|Bid||10.09 x 47300|
|Ask||10.10 x 46000|
|Day's Range||10.08 - 10.18|
|52 Week Range||7.41 - 12.05|
|Beta (3Y Monthly)||0.97|
|PE Ratio (TTM)||12.99|
|Forward Dividend & Yield||0.60 (5.94%)|
|1y Target Est||N/A|
When Donald Trump was elected as the US President in 2016, we saw a sharp rally in some stocks, especially in the metals and mining space. Trump’s pro-growth policies and trillion-dollar infrastructure plans were expected to lift US metal consumption.
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.
Zacks.com featured highlights include: Party City, Ford, JinkoSolar, Legg Mason and Greenbrier
Draghi's decision to take a dovish approach comes a day before the Fed’s policy decision. Fed Chair Jerome Powell is also expected to take a dovish stance, but a rate cut this month looks quite improbable.
The Fed's two-day meeting is scheduled to start on June 19. The Fed will release a statement and announce its interest rate decision on the same day. Expert Jim Grant weighs in on the possibility of an interest rate cut.
(Bloomberg) -- Automakers won control over a choice swath of wireless spectrum 20 years ago on the promise of delivering safety innovations to vehicles.Now, after failing to deliver widespread breakthroughs, they’re at risk of losing those frequencies to Comcast Corp. and other cable companies that say they can use them to offer robust Wi-Fi links to subscribers.The years-long struggle between the industries is nearing an inflection point, with Federal Communications Commission Chairman Ajit Pai signaling he may consider new uses for the airwaves. Pai could announce as early as Tuesday that he’ll schedule a vote to re-examine the allocation at the commission’s meeting next month.“The spectrum, for 22 years, has not reached its highest valued use, and that’s part of the reason why I think it’s important to have an open conversation,” Pai said at a Senate hearing last week. “I’m not saying what the answer should be, I’m simply saying let’s ask the questions that would enable us to have an informed conversation.”That conversation has already kicked off a flurry of activity by stakeholders. A team at Ford Motor Co. gave Pai a ride in a specially outfitted F-150 pickup truck earlier this month. The idea was to demonstrate the technology that could, for example, warn of a scooter’s approach or judge when it’s safe to enter an intersection.“Grateful to Ford for showing us a glimpse of the future,” Pai said in a tweet after his parking-lot spin. “It’s important to have an open conversation about the future of this band” of airwaves.Ford and other carmakers including BMW AG and Toyota Motor Corp., don’t want to lose the rights they gained in 1999 from the FCC for a system designed to link cars, roadside beacons and traffic lights into a seamless wireless communication web to avoid collisions and heed speed limits.Yet after nearly two decades, deployments have been few. An Obama administration proposal to mandate the technology in new cars has been left to languish under the deregulatory agenda pursued by President Donald Trump. General Motors Co. introduced the first factory-equipped model, a Cadillac sedan, just two years ago. And in April, Toyota scrapped plans to equip its cars with the systems starting in 2021.Now even automakers are moving away the original system, and see greater promise in a newer method based on cellular radios -- the system in the F-150 that Ford showed off for the FCC’s Pai. Ford plans to begin equipping all of its U.S. vehicles with the systems starting in 2022.That is an issue for carmakers as the 1999 allocation of airwaves by the FCC locked them into the system envisioned then. They need new rules to use a cellular system, which is backed by several companies including Ford, Audi AG and gear maker Qualcomm Inc.Ford, in a statement, said it is “critical” for the FCC to allow the newer, cellular-based method to use the airwaves because it will become the dominant technology to connect vehicles, infrastructure and pedestrians.Cable providers have pounced, characterizing the currently mandated system as fostering “two decades of stagnation.”They’ve called for ending carmakers’ exclusive rights to the frequencies at 5.9 GHz and allocating all or most of the band to the Wi-Fi systems that carry web traffic for most cable customers.Some consumer groups agree. They include the Consumer Federation of America, the American Library Association, Public Knowledge and the Open Technology Institute at New America.“The best outcome for consumers is to move vehicle safety signaling to a different set of frequencies and allow next generation Wi-Fi to use 5.9 GHz,” Michael Calabrese, director of the Wireless Future Project at the Open Technology Institute, said in an email.Pai controls the FCC’s agenda, and his impatience ushers in a moment of promise -- and peril.“We could maintain the status quo” but “I am quite skeptical that this is a good idea,” Pai said in a speech last month to a gathering that celebrated the Wi-Fi signals used for connections in hotel lobbies, coffee shops and homes.Pai said it would take a formal rulemaking to allow greater Wi-Fi use of the swath, or to let automakers exploit the band for the cellular safety system.Skepticism has arisen within the Trump administration. Transportation Secretary Elaine Chao telephoned Pai to urge the FCC not to use its June meeting to commence its consideration of the airwaves, according to one official briefed on the matter who spoke on condition of anonymity because the conversation wasn’t public.While Transportation Department officials haven’t advanced the previous administration’s proposed mandate, they want autos to hold onto the airwaves.“Preserving the spectrum for transportation safety, which can save lives, is probably more important than slightly faster Wi-Fi,” Derek Kan, the Transportation Department’s undersecretary for policy, said in an interview June 3.To contact the reporters on this story: Todd Shields in Washington at firstname.lastname@example.org;Ryan Beene in Washington at email@example.comTo contact the editors responsible for this story: Jon Morgan at firstname.lastname@example.org, Elizabeth Wasserman, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
GM is one of many automakers trying to chase Tesla (TSLA) as the top electric and autonomous vehicle manufacturer, with plans to produce 20 models of electric cars by 2023.
