FSYS
Fuel Systems Solutions, Inc.NASDAQ
1d
5d
1m
6m
1y
5y
10y
Advanced Chart
  • Wed, May 25, 8:20 AM
    • Fuel Systems Soluions (NASDAQ:FSYS) sets the terms of its merger with Westport Innovations (NASDAQ:WPRT).
    • Fuel Systems shareholders will be awarded 2.4755 shares of Westport for each share of Fuel Systems held at the completion of the merger, assuming the deal closes as scheduled on June 1.
    • The vote from Fuel Systems shareholders on the deal will be held on May 31.
    | Wed, May 25, 8:20 AM | 11 Comments
  • Mon, May 16, 10:54 AM
    • Fuel Systems Solutions (FSYS +2%) co-founder Pier Antonio Costamagna issues a statement on the company's upcoming merger with Wesport Innovations (WPRT +0.5%). The snippets below tell you pretty clearly which way Costamagna is voting with his 8.7% stake.
    • "It is stunning to me the FSS Board continues to move ahead with this merger in light of the consistent and alarming state of Westport."
    • "FSS shareholders are receiving no premium at the current implied offer, which only continues to decline."
    • "FSS will be a significant contributor but under the Amended Merger Agreement will receive an inadequate stake in the combined company."
    • Full statement
    • Now read Fuel Systems Solutions Shareholders Must Reject The Proposed Merger With Westport Innovations
    | Mon, May 16, 10:54 AM | 12 Comments
  • Thu, May 12, 4:26 PM
    • Westport Innovations (WPRT -7.2%) logged a miss on top and bottom lines in its Q1 report, facing "macro headwinds in multiple end markets."
    • The company logged a loss of $0.36/share and total EBITDA was negative as well, though an adjustment brought EBITDA at Westport Operations to break-even. Overall, EBITDA was -$10.6M after adjustment, short of a consensus for -$7.9M.
    • Revenue at units: Cummins Westport, $65M (down 11%); Weichai Westport, $29.9M (down 46.5%).
    • It noted five keys to 2016 strategy: Advance commercialization of Westport HPDI 2.0; Completing a merger with Fuel Systems Solutions (NASDAQ:FSYS) in early June; rationalize its portfolio (wrapping non-core asset sales); strengthening its balance sheet; and driving cost efficiencies within merged entities.
    • Westport will offer full-year guidance after it closes the merger with Fuel Systems.
    • Conference call to come at 5 p.m. ET.
    | Thu, May 12, 4:26 PM | 6 Comments
  • Tue, May 10, 8:41 AM
    • Pier Antonio Costamagna, a co-founder of Fuel Systems Solutions (NASDAQ:FSYS), will be voting against the company's proposed merger with Westport (NASDAQ:WPRT).
    • Reasons: 1) The Amended Merger Agreement does not reflect a fair value for FSS shareholders. 2)The Cartesian Financing clearly strangles the future of the combined firm. 3) FSS' split board vote and extraordinary director actions demonstrate a clear concern over future value of the combined business.
    • Costamagna has sole voting power over 1,576,043 shares of FSS common stock, representing an approximately 8.7% stake.
    | Tue, May 10, 8:41 AM | 8 Comments
  • Mon, May 9, 6:38 AM
    • Fuel Systems (NASDAQ:FSYS): Q1 EPS of -$0.36
    • Revenue of $56.1M (-11.4% Y/Y)
    | Mon, May 9, 6:38 AM
  • Mon, May 2, 8:47 AM
    • Fuel Systems Solutions (NASDAQ:FSYS) announces that a revised definitive proxy statement/prospectus has been filed with the SEC in connection with its pending merger with Westport Innovations (NASDAQ:WPRT).
    • The filing provides supplemental disclosure related to an amendment entered into on March 6, 2016, and other recent developments.
