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VLKAY

Volkswagen

$0.00

(0.00%)

10:57
01/14/19
01/14
10:57
01/14/19
10:57

Volkswagen picks Chattanooga for U.S. electric vehicle production

Volkswagen AG announced that Chattanooga, Tenn. will be the company's North American base for manufacturing electric vehicles. Strengthening the company's commitment to an electric mobility future, this expansion of Volkswagen's U.S. footprint will include an investment of $800M into the Chattanooga facility and create 1,000 jobs at the plant, plus additional jobs at suppliers. EV production at the site will begin in 2022. Chattanooga will be the first dedicated location in North America for production of a vehicle using Volkswagen's modular electric toolkit chassis, or MEB. In addition to Chattanooga, Volkswagen is building the first dedicated EV production facility in Zwickau, Germany, starting MEB production by the end of 2019. Volkswagen will also add EV-production at facilities in Anting and Foshan, in China, in 2020, and in the German cities of Emden and Hanover by 2022. Volkswagen currently builds the midsize Atlas SUV and the Passat sedan at the Chattanooga factory, which opened in 2011. A five-seat version of the Atlas, the Atlas Cross Sport, will begin production in Chattanooga later this year. Globally, Volkswagen Group plans to commit almost $50B through 2023 toward the development and production of electric vehicles and digital services.

  • 15

    Jan

VLKAY Volkswagen
$0.00

(0.00%)

06/15/18
JEFF
06/15/18
NO CHANGE
Target $53
JEFF
Buy
As VW appointment drives Navistar speculation, Jefferies sees eventual buyout
Noting that Navistar (NAV) shares are rising amid broader market weakness today following a Reuters report that Volkswagen (VLKAY) has appointed a new CFO noted to be an M&A expert, Jefferies analyst Stephen Volkmann said he continues to believe Volkswagen will pursue full ownership of Navistar, although he calls the timing of such an event "highly uncertain." He maintains a Buy rating and "Street high" price target of $53 on Navistar shares.
09/19/18
VERF
09/19/18
NO CHANGE
VERF
Sell
E-tron may not be 'Tesla killer,' but still a 'real risk,' says Vertical Group
After attending Audi's (AUDVF) launch event for its e-tron SUV, Vertical Group analyst Gordon Johnson said he sees Audi's foray in the EV space as "a real risk" to Tesla (TSLA) and other EV auto makers including Chevy (GM) and Ford (F). The Electrify America charging network, owned by a JV of Audi parent Volkswagen (VLKAY) and funded by "Dieselgate," positions Audi's fast-charging ambitions among the most robust, if not the most robust, in the U.S. currently, added Johnson. He does not see Audi's forthcoming e-tron as a "TSLA Killer," but does not "see it a stretch to think of it as a potential TSLA Model X killer," he concludes in his note to investors. Johnson keeps a Sell rating on Tesla shares.
11/27/18
MSCO
11/27/18
NO CHANGE
MSCO
Equal Weight
Ford's biggest challenges must be confronted alone, says Morgan Stanley
Morgan Stanley analyst Adam Jonas said Ford (F) shares have been moving on hopes of significant cooperation with Volkswagen (VLKAY) following the signing of an MOU between the two automakers last June. While he believes VW and Ford have some "extremely complementary areas of weakness and strength" and he sees scope for a VW collaboration to save Ford $2B-$4B annually or more, Jonas also contends that Ford's "biggest challenges must be confronted alone." He added that a full merger or "grand alliance" is a long shot and Jonas does not expect a significant flow of capital from Ford to VW or vice versa at this stage. He maintains an Equal Weight rating on Ford shares, stating that General Motors' (GM) restructuring announcement will focus investor attention on Ford's next steps.
12/04/18
JEFF
12/04/18
NO CHANGE
Target $53
JEFF
Buy
Navistar defense unit sale removes takeover hurdle, says Jefferies
Jefferies analyst Stephen Volkmann believes the sale of Navistar International's (NAV) defense business to Cerberus "clears a potential hurdle" for the truck business to be sold to foreign entity Traton. The analyst says he's long noted his expectation that Navistar will ultimately be sold to Traton, the Volkswagen (VLKAY) Truck & Bus businesses that is on track for initial public offering in Q1 of 2019. Given that foreign acquisitions of U.S. defense businesses are "inherently problematic," Volkmann views yesterday's unit sale as "removing an important potential hurdle." He keeps a Buy rating on Navistar with a $53 price target.

TODAY'S FREE FLY STORIES

CYTK

Cytokinetics

$6.83

-0.19 (-2.71%)

07:43
01/22/19
01/22
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01/22/19
07:43
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Cytokinetics announces FDA feedback for potential reldesemtiv program »

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FDC

First Data

$22.94

0.99 (4.51%)

, FISV

Fiserv

$77.83

3.23 (4.33%)

07:42
01/22/19
01/22
07:42
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07:42
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First Data, Fiserv rating change  »

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FDC

First Data

$22.94

0.99 (4.51%)

FISV

Fiserv

$77.83

3.23 (4.33%)

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  • 03

    Mar

SAIC

SAIC

$66.03

0.38 (0.58%)

07:42
01/22/19
01/22
07:42
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07:42
Conference/Events
SAIC management to meet with Seaport Global »

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PSEC

Prospect Capital

$6.74

0.04 (0.60%)

07:41
01/22/19
01/22
07:41
01/22/19
07:41
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Prospect Capital rating change  »

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GLOG

GasLog

$18.21

0.7 (4.00%)

