Sep. 17, 2013, 10:24 AM
- Electric car-charging company ECOtality (ECTY) has filed for bankruptcy protection, sending its shares plummeting 28.4%.
- Nissan (NSANY.OB) has agreed to provide a term loan of up to $1.25M at interest of 5% a year.
- ECOtality plans to use the money to operate until its assets have been sold in a bankruptcy auction.
- The Chapter 11 filing comes after ECOtality defaulted on a 2015 convertible loan.
- The bankruptcy is likely to stoke controversy given that ECOtality has received $96M of a $115M stimulus grant. (8-K)
Jan. 2, 2013, 8:12 AMMolycorp (MCP) +7.3% premarket, as the company’s low valuation and the chance to lock in rare-earth resources could make it a potential takeover target, Bloomberg reports. Analysts say manufacturers from Nissan (NSANY.OB) to Siemens (SI) could be interested, and shares could fetch $15 in a takeover. | 1 Comment
Sep. 19, 2012, 2:30 PMIn the zero-sum game of auto sales, General Motors (GM +1.5%) and German automakers such as BMW (BAMXY.PK) and Volkswagen (VLKAY.PK) could benefit from the wave of anti-Japan protests across China, while Honda (HMC +1.9%), Toyota (TM +1.0%), and Nissan (NSANY.OB) suffer a loss of market share. The trio of Japanese automakers already reported attacks on dealerships and have cut production in the region. | 2 Comments
Dec. 19, 2011, 10:06 AMNissan (NSANY.PK) recalls 34K Sentra compact cars due to battery cable problems that could lead to a stalled engine, as well as 28K Juke crossover SUVs due to an unrelated turbocharger bracket problem. Shares bucked a downward trend in Asia, gaining 2.1% in Tokyo trading after the carmaker announced it will turn an engine and transmission subsidiary into a fully owned unit. | Comment!
May. 3, 2011, 1:24 PM
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