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Conference/Events
JPMorgan to hold a virtual conference » 08:28
08/11/20
08/11
08:28
08/11/20
08:28
CPS

Cooper-Standard

$14.95 /

+1.67 (+12.58%)

, GPI

Group 1 Automotive

$89.29 /

-2.88 (-3.12%)

, GRAF

Graf Industrial

$16.50 /

+0.58 (+3.64%)

, MCHP

Microchip

$100.26 /

+1.29 (+1.30%)

, SUP

Superior Industries

$1.66 /

+ (+0.00%)

, TEN

Tenneco

$9.32 /

+1.14 (+13.94%)

, VC

Visteon

$79.54 /

+0.58 (+0.73%)

Auto Virtual Conference…

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ShowHide Related Items >><<
VC Visteon
$79.54 /

+0.58 (+0.73%)

TEN Tenneco
$9.32 /

+1.14 (+13.94%)

SUP Superior Industries
$1.66 /

+ (+0.00%)

MCHP Microchip
$100.26 /

+1.29 (+1.30%)

GRAF Graf Industrial
$16.50 /

+0.58 (+3.64%)

GPI Group 1 Automotive
$89.29 /

-2.88 (-3.12%)

CPS Cooper-Standard
$14.95 /

+1.67 (+12.58%)

CPS Cooper-Standard
$14.95 /

+1.67 (+12.58%)

02/26/20 Roth Capital
Cooper-Standard price target lowered to $25 from $47 at Roth Capital
01/09/20 Benchmark
Benchmark starts Cooper-Standard at Hold, needs to see improvement
01/09/20 Benchmark
Cooper-Standard initiated with a Hold at Benchmark
10/16/19 Buckingham
Cooper-Standard shares to be range bound 'at best' for now, says Buckingham
GPI Group 1 Automotive
$89.29 /

-2.88 (-3.12%)

07/08/20 JPMorgan
Group 1 Automotive price target lowered to $94 from $95 at JPMorgan
06/26/20 Benchmark
Group 1 Automotive price target raised to $100 from $79 at Benchmark
06/26/20 JPMorgan
Group 1 Automotive price target raised to $95 from $83 at JPMorgan
03/11/20 Morgan Stanley
Morgan Stanley cuts estimates for GM, Ford and FCA on coronavirus 'demand shock'
GRAF Graf Industrial
$16.50 /

+0.58 (+3.64%)

MCHP Microchip
$100.26 /

+1.29 (+1.30%)

07/13/20 Raymond James
Microchip price target raised to $125 from $115 at Raymond James
07/09/20 Exane BNP Paribas
Microchip initiated with a Neutral at Exane BNP Paribas
06/25/20 Longbow
Longbow cuts second half estimates for semis and components
06/19/20 Loop Capital
Microchip initiated with a Buy at Loop Capital
SUP Superior Industries
$1.66 /

+ (+0.00%)

03/19/20 B. Riley FBR
B. Riley FBR downgrades four names with exposure to auto manufacturers
03/19/20 B. Riley FBR
Superior Industries downgraded to Neutral from Buy at B. Riley FBR
01/09/20 Benchmark
Benchmark starts Superior Industries at Hold on sub-par performance, high debt
01/09/20 Benchmark
Superior Industries initiated with a Hold at Benchmark
TEN Tenneco
$9.32 /

+1.14 (+13.94%)

06/19/20 JPMorgan
Tenneco price target raised to $6 from $5 at JPMorgan
05/11/20 Deutsche Bank
Tenneco price target raised to $7 from $3 at Deutsche Bank
03/30/20
Morgan Stanley adjusts auto supplier ratings, leaving Aptiv as only Overweight
03/30/20 Morgan Stanley
Tenneco downgraded to Underweight from Equal Weight at Morgan Stanley
VC Visteon
$79.54 /

+0.58 (+0.73%)

06/19/20 JPMorgan
Visteon price target raised to $61 from $52 at JPMorgan
05/04/20 Deutsche Bank
Visteon price target raised to $71 from $55 at Deutsche Bank
04/14/20 Goldman Sachs
Visteon initiated with a Sell at Goldman Sachs
02/21/20 RBC Capital
Visteon price target lowered to $91 from $106 at RBC Capital
VC Visteon
$79.54 /

+0.58 (+0.73%)

TEN Tenneco
$9.32 /

+1.14 (+13.94%)

