U.S. Markets closed

Honda (HMC) to Stop Auto Production in Argentina From 2020

Zacks Equity Research

Honda Motor Co., Ltd. HMC is set to stop automobile production in Argentina in 2020, per Reuters. This move is part of its plan of reorganizing automobile production across the globe and has no relation with the primary election results in the Latin American country.

The Japan-based auto giant began motorcycle production in Argentina in 2006 and started automobile production in 2011. From next year, the Campana plant in the province of Buenos Aires will solely concentrate on motorcycle production and will stop producing the HR-V auto model.

Honda is a leading manufacturer of automobiles and the largest producer of motorcycles in the world. In the first quarter of fiscal 2020, the company reported operating profit of ¥252.4 billion, down 15.7% from the year-ago period. The decline in operating profit can be attributed to high selling, general and administrative expenses, adverse impacts of foreign currency, and decreased sales revenues. These negative factors were partly offset by continuous cost-reduction efforts.

Honda Argentina employs 1,000 people. The company is trying to offer buyouts for the employees engaged in automobile production.

Honda generates the majority of revenues in the automobile division from the markets in North America and Japan. Countries in Asia — including China, India, Indonesia, Korea, Malaysia, Pakistan, the Philippines, Singapore, Taiwan, Thailand and Vietnam remain major contributors to revenues for the motorcycle segment.

Currently, Honda has an expected long-term growth rate of 6.9%.

Some important stocks in the auto space are Fox Factory Holding Corp FOXF, CarMax, Inc. KMX and Gentex Corporation GNTX. These companies have expected long-term growth rates of 16.7%, 12.6% and 5%, respectively.

Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.

See these 7 breakthrough stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
CarMax, Inc. (KMX) : Free Stock Analysis Report
 
Fox Factory Holding Corp. (FOXF) : Free Stock Analysis Report
 
Honda Motor Co., Ltd. (HMC) : Free Stock Analysis Report
 
Gentex Corporation (GNTX) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

  • U.S.
    TheStreet.com

    Is the Stock Market Open on Martin Luther King Jr. Day?

    Martin Luther King Jr. Day was first signed into law in 1983, and first officially observed as a holiday in 1986. Generally observed on the third Monday of January (close to or on King's actual birthday, January 15), MLK Day celebrates the life and legacy of one of America's most well-known and influential activists, who fought for racial and economic justice across the country. Martin Luther King Jr. Day, falling on January 20 this year, is a federal holiday, and not every worker in the country necessarily gets a day off of work for it (45% of employers gave workers the day off in 2019).

  • What's the Average 401(k) Balance by Age?
    Business
    Investopedia

    What's the Average 401(k) Balance by Age?

    It can be hard to determine exactly how much you'll need for your own post-career days, but finding out how others are planning—or not—can offer a benchmark for setting goals and milestones. k) Plan Balances by Generation The good news is that Americans have been making an effort to save more. According to Fidelity Investments, the financial services firm that administers more than $7.4 trillion in assets, the average 401(k) plan balance reached $106,000 in the second quarter of 2019.

  • Will you ‘feel pretty stupid’ holding cash? One trader revisits Ray Dalio’s laughable call and warns of a similar drop
    Business
    MarketWatch

    Will you ‘feel pretty stupid’ holding cash? One trader revisits Ray Dalio’s laughable call and warns of a similar drop

    Almost exactly two years ago, investing legend Ray Dalio turned heads with one of the worst short-term market calls in recent memory. The Bridgewater Associates founder, in an interview at the World Economic Forum back in January 2018, told investors that they were going to “feel pretty stupid” if they were holding cash as stocks climbed toward record highs. So, how stupid did they feel?

  • 3 “Strong Buy” Biotech Stocks That Can Inject a Healthy Dose of Upside
    Business
    TipRanks

    3 “Strong Buy” Biotech Stocks That Can Inject a Healthy Dose of Upside

    To watch Selvaraju's track record, click here) The Street appears equally confident in IMMU's future potential; 4 Buy ratings add up to a Strong Buy consensus rating. With an average price target of $28, the analysts believe Immunomedics can add 47% to its share price over the coming year. See Immunomedics stock analysis on TipRanks) Revance Therapeutics (RVNC) After a disappointing 2019, which saw Revance's share price drop by more than 18%, the neuromodulator-focused biotech has started 2020 with a bang; Revance stock is up by 38% year-to-date.

  • Tesla moves a step closer to opening first European factory with German property deal
    World
    Reuters

    Tesla moves a step closer to opening first European factory with German property deal

    U.S. electric car pioneer Tesla has agreed to buy a property on the outskirts of Berlin, bringing it a step closer to opening its first European factory, local authorities said on Sunday. The U.S. carmaker last November announced plans to build a giant factory in Gruenheide, in the eastern German state of Brandenburg, giving it the coveted "Made in Germany" label just as local rivals prepare to launch competing models. Tesla's board of directors approved a purchase agreement with the state of Brandenburg on Saturday to acquire a 300-hectare property, Brandenburg government spokesman Florian Engels said in a statement.

