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FCAU

Fiat Chrysler

$15.91

0.14 (0.89%)

10:52
01/10/19
01/10
10:52
01/10/19
10:52

California AG announces settlement with Fiat Chrysler valued at over $500M

California Attorney General Xavier Becerra and the California Air Resources Board, together with the United States Department of Justice, announced a joint settlement valued at more than $500M with Fiat Chrysler Automobiles N.V. and related companies. The settlement resolves allegations that the company violated environmental and consumer protection laws by using "defeat device software" to circumvent emissions testing. California will receive $78.4M as part of the settlement. Fiat Chrysler is accused of installing the defeat device software in 100,000 vehicles nationwide and 13,325 vehicles in California. The affected vehicles are 2014-2016 diesel Jeep Grand Cherokees and Dodge Ram 1500s. The extended warranty negotiated as part of the government settlement will cost Fiat Chrysler approximately $105M. It also requires Fiat Chrysler to establish a recall program offering consumers an approved emission modification with an extended warranty to bring the vehicles into emissions compliance. The settlement requires Fiat Chrysler to conduct ongoing testing of emissions compliance, durability, and the vehicles' diagnostics systems. The company must also enact corporate reforms and undergo ongoing independent compliance monitoring. Fiat Chrysler estimates that the cost of research and development for the approved emissions modification, installing the approved emissions modification, and implementing the federal mitigation program will be between $60M-$80M. Additionally, a related class action settlement filed today provides approximately $300M in consumer relief.

FCAU Fiat Chrysler
$15.91

0.14 (0.89%)

10/22/18
JEFF
10/22/18
NO CHANGE
Target $21
JEFF
Buy
Fiat Chrysler sale of Magneti could bring special dividend, says Jefferies
In a research note titled "Best-in-Class Value Creation Continues," Jefferies analyst Philippe Houchois says Fiat Chrysler's sale of Magneti Marelli to Calsonic Kansei for EUR 6.2B met the high end of market expectations. This could give rise to a special dividend of EUR $2B, Houchois tells investors in a research note. Further, the analyst believes the sale also "materially de-risks" Fiat's balance sheet ahead of planned reinvestment in emissions compliance. He keeps a Buy rating on the shares with a $21 price target.
10/26/18
HSBC
10/26/18
DOWNGRADE
HSBC
Hold
Fiat Chrysler downgraded to Hold from Buy at HSBC
10/29/18
SPHN
10/29/18
NO CHANGE
SPHN
Equal Weight
Stephens sees positive take-aways from Auto Finance Summit for Ally Financial
After having attended the Auto Finance Summit in Las Vegas last week, Stephens analyst Vincent Caintic said he is a bit more positive in the near-term on Ally Financial (ALLY), citing the combination of their "timely pivot" to used cars combined with strong dealer relationships that he sees helping them take market share. The analyst added that he thinks America's Car-Mart (CRMT) should benefit, like Ally, from the affordability issue facing consumers. He also believes Santander Consumer (SC) should get bought by Fiat Chrysler (FCAU), but Caintic noted that he heard various opinions at the industry event on the merits of Santander versus another subprime lender. Caintic has Equal Weight ratings on Ally, America's Car-Mart and Santander Consumer.
11/05/18
SOCG
11/05/18
UPGRADE
SOCG
Buy
Fiat Chrysler upgraded to Buy from Hold at Societe Generale

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ITRI

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MOGU

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BSRR

Sierra Bancorp

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LXRX

Lexicon

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-1.73 (-22.50%)

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ATTO

Atento

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EBAY

eBay

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ARNC

Arconic

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CNDT

Conduent

$12.21

0.19 (1.58%)

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HSC

Harsco

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EBAY

eBay

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VYST

Vystar Corp

$0.00

(0.00%)

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Vystar Corp begins soft launch of Cloud Bed-in-a-Box collection via Rotmans »

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ARNC

Arconic

$20.35

0.17 (0.84%)

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EBAY

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RNWK

RealNetworks

$2.99

(0.00%)

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RealNetworks doubles stake in Rhapsody International, owns 84% of Napster »

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MDRX

Allscripts

$12.20

0.525 (4.50%)

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PLD

Prologis

$64.75

0.7 (1.09%)

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RDFN

Redfin

$18.49

0.48 (2.67%)

08:02
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PLD

Prologis

$64.75

0.7 (1.09%)

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IGT

International Game

$15.26

0.54 (3.67%)

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MGNX

MacroGenics

$12.31

-0.2 (-1.60%)

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FDC

First Data

$22.94

0.99 (4.51%)

07:57
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First Data rating change  »

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    Mar

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