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Daimler AG (DDAIF)

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88.15+1.71 (+1.98%)
At close: 3:59PM EDT
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Neutralpattern detected
Previous Close86.44
Bid0.00 x 0
Ask0.00 x 0
Day's Range86.80 - 88.07
52 Week Range28.42 - 89.82
Avg. Volume30,066
Market Cap97.246B
Beta (5Y Monthly)1.66
PE Ratio (TTM)10.00
EPS (TTM)8.82
Earnings DateN/A
Forward Dividend & Yield1.60 (1.89%)
Ex-Dividend DateApr 01, 2021
1y Target Est108.32
  • Bloomberg

    Aston Martin Revenue Tops Estimates as SUV Drives Volumes

    (Bloomberg) -- Aston Martin Lagonda Global Holdings Plc reported better-than-expected sales for the first quarter as the British luxury-car maker gets a significant boost from its first-ever SUV.Revenue soared 153% to 244.4 million pounds ($340 million), beating analysts’ average estimate for 196.7 million pounds. The DBX sport utility vehicle accounted for 55% of the vehicles sold to dealers in the first three months of the year.Aston Martin racked up significant losses after going public in 2018 and has spent the last year restructuring itself after a rescue by Canadian billionaire Lawrence Stroll. The 61-year-old fashion mogul has injected much-needed cash and forged closer ties with Daimler AG’s Mercedes-Benz to ensure the company survives tumultuous times for the auto industry.Soon after taking over as chairman last year, Stroll shook up Aston Martin’s management and brought in Tobias Moers, who previously led Daimler AG’s Mercedes-AMG performance division, as chief executive officer. He also set a target to earn 500 million pounds on 2 billion pounds of revenue by 2025.“On both our short and medium targets, we remain more confident every day,” Stroll said in a phone interview Thursday. “It’s the first true, clean quarter that we have had as the new management team running the business and very indicative of what’s to come.”DBX DerivativesAston Martin plans to expand its portfolio of SUVs as well as introduce hybrid and electric powertrains. Moers said the first derivative model on the DBX platform will launch in the third quarter, with another variant planned for next year.“These are strong results, and while this should have been expected by the market we believe this should support shares as the management turnaround plan continues to gather traction,” Angus Tweedie, an analyst at Citigroup, wrote in a note to clients.Aston Martin’s shares rose as much as 4.7% and were up 2.6% at 8:50 a.m. in London. The stock has almost doubled in the past year.Debut HybridIn October, Aston Martin reached an agreement for Mercedes to supply hybrid and electric components to the U.K. company, building on an engine tie-up that started in 2013. Mercedes will boost its stake in the carmaker from 2.6% to as much as 20% over three years. Aston Martin plans to introduce its first plug-in hybrid model in 2023, Moers said.Deliveries of the 158,000-pound DBX began midway through last year. Average vehicle selling prices improved significantly in the first quarter, driven by strong demand from China and de-stocking of older models. The company expects as much as 40% of volume to come from the U.S. and China in the future, Moers said.Aston Martin will begin shipping the new Valkyrie hypercar in the second half of the year.(Updates with comments from chairman and CEO from the fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Nissan Follows Renault in Selling $1.4 Billion Daimler Stake

    Nissan Follows Renault in Selling $1.4 Billion Daimler Stake

    (Bloomberg) -- Nissan Motor Co. sold its entire stake in Daimler AG for 1.15 billion euros ($1.4 billion), joining its partner Renault SA in generating funds for turnaround efforts.Nissan sold about 16.4 million shares at 69.85 euros each, according to a statement on its website Wednesday. Renault shed its Daimler stake in March, bringing in 1.14 billion euros. Daimler shares closed at 72.41 euros on Tuesday. Like Renault, Nissan is trying to restore profitability and overhaul its portfolio after the 2018 arrest of their long-time leader Carlos Ghosn threw the alliance into disarray. Projects the two companies started with Daimler just over a decade ago were among the endeavors showing signs of stress before Nissan insiders orchestrated the former chairman’s downfall almost three years ago.Nissan said the proceeds from the Daimler stake sale will be used to “further strengthen and enhance its business competitiveness, including investments to promote electrification.” The industrial partnership between Nissan and Daimler “remains unchanged and isn’t impacted by the sale,” the Yokohama, Japan-based automaker said in the statement. The two companies will continue to collaborate in several areas, it said. Several of Ghosn and former Daimler Chairman Dieter Zetsche’s projects to jointly develop and produce vehicles turned into bruising experiences. Mercedes culled the X-Class pickup that was based on the Nissan Navara due to poor sales, and customers mocked the mediocre quality of the small Citan van that shared components with Renault. The collaboration the companies planned for a factory in Aguascalientes, Mexico, also didn’t pan out as initially planned.Ghosn and Zetsche regularly hosted joint press conferences at car shows before Japanese police arrested the former in late 2018 on suspicion of financial misconduct. Zetsche stepped down from his roles at Daimler the following year.Daimler still holds 9.17 million shares of Renault, according to data compiled by Bloomberg.(Adds sale price in second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Reuters

    UPDATE 2-Nissan sells its Daimler stake, following Renault

    Japan's Nissan Motor said on Tuesday it was selling its roughly 1.5% stake in German carmaker Daimler through an accelerated bookbuild offer, following a similar move by alliance partner Renault in March. The French carmaker, with Nissan, had exchanged stakes with Daimler a decade ago to strengthen their industrial partnerships. Cooperation is continuing, Daimler and Renault said earlier this year, although people close to the matter had said larger initial plans never materialised and the cross-shareholdings were no longer deemed necessary.