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F

Ford

$10.18

0.07 (0.69%)

, VWAGY

Volkswagen

$0.00

(0.00%)

08:16
07/12/19
07/12
08:16
07/12/19
08:16

Ford, Volkswagen to be equal shareholders in Argo AI

Volkswagen (VWAGY) will invest $2.6B in Argo AI by committing $1B in funding and contributing its $1.6B Autonomous Intelligent Driving, or AID, company, which includes more than 200 employees - most of whom have been developing self-driving technology for the Volkswagen Group. As part of the transaction, Volkswagen also will purchase Argo AI shares from Ford (F) for $500M over three years. Ford will invest the remaining $600M of its previously announced $1B cash commitment in Argo AI. The full transaction represents a valuation for Argo AI that totals more than $7B. Both automakers see significant potential, including profitable growth by tapping new business areas tied to autonomous technology. Argo AI plans to work closely with Ford and Volkswagen to provide the autonomous vehicle technology the automakers need to deliver fully integrated self-driving vehicles that can be manufactured at scale for safe, reliable and durable deployment in ride sharing and goods delivery services. Based in Munich, Germany, AID will become Argo AI's new European headquarters and will be led by AID's current CEO Karlheinz Wurm. With the addition of AID employees, Argo AI will grow from 500 to over 700 employees globally. In addition to its global headquarters in Pittsburgh, Pa., the new location marks Argo AI's first engineering center in Europe and the fifth globally in addition to Dearborn, Mich.; Cranbury, NJ; and Palo Alto, Calif. Collaborating with Ford, Argo AI also is testing its technology in Miami and Washington, D.C., where together they plan deployment of commercial services.

F

Ford

$10.18

0.07 (0.69%)

VWAGY

Volkswagen

$0.00

(0.00%)

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F Ford
$10.18

0.07 (0.69%)

07/03/19
MSCO
07/03/19
NO CHANGE
Target $10
MSCO
Equal Weight
Ford to begin pivot to battery electric vehicles this year, says Morgan Stanley
Morgan Stanley analyst Adam Jonas noted that Ford (F) does not currently sell any battery electric vehicles, or BEVs, but he thinks this is about to change, noting that the company will unveil a Mustang-inspired all-electric BEV later this year and is developing a BEV F-150 truck. He also believes Ford's ongoing strategic partnership discussions with Volkswagen (VWAGY) will give it an opportunity "to close the BEV gap," he tells investors. Jonas, who said a pivot to BEVs could be a risk to Ford's near-term earnings but a longer-term positive for the stock, keeps an Equal Weight rating and $10 price target on Ford shares.
06/27/19
06/27/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with an Underperform at Credit Suisse while Ford (F) and General Motors (GM) initiated with an Outperform. 2. Take-Two (TTWO) initiated with a Buy at SunTrust. 3. Infinity Pharmaceuticals (INFI) initiated with an Outperform at Oppenheimer. 4. Nomad Foods (NOMD) initiated with a Buy at Goldman Sachs. 5. Schlumberger (SLB) initiated with a Buy at Gabelli. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/27/19
06/27/19
INITIATION
Target $13

Outperform
Credit Suisse bullish on Ford, initiates with an Outperform
As previously reported, Credit Suisse analyst Dan Levy initiated Ford with an Outperform rating and $13 price target. The analyst acknowledges that Ford faces a number of risks ahead, as it redesigns its business to address profitability, while concurrently pursuing a longer-term reimagining of the business. Yet he sees upside for the stock, as there have been early signs of improvement with more to come.
06/26/19
FBCO
06/26/19
INITIATION
Target $13
FBCO
Outperform
Ford initiated with an Outperform at Credit Suisse
Credit Suisse initiated Ford with an Outperform and $13 price target.
VWAGY Volkswagen
$0.00

(0.00%)

06/27/19
FBCO
06/27/19
INITIATION
Target $189
FBCO
Underperform
Credit Suisse starts Tesla at Underperform, sees 'niche automaker'
Credit Suisse analyst Dan Levy last night initiated coverage of Tesla (TSLA) with an Underperform rating and $189 price target. The stock closed yesterday down 49c to $219.27. While Tesla currently leads in areas that will likely define the future of car making, the company faces "risks ahead" and is "likely to settle as a niche automaker," Levy tells investors in a research note. Volkswagen's (VWAGY) "strong push" on electric vehicles highlights the competition Tesla faces from larger, better capitalized players, according to the analyst. He believes Tesla lacks the same scale as other automakers and that the company has struggled with the basic "processes" of the auto industry. If Tesla can't maintain "healthy" margins, then its edge in the differentiating aspects of the auto business will be a "moot point," says Levy.
06/03/19
RBCM
06/03/19
INITIATION
RBCM
Outperform
Volkswagen initiated with an Outperform at RBC Capital
RBC Capital analyst Tom Narayan started Volkswagen with an Outperform rating and EUR 202 price target. The analyst rolled out coverage on the European Autos group with a positive bias on car makers and a more cautious view on suppliers. While acknowledging near-term cyclical pressures, Narayan says the market is valuing Daimler, Renault and VW with no terminal value. His positive view on the car makers is supported by his firm's survey work which suggests strong consumer demand for electronic vehicles and a willingness to pay more.
05/31/19
JMPS
05/31/19
NO CHANGE
Target $369
JMPS
Outperform
JMP Securities keeps Outperform rating on Tesla after driving Audi e-tron
After test driving and analyzing the Audi e-tron, which marks Volkswagen's (VWAGY) first fully electric small SUV, JMP Securities analyst Joseph Osha said the test drive left him impressed but he also thinks "VW is late to the EV market and it shows." The e-tron is heavy, "slow by EV standards," and Osha said he thinks the weak range and performance are likely to limit sales for this version of the vehicle. Following the e-tron try-out, Osha reiterated his Outperform rating and $369 price target on Tesla shares, adding that he feels his 90,500 unit target for Tesla's Q2 shipments "is secure" based on early data.