SUP Superior Industries
$1.66 /

+ (+0.00%)

MCHP Microchip
$100.26 /

+1.29 (+1.30%)

GPI Group 1 Automotive
$89.29 /

-2.88 (-3.12%)

CPS Cooper-Standard
$14.95 /

+1.67 (+12.58%)

MCHP Microchip
$100.26 /

+1.29 (+1.30%)

GRAF Graf Industrial
$16.50 /

+0.58 (+3.64%)

GPI Group 1 Automotive
$89.29 /

-2.88 (-3.12%)

TEN Tenneco
$9.32 /

+1.14 (+13.94%)

MCHP Microchip
$100.26 /

+1.29 (+1.30%)

GRAF Graf Industrial
$16.50 /

+0.58 (+3.64%)

MCHP Microchip
$100.26 /

+1.29 (+1.30%)

GRAF Graf Industrial
$16.50 /

+0.58 (+3.64%)

Over a week ago
Hot Stocks
Fly Intel: Top five weekend stock stories » 19:50
08/02/20
08/02
19:50
08/02/20
19:50
MSFT

Microsoft

$205.00 /

+1.135 (+0.56%)

, MPC

Marathon Petroleum

$38.24 /

+0.165 (+0.43%)

, GOOG

Alphabet

$1,482.46 /

-52.125 (-3.40%)

, GOOGL

Alphabet Class A

$1,487.69 /

-48.81 (-3.18%)

, AMZN

Amazon.com

$3,165.00 /

+114.03 (+3.74%)

, AAPL

Apple

$425.02 /

+39.88 (+10.35%)

, FB

Facebook

$253.82 /

+19.19 (+8.18%)

, AN

AutoNation

$51.31 /

-0.29 (-0.56%)

, GPI

Group 1 Automotive

$83.86 /

-5.985 (-6.66%)

, KMX

CarMax

$96.94 /

-1.34 (-1.36%)

Catch up on the…

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Microsoft (MSFT) has confirmed that it has held talks with ByteDance to acquire TikTok in the U.S. In a statement, Microsoft said that, "Following a conversation between Microsoft CEO Satya Nadella and President Donald J. Trump, Microsoft is prepared to continue discussions to explore a purchase of TikTok in the United States. Microsoft fully appreciates the importance of addressing the President's concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury. Microsoft will move quickly to pursue discussions with TikTok's parent company, ByteDance, in a matter of weeks, and in any event completing these discussions no later than September 15, 2020. [...] The operating model for the service would be built to ensure transparency to users as well as appropriate security oversight by governments in these countries. Among other measures, Microsoft would ensure that all private data of TikTok's American users is transferred to and remains in the United States. To the extent that any such data is currently stored or backed-up outside the United States, Microsoft would ensure that this data is deleted from servers outside the country after it is transferred." 2. Marathon Petroleum (MPC) announced that it and certain of its subsidiaries have entered into a definitive agreement with 7-Eleven, a wholly owned, indirect subsidiary of Seven & i Holdings, whereby 7-Eleven will acquire Speedway for $21B in cash. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions and regulatory approvals. 3. On Wednesday, Alphabet's (GOOG; GOOGL) Sundar Pichai, Amazon's (AMZN), Apple's (AAPL) Tim Cook, and Facebook's (FB) Mark Zuckerberg were hauled in front of a virtual Congressional hearing, where they were subjected to more than five hours of cantankerous questions from both sides of the aisle, Eric Savitz wrote in this week's edition of Barron's. But investors basically ignored the proceedings, with all four stocks rising as the hearings went on, the author noted. Less than 24 hours later, investors' confidence was validated, when the same four companies reported their June quarter earnings, posting "impressive, Street-beating sales and profits," he added. Ultimately, there are still regulatory risks for all of these stocks, but the risks seem increasingly modest compared with the enduring appeal of big tech's businesses, the publication contended. 4. Apple is pushing for huge rent reductions across its UK stores despite its sales soaring to new heights during the lockdown, The Sunday Times' Sam Chambers reported. The tech giant has told landlords of a portion of its 38-store estate in the U.K. that it wants rents slashed by up to 50% and a rent-free period. In return, it has offered to extend leases by a few years, the author noted. 5. AutoNation (AN), Group 1 Automotive (GPI) and CarMax (KMX) saw positive mentions in this week's edition of Barron's.

