|Bid||12.43 x 3000|
|Ask||12.78 x 4000|
|Day's Range||12.67 - 12.85|
|52 Week Range||6.00 - 16.25|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||5.48|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||16.22|
Fiat Chrysler (FCAU) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Tenneco Inc. (NYSE: TEN) will participate in the Gabelli 44th Annual Automotive Symposium to be held virtually on Tuesday, November 3, 2020. The webcasted presentation is scheduled to begin at 11:00 a.m. Eastern. Brian Kesseler, chief executive officer, and Matti Masanovich, chief financial officer, will give a strategic overview and provide information regarding matters impacting Tenneco's outlook.
(Bloomberg Opinion) -- Founders who want to list their company in Europe while retaining control usually have a shortlist of one bourse: Amsterdam.The Dutch capital’s stock exchange promises the flexibility of London with an added perk: It allows dual classes of stock in its benchmark indexes, meaning the biggest shareholders can keep control of the voting shares even as their financial interest is diluted. It’s a practice that’s helped attract Fiat Chrysler Automobiles NV, tech giant Prosus NV, drinks maker Davide Campari-Milano NV and, significantly, Altice Europe NV, which owns French carrier SFR.That’s significant, because Altice’s billionaire founder, Patrick Drahi, may be going too far in exploiting that particular attraction of the Dutch market. Last month, Drahi announced a 2.5 billion-euro ($2.9 billion) deal to buy out the half of the telecoms company that he doesn’t already own. It was an opportunistic move, given that Altice shares lost around half of their value during the pandemic from a February peak. Minority investors felt understandably short-changed. On Oct. 1, one of them, the hedge fund Lucerne Capital, addressed a letter of concern to the board. Drahi hasn’t responded publicly to the missive. Should they not receive a satisfactory response, Lucerne has left all options open, including legal avenues.As it stands, the takeover bid requires 95% approval from investors. If, as seems likely, Drahi fails to secure enough support, one option he has would be to seek a triangular merger, where Altice is folded into a holding company owned by Drahi. Such a move would allow him to buy out the minority shareholders with approval from a majority of votes, not capital — and he controls the voting shares. Such structures are not uncommon.This is where it could get interesting. Were he to attempt this kind of merger, minority shareholders such as Lucerne would have good reason to appeal to a court in Amsterdam called the Enterprise Chamber. It has a wide remit to protect the interests of all shareholders, and can, after an investigation, act quickly by suspending a director or transferring shares to a trustee, for instance, effectively blocking the deal.Typically, the court might have little reason to protect minority shareholders against the actions of the investor who controls the voting stock. After all, investors were hitching themselves to the strategic vision of the founder or controlling shareholder — and everything that comes with that, including cheaper stock. So, the argument goes, tough tomatoes, suck it up.But this situation, if it gets that far, would be a little different, because it wouldn’t pertain to strategic management decisions. It instead would look at whether minority shareholders were being cut out of Altice’s potential future value creation. This could offer scope for the Enterprise Chamber to rule against Drahi(1).That sort of ruling would have broad implications, particularly if ratified by the country’s supreme court. By highlighting the ability of a small court to impose measures unilaterally, such a precedent could make founder-CEOs think twice about listing in Amsterdam.“These cases make things real,” says Tim Stevens, a partner at the law firm Allen & Overy in Amsterdam who has no role in the transaction. “When companies want to list somewhere on the continent, and the Netherlands looks nice, whatever happens in a case like this has ramifications for that.”The Netherlands has become a haven for Silicon Valley-style founders trying to keep control of their companies. One founder pushing his luck could cast a pall over the party.(1) There is precedent for this. The Enterprise Chamber sought to block ABN Amro's sale of La Salle to the then Bank of America in 2007, but was overturned by the Dutch Supreme Court.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Tenneco (NYSE: TEN) will report its third quarter 2020 financial results before the market opens on Monday, November 2, 2020 and host a webcast conference call the same day at 10:00 a.m. ET. The purpose of the call is to discuss the Company's financial results for the third quarter 2020, as well as to provide other information regarding matters that may impact the Company's outlook.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
(Bloomberg) -- Hon Hai Precision Industry Co. unveiled plans to expand its nascent automobiles business as the Taiwanese electronics giant seeks to offset slowing growth in its core consumer electronics assembly business.On Friday, it announced its first electric vehicle chassis as well as a software platform that is aimed at helping EV makers deliver models to the market faster. The company also outlined plans to release a solid-state battery by 2024 that could potentially displace the more commonly used lithium-ion batteries in electric vehicles.Chairman Young Liu, who took over from founder Terry Gou in July 2019, has turned to the emerging automotive, robotics and medical applications sectors to boost profitability amid plateauing growth in smartphone units in recent years. Apple Inc. still accounts for about 50% of overall sales of Hon Hai, also known as Foxconn Technology Group, but the company is seeking to diversify from its role as the assembler of consumer electronic goods like Macbooks and Sony Playstations.The company is targeting a 10% share of the EV market by as early as 2025, with around 3 million vehicles using its platform, Liu told reporters on Friday.Hon Hai said earlier this year it will create a joint venture with Fiat Chrysler Automobiles NV to develop and make electric vehicles in China. It is also forging a partnership with Hua-Chuang Automobile Information Technical Center, a unit of the Yulon group, to design electric cars. The Taiwanese company currently supplies some components to Tesla Inc.The company’s self-driving technology is already being used in some airport shuttles in Japan, executives said Friday.In 2019, Hon Hai generated close to NT$9.5 billion ($330 million) in sales from automotive components. The company is hoping automotive and other new business can help boost its gross margin to 10% by 2025.Read more: Race for Next-Generation Battery Supremacy Has an Early LeaderFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
As Native American communities continue to grapple with the on-going COVID-19 pandemic, preparing for both winter and another potential spike in cases, grassroots organization Protect Native Elders has been busy delivering PPE with the help of partners like Fiat Chrysler Automobiles (FCA).
The auto union said FCA would invest in a state-of-the-art vehicle platform that will enable the assembly of plug-in hybrid and battery electric vehicles, with at least one new model in 2025. The announcement comes less than a month after Unifor said Ford Motor Co would invest C$1.95 billion ($1.46 billion) in its Oakville and Windsor plants.
Fiat Chrysler Automobiles NV will invest between $1.35 billion and $1.5 billion in its Windsor assembly plant in Canada to build electric vehicles as part of a tentative deal with Canadian autoworkers, Unifor National President Jerry Dias said on Thursday. The auto union said FCA would invest in a state-of-the-art vehicle platform that will enable the assembly of plug-in hybrid and battery electric vehicles, with at least one new model in 2025. "Not only is Fiat-Chrysler maintaining the current portfolio but they will be investing three derivatives to enhance the current portfolio," Dias said.
|Upgrade||Redburn: Neutral to Buy||6/22/2020|
|Reiterates||CFRA: to Buy||2/26/2020|
|Upgrade||Evercore ISI Group: In-Line to Outperform||12/18/2019|
|Upgrade||Exane BNP Paribas: Neutral to Outperform||11/12/2019|
|Upgrade||HSBC: Hold to Buy||11/4/2019|
|Upgrade||Redburn: Sell to Neutral||11/1/2019|