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Ford, American Axle And Penske Are Best Bets Ahead Of Auto Numbers
2016-02-29 20:26:42| Auto Dealers - Topix.net
The U.S. auto industry will be releasing light vehicle sales numbers on Tuesday, and Buckingham Research Group analyst Joseph Amaturo has some recommendations for stock traders looking to play the results. According to Amaturo, January and February are typically the two weakest months of the year for U.S. auto sales, but Buckingham is looking for some relatively strong numbers on Tuesday.
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UPDATE 2-Icahn offers to buy rest of Federal-Mogul to boost auto business
2016-02-29 16:11:27| Auto Dealers - Topix.net
Billionaire Carl Icahn's investment company offered to buy the 18 percent of auto parts maker Federal-Mogul Holdings Corp offered to pay $7 per share in cash, sending the company's stock soaring nearly 41 percent to $7.02 in premarket trading. The latest investment from Icahn Enterprises, whose auto business was its second largest by revenue in 2014, comes after a record year of U.S. auto sales and in the same month it closed the acquisition of Pep Boys-Manny Moe & Jack, another U.S. auto parts retailer.
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Advance Auto Parts, Inc. (AAP) Shares Sold by Retirement Systems of Alabama
2016-02-29 14:32:22| Auto Parts - Topix.net
Retirement Systems of Alabama reduced its stake in shares of Advance Auto Parts, Inc. by 16.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 118,999 shares of the company's stock after selling 22,725 shares during the period.
UPDATE 1-Icahn offers to buy rest of auto parts maker Federal-Mogul
2016-02-29 14:32:21| Auto Parts - Topix.net
Billionaire Carl Icahn's investment company offered to buy the 18 percent of auto parts maker Federal-Mogul Holdings Corp has been focusing on its auto business, its second largest by revenue, as a slump in crude prices slows growth in its energy business, which accounted for nearly half of its revenue in 2014. The company said in December it would buy auto parts retailer Pep Boys-Manny Moe & Jack PBY.N for about $1 billion.
Customers set to sue imported auto brand...
2016-02-29 06:41:16| Auto Dealers - Topix.net
Korean drivers are expected to file a class-action lawsuit against some foreign auto brands, such as Volkswagen, over their decisions not to offer any tax refunds, industry sources said Monday. Last week, the automakers, including BMW and Mercedes-Benz, decided not to offer any tax refunds to their customers, claiming that the government's tax cut had already been reflected in their ramped-up sales promotions and automobiles' price tags.
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