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BWA

BorgWarner

$35.18

0.88 (2.57%)

08:33
10/03/16
10/03
08:33
10/03/16
08:33

BorgWarner to sell REMY light vehicle aftermarket business to Torque Capital

BorgWarner has agreed to sell its REMY light vehicle aftermarket business to an investor group led by Torque Capital Group. The sale includes manufacturing facilities in San Luis Potosi, Mexico; Piedras Negras, Mexico; Twinsburg, Ohio; Edmond, Oklahoma; Brussels, Belgium; Jemmal, Tunisia; and Miskolc, Hungary. The business employs a total of approximately 3,000 people. The purchase price of the transaction is approximately $80M, subject to customary adjustment. Completion of the transaction is expected in the fourth quarter, subject to the satisfaction of customary closing conditions. Sales of this light vehicle aftermarket business through the first six months of 2016 were approximately $142M. BorgWarner will retain the core rotating electric business of the former REMY International, Inc. to complement its focus on hybrid and electric vehicle propulsion systems. This transaction does not include other BorgWarner products or technologies including the DELCO REMY commercial vehicle products. As a result of the transaction, including the write-off of excess purchase price allocation related to the 2015 acquisition of the former REMY International, BorgWarner estimates that it will incur a 2016 pre-tax loss of approximately $95M-125M, subject to final closing adjustments.

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BWA BorgWarner
$35.18

0.88 (2.57%)

04/27/16
WELS
04/27/16
NO CHANGE
WELS
Auto Suppliers sector downgraded to Underweight at Wells Fargo
Wells Fargo analyst Richard Kwas downgraded the Auto Suppliers sector to Underweight from Market Weight saying the recent rally in the stocks is likely to be short-lived. The analyst believes U.S. auto sales need to stay at a high level for the remainder of the year for production schedules to stay intact. As such, he thinks a production cut is more "when" than "if". Auto Supplier stocks are tougher to own until a North American production cut actually occurs, Kwas tells investors in a research note. The analyst coupled the sector rating change with a downgrade of Tenneco (TEN) to Market Perform from Outperform. He keeps Outperform ratings on BorgWarner (BWA), Delphi (DLPH), Gentex (GNTX), Harman (HAR), Mobileye (MBLY) and Tower International (TOWR).
06/21/16
BOFA
06/21/16
DOWNGRADE
Target $39
BOFA
Neutral
BorgWarner downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analysts led by John Murphy lowered their U.S. vehicle sales and North American production forecasts given a somewhat slower than expected sales pace so far this year. The firm lowered its 2016 U.S. sales estimate to 17.7M from 18.2M units and its peak estimate to 18M units from 20M units in 2018. As a result, Murphy downgraded BorgWarner to Neutral from Buy given the later stages of the U.S. cycle and elevated long-term risk hybrid and electric vehicles penetrate the market faster than anticipated. The analyst lowered his price target to $39 from $45 on BorgWarner shares.
08/09/16
GHSC
08/09/16
INITIATION
GHSC
Neutral
BorgWarner initiated with a Neutral at Seaport Global
09/08/16
GSCO
09/08/16
NO CHANGE
GSCO
Goldman's Focus List changes
Goldman added Acuity Brands (AYI) & Facebook (FB) to the Focus List and removed Biogen (BIIB), BorgWarner (BWA), Monsanto (MON), and Grainger (GWW). The bank commented Acuity is a beneficiary of the Low Carbon Economy and said Facebook ranks as a low asset-light tech disruptor that is able to leverage its world-leading user base and mobile users to monetize long-term growth.

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WLFC

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AR

Antero Resources

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T

AT&T

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0.06 (0.16%)

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TWX

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VIAB

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CELG

Celgene

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VALU

Value Line

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VALU

Value Line

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ZEAL

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GNMSF

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HII

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BAESY

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WTFC

Wintrust Financial

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TWTR

Twitter

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ITEK

Inotek Pharmaceuticals

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OIS

Oil States

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AVGO

Broadcom

$266.39

-3.41 (-1.26%)

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Qualcomm

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TRNC

tronc

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0.3 (1.56%)

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AP

Ampco-Pittsburgh

$14.20

0.15 (1.07%)

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CG

Carlyle Group

$24.35

-0.05 (-0.20%)

, UBSH

Union Bankshares

$38.79

0.54 (1.41%)

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ANDX

Andeavor Logistics

$52.52

0.12 (0.23%)

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