|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||15.53 - 15.67|
|52 Week Range||12.06 - 18.29|
|Beta (3Y Monthly)||1.52|
|PE Ratio (TTM)||10.22|
|Forward Dividend & Yield||1.08 (6.91%)|
|1y Target Est||N/A|
Johnson Matthey on Wednesday lowered the profit outlook for its largest unit that makes pollution filters for cars and trucks and announced the departure of the unit's head, sending its shares down more than 3%. Shares of the FTSE 100 company was the biggest loser on London's blue-chip index. The moves follow scrutiny of Johnson Matthey's catalytic filters for trucks, which have been linked to emission issues at truckmakers Volvo and Cummins.
Swedish truckmaker AB Volvo's first commercial autonomous truck deal shows how it is bundling services to generate revenue from a technology that is years away from wide deployment. Volvo, the world's second biggest truckmaker behind Daimler, has decided for now to only deploy driverless trucks in pilots for customers, aiming to perform specific jobs on a limited, repetitive and controlled route, often on enclosed customer sites. "There's a lot of uncertainties and that's why we believe the right way to develop autonomous is with commercial pilots where we partner up with customers, go for real implementations and learn from that," Sasko Cuklev, Volvo Trucks' autonomous solutions director, told Reuters in an interview.
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.
Volvo Trucks North America is burnishing its image in climate change-conscious California. The Swedish truck maker is developing battery-electric versions of its VNR regional haul trucks for use in drayage ...
The Volvo Group report for the second quarter 2019 will be published on July 18th, 2019 at 7.20 a.m. CEST. GÖTEBORG, Sweden , July 4, 2019 /PRNewswire/ -- Press and Analysts Conference 9.00 a.m. CEST A ...
Volvo Trucks announced a six-year expansion project at its New River Valley (NRV) manufacturing facility in New River Valley, Virginia. The $400-million investment will include 777 new jobs being created ...
(Bloomberg) -- Volkswagen AG’s trucks unit fell on its first day of trading as investors took a cautious stance on its global expansion plan, which includes boosting its U.S. footprint and going head-to-head with market leaders Daimler AG and Volvo Group.Traton SE declined as much as 2.4% to 26.36 euros after its initial public offering priced at 27 euros, the bottom of the range. Volkswagen raised 1.55 billion euros ($1.8 billion) from listing a stake of about 11.5% in a transaction that values the German auto giant’s truck unit at 13.5 billion euros.Other recent industrial stock offerings have fared better. German commercial vehicles brakes maker Knorr-Bremse AG has gained 21% since its IPO in October, tracked by Swiss train maker Stadler Rail AG’s performance after listing in April.A completion of the sale, one of Europe’s biggest this year, is still a sea change in the Wolfsburg-based company’s effort to streamline its sprawling empire after a decade of rapid expansion. Over the years, Volkswagen added Porsche, Bentley luxury cars, Ducati motorcycles and heavy truck brands. In the age of electric and self-driving vehicles, the cumbersome structures that have grown around a network of well over 100 factories are slowing decision-making and causing the company to risk falling behind.VW’s byzantine governance with a powerful labor council and complex ownership structure has often stood in the way of deeper changes in recent years. A plan to sell Ducati was derailed in 2017 because of internal resistance, making Traton’s IPO a milestone for Chief Executive Officer Herbert Diess and trucks head Andreas Renschler, who bought 540,000 euros worth of Traton shares.VW could use Traton’s IPO proceeds to expand the division’s footprint in North America -- the truck industry’s largest profit pool -- where the carmaker holds a 16.8% stake in Navistar International Corp. Renschler has said he wants to expand on a leading position in Europe and Latin America with future potential moves on acquisitions and alliances to grow into a global truckmaker.Analysts have speculated on a buyout of Navistar after Traton’s listing, with Bloomberg Intelligence analyst Christopher Ciolino calling a deal “a likely outcome.” In a report last month, he wrote that Navistar could command an equity value of as much as $5.3 billion, while the market may start to weaken in the fourth quarter.The listing was a “big step” forward for Traton’s strategy, Renschler said, speaking at the Frankfurt stock exchange. The company is also listed in Stockholm, home to the truckmaker’s Scania brand, its biggest profit contributor.The stock was at 26.49 euros as of 3:18 p.m. in Frankfurt, while Bharti Airtel Ltd.’s Africa unit, which also started trading Friday, declined 13% after also pricing its offer at the low end of its range.