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VNE

Veoneer

$16.59

-0.18 (-1.07%)

06:23
10/23/19
10/23
06:23
10/23/19
06:23

Veoneer reports Q3 EPS ($1.20), consensus ($1.34)

Reports Q3 revenue $462M, consensus $477.15M. Jan Carlson, Chairman, President and CEO said, "During the quarter our market adjustment initiatives announced at the beginning of the year started to take effect. Driven by these operational improvements our operating loss was reduced by $15 million sequentially despite lower organic sales. The reduction came primarily through lower RD&E costs achieved through prudent resource management and to a lesser extent by partnering in some engineering related activities in Active Safety. We were also successful in working capital management, particularly in managing accounts receivables and inventories. We will continue to drive our improvement initiatives, including partnering and outsourcing opportunities, as we adapt to the market realities, and drive our own continued development. In September, we signed our seventh customer for our in-house developed vision technology. This shows that our core development combined with the software developed in Zenuity delivers powerful solutions, creating leading ADAS and collaborative driving functionality for the years to come. In addition, we are currently preparing to introduce our fourth-generation vision technology, as part of a number of our customer launches in 2020 and into 2021. The automotive industry faced a volatile and challenging quarter, with light vehicle production being weaker than anticipated in July across most of our major markets. Veoneer saw a sharper sales decline than the overall market, as we faced some model phase-outs of certain customer programs and a negative product mix. In addition, positive effects on sales growth from launches of new customer programs are only anticipated to start in 2020. We see this challenging environment in our industry, to continue for some time. This relates both to an increased volatility in LVP forecasts as well as customer launch schedules and take rates, particularly in China, for products sold as optional features by the OEMs. Specifically, for Veoneer we are proactively managing the inherent risks that come from launching several new customer programs and technologies in a short time span in the quarters to come. For the next several quarters, our focus is on: successful customer launches heading into 2020 and 2021, market adjustment initiatives to continue to drive efficiencies and improve cash flow, and to continue to win profitable new business."

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VNE Veoneer
$16.59

-0.18 (-1.07%)

06/27/19
FBCO
06/27/19
INITIATION
Target $18
FBCO
Neutral
Veoneer initiated with a Neutral at Credit Suisse
Credit Suisse analyst Dan Levy started coverage of Veoneer with a Neutral rating and $18 price target. The analyst believes it offers a "unique narrative" versus other parts suppliers, and presents the potential to be the "best organic revenue growth story," while also offering the highest relative exposure to the high-growth active safety space. Yet the challenge for the company will be to pivot to profitability, he contended. With significant resources required to execute its growth plan, Levy does not expect Veoneer to reach EBIT breakeven before 2023.
07/17/19
SBSH
07/17/19
DOWNGRADE
Target $144
SBSH
Neutral
Lear downgraded to Neutral from Buy at Citi
Citi analyst Itay Michaeli downgraded Lear (LEA) to Neutral from Buy and lowered his price target on the stock to $144 from $188 following the company's 2019 guidance cut, which he contends "might not be fully explained by macro alone." Given the double-digit percentage cut to Lear's FY19 net income outlook, the reaction in the stock today "appears rather mild," said the analsyt, who added that the guidance cut suggests to him a worsening of some of the E-Systems revenue issues he'd previously called out. On the surface, the news appears to have a negative-read for suppliers with heavy exposure in Europe and China - such as Visteon (VC), Autoliv (ALV), Veoneer (VNE), BorgWarner (BWA) and Aptiv (APTV) - but Michaeli reiterated that he thinks there are also company-specific factors in play.
10/15/19
GUGG
10/15/19
INITIATION
GUGG
Neutral
Veoneer initiated with a Neutral at Guggenheim
Guggenheim analyst Ali Faghri started Veoneer with a Neutral rating.
10/16/19
GUGG
10/16/19
INITIATION
GUGG
Guggenheim initiates Auto Suppliers with cautious sector view
Guggenheim analyst Ali Faghri initiated coverage last night on the Auto Suppliers with a cautious sector view. The automotive sector is facing increasing cyclical pressures globally, says Faghri, who forecasts flat to negative global industry production volumes through 2021. This creates a challenging operating environment for auto suppliers, the analyst tells investors in a research note. Faghri believes Europe represents the most significant risk to the group's outlook, pointing out that his work suggests "macro headwinds and disruptive emissions regulations will significantly impact vehicle demand in the region over the next few years." The analyst initiated coverage of Aptiv (APTV) and Gentex (GNTX) with Buy ratings. For Aptiv, he sees high single-digit organic growth through 2022 driven by active safety and electric vehicle content gains. For Gentex, the analyst sees upside to 2019 consensus due to stronger gross margins and visibility for continued above market growth. Faghri rounded out his coverage with Neutral ratings on BorgWarner (BWA), Delphi Technologies (DLPH), Lear (LEA), Visteon (VC) and Veoneer (VNE).