  • Value stocks are making a comeback, and here’s how to get in early
    Business
    MarketWatch

    Value stocks are making a comeback, and here’s how to get in early

    I believe that is unlikely to continue,” says Joel Greenblatt, the co-chief investment officer at Gotham Funds. was the worst year since 1999 for the strategy of buying cheap stocks and shorting expensive stocks (the top quintile for each), Greenblatt says. The last time this strategy experienced such extremely poor results, value put in three great years of performance, from 2000-2002.

  • 42% of people say this is why they aren't investing in the stock market
    Business
    Yahoo Finance

    42% of people say this is why they aren't investing in the stock market

    A recent JPMorgan Chase survey of about 1,200 investors and non-investors says it boils down to liquidity. The survey found that 42% of those who weren't investing yet were staying out of the stock market because they believed they didn't have enough money to invest. Kelli Keough, digital wealth management head at JPMorgan Chase, tells Yahoo Finance's “The First Trade” non-investors, those who are not in the stock market, say it's a struggle to save enough money to invest.

  • From a U.S. stock surge to a bursting of China’s triple bubble, here are 10 possible shockers for 2020, according to Credit Suisse
    Business
    MarketWatch

    From a U.S. stock surge to a bursting of China’s triple bubble, here are 10 possible shockers for 2020, according to Credit Suisse

    Three weeks into the new year and there really haven't been that many surprises. Stocks keep reaching new records, and companies with what one could charitably say are elevated valuations, like plant-based food company Beyond Meat and car maker Tesla, are back in fashion. A brief flare-up of tensions in the Middle East seems to have been quickly relegated to history.

  • Business
    Benzinga

    Barron's Picks And Pans: Apple, Boeing, Disney, Tesla And More

    Barron's Roundtable panelist Rupal Bhansali's makes a case that Apple Inc. NYSE: AAPL) is disadvantaged on many fronts and trying to play catch-up in "Time to Short Apple, Says Rupal Bhansali. Yes, Short Apple."

  • Prince Harry Says He and Meghan Markle Hoped to Continue Royal Duties, but 'That Wasn’t Possible'
    News
    Meredith Videos

    Prince Harry Says He and Meghan Markle Hoped to Continue Royal Duties, but 'That Wasn’t Possible'

    Prince Harry said Sunday that he felt “great sadness” but found “no other option” to cutting almost all of his and his wife Meghan's royal ties in the hopes of achieving a more peaceful life.

  • 3 Monster Growth Stocks That Can Rip Higher in 2020
    Business
    TipRanks

    3 Monster Growth Stocks That Can Rip Higher in 2020

    The impressive share gains are bolstered by a strong financial performance. MTZ last reported earnings at the beginning of November, and easily beat the EPS forecasts and the year-ago numbers. For revenue, MTZ reported $2.02 billion, which missed the forecast but was still up 2% year-over-year.

  • What interest rates dating back to 1311 tell us about today’s global economy
    Business
    Quartz

    What interest rates dating back to 1311 tell us about today’s global economy

    Interest rates sure are weird these days. Five central banks currently hold policy rates negative; several are dabbling with unconventional bond-buying. The one bank that tried to raise them, the Federal Reserve, found itself back cutting rates within a year.

  • Business
    Oilprice.com

    Is This The End For Big Oil Dividends?

    The largest publicly-traded oil companies in the world have been “living beyond their means” for years. Since 2010, the five largest oil majors have spent vastly more than they have generated when including shareholder payouts. ExxonMobil, BP, Chevron, Total, and Royal Dutch Shell have dished out a combined $536 billion in dividends and share buybacks since 2010, a figure that far exceeds the $329 billion in free cash flow over the same period, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA).

  • ‘I’m 22 with $70,000 in savings and investments, but I’m addicted to checking my brokerage accounts multiple times a day’
    Business
    MarketWatch

    ‘I’m 22 with $70,000 in savings and investments, but I’m addicted to checking my brokerage accounts multiple times a day’

    I do not want to live like that. I am addicted. I check my brokerage accounts multiple times a day and my mood is greatly affected by how the markets are doing.

  • Oil Jumps After Unrest Hits Key OPEC Producers Iraq and Libya
    World
    Bloomberg

    Oil Jumps After Unrest Hits Key OPEC Producers Iraq and Libya

    Oil jumped back above $65 a barrel as supply disruptions in Iraq and Libya reignited concerns over the market's vulnerability to geopolitical risk in key production regions. Futures rose more than 1.7% in London and New York after Libya's oil production almost ground to a halt as armed forces closed a pipeline, shuttering output from the nation's biggest oil project. Meanwhile in Iraq, output stopped at a field on Sunday, with supply from a second site threatened as unrest escalates in OPEC's second-biggest producer.

  • Dramatic video, truck crashes offroad near trooper
    U.S.
    Associated Press Videos

    Dramatic video, truck crashes offroad near trooper

    Officials in the US state of Iowa are urging people to use caution and stay indoors if possible as blizzard conditions continued to wreak havoc in northern and central parts of the state on Saturday. Jan.