ShowHide Related Items >><<
MSFT Microsoft
$205.00 /

+1.135 (+0.56%)

MPC Marathon Petroleum
$38.24 /

+0.165 (+0.43%)

KMX CarMax
$96.94 /

-1.34 (-1.36%)

GPI Group 1 Automotive
$83.86 /

-5.985 (-6.66%)

GOOGL Alphabet Class A
$1,487.69 /

-48.81 (-3.18%)

GOOG Alphabet
$1,482.46 /

-52.125 (-3.40%)

FB Facebook
$253.82 /

+19.19 (+8.18%)

AN AutoNation
$51.31 /

-0.29 (-0.56%)

AMZN Amazon.com
$3,165.00 /

+114.03 (+3.74%)

AAPL Apple
$425.02 /

+39.88 (+10.35%)

MSFT Microsoft
$205.00 /

+1.135 (+0.56%)

07/31/20 Stifel
Citrix disclosure points to $1B commitment, most likely to Azure, says Stifel
07/27/20 Morgan Stanley
Morgan Stanley downgrades Software industry view to In-Line from Attractive
07/23/20
Fly Intel: Top five analyst downgrades
07/23/20 Wedbush
Microsoft remains top cloud name at Wedbush
MPC Marathon Petroleum
$38.24 /

+0.165 (+0.43%)

07/15/20 Morgan Stanley
MPLX downgraded to Equal Weight from Overweight at Morgan Stanley
05/13/20 Morgan Stanley
U.S. gasoline consumption appears to have bottomed, says Morgan Stanley
04/24/20 Citi
Marathon Petroleum downgraded to Neutral from Buy at Citi
03/24/20 Raymond James
Marathon Petroleum double downgraded to Market Perform at Raymond James
GOOG Alphabet
$1,482.46 /

-52.125 (-3.40%)

07/31/20
Fly Intel: Top five analyst downgrades
07/31/20 Guggenheim
Alphabet price target raised to $1,725 from $1,580 at Guggenheim
07/31/20 Raymond James
Alphabet price target raised to $1,700 from $1,425 at Raymond James
07/31/20 Oppenheimer
Alphabet price target raised to $1,685 from $1,445 at Oppenheimer
GOOGL Alphabet Class A
$1,487.69 /

-48.81 (-3.18%)

07/31/20 RBC Capital
Alphabet price target raised to $1,700 from $1,500 at RBC Capital
07/31/20 Morgan Stanley
Alphabet price target raised to $1,760 from $1,700 at Morgan Stanley
07/31/20 Barclays
Alphabet price target raised to $1,800 from $1,600 at Barclays
AMZN Amazon.com
$3,165.00 /

+114.03 (+3.74%)

07/31/20 BMO Capital
Amazon.com price target raised to $3,700 from $3,500 at BMO Capital
07/31/20 RBC Capital
Amazon.com price target raised to $3,800 from $3,300 at RBC Capital
07/31/20 Guggenheim
Amazon.com price target raised to $3,600 from $2,700 at Guggenheim
07/31/20 Goldman Sachs
Amazon.com price target raised to $4,200 from $3,800 at Goldman Sachs
AAPL Apple
$425.02 /

+39.88 (+10.35%)

07/31/20 Canaccord
Canaccord boosts Apple target to $460 after 'impressive' quarter
07/31/20 RBC Capital
Apple price target raised to $445 from $390 at RBC Capital
07/31/20
Apple price target raised to $460 from $425 at JPMorgan
07/31/20 Loop Capital
Apple price target raised to $376 from $330 at Loop Capital
FB Facebook
$253.82 /

+19.19 (+8.18%)

07/31/20
Facebook price target raised to $300 from $290 at JPMorgan
07/31/20 Wedbush
Facebook price target raised to $300 from $250 at Wedbush
07/31/20 RBC Capital
Facebook price target raised to $320 from $271 at RBC Capital
07/31/20 Raymond James
Facebook price target raised to $280 from $240 at Raymond James
AN AutoNation
$51.31 /

-0.29 (-0.56%)

07/24/20
Fly Intel: Top five analyst upgrades
07/24/20 Truist
AutoNation price target raised to $55 from $42 at SunTrust
07/24/20 JPMorgan
AutoNation upgraded to Overweight from Neutral at JPMorgan
07/17/20
Fly Intel: Top five analyst downgrades
GPI Group 1 Automotive
$83.86 /