TODAY'S FREE FLY STORIES

CMCSK

Comcast

$0.00

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CWK

Cushman & Wakefield

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LMT

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3.305 (0.85%)

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ESCA

Escalade

$10.90

-0.09 (-0.82%)

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CZR

Caesars

$12.96

0.1 (0.78%)

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Caesars

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ERI

Eldorado Resorts

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EGRX

Eagle Pharmaceuticals

$57.24

0.55 (0.97%)

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Breaking Syndicate news story on Eagle Pharmaceuticals »

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FN

Fabrinet

$60.82

0.84 (1.40%)

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Fabrinet President Gill sells 12.9K shares of common stock »

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TEUM

Pareteum

$0.38

-0.0209 (-5.21%)

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HEXO

Hexo

$1.78

-0.1 (-5.32%)

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AMGN

Amgen

$220.84

2.29 (1.05%)

, CELG

Celgene

$110.02

-0.01 (-0.01%)

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AMGN

Amgen

$220.84

2.29 (1.05%)

CELG

Celgene

$110.02

-0.01 (-0.01%)

BMY

Bristol-Myers

$58.61

0.11 (0.19%)

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RAVE

Rave Restaurant

$1.44

-0.79 (-35.43%)

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CHAP

Chaparral Energy

$0.89

-0.0521 (-5.52%)

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Chaparral Energy receives continued listing standard notice from NYSE »

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16:45
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General news
Breaking General news story  »

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CI

Cigna

$196.08

6.41 (3.38%)

, CNC

Centene

$57.57

2.91 (5.32%)

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On The Fly
Fly Intel: Wall Street's top stories for Friday »

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CI

Cigna

$196.08

6.41 (3.38%)

CNC

Centene

$57.57

2.91 (5.32%)

CVS

CVS Health

$74.27

1.34 (1.84%)

HUM

Humana

$335.43

17.48 (5.50%)

UNH

UnitedHealth

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13.68 (5.35%)

WCG

WellCare

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10.155 (3.36%)

HNT

Health Net

$0.00

(0.00%)

MOH

Molina Healthcare

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7.3 (5.97%)

ANTM

Anthem

$298.18

16.14 (5.72%)

HCA

HCA Healthcare

$137.98

3.51 (2.61%)

CYH

Community Health

$3.12

0.25 (8.71%)

LPNT

LifePoint

$0.00

(0.00%)

UHS

Universal Health

$144.30

3.13 (2.22%)

NVDA

Nvidia

$204.12

-5.76 (-2.74%)

AMZN

Amazon.com

$1,739.33

-15.38 (-0.88%)

MSFT

Microsoft

$149.95

1.89 (1.28%)

UAA

Under Armour

$17.78

0.65 (3.79%)

UA

Under Armour

$15.97

0.41 (2.64%)

AMRN

Amarin

$23.99

2.5 (11.63%)

JNJ

Johnson & Johnson

$134.97

3.99 (3.05%)

GOOG

Alphabet

$1,334.01

21.82 (1.66%)

GOOGL

Alphabet Class A

$1,333.33

23.54 (1.80%)

ORCL

Oracle

$56.43

0.33 (0.59%)

RH

RH

$188.73

13.535 (7.73%)

QGEN

Qiagen

$40.56

3.255 (8.73%)

FTCH

Farfetch

$9.66

2.17 (28.97%)

THC

Tenet

$30.55

1.08 (3.66%)

TORC

resTORbio

$1.10

-6.83 (-86.13%)

ACB

Aurora Cannabis

$2.72

-0.57 (-17.33%)

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NYT

New York Times

$31.60

0.44 (1.41%)

16:41
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New York Times CEO sells 66,000 class A common shares »

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  • 09

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WEX

Wex

$200.52

4.61 (2.35%)

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Wex director Morris sells 3K shares of common stock »

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CBLI

Cleveland BioLabs

$0.59

-0.0444 (-6.97%)

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Cleveland BioLabs CEO resigns effective December 13th »

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LOGC

LogicBio Therapeutics

$9.29

-0.04 (-0.43%)

16:38
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Syndicate
Breaking Syndicate news story on LogicBio Therapeutics »

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HTBI

HomeTrust

$25.99

-0.31 (-1.18%)

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HomeTrust raises quarterly dividend 17% to 7c per share »

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  • 18

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FR

First Industrial Realty

$42.05

-0.03 (-0.07%)

16:36
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Hot Stocks
First Industrial Realty director sells 12K shares of common stock »

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UBSI

United Bankshares

$39.51

-0.19 (-0.48%)

16:31
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Hot Stocks
United Bankshares declares Q4 dividend of 35c per share »

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16:30
11/15/19
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16:30
Options
Preliminary option volume of 24.0M today »

Preliminary option volume…

16:25
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Conference/Events
Federal Reserve Bank of San Francisco participates in a discussion »

San Francisco Federal…

GNLN

Greenlane

$3.36

-0.05 (-1.47%)

16:23
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Greenlane CEO buys 56.4K shares of common stock »

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