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Fly News Breaks for August 14, 2019
CNHI
Aug 14, 2019 | 16:28 EDT
Stephens analyst Ashish Gupta initiated CNH Industrial with an Equal Weight rating and a price target of $10. The analyst notes that the weakness in the company's largest segment - Ag Equipment - has been compounded by the the uncertainty around its management transition. Gupta expects the new CEO to update investors on the company's strategy and margin targets next month, but give the weakness in the Ag cycle, he expects earnings to decline next year.
News For CNHI From the Last 2 Days
CNHI
Sep 16, 2019 | 16:14 EDT
Stocks were lower, and oil prices higher, from the outset of trading following a drone attack on Saudi oil facilities on Saturday that knocked out more than 5% of global oil supply and shelved half of Saudi Arabia's daily export capacity. President Trump warned... To see the rest of the story go to thefly.com. See Story Here
CNHI
Sep 16, 2019 | 12:21 EDT
Paul Singer's Elliott Management has built a below 3% stake in CNH Industrial NV and hopes for constructive engagement with company, Daniele Lepido and Tommaso Ebhardt of Bloomberg report, citing people familiar with the matter. Elliott sees value creation potential in CNH's plan to separate the Iveco truck business from its agricultural machine unit, sources told Bloomberg. The activist's stake in company is valued at around $440M, Lepido and Ebhardt say. Shares of CNH Industrial are little changed at $11.22 following this morning's report of Elliott's stake. Reference Link