Wed, Oct. 26, 7:32 AM
Tue, Oct. 25, 5:30 PM
- AB, AGCO, AIT, ALLY, AOS, AVX, AVY, BA, BCO, BEN, BIIB, BOKF, BSX, CFR, CG, CMCSA, DTE, ENTG, EVR, EXAS, FDML, FLIR, GD, GNRC, GRA, GRMN, GRUB, HBAN, HES, HLT, IR, KO, LEA, LH, LRN, LUV, MDCO, MDLZ, MKTX, MMYT, NAP, NDAQ, NEO, NOC, NSC, NYCB, OC, PAG, PB, POL, RES, ROL, SAIA, SIX, SLAB, SLGN, SMED, SONS, SPG, STRA, STT, UCBI, VG, VLY, VNTV, WEC, WM, WOOF, WYN
Tue, Oct. 11, 9:33 AM
- The German Bundesrat has fired a warning shot across the automobile industry that is yet another indication that seismic changes could be coming down the road.
- In a vote intended to pressure the EU, the Bundesrat approved a measure to ban gas and diesel vehicles by 2030. The Bundesrat doesn't set policy across Europe, but is considered influential.
- Naturally, the fact that the push is coming from the home of Mercedes, BMW, and Volkswagen also adds a degree of intrigue to the news and the underlying electrification push out of the trio.
- Wall Street analysts with their 1-year price target mindset haven't weighed in on the development, but there's plenty of discussion on Seeking Alpha about the implications.
- Previously: Germany says nein to internal combustion engines (Oct. 10)
- Related auto parts stocks: ACW, ALSN, ALV, AXL, BWA, CAAS, CPS, DAN, DLPH, DORM, FDML, FENX, GNTX, JCI, LDL, LEA, LKQ, MBLY, MLR, MNRO, MOD, MPAA, MPG, MTOR, PLOW, SMP, SRI, STRT, SUP, STRT, TEN, THRM, TEN, TOWR, UFAB, VC, VOXX, WBC, ZX.
Tue, Sep. 6, 12:08 PM
- A subsidiary of Icahn Enterprises (IEP +1.8%) fires off an offer to acquire the remaining shares of Federal-Mogul (FDML) it doesn't own for $9.25 per share in an all-cash transaction.
- Icahn Enterprises made an offer earlier this year at $7.00 per share.
- Federal-Mogul’s board has recommended that Federal-Mogul stockholders accept the offer and tender their shares.
- Shares of FDML are currently halted.
- Source: Press Release
Wed, Jul. 27, 7:35 AM
Tue, Jul. 26, 5:30 PM
- ANGI, ANTM, ARMH, AUO, AVX, BA, BAH, BOKF, CFR, CG, CMCSA, CRCM, CRI, DCIX, DHX, DPS, DX, DXYN, ENTG, ETM, EVR, FCAU, FCF, FDML, FLIR, FSV, GCI, GD, GIB, GIL, GLW, GRMN, GT, HES, HLT, HUN, I, IMS, IR, KO, LH, LL, LVLT, MDCO, MDLZ, MHO, MMYT, MO, NDAQ, NEE, NOC, NSC, NYCB, OC, PB, POL, Q, R, RES, ROK, ROL, RTIX, SALT, SEIC, SIX, SLAB, SLGN, SNAK, SO, SONS, SPG, STM, STRA, STT, SUP, SVU, TMUS, TPH, TYPE, UCBI, UFS, UMC, VLY, WCIC, WEC, WEX, WIX, WM, WOOF, WYN
Mon, Jun. 20, 8:00 AM
- Federal-Mogul (NASDAQ:FDML) announces that it received an increased offer from Icahn Enterprises of $8 per share.
- The original offer from IEP was at $7 per share.
- FDML closed at $8.15 on Friday, but were up 5% in AH trading as investors began to factor in more negotiations.
Wed, Jun. 15, 12:00 PM
Wed, Apr. 27, 7:34 AM
- Federal-Mogul (NASDAQ:FDML): Q1 EPS of $0.31 beats by $0.04.
- Revenue of $1.9B (+3.3% Y/Y) beats by $10M.
Tue, Apr. 26, 5:30 PM
- ACCO, AGCO, ANTM, AOS, AVY, BA, BEN, BGCP, BHI, BOKF, BSX, CFR, CMCSA, CSL, DHX, DPS, DX, EVER, EVR, FDML, FI, GCI, GD, GIB, GPI, GRA, GRMN, GT, HES, HLT, IART, IP, JLL, LDOS, LEA, LLL, LRN, MDLZ, MKTX, MVIS, NAP, NDAQ, NEO, NMR, NOC, NS, OC, OSIS, PB, RDN, RES, ROK, ROL, SAIA, SC, SIX, SLAB, SLGN, SMED, SO, SONS, STM, STNG, STT, SUP, SXC, TGNA, TKR, TPH, UMC, UTX, VLY, WEX, WOOF
Mon, Mar. 7, 2:07 PM
- Select auto parts stocks are higher after Westport Innovations (WPRT +14%) and Fuel Systems Solutions (FSYS +4.9%) update their merger agreement.
- M&A speculation has increased this year in the auto parts group.
- Sector movers include Fenix Parts (FENX +11.4%), Federal-Mogul (FDML +9.4%), Accuride (ACW +8.3%), Superior Industries International (SUP +7.5%), and Stoneridge (SRI +8.3%).
- Previously: Westport signs amendment to merger agreement with Fuel Systems (Mar. 07 2016)
Mon, Feb. 29, 12:55 PM
Mon, Feb. 29, 9:17 AM
Mon, Feb. 29, 8:24 AM
- Federal-Mogul (NASDAQ:FDML) reports Powertrain division revenue rose 2.6% to $1.07B in Q4.
- Motorparts division revenue fell 3.8% to $792M.
- Americas sales grew 6% to $447M primarily driven by strong domestic aftermarket sales in the U.S.
- EMEA sales declined 3% to $285M mainly due to softness in Western European aftermarket and OE sales.
- Gross margin rate grew 250 bps to 15% for the quarter.
- SG&A expense rate expanded 40 bps to 11%.
- Operational EBITDA increased 37.8% to $164M.
- Previously: Federal-Mogul beats by $0.10, misses on revenue (Feb. 29 2016)
- +40.9% after the company received a buyout offer.
Mon, Feb. 29, 7:19 AM
- Federal-Mogul (NASDAQ:FDML): Q4 EPS of $0.22 beats by $0.10.
- Revenue of $1.8B (+0.6% Y/Y) misses by $10M.
Mon, Feb. 29, 7:10 AM
- Already an owner of 82% of Federal-Mogul (NASDAQ:FDML), Icahn Enterprises (NASDAQ:IEP) offers $7 per share for the stock it doesn't have. That comes against a closing price of $4.98 on Friday.
- The deal would need to be approved a special committee of independent directors of FDML and by a majority of non-Icahn-affiliated stockholders.