TODAY'S FREE FLY STORIES

01:55
07/19/19
07/19
01:55
07/19/19
01:55
General news
Fed's Williams: Central banks near zero lower bound should act swiftly. »

Fed's Williams:…

SPY

SPDR S&P 500 ETF Trust

$298.86

1.07 (0.36%)

, SPX

S&P 500

$0.00

(0.00%)

20:32
07/18/19
07/18
20:32
07/18/19
20:32
General News
Trump to nominate Gene Scalia as Secretary of Labor »

President Trump tweeted:…

SPY

SPDR S&P 500 ETF Trust

$298.86

1.07 (0.36%)

SPX

S&P 500

$0.00

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AXP

American Express

$128.40

1.355 (1.07%)

, BLK

BlackRock

$474.98

4.06 (0.86%)

20:25
07/18/19
07/18
20:25
07/18/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

AXP

American Express

$128.40

1.355 (1.07%)

BLK

BlackRock

$474.98

4.06 (0.86%)

SLB

Schlumberger

$38.78

0.15 (0.39%)

SYF

Synchrony

$36.09

0.54 (1.52%)

STT

State Street

$56.27

1.67 (3.06%)

CFG

Citizens Financial

$34.62

0.27 (0.79%)

RF

Regions Financial

$14.76

0.06 (0.41%)

KSU

Kansas City Southern

$118.03

1.22 (1.04%)

ALV

Autoliv

$69.88

0.04 (0.06%)

GNTX

Gentex

$23.54

0.01 (0.04%)

MAN

ManpowerGroup

$90.30

0.82 (0.92%)

CLF

Cleveland-Cliffs

$10.88

-0.11 (-1.00%)

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POST

Post Holdings

$108.09

0.64 (0.60%)

20:12
07/18/19
07/18
20:12
07/18/19
20:12
Upgrade
Post Holdings rating change at Piper Jaffray »

Post Holdings upgraded to…

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VMW

VMware

$174.34

0.13 (0.07%)

19:01
07/18/19
07/18
19:01
07/18/19
19:01
Hot Stocks
VMware to acquire Bitfusion, terms not disclosed »

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  • 03

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CRWD

Crowdstrike

$72.75

1.77 (2.49%)

, SKX

Skechers

$34.75

0.35 (1.02%)

18:50
07/18/19
07/18
18:50
07/18/19
18:50
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS:…

CRWD

Crowdstrike

$72.75

1.77 (2.49%)

SKX

Skechers

$34.75

0.35 (1.02%)

EXPO

Exponent

$61.63

0.83 (1.37%)

MSFT

Microsoft

$136.29

0.06 (0.04%)

CHWY

Chewy

$32.79

1.14 (3.60%)

RRGB

Red Robin

$30.58

0.32 (1.06%)

GCI

Gannett

$7.90

-0.185 (-2.29%)

IFRX

InflaRx

$3.12

0.05 (1.63%)

BA

Boeing

$361.17

-8.28 (-2.24%)

MVIS

MicroVision

$0.86

0.0458 (5.62%)

OZK

Bank OZK

$28.61

0.5 (1.78%)

ISRG

Intuitive Surgical

$536.44

13.25 (2.53%)

AA

Alcoa

$23.42

0.27 (1.17%)

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MGM

MGM Resorts

$28.75

-0.095 (-0.33%)

, MGP

MGM Growth

$30.00

-0.06 (-0.20%)

18:50
07/18/19
07/18
18:50
07/18/19
18:50
Periodicals
MGM said to consider sale-leaseback of Bellagio, MGM Grand, Bloomberg says »

The report states the…

MGM

MGM Resorts

$28.75

-0.095 (-0.33%)

MGP

MGM Growth

$30.00

-0.06 (-0.20%)

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AAL

American Airlines

$33.75

0.5 (1.50%)

, UAL

United Continental

$95.27

0.44 (0.46%)

18:49
07/18/19
07/18
18:49
07/18/19
18:49
Periodicals
POTUS meets with U.S. airlines over Qatar subsidy accusations, Reuters says »