On June 12, Ford announced a recall for ~1.2 million Ford Explorers in the US and 28,000 Explorers in Canada. The defect could increase the risk of a crash by diminishing the steering control.
Taking cues from the broader market movement, most auto companies traded on a slightly positive note last week. General Motors, Fiat Chrysler, and Toyota rose 0.5%, 0.5%, and 1.6%, respectively.
Earlier today, US Commerce Secretary Wilbur Ross once again hinted at President Donald Trump’s willingness to impose auto tariffs on Europe. While talking to CNBC, Ross said that he is positive about a US-Europe trade deal.
(Bloomberg) -- When a group of 17 of the world’s largest automakers sent a letter to President Donald Trump on June 6 asking him to compromise with California on vehicle-emission standards, one company was notably absent from the list of signatories: Fiat Chrysler Automobiles NV.That holdout stance is not atypical for the automaker, known for its Jeep SUVs, beefy pickup trucks and Italian sports cars. Most automakers have called for tapping the brakes by making adjustments to national fuel-economy and emissions standards in light of low gasoline prices and soaring SUV sales. But Fiat Chrysler’s public comments hew closer to the Trump administration’s reverse shift on Obama-era regulations.“They are looking out for their own best interest, as every company and every person does at the end of the day,” said Brett Smith, director of propulsion technology and energy infrastructure at the nonprofit Center for Automotive Research.General Motors Co. suggested a national mandate for electric vehicles in 2021 in its written comments to regulators. Honda Motor Co. called for “strong 2025 targets” and said it did not support a Trump administration proposal to freeze the standards. Ford Motor Co.’s top executives said publicly they “support increasing clean-car standards through 2025 and are not asking for a rollback.”In its written comments submitted to regulators last year, Fiat Chrysler said it agrees with one of the Trump administration’s central arguments: Stricter fuel-efficiency mandates drive up new vehicle prices, keeping older, dirtier and less-safe cars on the road longer. It said this could undermine the very air quality and safety benefits the Environmental Protection Agency and National Highway Traffic Safety Administration rules aim to deliver.The EPA and NHTSA are preparing a final rule now that could differ from the post-2020 freeze the agencies recommended last year.“Our support for one national program and the mid-term evaluation remains unchanged,” Fiat Chrysler said in an emailed statement last week after its peers’ letter became public. “It was made clear when we were one of just two automakers to testify last September at hearings held by the EPA and NHTSA.”Shares of Fiat Chrysler rose 1.7% to $13.50 at 10:23 a.m. in New York.When the Trump administration proposed stripping California of its authority to limit tailpipe greenhouse-gas emissions last August, Fiat Chrysler made one of the industry’s strongest public endorsements of the federal government’s right to do so.“It remains our hope that conflicts over preemption will be avoided by an agreement,” the automaker wrote in comments submitted to the government last October. “However, in the absence of such an agreement, FCA agrees that the law gives the federal government the authority to preempt state standards that are directly related to fuel economy.”Fuel-Economy LaggardThe Trump administration in February terminated months of talks between federal regulators and California officials about a common standard. Automakers have urged the two sides to reach an agreement to avert a prolonged legal battle with California, but the White House has rejected that appeal. A dozen other states adhere to California’s emissions rules -- a bloc that accounts for more than a third of U.S. auto sales.Fiat Chrysler was among the first car companies to abandon sedans and, according to market research firm Edmunds, its model lineup has the lowest average fuel economy among the six biggest automakers. But almost every major manufacturer is boosting production of higher-emission SUVs and trucks for the U.S. market.The industry acted in unison urging the Obama administration to adjust fuel economy and cried foul when the EPA in 2016 determined no changes were needed, months earlier than expected. Automakers quickly appealed to a newly elected Trump early in 2017 for relief. The plea for a compromise between California and federal regulators reflects a desire to avoid costs from a split standard and the potential for years of uncertainty caused by a courtroom battle over the rules.“It’s important for them to communicate through the general public that yes, in a way, they very much do care about the environment, but they also understand they have a market to serve and to try to sell to,” Smith said.Under Chief Executive Officer Mike Manley, who took over last July, Fiat Chrysler has ramped up plans to electrify its lineup, in part to stay competitive in China and Europe where emissions standards are tougher. The automaker still stands to benefit the most from Trump’s proposed freeze, according to Alan Baum, an independent auto analyst in West Bloomfield, Michigan.“They’re way behind, by design, on electrics and hybrids,” Baum said. “To the extent there’s any improvement or required improvement in fuel economy, that’s really tough for them.”The Italian-American company has been a laggard even by industry standards. It ranked last among 13 car companies for both fuel economy and carbon emissions in the EPA’s evaluation of 2017 model-year sales. Its late CEO Sergio Marchionne publicly griped about having to sell a money-losing battery electric vehicle in California to meet that state’s more stringent emissions standards.The company has pointed out that demand for low-emissions models remains muted in much of the country, with hybrid and plug-in electric vehicles accounting for just 1.5% of U.S. vehicle sales through July of last year, according to IHS estimates. “The final rule must be based on the market realities of today,” Fiat Chrysler said in its written testimony on emissions-policy revisions.(Adds share price in 8th paragraph.)\--With assistance from Ryan Beene.To contact the reporter on this story: Gabrielle Coppola in New York at email@example.comTo contact the editors responsible for this story: Chester Dawson at firstname.lastname@example.org, Cécile Daurat, Kevin MillerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Car sales in China, the world’s biggest automotive market, fell year-over-year in 2018 for the first time in more than two decades. Automotive sales have contracted in China for 11 consecutive months now. The slowdown only seems to be deepening, and last month, China’s car sales fell a whopping 16.4%.