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Fly News Breaks for April 2, 2019
Apr 2, 2019 | 08:55 EDT
The prospect of mergers in the automotive manufacturer space "tends to create excitement given how overdue it is," Jefferies analyst Philippe Houchois tells investors in a research note. Among the combinations being speculated in the press, the analyst views the logic and feasibility of a Fiat Chrysler (FCAU)/Peugeot (PUGOY) deal as "overwhelming." He rates both stocks a Buy. On the other hand, Houchois sees "limited rationale" in combining BMW (BMWYY) and Daimler AG's (DDAIF) Mercedes "as the challenge is to redefine, not bulk up, premium." Further, the analyst is not sure Volkswagen (VWGAY) can execute given its "governance/balance sheet." He downgrades the shares to Hold from Buy.
News For FCAU;PUGOY;BMWYY;DDAIF;VWAGY From the Last 2 Days
Sep 18, 2019 | 15:29 EDT
Daimler Trucks & Buses and battery manufacturer Contemporary Amperex Technology,CATL,have entered a global battery cell modules supply agreement for electric series trucks. CATL will supply lithium-ion battery cell modules for a wide range of Daimler Trucks & Buses' global electric truck portfolio to be introduced in markets from 2021 onwards, including the Mercedes-Benz eActros, the Freightliner eCascadia and the Freightliner eM2. The development of the battery systems lies with Daimler Trucks & Buses. Battery pack assembly will be carried out by Daimler Trucks & Buses as well -- at its Mercedes-Benz Mannheim plant in Germany and its Detroit plant in the US.
Sep 18, 2019 | 11:31 EDT
U.S. President Donald Trump said via Twitter that his administration is revoking California's Federal Waiver on emissions "in order to produce far less expensive cars for the consumer, while at the same time making the cars substantially SAFER." The president claimed in several tweets that the move would lead to more production because of a pricing and safety advantage as well as "the fact that older, highly polluting cars, will be replaced by new, extremely environmentally friendly cars. "There will be very little difference in emissions between the California Standard and the new U.S. Standard, but the cars will be far safer and much less expensive," Trump tweeted. "Many more cars will be produced under the new and uniform standard, meaning significantly more JOBS, JOBS, JOBS! Automakers should seize this opportunity because without this alternative to California, you will be out of business." Publicly traded companies in the space 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
Sep 17, 2019 | 15:10 EDT
According to Coral Davenport of the New York Times, the Trump administration is expected to "formally revoke California's legal authority to set tailpipe pollution rules that are stricter than federal rules." The NYT's story refers to the expected move as "designed by the White House to strike twin blows against both the liberal-leaning state that President Trump has long antagonized and the environmental legacy of President Barack Obama." Publicly traded companies in the space 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