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
Tue, May 19, 7:09 PM
- Pep Boys (NYSE:PBY) has leapt 20% in late trading as Golden Gate and other firms are reported to have approached the auto-parts retailer regarding a takeover, Dow Jones says.
- The after-hours price of $11.10 is the highest point the stock has reached since September.
- Updated: Pep Boys isn't working with an investment bank and isn't negotiating currently, the WSJ reports. It's also not clear the company wants to sell. A 2012 takeover attempt by Gores Group collapsed after Pep Boys logged poor results.
Mon, Apr. 13, 5:10 PM
- Pep Boys (NYSE:PBY) reports comparable-store sales rose 1.3% in Q4.
- Service revenue provided most of the comp lift with a 5.1% gain.
- The company says investments in tire, digital, commercial/fleet cut into margins during quarter, although the margin rate is recovering in Q1.
- Previously: Pep Boys Manny Moe & Jack EPS of -$0.50
- PEP -0.9% after hours.
Mon, Apr. 13, 4:34 PM
Sun, Apr. 12, 5:35 PM
Dec. 11, 2014, 9:30 AM
- Retail sales struck their biggest gain since March on broad strength.
- What's working: Strong growth was seen in auto parts (PBY, ORLY, AZO, AAP, MNRO) with the broad parts category showing year-over-year sale growth of over 8% in November. Sales were up 6.8% Y/Y for health and personal care stores (ULTA, SBH, CVS, WAG, RAD) during the month.
- What's not working: Department stores (DDS, M, SSI, BONT, SHLD, JCP, KSS, JWN) went backwards with sales off 1.1% from a year ago. No surprise, but sales at gas stations (CASY, KR, PTRY) also fell off from a year ago.
- Retail ETFs: XLY, XRT, VCR, RTH, RETL, IYK, FXD, IYC, FDIS, SCC, UCC, PMR, UGE, RCD, SZK.
Dec. 9, 2014, 11:16 AM
- A strong report from AutoZone on Q3 earnings is giving the auto parts sector a lift.
- Cold weather and lower gas prices are a good mix for the sector.
- Advance Auto Parts (AAP +0.9%), O'Reilly Automotive (ORLY +1.8%), and Monro Muffler Brake (MNRO +0.5%) are all outperforming market averages.
- Pep Boys (PBY -8.7%) is sitting out the rally after missing profit estimates with its Q3 report.
Dec. 8, 2014, 5:41 PM
Dec. 8, 2014, 4:39 PM
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