    • Fuel Systems' special meeting of stockholders is scheduled to take place on May 31.
    | Mon, May 2, 8:47 AM | 5 Comments
  • Thu, Mar. 17, 9:27 AM
    • Proxy advisory firm Glass Lewis is next to recommend that stockholders approve the Amended Agreement and Plan of Merger between Westport (NASDAQ:WPRT) and Fuel Systems Solutions (NASDAQ:FSYS).
    • Westport has scheduled a special meeting for March 18 to consider and vote on certain items of business in connection with the proposed merger.
    • Previously: ISS recommends Westport merger to shareholders (Mar. 14 2016)
    | Thu, Mar. 17, 9:27 AM | 5 Comments
  • Mon, Mar. 14, 4:27 PM
    • Fuel Systems (NASDAQ:FSYS): Q4 EPS of -$0.38 misses by $0.27.
    • Revenue of $67.3M (-21.2% Y/Y) beats by $1.3M.
    | Mon, Mar. 14, 4:27 PM
  • Mon, Mar. 14, 8:28 AM
    • Proxy advisory firm ISS is recommending that stockholders approve the Amended Agreement and Plan of Merger between Westport (NASDAQ:WPRT) and Fuel Systems Solutions (NASDAQ:FSYS).
    • Westport has scheduled a special meeting for March 18 to consider and vote on certain items of business in connection with the proposed merger.
    • Previously: Westport signs amendment to merger agreement with Fuel Systems (Mar. 07 2016)
    | Mon, Mar. 14, 8:28 AM | 3 Comments
  • 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, Mar. 7, 2:07 PM | 1 Comment
  • Mon, Mar. 7, 8:55 AM
    • Westport Innovations (NASDAQ:WPRT) has signed an amendment to its merger agreement with Fuel Systems Solutions (NASDAQ:FSYS).
    • The amendment, which has been approved by the boards of both companies, includes several updated changes in relation to the previously announced merger agreement on September 1, 2015.
    • See the details here
    | Mon, Mar. 7, 8:55 AM | 5 Comments
  • Fri, Mar. 4, 7:10 AM
    • Fuel Systems Solutions (NASDAQ:FSYS) names Andrea Alghisi as its new Chief Operating Officer.
    • Alghisi formerly worked at McKinsey and AlixPartners in roles focused on turnarounds and growth strategy.
    | Fri, Mar. 4, 7:10 AM
  • Thu, Mar. 3, 5:57 PM
    • Fuel Systems Solutions (FSYS +10.3%) has named Andrea Alghisi to return to the chief operating officer role.
    • Alghisi had been interim COO when was with AP Services, until his resignation as managing director of AlixPartners at the end of Q3. He's coming in most recently from McKinsey & Co.
    • Alghisi "will oversee operations and resume a leadership role in implementing the restructuring plan adopted by our board," says CEO Mariano Costamagna. "Having planned and begun implementation of our 2015 cost reduction and operating profit improvement initiatives, he is well suited to this role and eminently well qualified to provide continued leadership and direction."
    | Thu, Mar. 3, 5:57 PM | 8 Comments
  • Fri, Jan. 8, 12:49 PM
    | Fri, Jan. 8, 12:49 PM | 2 Comments
  • Dec. 11, 2015, 6:40 AM
    • Fuel Systems (NASDAQ:FSYS): Q3 EPS of -$0.48 misses by $0.35.
    • Revenue of $65.6M (-22.9% Y/Y) misses by $0.8M.
    | Dec. 11, 2015, 6:40 AM | 1 Comment
  • Nov. 16, 2015, 8:57 AM
    • Jill Bodkin, a board member since 2008 and Chairman of the Board since 2014, has resigned as Chairman but remains a Director. Warren Baker will take her place. Separately, Doug King, a board member since 2012 and Chair of Audit Committee, has announced his resignation from the board.
    • Westport (NASDAQ:WPRT) also intends to make room for three new proposed board members as part of its upcoming merger with Fuel Systems Solutions (NASDAQ:FSYS).
    • Previously: Fuel Systems to be acquired by Westport in all-stock deal; shares halted (Sep. 01 2015)
    | Nov. 16, 2015, 8:57 AM | 4 Comments