  • Business
    Oilprice.com

    China’s Cheap Electric Vehicles Could Disrupt Global Markets

    While Western automakers race to capture market share in the world's biggest electric car market, China, hundreds of Chinese electric vehicle (EV) makers have sprung up in recent years to snag a piece of the EV pie too. Government support to the Chinese EV industry and China's ambitions to have new energy vehicles (NEVs) sales account for a quarter of car sales in 2025 means that the Chinese authorities want the EV industry in the country to flourish—and some think this ambitious target would require both Western and Chinese EV makers. Western analysts, however, warn that a Chinese EV oversupply could lead to cut-price exports of China's electric cars, potentially distorting and pressuring the auto industries in other countries, and potentially setting the stage for the next U.S.-China trade war front—electric vehicles.

  • Man who made a killing during financial crisis says that, at some point, the stock market will slow down — but, till then, ‘I love riding a horse that’s running’
    Business
    MarketWatch

    Man who made a killing during financial crisis says that, at some point, the stock market will slow down — but, till then, ‘I love riding a horse that’s running’

    The U.S. stock market has enjoyed a nearly uninterrupted assault on records, highlighted by the Dow Jones Industrial Average (DJIA) closing at a milestone above 29,000 for the first time and the S&P 500 (SPX) achieving its own landmark close above the psychological round-number at 3,300, while investors in the Nasdaq Composite Index (COMP) may have their sights trained on 10,000.

  • Business
    Barrons.com

    Big Buys of Intel, AT&T, and Facebook Stock by Norway’s Biggest Bank

    Norway's largest financial-services group, DnB, made some big changes in its U.S.-traded stock investments in the last quarter of 2019. DnB more than tripled its investment in (INTC) stock (ticker: INTC) and cut its investment in rival (AMD) (AMD) nearly in half. The bank also bought substantially more (T) stock (T) and (FB) stock (FB).

  • How and when prudent investors ought to buy these 5G stocks
    Business
    MarketWatch

    How and when prudent investors ought to buy these 5G stocks

    Chart Please click here for an annotated chart of Nokia (NOK) Note the following: • The chart shows the times when Nokia was highly touted as a 5G stock. During that period, I regularly received inquiries from investors as to why The Arora Report was not recommending Nokia. Some investors were thinking we were not up to snuff as we were missing out on the great opportunity to buy Nokia.

  • Morgan Stanley’s Top-Performing Fund Buys Undervalued Stocks
    Business
    Bloomberg

    Morgan Stanley’s Top-Performing Fund Buys Undervalued Stocks

    The Wall Street firm's Asia Opportunity Fund, which focuses on equities in the region excluding Japan, returned 44% in the past year, beating 99% of its peers, according to data compiled by Bloomberg. The portfolio focuses on undervalued companies with low debt or net cash on their balance sheets, many of which are found in consumer sectors, said Kristian Heugh, who has been co-managing the fund since its inception in 2016. “We seek to protect investors' capital by focusing on high quality companies with sustainable competitive advantages and purchasing them at a discount to our estimate of intrinsic value,” Heugh said.

  • Should Your Required Minimum Distribution Be in Cash?
    Business
    Investopedia

    Should Your Required Minimum Distribution Be in Cash?

    Should you take your RMD by getting the cash or transferring the stock to another account? According to Michael J. Garry, managing member and chief compliance officer at Yardley Wealth Management, it doesn't matter for tax purposes. "There is usually little, if any, tax efficiency added by taking in-kind distributions instead of cash.

  • Business
    Reuters

    McDermott International may file for bankruptcy as soon as next week - Bloomberg

    Oilfield services provider McDermott International Inc is preparing to file for bankruptcy as soon as next week, Bloomberg reported on Friday, citing people with knowledge of the matter. The company did not immediately respond to a request for comment by Reuters. McDermott is discussing a restructuring plan in which its debt could be converted into equity, with its group of lenders getting the majority of the shares, the report said.

  • Dow Jones Futures: Stock Market Rally Faces Next Test; Netflix, Texas Instruments Earnings Due
    Business
    Investor's Business Daily

    Dow Jones Futures: Stock Market Rally Faces Next Test; Netflix, Texas Instruments Earnings Due

    Dow Jones futures edged lower Sunday night, along with S&P 500 futures and Nasdaq futures. Earnings season is the next big test for the fast-running stock market rally, with Netflix stock and Texas Instruments stock in focus Tuesday night. The stock market rally has run on optimism for stronger growth in 2020 from Apple, FANG stocks Facebook, Amazon.com, Netflix and Google-parent Alphabet and a broad chip industry recovery.

  • Tesla Hits All-Time High Before Being Downgraded: Where to Now?
    Business
    TipRanks

    Tesla Hits All-Time High Before Being Downgraded: Where to Now?

    So, where is Tesla headed? This week, analysts have been throwing the hat in, offering takes on the electric vehicle company from all possible angles, with the most recent rating being a downgrade. In this article, we'll take a look at three different ratings from the analysts.