-5.985 (-6.66%)

07/08/20 JPMorgan
Group 1 Automotive price target lowered to $94 from $95 at JPMorgan
06/26/20 Benchmark
Group 1 Automotive price target raised to $100 from $79 at Benchmark
06/26/20 JPMorgan
Group 1 Automotive price target raised to $95 from $83 at JPMorgan
03/11/20 Morgan Stanley
Morgan Stanley cuts estimates for GM, Ford and FCA on coronavirus 'demand shock'
KMX CarMax
$96.94 /

-1.34 (-1.36%)

07/02/20 Oppenheimer
CarMax price target raised to $108 from $87 at Oppenheimer
06/24/20 Jefferies
CarMax, AutoNation could be eyeing Hertz in bankruptcy, says Jefferies
06/23/20 Argus
CarMax price target raised to $105 from $75 at Argus
06/22/20 RBC Capital
CarMax price target raised to $100 from $80 at RBC Capital
MSFT Microsoft
$205.00 /

+1.135 (+0.56%)

MPC Marathon Petroleum
$38.24 /

+0.165 (+0.43%)

KMX CarMax
$96.94 /

-1.34 (-1.36%)

GPI Group 1 Automotive
$83.86 /

-5.985 (-6.66%)

GOOG Alphabet
$1,482.46 /

-52.125 (-3.40%)

FB Facebook
$253.82 /

+19.19 (+8.18%)

AN AutoNation
$51.31 /

-0.29 (-0.56%)

AMZN Amazon.com
$3,165.00 /

+114.03 (+3.74%)

AAPL Apple
$425.02 /

+39.88 (+10.35%)

MSFT Microsoft
$205.00 /

+1.135 (+0.56%)

MPC Marathon Petroleum
$38.24 /

+0.165 (+0.43%)

GOOG Alphabet
$1,482.46 /

-52.125 (-3.40%)

FB Facebook
$253.82 /

+19.19 (+8.18%)

AN AutoNation
$51.31 /

-0.29 (-0.56%)

AMZN Amazon.com
$3,165.00 /

+114.03 (+3.74%)

AAPL Apple
$425.02 /

+39.88 (+10.35%)

MSFT Microsoft
$205.00 /

+1.135 (+0.56%)

MPC Marathon Petroleum
$38.24 /

+0.165 (+0.43%)

KMX CarMax
$96.94 /

-1.34 (-1.36%)

GOOGL Alphabet Class A
$1,487.69 /

-48.81 (-3.18%)

GOOG Alphabet
$1,482.46 /

-52.125 (-3.40%)

AN AutoNation
$51.31 /

-0.29 (-0.56%)

AAPL Apple
$425.02 /

+39.88 (+10.35%)

MSFT Microsoft
$205.00 /

+1.135 (+0.56%)

MPC Marathon Petroleum
$38.24 /

+0.165 (+0.43%)

KMX CarMax
$96.94 /

-1.34 (-1.36%)

GOOGL Alphabet Class A
$1,487.69 /

-48.81 (-3.18%)

GOOG Alphabet
$1,482.46 /

-52.125 (-3.40%)

FB Facebook
$253.82 /

+19.19 (+8.18%)

AN AutoNation
$51.31 /

-0.29 (-0.56%)

AMZN Amazon.com
$3,165.00 /

+114.03 (+3.74%)

AAPL Apple
$425.02 /

+39.88 (+10.35%)

MSFT Microsoft
$205.00 /

+1.135 (+0.56%)

GOOG Alphabet
$1,482.46 /

-52.125 (-3.40%)

AMZN Amazon.com
$3,165.00 /

+114.03 (+3.74%)

Periodicals
Traditional dealerships continue to have some spark, Barron's says » 09:36
08/01/20
08/01
09:36
08/01/20
09:36
KMX

CarMax

$96.94 /

-1.34 (-1.36%)

, GPI

Group 1 Automotive

$83.86 /

-5.985 (-6.66%)

, AN

AutoNation

$51.31 /

-0.29 (-0.56%)

