Tue, Nov. 10, 8:17 PM
Tue, Nov. 10, 5:30 PM
Sat, Oct. 31, 12:51 PM
- The European Automobile Manufacturers Association issued a statement this week in which it forecasts that a "substantial number" of diesel models will have to be phased out earlier than anticipated.
- The harsh assessment was mirrored by several heavyweight CEOs at the Tokyo Motor Show. The major focus of the event has been next-gen concepts like hydrogen-powered cars and self-driving features, while execs such as Nissan's Carlos Ghosn have marginalized the future of diesel.
- Many automobile industry insiders have noted that diesel was in decline due to the focus on emissions even before Volkswagen (OTCQX:VLKAY) rocked the industry with a cheating scandal.
- The mix of technology, EV, hydrogen, and powertrain changes have kept analysts buzzing over the proper valuations to assign to major players. A reset of demand expectations in China also factors in significantly.
- Automobile industry stocks: DAN, BWA, MTOR, TRW, FDML, DLPH,GNTX, SMP, AXL, MPAA, ALV, MOD, DLPH, VC, THRM, WPRT, GM, F, TM, FCAU, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, TTM, TSLA, THRM, BWA, JCI, TEN, CPS, LDL, TOWR, OTCPK:PEUGF, OTC:RNSDF, OTCPK:RNLSY.
- Previously: Hydrogen and self-driving cars the talk at the Toyota Motor Show (Oct. 29)
Thu, Oct. 15, 9:14 AM
- Terex (NYSE:TEX) -3.6% premarket after Manitowoc (NYSE:MTW) pre-announced lower than expected Q3 revenue following yesterday's close, pointing specifically to weakness in its cranes segment.
- MTW said its cranes segment continues to be hurt by a deteriorating demand environment, particularly in the Middle East and Asia, and lower than expected tower and crawler crane shipments exacerbated the Q3 shortfall in revenues.
- Other companies in the commercial equipment sector include Accuride (NYSE:ACW), Meritor (NYSE:MTOR), Deere (NYSE:DE) and Caterpillar (NYSE:CAT).
- MTW -14.4% premarket.
Tue, Sep. 22, 10:16 AM
- The automobile parts sector is down again to follow a rout of European automaker stocks earlier in the day led by the dismantling of shares of scandal-ridden Volkswagen.
- Losing business from Volkswagen is one concern, but a broader issue could be tighter emissions testing and compliance protocols in the industry.
- Decliners include Tenneco (TEN -7.5%), Delphi Automotive (DLPH -4.3%), Allison Transmission Holdings (ALSN -4%), Federal-Mogul Holdings (FDML -4.4%), Lear (LEA -3.3%), Meritor (MTOR -3.8%), Dana Holding (DAN -3.7%), Autoliv (ALV -3.4%), Modine Manufacturing (MOD -2.8%), Standard Motor Products (SMP -2.3%), Stoneridge (SRI -3.6%), American Axle & Manufacturing (AXL -2.5%), and Johnson Controls (JCI -2.3%).
- Previously: Volkswagen -35% in two-day drubbing after cheating scandal (Sep. 22 2015)
Mon, Sep. 21, 10:05 AM
- Major auto parts suppliers are trading lower after the world's largest automaker (by 1H sales) is accused of purposefully manufacturing cars with a defeat device to beat emissions testing.
- The long-term impact of the Volkswagen scandal is still being debated, but anxiety is higher after the development.
- Decliners include BorgWarner (BWA -2.4%), Tenneco (TEN -0.8%), Delphi Automotive (DLPH -1.1%), Autoliv (ALV -0.9%), Standard Motor Products (SMP -0.3%), Meritor (MTOR -0.3%), and Federal-Mogul Holdings (FDML -0.5%).
- Navistar (NAV -0.9%) and Fiat Chrysler Automobiles (FCAU -1.4%) are also noticeably lower than broad market averages.
- Previously: Volkswagen orders probe into EPA emissions violations (Sep. 20 2015)
- Previously: Volkswagen down 20% as diesel scandal reverberates (Sep. 21 2015)
Wed, Jul. 29, 9:11 AM
- Meritor (NYSE:MTOR) reports revenue rose 1% if the impact of the currency swings is backed out in FQ3
- Commercial Truck & Industrial sales fell 7% to $705M, driven by lower production in South America and China as well as unfavorable exchange rates.
- Aftermarket & Trailer sales dropped 8% to $233M.
- Segment EBITDA: Commercial Truck & Industrial: $58M (+5.45%); Aftermarket & Trailer: $31M (+10.71%).
