|Over a week ago|
AB Volvo to cut white-collar staff by 4,100 in 2H20, Reuters reports » 10:0906/1606/16/20
AB Volvo plans to reduce…
AB Volvo plans to reduce its white-collar staff by approximately 4,100 positions during 2H20 due to the effects of the coronavirus pandemic, Reuters' Johannes Hellstrom reports, citing a statement. "The Corona epidemic and the global measures taken to fight it has led to a market situation impacting our industry severely," Volvo CEO Martin Lundstedt said. "The effects are expected to be lower demand going forward and we need to continue to adjust our organization accordingly." The company said about 15% of the expected cuts were consultants and roughly 1,250 positions are planned to be eliminated in Sweden. Reference Link
|Over a month ago|
Volvo AB price target lowered to SEK 126 from SEK 166 at RBC Capital » 10:5504/2704/27/20
RBC Capital analyst Tom…
RBC Capital analyst Tom Narayan lowered the firm's price target on Volvo AB to SEK 126 from SEK 166 and keeps a Sector Perform rating on the shares. The analyst reduced forecasts following Q1 results, but believes "the company's balance sheet is strong," and expects "investors could get constructive once net order intake levels turn positive once again."
Volvo AB price target raised to SEK 118 from SEK 113 at UBS » 12:5104/2404/24/20
UBS analyst Guillermo…
UBS analyst Guillermo Peigneux Lojo raised the firm's price target on Volvo AB to SEK 118 from SEK 113 and keeps a Neutral rating on the shares. The analyst feels that key questions remain about the "depth of Q2 trough, and steepness of recovery thereafter."
Volvo AB price target lowered to SEK 125 from SEK 130 at JPMorgan » 10:3804/2404/24/20
JPMorgan analyst Jose…
JPMorgan analyst Jose Asumendi lowered the firm's price target on Volvo AB to SEK 125 from SEK 130 and keeps a Neutral rating on the shares.
UAW official says Ford shooting for May 4 restart in Kentucky, Auto News reports » 14:3004/1604/16/20
F, MGA, FCAU, HMC, TM, VLVLY, HYMTF
A UAW official said Ford…
A UAW official said Ford Motor (F) is targeting May 4 to restart assembly lines in at least one U.S. plant in Kentucky, reported Automotive News' Michael Martinez. May 4 is also the date of planned U.S. plant reopenings for Fiat Chrysler (FCAU), Honda (HMC), Hyundai (HYMTF), Volvo (VLVLY), Toyota (TM) and supplier Magna (MGA), the report noted. Reference Link
|Over a quarter ago|
Volvo AB price target lowered to SEK 130 from SEK 165 at JPMorgan » 12:2803/3003/30/20
JPMorgan analyst Jose…
JPMorgan analyst Jose Asumendi lowered the firm's price target on Volvo AB to SEK 130 from SEK 165 and keeps a Neutral rating on the shares.
Volvo AB upgraded to Conviction Buy from Buy at Goldman Sachs » 20:1202/0602/06/20
Goldman Sachs analyst…
Goldman Sachs analyst Daniela Costa upgraded Volvo AB to Conviction Buy from Buy with a price target of SEK 200, up from SEK 196. The analyst notes that the stock has performed in line with its sector over the past 12 months even though the company has shown margin resilience during the seasonally weak Q4 thanks to its cost discipline efforts. Costa also believes that the management may announce special dividends in the coming years with the truck ordering cycle nearing a trough in North America.
Informa Markets to hold a conference 09:3802/0402/04/20
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Volvo AB receives order for 60 high-capacity electric buses » 05:5601/3101/31/20
Volvo Buses has signed…
Volvo Buses has signed another large order for electrified buses. Nobina has placed an order for 60 high-capacity electric buses which will enter service in Malmo next year. The electric high-capacity buses ordered by Nobina in Malmo are of the Volvo 7900 Electric Articulated model, which was launched in autumn 2019. They can carry up to 150 passengers and are 80 per cent more energy-efficient than corresponding diesel models. Their batteries can be quick-charged via OppCharge stations located on the bus route, or they can be charged when the buses are parked in the depot.
Volvo AB reports Q4 EPS SEK 3.27 vs. SEK 1.26 last year » 05:5501/3001/30/20
Reports Q4 revenue SEK…
Reports Q4 revenue SEK 105.4B vs. SEK 105.8B last year. "2019 was another good year for the Volvo Group. We grew net sales by 11% to SEK 432B and improved our adjusted operating income to SEK 47.9B (40.7), with a margin of 11.1% (10.4). During the year we also continued to increase our financial strength. With an operating cash flow of SEK 38.3B, we ended the year with a net cash position of SEK 62.6B in the Industrial Operations, excluding pension and lease liabilities. Our increased profitability and strong financial position allow us to invest in our future as well as return cash to our shareholders," says Martin Lundstedt, President and CEO.