Traditional dealerships,…

Traditional dealerships, such as AutoNation (AN), Group 1 Automotive (GPI) and CarMax (KMX), continue to have some spark, each offering a compelling play on a recovery, Daren Fonda writes in this week's edition of Barron's. AutoNation and Group 1 are both contrarian ideas, hinging on company-specific catalysts to lift sales, the author notes, adding that CarMax, the largest used-car dealer, has the wind at its back as used-car prices hit record highs and sales strengthen as shoppers tighten their grip on their wallets, buying pre-owned, rather than new, in the recession. Reference Link

ShowHide Related Items >><<
KMX CarMax
$96.94 /

-1.34 (-1.36%)

GPI Group 1 Automotive
$83.86 /

-5.985 (-6.66%)

AN AutoNation
$51.31 /

-0.29 (-0.56%)

KMX CarMax
$96.94 /

-1.34 (-1.36%)

07/02/20 Oppenheimer
CarMax price target raised to $108 from $87 at Oppenheimer
06/24/20 Jefferies
CarMax, AutoNation could be eyeing Hertz in bankruptcy, says Jefferies
06/23/20 Argus
CarMax price target raised to $105 from $75 at Argus
06/22/20 RBC Capital
CarMax price target raised to $100 from $80 at RBC Capital
GPI Group 1 Automotive
$83.86 /

-5.985 (-6.66%)

07/08/20 JPMorgan
Group 1 Automotive price target lowered to $94 from $95 at JPMorgan
06/26/20 Benchmark
Group 1 Automotive price target raised to $100 from $79 at Benchmark
06/26/20 JPMorgan
Group 1 Automotive price target raised to $95 from $83 at JPMorgan
03/11/20 Morgan Stanley
Morgan Stanley cuts estimates for GM, Ford and FCA on coronavirus 'demand shock'
AN AutoNation
$51.31 /

-0.29 (-0.56%)

07/24/20
Fly Intel: Top five analyst upgrades
07/24/20 Truist
AutoNation price target raised to $55 from $42 at SunTrust
07/24/20 JPMorgan
AutoNation upgraded to Overweight from Neutral at JPMorgan
07/17/20
Fly Intel: Top five analyst downgrades
KMX CarMax
$96.94 /

-1.34 (-1.36%)

GPI Group 1 Automotive
$83.86 /

-5.985 (-6.66%)

AN AutoNation
$51.31 /

-0.29 (-0.56%)

KMX CarMax
$96.94 /

-1.34 (-1.36%)

AN AutoNation
$51.31 /

-0.29 (-0.56%)

KMX CarMax
$96.94 /

-1.34 (-1.36%)

AN AutoNation
$51.31 /

-0.29 (-0.56%)

KMX CarMax
$96.94 /

-1.34 (-1.36%)

AN AutoNation
$51.31 /

-0.29 (-0.56%)

Earnings
Group 1 Automotive reports Q2 EPS $3.77, consensus 68c » 07:08
07/30/20
07/30
07:08
07/30/20
07:08
GPI

Group 1 Automotive

$89.25 /

+3.55 (+4.14%)

Reports Q2 revenue $2.1B,…

Reports Q2 revenue $2.1B, consensus $2.15B.

ShowHide Related Items >><<
GPI Group 1 Automotive
$89.25 /

+3.55 (+4.14%)

GPI Group 1 Automotive
$89.25 /

+3.55 (+4.14%)

07/08/20 JPMorgan
Group 1 Automotive price target lowered to $94 from $95 at JPMorgan
06/26/20 Benchmark
Group 1 Automotive price target raised to $100 from $79 at Benchmark
06/26/20 JPMorgan
Group 1 Automotive price target raised to $95 from $83 at JPMorgan
03/11/20 Morgan Stanley
Morgan Stanley cuts estimates for GM, Ford and FCA on coronavirus 'demand shock'
GPI Group 1 Automotive
$89.25 /

+3.55 (+4.14%)

Over a month ago
Recommendations
Group 1 Automotive price target lowered to $94 from $95 at JPMorgan » 09:15
07/08/20
07/08
09:15
07/08/20
09:15
GPI

Group 1 Automotive

$65.19 /

+0.305 (+0.47%)

JPMorgan analyst Rajat…

JPMorgan analyst Rajat Gupta lowered the firm's price target on Group 1 Automotive to $94 from $95 and keeps an Overweight rating on the shares. The analyst increased estimates for U.S. auto dealerships across the board and sees a favorable setup into the second half of 2020 as 2021 earnings come into view.