07:40
01/22/19
01/22
07:40
01/22/19
07:40
Downgrade
GasLog rating change  »

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    Feb

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OFG

OFG Bancorp

$18.14

0.19 (1.06%)

07:40
01/22/19
01/22
07:40
01/22/19
07:40
Earnings
OFG Bancorp reports Q4 EPS 45c, consensus 42c »

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  • 22

    Jan

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    Feb

07:40
01/22/19
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07:40
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07:40
General news
Treasury Market Outlook: Treasury yields are lower in risk-off trades »

Treasury Market Outlook:…

TPC

Tutor Perini

$18.33

0.5 (2.80%)

07:39
01/22/19
01/22
07:39
01/22/19
07:39
Downgrade
Tutor Perini rating change  »

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TBIO

Translate Bio

$5.53

-0.12 (-2.12%)

07:38
01/22/19
01/22
07:38
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07:38
Hot Stocks
Translate Bio announces clinical hold on MRT5201 IND application from FDA »

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INSY

Insys Therapeutics

$4.42

-0.25 (-5.35%)

07:37
01/22/19
01/22
07:37
01/22/19
07:37
Initiation
Insys Therapeutics initiated  »

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RCM

R1 RCM

$8.32

0.16 (1.96%)

07:37
01/22/19
01/22
07:37
01/22/19
07:37
Initiation
R1 RCM initiated  »

R1 RCM initiated with an…

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INTC

Intel

$49.23

0.76 (1.57%)

07:36
01/22/19
01/22
07:36
01/22/19
07:36
Recommendations
Intel analyst commentary  »

Intel Q4 results should…

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  • 22

    Jan

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  • 26

    Mar

ONCS

OncoSec

$0.71

0.0134 (1.93%)

07:35
01/22/19
01/22
07:35
01/22/19
07:35
Conference/Events
OncoSec management to meet with Maxim »

Meeting to be held in New…

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  • 23

    Jan

D

Dominion

$68.75

-0.15 (-0.22%)

07:35
01/22/19
01/22
07:35
01/22/19
07:35
Downgrade
Dominion rating change  »

JPMorgan downgrades…

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  • 01

    Feb

  • 10

    Feb

UBSH

Union Bankshares

$32.50

0.14 (0.43%)

07:35
01/22/19
01/22
07:35
01/22/19
07:35
Earnings
Union Bankshares reports Q4 ex-items EPS 70c, consensus 68c »

Q4 net charge-offs were…

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  • 22

    Jan

  • 11

    Feb

JD

JD.com

$23.25

1.12 (5.06%)

, INTC

Intel

$49.23

0.76 (1.57%)

07:35
01/22/19
01/22
07:35
01/22/19
07:35
Options
Unusual call flow in option market yesterday »

Notable call activity was…

JD

JD.com

$23.25

1.12 (5.06%)

INTC

Intel

$49.23

0.76 (1.57%)

WYNN

Wynn Resorts

$115.19

0.94 (0.82%)

NKE

Nike

$80.45

1.33 (1.68%)

CRON

Cronos Group

$14.89

1.25 (9.16%)

MGM

MGM Resorts

$28.55

0.83 (2.99%)

AUY

Yamana Gold

$2.31

-0.12 (-4.94%)

UAA

Under Armour

$20.50

0.47 (2.35%)

I

Intelsat

$21.15

-1.26 (-5.62%)

APC

Anadarko

$48.68

0.61 (1.27%)

03/08/13
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  • 22

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  • 25

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  • 26

    Mar

INCY

Incyte

$78.44

-0.22 (-0.28%)

07:34
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01/22
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07:34
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Incyte treats first patient in Phase 3 clinical trial of itacitinib »

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  • 24

    Feb

AMBR

Amber Road

$8.45

0.19 (2.30%)

07:34
01/22/19
01/22
07:34
01/22/19
07:34
Hot Stocks
Amber Road confirms receipt of director nominations from Altai Capital »

Amber Road confirmed that…

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  • 22

    Jan

  • 23

    Jan

  • 11

    Feb

CORV

Correvio

$3.24

0.365 (12.70%)

07:34
01/22/19
01/22
07:34
01/22/19
07:34
Recommendations
Correvio analyst commentary  »

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OBSV

ObsEva

$13.72

0.22 (1.63%)

07:33
01/22/19
01/22
07:33
01/22/19
07:33
Conference/Events
ObsEva management to meet with Leerink »

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  • 23

    Jan

  • 24

    Jan

TGP

Teekay LNG

$12.80

0.23 (1.83%)

07:33
01/22/19
01/22
07:33
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07:33
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Teekay LNG rating change  »

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CABO

Cable One

$850.40

8.96 (1.06%)

07:32
01/22/19
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07:32
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Cable One rating change  »

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BRDCY

Bridgestone

$0.00

(0.00%)

07:32
01/22/19
01/22
07:32
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07:32
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Bridgestone rating change  »

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NVCN

Neovasc

$0.75

0.0001 (0.01%)

, EW

Edwards Lifesciences

$168.41

9.29 (5.84%)

07:31
01/22/19
01/22
07:31
01/22/19
07:31
Hot Stocks
Neovasc announces dismissal of claim brought by Edwards Lifesciences »

Neovasc (NVCN) announced…

NVCN

Neovasc

$0.75

0.0001 (0.01%)

EW

Edwards Lifesciences

$168.41

9.29 (5.84%)

03/08/13
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  • 27

    Jan

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    Jan

STT

State Street

07:30
01/22/19
01/22
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07:30
Downgrade
State Street rating change  »

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