Mon, Oct. 26, 12:45 PM
Mon, Oct. 26, 9:15 AM
Mon, Oct. 26, 9:04 AM
- Auto parts stocks (AZO, AAP, ORLY, PRTS, GPC) are on watch after Bridgestone (OTCPK:BRDCY) acquires Pep Boys (NYSE:PBY) for a healthy premium.
- Analysts have already been pushing the consolidation benefits of retail chains within the sector. The M&A move by Bridgestone will also be of interest to tire giants Cooper Tire & Rubber (NYSE:CTB) and Goodyear Tire & Rubber (NASDAQ:GT).
- Pep-Boys trades just short of the takeout price of $15, up 22.82% to $14.91.
- Previously: Bridgestone buying Pep Boys for $835M (Oct. 26 2015)
Mon, Oct. 26, 8:52 AM
- The all-cash deal works out to $15 per share for Pep Boys (NYSE:PBY), 23% above Friday's close of $12.15. It's also 62% higher than the stock price on May 9, when speculation about a purchase first began.
- The deal is expected to close early next year.
- Source: Press Release
- PBY +22.65% to $14.89 premarket.
Wed, Oct. 14, 9:12 AM
- Retail sales improved 2.4% Y/Y with some categories helping to offset the 20% drop in gasoline station sales.
- Clothing store sales improved 0.9% M/M and 4.7% Y/Y. Both marks were much higher than sales churned up from department stores.
- As expected, auto dealers and auto parts stores (ABG, AN, CPRT, GPI, KMX, LAD, PAG, AAP, AZO, ORLY, PBY) showed a brisk 9% Y/Y gain.
- Furniture and home furnishings store sales were also ahead of the broad retail sales growth numbers with gains of 0.6% M/M and 5.3% Y/Y.
- Previously: Retail sales missed consensus in September (Oct. 14 2015)
- Related ETFs: IYK, IYC, SCC, UCC, UGE, SZK
Tue, Sep. 8, 11:43 PM
Tue, Sep. 8, 4:31 PM
Mon, Sep. 7, 5:35 PM
Fri, Jul. 10, 3:32 PM
- Elio Motors has raised $16M in just 19 days from an online crowdsourcing campaign aimed at helping it manufacture a vehicle listing for $6.8K.
- The startup automaker is looking to raise a total of $25M through a new passage in the JOBS Act that also falls in line with SEC regulations.
- Plans have been laid out by Elio Motors to develop the two-seat, three-wheel vehicle with a fuel economy rating of 84 mpg. An early prototype is reported to have reached a top speed of 100 mph. The vehicle is technically defined as a motorcycle which makes it a potential rival of Harley-Davidson (NYSE:HOG) and the super-budget segment of the automobile sector. That is if the startup beats the odds to manufacture at scale.
- The company says it wants to emulate the direct sales model of Tesla Motors (NASDAQ:TSLA) and partner with Pep Boys (NYSE:PBY) for service. Pre-orders of over $290M have been received, according to Elio's website.
- Suppliers for the Elio model include Lear (NYSE:LEA), Cooper Tire & Rubber (NYSE:CTB), and Bosch - while production is planned for an old GM plant in Louisiana.
Tue, Jun. 30, 9:22 AM
Mon, Jun. 15, 10:38 AM
Thu, Jun. 11, 10:59 AM
Mon, Jun. 8, 4:34 PM
Sun, Jun. 7, 5:35 PM
Wed, May 20, 12:45 PM
Wed, May 20, 9:14 AM
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