“The market is what it is,” Scania CEO Henrik Henriksson said in an interview. “The important thing for us is that we have a strategy and a plan that we believe wholeheartedly in.”Traton’s stock will be tracked by investors as a peer to Sweden’s Volvo, the only standalone commercial-vehicle manufacturer in Europe that competes with a similar product range. Led by former Scania chief Martin Lundstedt, Volvo set the bar high with a successful restructuring that boosted returns within three years. At VW, the MAN truck unit has made only tepid progress in recent years on lifting profit margins.The European market for trucks is expected to soften during the second half of the year, Jefferies analyst Graham Phillips said in a note this week, noting Volvo’s decision to reduce a summer production shift. Heavy-truck registrations in May were “stronger than expected,” helped by one-off effects like pre-buying ahead of a digital tachograph requirement that took effect this month.Volkswagen CEO Diess, in the job for just over a year, is renewing the push to lift the company’s poor valuation by becoming less centralized. Increasing the valuation will be key “currency” in the industry’s phase of consolidation and partnerships in the shift to electric and self-driving cars, he said at a recent meeting of top management. The company trades at a price-to-earnings multiple of 6.4 times, compared with Germany’s Dax Index at 16.2.VW is a behemoth that sprawls across 122 factories worldwide with some 650,000 employees. The company has started to review strategic options including a possible sale of other non-auto businesses, including transmissions maker Renk AG and MAN Energy Solutions, which produces large diesel engines for ships and turbines. It’s also open to sell more Traton shares.Aside from the Navistar holding, Traton owns a 25% stake Sinotruk Hong Kong Ltd. in China, while Daimler and Volvo both have local production ventures. Traton wants to expand the MAN brand’s presence in China and is developing a dealer network for Scania in the country, Renschler said in a Bloomberg TV interview. “We see the potential for European trucks in China is really growing,” he said.(Adds truck chief comment from Bloomberg TV interview in last paragraph.)\--With assistance from Swetha Gopinath, Oliver Sachgau, Niclas Rolander and Phil Serafino.To contact the reporter on this story: Christoph Rauwald in Frankfurt at email@example.comTo contact the editors responsible for this story: Kenneth Wong at firstname.lastname@example.org, Elisabeth Behrmann, Chris ReiterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
AB Volvo (VLVLY) seems to be a good value pick, as it has decent revenue metrics to back up its earnings, and is seeing solid earnings estimate revisions as well.
GÖTEBORG, Sweden , June 28, 2019 /PRNewswire/ -- The number of votes in AB Volvo has changed due to the conversion of a total of 750,000 Series A shares to a total of 750,000 Series B shares. The conversions ...
U.S. companies' borrowing to spend on capital investments rose 18% in May from a year earlier, the Equipment Leasing and Finance Association (ELFA) said. Companies signed up for $9.1 billion in new loans, leases and lines of credit last month, up from $7.7 billion a year earlier. "The continued low interest rate environment, coupled with solid fundamentals in the U.S. economy, provide incentive for U.S. businesses to expand and grow their operations," ELFA Chief Executive Officer Ralph Petta said.
China-based Zhejiang Geely Holdings is tapping Zenuity, the joint venture between Volvo and Swedish technology company Veoneer, as its preferred driver assistance and autonomous vehicle software supplier for its range of car brands. The decision means Zenuity's software will likely end up in vehicles under the brands Geely Auto, Geometry, Volvo Cars, performance brand Polestar, British carmaker Lotus and the subscription-based automaker Lynk & Co. Geely Holdings' total group sales last year were 2.15 million vehicles, according to the company.
China's Geely has chosen Zenuity, a joint venture between its Volvo car marque and Swedish technology group Veoneer , as its preferred supplier for assisted and self driving software. Geely's deal, encompassing car brands including Geely Auto , performance brand Polestar, subscription-based electric carmaker Lynk & Co and British sports car maker Lotus, provides a welcome boost for Zenuity. Veoneer said in April it was carrying out a review of Zenuity, which is focused on developing software for assisted driving features (ADAS) such as lane keeping and autonomous driving (AD), and seeking efficiencies from the venture.
Nvidia Corp. and Volvo Group team up to go against the likes of Tesla Inc., Alphabet Inc. and others developing the commercial vehicles of the future.
China's Geely has chosen Zenuity, a joint venture between its Volvo car marque and Swedish technology group Veoneer, as its preferred supplier for assisted and self driving software. Geely's deal, encompassing car brands including Geely Auto, performance brand Polestar, subscription-based electric carmaker Lynk & Co and British sports car maker Lotus, provides a welcome boost for Zenuity. Veoneer said in April it was carrying out a review of Zenuity, which is focused on developing software for assisted driving features (ADAS) such as lane keeping and autonomous driving (AD), and seeking efficiencies from the venture.
The Volvo Group and Nvidia Corporation (NASDAQ: NVDA) have announced a joint partnership to develop artificial intelligence (AI) for self-driving trucks. Work will begin immediately in Gothenburg, Sweden and Santa Clara, California. The announcement comes a week after Volvo, the world's second-largest truck maker after Daimler, said its self-driving truck "Vera" would begin transporting goods from a logistics center to a port terminal in Gothenburg in collaboration with logistics firm DFDS.
Trucking is the backbone of the economy; it's also in peril. Startups and OEMs are scrambling to come up with the solution. We’ll debate whether autonomous trucks are the fix we need or if another near-term technology can pave the way to a more efficient and profitable industry.