18.02 -0.90 (-4.76%)
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|Bid||18.85 x 800|
|Ask||18.23 x 800|
|Day's Range||18.49 - 19.06|
|52 Week Range||18.49 - 7,290.00|
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Swedish auto tech company Veoneer said on Monday it intends to raise cash for working capital through an offering of its common stock and convertible senior notes. The company plans concurrent offerings of $350 million of shares of common stock and $150 million aggregate principal amount of convertible senior notes due 2024, it said in a statement. The electronic car products maker said in April that it would seek up to $500 million in new capital to help it cope with a downturn in the vehicle market and fund new product development.
Amid an overall market correction, many stocks that smart money investors were collectively bullish on tanked during the fourth quarter. Among them, Amazon and Netflix ranked among the top 30 picks and both lost more than 25%. Facebook, which was the second most popular stock, lost 20% amid uncertainty regarding the interest rates and tech […]
Sweden's Veoneer said on Monday it would seek up to $500 million in new capital to help the maker of electronic car products cope with a downturn in the vehicle market and fund new product development. Shares in the company, which makes radars, visions systems, advanced driver assistance software and autonomous drive software that will benefit from driverless vehicle development, had fallen by 14 percent in Stockholm and New York by 1423 GMT. The company's fund raising would dilute holdings of existing shareholders by up to 17.6 percent, based on its U.S.-listed market capitalisation of $2.34 billion at Friday's close.
In December 2018, Veoneer, Inc. (NYSE:VNE) released its most recent earnings announcement, which signalled company earnings became less negative compared to the previous year's level - great news for...
Sweden's Veoneer expects to gain from a commercial delay in self-driving cars, betting that rising demand for its radar and camera-based systems as the industry ramps up to autonomy will boost its market position. Forecasts on when autonomous vehicles will become a commercial reality have been receding, with most analysts now expecting broad-based adoption to take another decade as accidents in early testing have raised fresh concerns about regulation, technology and cost. Weak car markets, delayed 2020 targets and cash concerns also contributed to a 36 percent drop in Veoneer's stock over the past six months.
With the notable exception of Elon Musk’s Tesla Inc, most automakers have said their self-driving cars will rely on a detection system known as lidar. Pressure to launch self-driving cars is already pushing many players to place bets on the technology. General Motors Co, Ford Motor Co and BMW are expected to deploy sensors from well-funded lidar startups Velodyne and Innoviz on their initial self-driving cars over the next two years.
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Autoliv on Tuesday forecast lower-than-expected organic sales growth this year and pushed back 2020 sales and margin targets, blaming a slowdown in car production and sales and an increase in raw material prices. The world's largest maker of airbags and seat-belts said it was maintaining its targets of reaching more than $10 billion in sales and around 13 percent in adjusted operating margin, but no longer expected to reach them in 2020. "Compared to when we put these targets out in 2017 ... there has been a big (drop) in underlying light vehicle production that requires us to push out the targets somewhat," CEO Mikael Bratt told Reuters.
A Volvo Cars joint venture has won approval to begin hands-free testing of its software for self-driving cars on Swedish highways, partner Veoneer said on Monday. Veoneer said the Zenuity joint venture's software for Level 4 autonomous driving - the second highest level - would be tested in a Volvo car by trained drivers with their hands off the steering wheel at a maximum speed of 80 kilometres per hour (50 miles per hour). U.S. companies are leading the pack, with Google's Waymo last year winning the first approval to test cars without safety drivers on Californian public roads.
Order levels indicate that auto supplier Veoneer Inc (NYSE: VNE ) has gained share in the active safety market, and its 2019 backlog growth potential appears strong, according to Longbow Research. The ...
Swedish high-tech car safety products maker Veoneer has recruited former parent Autoliv's finance chief Mats Backman as its new Chief Financial Officer, it said in a statement on Tuesday. Backman replaces ...
Sweden's Veoneer saw strong demand in the final months of the year which helped it achieve a record high order intake in 2018, up by around 40 percent from 2017, the auto parts supplier said on Tuesday . "I am pleased with our order intake for 2018. It marks the third consecutive year of strong order intake growth," Chief Executive Jan Carlson said in a statement.
Veoneer finance chief Mathias Hermansson has decided to leave the company having assumed the post only in April when the electronic car products maker was spun out of parent Autoliv . The move comes less ...
Veoneer said on Thursday its finance chief Mathias Hermansson had decided to leave the company, having assumed the post only in April when the electronic car products maker was spun out of parent Autoliv ...