- FY2015 Guidance: Revenue: $3.50B to $3.55B; Adjusted EBITDA margin: ~9.3%; Adjusted EPS from continuing operations: $1.40 to $1.50; Free cash flow: ~$110M; Capital expenditure: ~$80M; Interest expnese: $80M to $85M; Cash interest: $65M to $70M; Tax rate: ~15%.
Wed, Jul. 29, 8:13 AM
Tue, Jul. 28, 5:30 PM
- ACCO, ADT, AMED, AMT, ANTM, APO, AVY, BAH, BDC, BEN, BGCP, BOKF, CARB, CBG, CDK, CFR, CHH, CLF, CRI, DATA, DIN, DORM, DXYN, ESIO, ETN, EVER, EXC, FDML, FLY, GCI, GD, GEL, GIB, GRA, GRMN, GT, GTI, HCBK, HES, HLT, HSIC, HSP, HTA, HUM, HUN, IP, IRT, JAH, JLL, LFUS, LVLT, MA, MDCO, MO, MTH, MTOR, MVIS, NOC, PAG, PCG, PX, Q, RES, ROK, ROL, SAIA, SLAB, SNCR, SO, SONS, SPIL, SPR, SPW, SSE, STNG, STRA, STRZA, TGI, TRI, UBSI, UMC, VNTV, WEC, WEX, WILN, WOOF
Fri, Jul. 10, 9:04 AM| Fri, Jul. 10, 9:04 AM | Comment!
Mon, Jun. 8, 1:46 PM
- Moody's says it kept its corporate credit ratings on Meritor (MTOR -0.6%) level after factoring in a $225M add-on to a note issue due in 2024.
- The company is using the proceeds to repay a portion of another higher-interest note and buy an annuity to cover pension obligations.
- The outlook from Moody's on Meritor is stable.
Fri, May 29, 10:39 AM
- Automobile industry supplier stocks are tilting lower after WABCO and Modine Manufacturing issued guidance below the expectations of analysts.
- F/X pressure and some uncertainty in the markets in Brazil and China are weighing on the sector.
- Decliners: WABCO (NYSE:WBC) -2.9%, Modine Manufacturing (NYSE:MOD) -2.5%, Meritor (NYSE:MTOR) -2.4%, Motorcar Parts of America (NASDAQ:MPAA) -2.3%, Westport Innovations (NASDAQ:WPRT) -2.0%, Federal-Mogul (NASDAQ:FDML) -1.8%, Stoneridge (NYSE:SRI) -1.3%, Lydall (NYSE:LDL) -1.3%, Cooper-Standard Holdings (NYSE:CPS) -1.2%.
Wed, Apr. 29, 7:39 AM
Tue, Apr. 28, 5:30 PM
- ABB, ACCO, ADT, AME, AMED, ANTM, AVY, BC, BEN, BGCP, BOKF, CBG, CCJ, CFR, CRI, CVE, DHX, DX, DXYN, EDR, ETN, EVER, EXC, FCAU, FCH, FDML, FI, FUN, GD, GEL, GIB, GRMN, GRUB, GT, HCBK, HERO, HES, HLT, HOT, HUM, ICON, IDCC, IP, ISSI, LFUS, LINE, LL, LVLT, MA, MDLZ, MTOR, MWV, NEE, NOC, NSC, NYCB, OCR, PCG, PX, Q, RES, ROL, SAIA, SAVE, SLAB, SLGN, SNCR, SO, SPIL, SPR, SPW, TRI, TWX, UMC, VRX, WEX, WM, WOOF
Thu, Mar. 19, 12:47 PM
Wed, Jan. 28, 10:11 AM
- Meritor (NYSE:MTOR) reports Commercial Truck & Industrial sales fell 3.30% to $703M, driven by lower production in Europe, South America and defense as well as unfavorable exchange rates.
- Aftermarket & Trailer sales grew 2.97% to $208M, primarily due to slightly higher revenue in North America and pricing actions executed during fiscal year 2014.
- Segment EBITDA: Commercial Truck & Industrial: $56M (+9.80%); Aftermarket & Trailer: $25M (+19.05%).
- FY2015 Guidance: Revenue: ~$3.7B; Adjusted EBITDA margin: ~9.0%; Adjusted EPS from continuing operations: $1.20 to $1.30; Free cash flow: ~$100M; Capital expenditure: $80M to $90M; Interest expnese: $80M to $90M; Cash interest: $65M to $75M; Tax rate: ~20%.
- FQ1 results
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