Ford Motor (F) Declares $0.15 Quarterly Dividend; 5% Yield
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RBC Capital Downgrades Ford (F) to Sector Perform
October 16, 2017 3:16 AM EDTRBC Capital downgraded Ford (NYSE: F) from Outperform to Sector Perform with a price target of $13.00.
Analyst Joseph Spak says it's too early for a turnaround. The analyst likes the new CEO's LT vision for the company but believes the process is... More
Kobe Steel crisis deepens as more data tampering revealed; shares tumble
October 10, 2017 9:58 PM EDTBy Yuka Obayashi and Tomo Uetake
TOKYO (Reuters) - Japan's Kobe Steel Ltd plunged deeper into crisis on Wednesday as fresh revelations showed data fabrication at the steelmaker was more widespread than initially thought, heightening a safety scare along the global supply chain.
Investors, worried about the financial impact and potential legal fallout, again dumped Kobe Steel stock, wiping about $1.6 billion off its market value in two days.
Kobe Steel said late on Wednesday it found 70 cases of tampered data on materials used in optical disks and liquid crystal displays at its Kobelco Research... More
Heng Ren Partners Publishes Letter Destroying Chairman's Bid for China Automotive Systems (CAAS); 'Bid 47% Below Book Value Defies Logic... Inexcusable Insult - Stiffing Shareholders'
October 10, 2017 3:19 PM EDTOn Tuesday afternoon, Heng Ren Partners LLC Managing Partner Peter Halesworth released a letter to China Automotive Systems (NASDAQ: CAAS) shareholders, detailing his objection to CAAS Chairman Hanlin Chen's proposed buyout offer to shareholders at $5.45 per share.
Halesworth contends the offer is 47% below the company's book value of $10.35 per share and unfairly penalizes patient shareholders, asking them to divest an asset generating 13% return on equity since 2004. He continues saying, "so why a bid from Chairman Chen that marks down the basic value of CAAS to a discount of its book value? If CAAS... More
U.S. dealer lobby head criticizes automakers' bonus program
October 10, 2017 12:33 PM EDTBy Nick Carey
DETROIT (Reuters) - The head of the National Automobile Dealers Association (NADA) on Tuesday criticized automakers' use of so-called stair-step bonus programs, calling them harmful to U.S. auto dealers, to consumer confidence and brand loyalty.
In a speech in Detroit, NADA Chairman Mark Scarpelli said the practice results in "wild discrepancies and fluctuations" in vehicles prices between different dealers, as well as a "lack of consistency, lack of transparency, and lack of explanation" that lead directly to... More