U.S. President Donald…

AAL

American Airlines

$33.75

0.5 (1.50%)

UAL

United Continental

$95.27

0.44 (0.46%)

JBLU

JetBlue

$19.23

0.14 (0.73%)

FDX

FedEx

$165.39

0.375 (0.23%)

AAWW

Atlas Air

$42.58

0.79 (1.89%)

BA

Boeing

$361.17

-8.28 (-2.24%)

03/08/13
Wedge Partners
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    Nov

NUE

Nucor

$54.68

-0.03 (-0.05%)

18:44
07/18/19
07/18
18:44
07/18/19
18:44
Hot Stocks
Nucor CEO: We are very pleased with the results from the tariffs »

In an interview on…

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NABZY

National Australia Bank

$0.00

(0.00%)

18:30
07/18/19
07/18
18:30
07/18/19
18:30
Hot Stocks
National Australia Bank names Ross McEwan as new CEO »

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BAC

Bank of America

$29.48

0.3 (1.03%)

18:22
07/18/19
07/18
18:22
07/18/19
18:22
Hot Stocks
Bank of America CEO: Millennials are a huge customer base for us »

In an interview on…

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  • 06

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TAP

Molson Coors

$54.37

0.08 (0.15%)

18:06
07/18/19
07/18
18:06
07/18/19
18:06
Hot Stocks
Molson Coors raises quarterly dividend to 57c from 41c per share »

Molson Coors declared a…

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  • 31

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MSFT

Microsoft

$136.29

0.06 (0.04%)

18:04
07/18/19
07/18
18:04
07/18/19
18:04
Hot Stocks
Breaking Hot Stocks news story on Microsoft »

Microsoft up over 2%…

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BAS

Basic Energy

$1.81

-0.1 (-5.24%)

18:02
07/18/19
07/18
18:02
07/18/19
18:02
Hot Stocks
Basic Energy announces record setting lateral completion in Permian Basin »

Basic Energy Services…

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MSFT

Microsoft

$136.29

0.06 (0.04%)

18:02
07/18/19
07/18
18:02
07/18/19
18:02
Hot Stocks
Microsoft CFO continues to expect double digit revenue growth in FY20 »

Sees FY20 operating…

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  • 18

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QTRH

Quarterhill

$1.23

(0.00%)

18:02
07/18/19
07/18
18:02
07/18/19
18:02
Hot Stocks
WiLAN unit acquires patent portfolio from Vidiator »

Wi-LAN announced that…

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MSFT

Microsoft

$136.29

0.06 (0.04%)

18:00
07/18/19
07/18
18:00
07/18/19
18:00
Earnings
Microsoft sees total Q1 revenue at implied $31.7B-$32.4B, consensus $32.0B »

By segment: Sees Q1…

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  • 18

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RRGB

Red Robin

$30.58

0.32 (1.06%)

18:00
07/18/19
07/18
18:00
07/18/19
18:00
Hot Stocks
Red Robin up 17% after confirming $40.00 per share offer from Vintage Capital »

In after-hours trading,…

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T

AT&T

$33.09

-0.17 (-0.51%)

17:54
07/18/19
07/18
17:54
07/18/19
17:54
Periodicals
AT&T mulls sale of Puerto Rican business to pay down debt, Bloomberg says »

AT&T, which is eyeing…

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RRGB

Red Robin

$30.58

0.32 (1.06%)

17:53
07/18/19
07/18
17:53
07/18/19
17:53
Hot Stocks
Red Robin confirms $40.00 per share cash buyout proposal from Vintage Capital »

Red Robin confirmed it…

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MSFT

Microsoft

$136.29

0.06 (0.04%)

17:50
07/18/19
07/18
17:50
07/18/19
17:50
Hot Stocks
Microsoft CFO: Q4 another quarter of double-digit top and bottom line growth »

Says commercial bookings…

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  • 18

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HBIO

Harvard Bioscience

$1.78

0.03 (1.71%)

17:46
07/18/19
07/18
17:46
07/18/19
17:46
Hot Stocks
Harvard Bioscience names Michael Rossi CFO »

Harvard Bioscience has…

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MSFT

Microsoft

$136.29

0.06 (0.04%)

17:43
07/18/19
07/18
17:43
07/18/19
17:43
Hot Stocks
Microsoft CEO seeing growing momentum across every layer of its stack »

Says LinkedIn saw record…

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  • 18

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ISRG

Intuitive Surgical

$536.44

13.25 (2.53%)

17:38
07/18/19
07/18
17:38
07/18/19
17:38
Hot Stocks
Intuitive Surgical falls after Q2 report, despite earnings beat »

Shares of Intuitive are…

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GLD

SPDR Gold Shares

$136.44

1.85 (1.37%)

17:33
07/18/19
07/18
17:33
07/18/19
17:33
Hot Stocks
SPDR Gold Shares holdings rise to 814.62MT from 803.18MT »

This is the highest level…

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