ShowHide Related Items >><<
GPI Group 1 Automotive
$65.19 /

+0.305 (+0.47%)

GPI Group 1 Automotive
$65.19 /

+0.305 (+0.47%)

06/26/20 Benchmark
Group 1 Automotive price target raised to $100 from $79 at Benchmark
06/26/20 JPMorgan
Group 1 Automotive price target raised to $95 from $83 at JPMorgan
03/11/20 Morgan Stanley
Morgan Stanley cuts estimates for GM, Ford and FCA on coronavirus 'demand shock'
01/09/20 Benchmark
Benchmark starts Group 1 Automotive at Buy with $127 price target
GPI Group 1 Automotive
$65.19 /

+0.305 (+0.47%)

Recommendations
Group 1 Automotive price target raised to $100 from $79 at Benchmark » 08:37
06/26/20
06/26
08:37
06/26/20
08:37
GPI

Group 1 Automotive

$58.49 /

+0.38 (+0.65%)

Benchmark analyst Michael…

Benchmark analyst Michael Ward raised the firm's price target on Group 1 Automotive to $100 from $79 and keeps a Buy rating on the shares, citing a better than expected recovery in U.S. new and used vehicle market along with cost cutting initiatives at the company. After Group 1 pre-announced that its expects to be "significantly profitable" in the second quarter, Ward increased his 2020 and 2021 earnings forecast to reflect both the company comments and recent industry trends, he tells investors.

ShowHide Related Items >><<
GPI Group 1 Automotive
$58.49 /

+0.38 (+0.65%)

GPI Group 1 Automotive
$58.49 /

+0.38 (+0.65%)

06/26/20 JPMorgan
Group 1 Automotive price target raised to $95 from $83 at JPMorgan
03/11/20 Morgan Stanley
Morgan Stanley cuts estimates for GM, Ford and FCA on coronavirus 'demand shock'
01/09/20 Benchmark
Benchmark starts Group 1 Automotive at Buy with $127 price target
01/09/20 Benchmark
Group 1 Automotive initiated with a Buy at Benchmark
GPI Group 1 Automotive
$58.49 /

+0.38 (+0.65%)

Recommendations
Group 1 Automotive price target raised to $95 from $83 at JPMorgan » 08:16
06/26/20
06/26
08:16
06/26/20
08:16
GPI

Group 1 Automotive

$58.49 /

+0.38 (+0.65%)

JPMorgan analyst Rajat…

JPMorgan analyst Rajat Gupta raised the firm's price target on Group 1 Automotive to $95 from $83 and keeps an Overweight rating on the shares. The company's Q2 business update was "significantly ahead of expectations," particularly on earnings driven by better than expected gross margin and cost cuts impact, Gupta tells investors in a research note.

ShowHide Related Items >><<
GPI Group 1 Automotive
$58.49 /

+0.38 (+0.65%)

GPI Group 1 Automotive
$58.49 /

+0.38 (+0.65%)

03/11/20 Morgan Stanley
Morgan Stanley cuts estimates for GM, Ford and FCA on coronavirus 'demand shock'
01/09/20 Benchmark
Benchmark starts Group 1 Automotive at Buy with $127 price target
01/09/20 Benchmark
Group 1 Automotive initiated with a Buy at Benchmark
01/07/20 JPMorgan
JPMorgan sees attractive entry points following Auto Dealerships selloff
GPI Group 1 Automotive
$58.49 /

+0.38 (+0.65%)

Hot Stocks
Group 1 Automotive: 'Significantly improving market conditions' in May-June » 16:10
06/25/20
06/25
16:10
06/25/20
16:10
GPI

Group 1 Automotive

$58.40 /

+0.29 (+0.50%)

