.5, Toyota 10.9).
    • Auto parts stocks (LEA, TEN, BWA, DAN, MPAA, CPS, DLPH, AXL, TOWR, ACW, FENX, MTOR, THRM, SMP, ALV, MOD, SRI) will be on watch tomorrow when the reports roll in as the sector frequently sees some extra volatility on days U.S. auto sales are disclosed.
    | Wed, Aug. 31, 10:26 AM | 66 Comments
  • Tue, Aug. 16, 9:35 AM
    • Ford (NYSE:F) says it will make an announcement at 2:00 p.m. EDT to discuss the company's expanding presence in Silicon Valley and autonomous vehicle development.
    • The automaker will also host a conference call with analysts at 4:00 p.m. to discuss its smart mobility ambitions. The roster of Ford execs on the call include global development and technology heavyweights.
    • Earlier today on CNBC, CEO Mark Fields joined the group of leaders predicting a seismic change in the automobile industry.
    • "Our view is autonomous vehicles could have just as much [of an] impact on society as Ford's moving assembly line did 100 years ago," Fields noted. In an important revelation, Fields says more customers are telling the company that they are interested in the autonomous driving option -- an anecdote that  runs counter to the view of some that drivers don't want to give up the wheel (partially or fully).
    • Field hinted that the scheduled autonomous announcement for today will be significant. It's a development that could have some bearing on the self-driving plans of General Motors (NYSE:GM), Audi (OTCPK:VLKAY), Tesla Motors (NASDAQ:TSLA), Nissan (OTCPK:NSANY), and Toyota (NYSE:TM). Lyft (Private:LYFT) and Uber (Private:UBER) are also feeling their way around the autonomous driving landscape. Plenty of auto suppliers such as Mobileye (NYSE:MBLY), Autoliv (NYSE:ALV), BorgWarner (NYSE:BWA), Tenneco (NYSE:TEN), Dana (NYSE:DAN), STMicroelectronics (NYSE:STM), and Delphi Automotive (NYSE:DLPH) will also be listening intently to details on Ford's plans.
    • Previously: Ford pushes the accelerator on autonomous vehicles (Aug. 16)
    | Tue, Aug. 16, 9:35 AM | 141 Comments
  • Tue, Aug. 2, 10:33 AM
    • Auto parts stocks after lower after Detroit automakers disappoint with July U.S. sales growth.
    • The sector has been on watch since last week when Ford warned on a plateauing of the U.S. automobile market.
    • Leading decliners include Lear (LEA -4.7%), Tenneco (TEN -3.8%), BorgWarner (BWA -3.8%), Dana Holding (DAN -3.2%), Motorcar Parts of America (MPAA -3.3%), Cooper-Standard Holdings (CPS -2.9%), and Delphi Automotive (DLPH -2.4%).
    | Tue, Aug. 2, 10:33 AM
  • Wed, Jul. 27, 5:57 PM
    • Dana Holding (NYSE:DAN) declares $0.06/share quarterly dividend, in line with previous.
    • Forward yield 1.74%
    • Payable Sept. 9; for shareholders of record Aug. 19; ex-div Aug. 17.
    | Wed, Jul. 27, 5:57 PM
  • Thu, Jul. 21, 12:00 PM
    | Thu, Jul. 21, 12:00 PM
  • Thu, Jul. 21, 11:57 AM
    • Auto parts stocks are rallying after strong reports from Dana Holding (DAN +9.7%), Johnson Controls (JCI +3.4%), and General Motors.
    • GM showed strong results in North America and issued reassuring guidance, while both Dana and Johnson beat on the top line.
    • Sector movers: BorgWarner (BWA +2%), Accuride (ACW +3.2%), Fenix Parts (FENX +4.8%), Tenneco (TEN +3.6%), Westport Fuel Systems (WPRT +4%), Cooper-Standard Holdings (CPS +2.8%), and Meritor (MTOR +2.2%).
    • Previously: GM +4% as profit surges, full-year guidance raised (July 21)
    • Previously: More on Dana Holding's Q2 (July 21)
    | Thu, Jul. 21, 11:57 AM | 5 Comments