PM Abe: Toyota to help secure 20,000 ventilators for Japan, Bloomberg reports » 16:3304/0704/07/20
According to Prime…
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Week in Review: How Trump's policies moved stocks » 07:2904/0404/04/20
XOM, CVX, NBL, XEC, FANG, RDS.A, RDS.B, DVN, BP, COP, MRO, BAC, WFC, C, JPM, MMM, VMC, EXP, GVA, NUE, PWR, J, MLM, DDAIF, FCAU, F, GM, HMC, NSANY, TSLA, TM, VWAGY
Catch up on the top…
Fly Intel: Wall Street's top stories for Wednesday » 16:3804/0104/01/20
GM, FCAU, TM, TMUS, XRX, HPQ, AMZN, T, XOM, CVX, OXY, CLR, KGC, AMRN, CPRI, WLL, IMMU
Stocks began April and…
Toyota Motor North America reports March sales down 31.8% on DSR basis y/y » 14:0204/0104/01/20
Toyota Motor North…
Toyota Motor North America reported March 2020 sales of 135,730 vehicles, a decrease of 36.9% on a volume basis and down 31.8% on a daily selling rate basis versus March 2019. For the first quarter, TMNA reported sales of 495,747 vehicles, an 8.8% decrease on a volume and DSR basis. "During this unprecedented time, Toyota's number one priority is on the health and safety of our team members, business partners, customers and the communities where we do business," said Bob Carter, executive vice president of sales, TMNA. "We have teams working around the clock to ensure our customers' needs are satisfied, and despite the ever-changing market dynamics, we continue to take appropriate actions that serve our long-term business objectives." Reference Link
|Over a week ago|
Trump says new emissions rule will lower average car prices for consumers » 15:5503/3103/31/20
F, GM, HMC, NSANY, TM, TSLA, DDAIF, FCAU, VWAGY
President Donald Trump…
President Donald Trump tweeted: "My proposal to the politically correct Automobile Companies would lower the average price of a car to consumers by more than $3500, while at the same time making the cars substantially safer. Engines would run smoother. Positive impact on the environment! Foolish executives!" Publicly traded automakers include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY). Reference Link
Toyota and Honda upgraded to Buy, Nissan cut to Sell at UBS » 16:4803/3003/30/20
TM, HMC, NSANY, DNZOY, ASEKY
UBS analyst Kohei…
UBS analyst Kohei Takahashi upgraded Toyota (TM) and Honda (HMC) to Buy from Neutral while cutting Nissan (NSANY) two notches to Sell from Buy as part of a broader research note on Japan Auto and Parts sector. The analyst notes that the retreat in auto sales and earnings has been historic, and while the fiscal stimulus is expected to drive a sales rebound, he expects stiffer competition to slow profit growth in the medium term. Takahashi prefers leading firms like Toyota and Honda due to the strength of their balance sheets, but warns that Nissan may be faced with record high cash outflow and balance sheet deterioration over the next 6-12 months as COVID-19 runs the risk of a delay for its new models.
Toyota upgraded to Buy from Neutral at UBS » 16:3703/3003/30/20
UBS analyst Kohei…
UBS analyst Kohei Takahashi upgraded Toyota to Buy from Neutral with a price target of 7,500 yen, down from 8,000 yen.
Toyota extends European factories suspension until further notice, Reuters says » 06:5603/3003/30/20
Toyota will extend a…
Toyota will extend a suspension at all of its European factories with the exception of Russia until further notice, with production expected to start no earlier than April 20, Chang-Ran Kim of Reuters reported. Its Russian factory will be closed from March 30 to April 3. Toyota previously halted production in all of North America. Reference Link
Toyota says 'ready to produce' COVID-19 masks, working on ventilator plans » 11:2503/2703/27/20
Toyota Motor North…
Toyota Motor North America announced earlier that it "continues to assist those in need with essential supplies, emergency relief and is providing on-going support to many local organizations and non-profits." These efforts include monetary, "in-kind" donations, plus "utilizing several of the company's North American facilities to fabricate face shields while collaborating with medical device companies to speed the manufacture of ventilators, respirators and other vital devices for hospitals," the company stated. The company said it is working to produce 3-D printed face shields, and mass production will kick off early next week and is "ready to produce COVID-19 masks," while currently seeking partners for filters. Toyota also reported that it is finalizing agreements to "begin working with at least two companies that produce ventilators and respirators to help increase their capacity."
Toyota seeks $9.2B credit line as virus hits funding market, Kyodo News says » 08:1003/2703/27/20
Toyota is seeking a $9.2B…
Toyota is seeking a $9.2B credit line from its bankers, according to a report by Japan's Kyodo News. Toyota's financial base remains solid but it is aiming to increase its cash on hand to prepare for a further escalation in the coronavirus pandemic, which has led to plant closures worldwide, company sources say. Reference Link