Thu, Oct. 1, 3:39 PM
- U.S. auto sales sizzled in September as the combination of low gas prices and subdued auto loan rates motivated consumers to make a move. The monthly tally was influence a bit by an extra selling day and a comparison to last year when part of the Labor Day weekend was in August.
- The Detroit Three led the way with strong sales volume and solid pricing in a development that takes some of the sting off the Volkswagen scandal which rocked the sector.
- The industry-wide run rate for the month is estimated to be 18.7M annual sale to match the highest level of activity since 2005.
- Fiat Chrysler Automobiles (FCAU +1.9%) is the only major automaker putting in a strong gain on the day, although most automaker stocks are ahead of the DJIA.
- A large number of auto parts stocks are also beating market averages on enthusiasm over the strong numbers. Lydall (NYSE:LDL), Delphi Automotive (NYSE:DLPH), Modine Manufacturing (NYSE:MOD), and Tenneco (NYSE:TEN) are leading the mini-charge.
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)
Mon, Sep. 21, 10:05 AM
- Major auto parts suppliers are trading lower after the world's largest automaker (by 1H sales) is accused of purposefully manufacturing cars with a defeat device to beat emissions testing.
- The long-term impact of the Volkswagen scandal is still being debated, but anxiety is higher after the development.
- Decliners include BorgWarner (BWA -2.4%), Tenneco (TEN -0.8%), Delphi Automotive (DLPH -1.1%), Autoliv (ALV -0.9%), Standard Motor Products (SMP -0.3%), Meritor (MTOR -0.3%), and Federal-Mogul Holdings (FDML -0.5%).
- Navistar (NAV -0.9%) and Fiat Chrysler Automobiles (FCAU -1.4%) are also noticeably lower than broad market averages.
- Previously: Volkswagen orders probe into EPA emissions violations (Sep. 20 2015)
- Previously: Volkswagen down 20% as diesel scandal reverberates (Sep. 21 2015)
Wed, Aug. 12, 7:37 PM
- Goldman Sachs thinks a China pullback is already priced into many auto stocks, apparently factoring a 40% decline in revenue outside of North America vs. the its outlook for a 2% drop; as a result, the firm upgrades Johnson Controls (NYSE:JCI) and Tenneco (NYSE:TEN).
- JCI is raised to Buy from Neutral with a $60 price target, as Goldman thinks the company should see positive share movement from incremental backlog and orders in its building efficiency business and a potential boost from the recently announced automotive business spinoff.
- TEN is lifted to Neutral from Sell with a $60 target, as Goldman expects a long-term benefit from increased penetration of gasoline direct injection which requires gasoline particulate filters, an area where TEN can leverage its diesel particulate filter expertise.
Fri, Jul. 24, 7:43 AM
Thu, Jul. 23, 5:30 PM
Wed, Jul. 22, 10:07 AM| Wed, Jul. 22, 10:07 AM | Comment!
Thu, Jul. 9, 10:22 AM
Mon, Apr. 27, 8:22 AM
- Tenneco (NYSE:TEN) reports revenue rose 4% if the impact of currency swings is backed out.
- Clean Air division revenue fell 2.70% to $1.405B (+5% after excluding the currency impact).
- Ride Performance division decreased 4.92% to $618M (+5% after excluding the currency impact).
- Adjusted EBIT increased 30 bps to 6.2%.
- Q2 Guidance: Revenue: ~+5% (excluding currency impact).
- FY2015 Guidance: Revenue: +5% to +8% (excluding currency impact).
Mon, Apr. 27, 8:02 AM
Sun, Apr. 26, 5:30 PM
Wed, Apr. 15, 6:50 AM
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.
Tue, Mar. 31, 7:03 AM
- Tenneco (NYSE:TEN) announces it developed a gasoline particulate filter for the use in 2017 European GDI-powered vehicles.
- The technology is designed to help manufacturers comply with Euro 6c emission regulations which go into place on September 1, 2017.
- The company says its filters will control particulate emissions in all operating conditions.
Mon, Feb. 2, 12:19 PM
- A number of auto parts stocks are in rally mode today.
- A positive forecast on global demand from IHS could be boosting sentiment.
- The research firm projects global sales will improve 2.4% to 88.6M units - a mark that is dragged down by the collapse of the Russian auto industry.
- Some analysts think the sector is setting up to see a delayed demand reaction this year as drivers add more miles than anticipated to their cars with gas prices lower.
- Easy sales comparisons are also looming in the second half for many companies/
- Advancers: Tenneco (TEN +4.7%), Federal-Mogul Holdings (FDML +2.8%), Modina Manufacturing (MOD +3.4%), Superior Industries (SUP +3.3%), BorgWarner (BWA +1.7%), Cooper-Standard Holdings (CPS +1.1%), Delphi Automotive (DLPH +1.9%), Dana Holding (DAN +1.7%), Autolive (ALV +1.6%), Lear (LEA +1.5%).
Mon, Feb. 2, 7:46 AM
TEN vs. ETF Alternatives
Tenneco Inc produces clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications.It serves original equipment vehicle manufacturers and repair and replacement markets or aftermarket.
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