Fri, Aug. 7, 4:53 PM
- Ford (NYSE:F) has hired Tower International (NYSE:TOWR) as a second supplier to provide steel frames for its best-selling F-150 truck, hoping to better meet delivery demands amid a parts shortage from its current supplier, WSJ reports.
- Ford is struggling to get as many F-150s on dealer lots as originally planned because its supplier, Mexico-based Metalsa, is having trouble building enough frames to keep pace with production needs, according to the report.
- Meanwhile, Ford is said to be shipping frames to its factories by truck rather than rail to get them there faster but at a higher cost.
Thu, Jul. 30, 7:07 AM
Mon, Jun. 29, 10:38 AM
- Select auto supplier stocks are feeling the sharpest pinch in the consumer goods sector from the developments in Greece.
- Westport Innovations (WPRT -4.6%), Delphi Automotive (DLPH -3.3%), and Tower International (TOWR -1.8%) are all trading weaker than broad averages.
- Goodyear Tire & Rubber (GT -3.4%) and Cooper Tire & Rubber (CTB -1.8%) are also feeling pressure.
Wed, Jun. 10, 11:03 AM
- A good part of the automobile supplier sector is ahead of broad market averages with M&A buzz in the background.
- Though Fiat Chrysler Automobiles CEO Sergio Marchionne has been making quite a bit of noise on the need for major automakers to consolidate, analysts think it's the suppliers with the most to gain from strategic mergers with next-gen vehicles going in different directions.
- Gainers: Lear (NYSE:LEA) +2.0%, Motorcar Parts of America (NASDAQ:MPAA), Cooper-Standard (NYSE:CPS) +2.4%, Strattec Security (NASDAQ:STRT) +1.4%, Gentherm (NASDAQ:THRM) +3.0%, Magna International (NYSE:MGA) +1.7%, American Axle & Manufacturing (NYSE:AXL) +1.5%, Tower International (NYSE:TOWR) +1.5%, Standard Motor Products (NYSE:SMP) +2.2%.
- Previously: Lennox International higher on report of Johnson Controls interest (Jun. 10 2015)
- Previously: Johnson Controls +6% after announcing strategic review (Jun. 10 2015)
Thu, May 7, 10:19 AM
- Tower International (TOWR +9.2%) rallies after blasting past Q1 profit estimates.
- Organic sales were up 4% during the quarter.
- Tower tightened up on SG&A expenses to help achieve the EPS beat.
- The company lowered its full-year revenue guidance by $50M to $1.95B to reflect new foreign currency expectations.
- Previously: Tower beats by $0.21, misses on revenue
Thu, May 7, 7:50 AM
Fri, Apr. 10, 5:36 PM
Thu, Feb. 12, 7:51 AM
Dec. 19, 2014, 5:58 PM
- Consumer spending in several areas is likely to benefit from lower pump prices, but J.P. Morgan's Ryan Brinkman thinks the auto industry may benefit more than most from consumers having more money to spend on all things apart from fuel.
- The analyst sees Goodyear Tire (NASDAQ:GT), American Axle (NYSE:AXL), GM and Ford (NYSE:F) - in that order - as best positioned to benefit, followed by suppliers with material exposure to full-size trucks and SUVs that is not as great as AXL, including Tenneco (NYSE:TEN), Lear (NYSE:LEA) and Tower International (NYSE:TOWR).
- Tesla (NASDAQ:TSLA) is an exception, however, as Brinkman sees a potential reduction in the terminal value of cash flows on his reduced outlook for Model 3 vehicles if fuel prices remain low longer-term.
Oct. 30, 2014, 8:06 AM
Oct. 17, 2014, 5:40 PM
Jul. 31, 2014, 8:33 AM
Feb. 13, 2014, 7:14 AM
Nov. 1, 2013, 9:13 AM
Oct. 30, 2013, 8:36 AM
Jul. 22, 2013, 12:45 PM
TOWR vs. ETF Alternatives
Tower International Inc is a manufacturer of engineered automotive structural metal components and assemblies. It offers body-structure stampings, frame and other chassis structures, and complex welded assemblies for small and large cars.
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