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)
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%.
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%.
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
Nov. 12, 2014, 10:29 AM
Nov. 12, 2014, 9:18 AM
Nov. 5, 2014, 9:59 AM
- Auto supplier stocks outpace broad market averages in early action after Toyota issues a strong outlook for the fiscal year and Fiat Chrysler Automobiles keeps an aggressive stance on global production goals.
- Also factoring in are the reports this week on U.S. auto sales which showed strong demand for SUVs and trucks.
- Gainers: WABCO (NYSE:WBC) +3.0%, Meritor (NYSE:MTOR) +2.5%, Dana Holding (NYSE:DAN) +2.4%, Tenneco (NYSE:TEN) +2.1%, Monro Muffler Brake (NASDAQ:MNRO) +1.5%, Cooper-Standard Holdings (NYSE:CPS) +1.3%.
Jun. 23, 2014, 12:46 PM
Jun. 23, 2014, 9:21 AM| Jun. 23, 2014, 9:21 AM | 1 Comment
Jun. 23, 2014, 9:15 AM
May 12, 2014, 10:38 AM
- Auto parts stocks are ripping gains to begin the week.
- A positive read on global demand from Volkswagen, General Motors, and Tata Motors could be helping to tip sentiment in favor of the group.
- Advancers: Meritor (MTOR) +4.2%, Federal-Mogul (FDML) +3.8%, Standard Motor Products (SMP) +3.6%, Modine Manufacturing (MOD) +3.2%, American Axle & Manufacturing (AXL) +3.0%.
May 1, 2014, 12:48 PM
Dec. 23, 2013, 5:35 PM
Dec. 23, 2013, 9:10 AM
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