Group 1 Automotive…

Group 1 Automotive provided an operational update on its business for the second quarter 2020 and noted significantly improving market conditions and operating trends in May and June-to-date when compared to March and April, 2020. In late March, the company implemented major cost reductions as "shelter-in-place" orders dramatically curtailed operations and overall business levels. All of the company's U.S. automotive retail dealership sales and service operations have been open since early May, with the exception of a small number of temporary facility closures due to instances of specific COVID-19 cases. Since that time, revenues for new vehicle sales and service have increased at a much faster rate than associated costs. As a result, U.S. operating profits are improving much faster than anticipated. In the UK, all vehicle sales operations closed during the second half of March with showrooms only opening again on June 1, 2020. Additionally, dealership service departments were closed in the second quarter until May 18, 2020, with the exception of selected dealerships, which had remained open for emergency service. Although this created a financial loss in the UK in April and May, used vehicle and service activity have dramatically improved in June, and we expect our UK operations to show a profit for the month. The greatest challenge to dealership operations has been in the Brazilian market where Group 1 dealerships were closed most of the quarter with the final dealerships not reopening until mid-June. However, in some of the company's Brazilian markets, the virus has not yet reached its predicted peak. The rebound in vehicle sales and service performance in the U.S. in May and June-to-date should enable the company to offset the financial headwinds in the UK and Brazil in the second quarter to achieve substantial operational profits at the dealership level. However, we would point out that there are potentially several non-recurring charges that will impact the quarter. First, as was previously announced in April 2020, the company incurred approximately $10.4 million of redemption costs associated with calling the company's 5.250% bonds. In addition, the uncertain nature of the long-term impact of COVID-19 on the auto market, especially in the UK and Brazil, will trigger financial testing of certain intangible asset values, which could result in asset impairments also being incurred within second quarter 2020 GAAP financial results. More details will be provided when the company reports second quarter results, which is expected to occur as usually scheduled in late July 2020. "The faster-than-expected recovery of the U.S. auto market combined with our timely and aggressive cost cuts across all three of our operating markets and at our headquarters will enable us to report a better-than-expected financial quarter on an operating basis. Despite large revenue declines for the second quarter, we project new vehicle sales margin improvements and meaningful cost leverage to drive a significant level of corporate profitability. Used vehicle sales are currently strong in both the U.S. and UK. Although we are not yet back to pre-COVID-19 levels in new vehicle sales and service, we have seen continuing improvement in both areas since early May in the U.S. and since the beginning of June in the UK," said Earl J. Hesterberg, Group 1's president and CEO.

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GPI Group 1 Automotive
$58.40 /

+0.29 (+0.50%)

GPI Group 1 Automotive
$58.40 /

+0.29 (+0.50%)

03/11/20 Morgan Stanley
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Benchmark starts Group 1 Automotive at Buy with $127 price target
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GPI Group 1 Automotive
$58.40 /

+0.29 (+0.50%)

Conference/Events
Group 1 Automotive participates in a conference call with Stephens » 12:25
06/25/20
06/25
12:25
06/25/20
12:25
GPI

Group 1 Automotive

$56.50 /

-1.61 (-2.77%)

Conference call with CFO…

Conference call with CFO Rickel will be held on June 25 at 1 pm hosted by Stephens.

ShowHide Related Items >><<
GPI Group 1 Automotive
$56.50 /

-1.61 (-2.77%)

GPI Group 1 Automotive
$56.50 /

-1.61 (-2.77%)

03/11/20 Morgan Stanley
Morgan Stanley cuts estimates for GM, Ford and FCA on coronavirus 'demand shock'
01/09/20 Benchmark
Benchmark starts Group 1 Automotive at Buy with $127 price target
01/09/20 Benchmark
Group 1 Automotive initiated with a Buy at Benchmark
01/07/20 JPMorgan
JPMorgan sees attractive entry points following Auto Dealerships selloff
GPI Group 1 Automotive
$56.50 /

-1.61 (-2.77%)

Conference/Events
Group 1 Automotive participates in a conference call with Stephens » 04:55
06/25/20
06/25
04:55
06/25/20
04:55
GPI

Group 1 Automotive

$58.11 /

-6.76 (-10.42%)

Conference call with CFO…

Conference call with CFO Rickel will be held on June 25 at 1 pm hosted by Stephens.

ShowHide Related Items >><<
GPI Group 1 Automotive
$58.11 /

-6.76 (-10.42%)

GPI Group 1 Automotive
$58.11 /

-6.76 (-10.42%)

03/11/20 Morgan Stanley
Morgan Stanley cuts estimates for GM, Ford and FCA on coronavirus 'demand shock'
01/09/20 Benchmark
Benchmark starts Group 1 Automotive at Buy with $127 price target
01/09/20 Benchmark
Group 1 Automotive initiated with a Buy at Benchmark
01/07/20 JPMorgan
JPMorgan sees attractive entry points following Auto Dealerships selloff
GPI Group 1 Automotive
$58.11 /

-6.76 (-10.42%)

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