Today, 6:53 AM
Thu, Jul. 30, 9:07 AM
- BorgWarner (NYSE:BWA) says slower light vehicle demand in China and a softer-than-expected global commercial market impacted sales in Q2.
- The company resets 2015 sales guidance to a range of -5.5% to -2.5% vs. -4% to 0% prior. 2015 EPS guidance is dropped to $2.95-$3.10 vs. $3.10-$3.20 prior and $3.21 consensus.
- Previously: BorgWarner misses by $0.08, misses on revenue (Jul. 30 2015)
Thu, Jul. 30, 8:10 AM
Wed, Jul. 29, 5:30 PM
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Wed, Jul. 29, 4:59 PM
Thu, Jul. 16, 7:25 PM
- General Motors (NYSE:GM) fell 2.6% in today's trade following a downgrade from Barclays on the U.S. auto and auto parts sector, saying an extended Chinese slowdown limits upside for vehicle-related stocks.
- Analyst Brian Johnson cuts the sector to Negative from Neutral while downgrading GM, BorgWarner (NYSE:BWA), Delphi Automotive (NYSE:DLPH) and Lear (NYSE:LEA) to Equal Weight from Overweight, expecting recent underperformance to continue as China car sales continue to disappoint and Chinese production turns negative.
- With few catalysts on the horizon, GM is unlikely to enjoy meaningful upside at least the end of the year, Johnson says, adding that GM likely will experience the most severe China headwinds among companies covered by the firm, making an inexpensive valuation and strong dividend "largely irrelevant."
- Johnson says upside potential for BWA and DLPH is limited, as China represents 30%-40% of backlogs for the companies.
Mon, Jul. 13, 9:53 AM
- Remy International (NASDAQ:REMY) popped 42.3% to reach $29.23 in opening trades.
- The stock is just slightly below where BorgWarner (BWA +0.4%) agreed to buy the company earlier today.
- RBC Capital thinks the strategic acquisition will help BorgWarner keep an edge in hybrid technology.
- Previously: BorgWarner acquires Remy International (Jul. 13 2015)
Mon, Jul. 13, 8:07 AM
Tue, May 12, 8:27 AM
Thu, Apr. 30, 8:25 AM
- BorgWarner (NYSE:BWA) had a tough time getting out of the way of F/X swings in Q1 due to the global nature of its business.
- Revenue was decreased by 11% and EPS by $0.09 due to foreign currencies.
- Guidance: The company lowers its outlook on sales growth to -4% to 0% from +2% to +6%. The view on EPS is lowered to $3.10-$3.30 vs. $3.35-$3.55 prior and $3.43 consensus.
- Previously: BorgWarner misses by $0.06, misses on revenue
Thu, Apr. 30, 8:15 AM
Wed, Apr. 29, 5:30 PM
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Wed, Apr. 29, 4:58 PM
Fri, Apr. 3, 8:57 AM
- Toyota (NYSE:TM) is set to spend $1.25B on new plants in China and Mexico, sources tell the Wall Street Journal.
- The plants would be the first new production facilities for the Japanese automaker since 2012 after it shifted to a more conservative stance.
- Additional capacity from the new Toyota plants could total several hundred thousand vehicles per year to start and tip off a new philosophy.
- Toyota is expected to keep producing vehicles at a +10M unit annual pace for the next few years even before any new plants come online.
- Denso Corp. (OTCPK:DNZOF, OTCPK:DNZOY) and Toyota Boshuku (OTC:TDBOF, OTCPK:TDBOY) are major suppliers to Toyota and could see a lift from the boost in capacity. Both firms are backed by Toyota Group.
- Other suppliers to Toyota include Tenneco (NYSE:TEN), Dana Holdings (NYSE:DAN), Magna International (NYSE:MGA), and BorgWarner (NYSE:BWA) to name just a few.
Thu, Mar. 12, 8:08 AM
Mon, Mar. 2, 1:57 PM
- There's a broad rally in auto parts stocks underway after a strong read on sales in some key European markets.
- Sales in Spain rose 26% Y/Y in February, while sales improved 7% in Germany and 4.1% in France.
- February U.S. sales are due to be reported tomorrow by manufacturers.
- Gainers: Federal-Mogul (NASDAQ:FDML)+4.1%, Westport Innovations (NASDAQ:WPRT) +2.6%, Modine Manufacturing (NYSE:MOD) +2.6%, Dana Holding (NYSE:DAN) +2.5%, Visteon (NYSE:VC) +2.4%, BorgWarner (NYSE:BWA) +2.4%, Lear (NYSE:LEA) +2.4%, Lydall (NYSE:LDL) +2.2%, Johnson Controls (NYSE:JCI) +2.2%, Delphi Automotive (NYSE:DLPH) +2.0%.
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