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Automotive Industry - Industry Outlook

Fri, 01 May 2009 19:58:53 GMT

AUTOS: CHANGES TO COME The auto industry is on the verge of significant changes. CHRYSLER Chrysler filed for bankruptcy as debt holders rejected an offer to take a 15% stake in the restructured company. The Treasury reached a deal earlier this week with four banks that hold the majority of Chrysler's debt in return for $2 billion in cash. However, 40 hedge funds that hold roughly 30 percent of that debt also needed to sign on for the deal to go through. The Treasury Department and the four banks tried to persuade the hedge funds to take a sweetened deal of $2.25 billion in cash. However, the deal ultimately fell through. An announcement of a merger with Fiat was made.[More...]

Forbes’ 10 Biggest Losers: 4 Wealth Protection Lessons From Bankrupt Billionaires

Wed, 18 Mar 2009 15:14:00 GMT

Forbes’ 10 Biggest Losers: 4 Wealth Protection Lessons From Bankrupt Billionairesby Louis Basenese, Advisory PanelistSenior Analyst, The Oxford ClubLast week, Forbes magazine released its annual list of billionaires. No surprise, the rolls shrank.“(In 2007), there were 1,125 billionaires. This year, it’s down to 793,” says CEO Steve Forbes.An NPR broadcast tried to put an optimistic spin on the news suggesting, “All those empty spots… mean more room for[More...]

Analyst Comments: Magna, Barclays, BJ's Wholesale, Cymer

Tue, 12 Aug 2008 06:13:00 GMT

Magna International Inc.'s (MGA) second quarter, diluted earnings per share were $1.98, a 16% or $0.37 decline from $2.35 reported in the corresponding quarter in 2007. Although Magna is expected to benefit from major business wins and acquisitions, decli[More...]

Analyst Comments: Vimpel, Magna, NewAlliance, Omnicom, Oscient Pharma, Robert Half, Penske

Thu, 19 Jun 2008 17:18:22 GMT

Vimpel-Communications (VIP) is the second largest cellular carrier in Russia. Robust subscriber growth and acquisitions continue to drive revenue and earnings momentum. Growth prospects in Eastern Europe for wireless services remain firm and support our forecast for strengthening financials. [More...]

A Good Month — A Good Year, so far

Mon, 02 Jun 2008 03:22:35 GMT

Of the 35 stocks in my portfolio, only 4 lost money for me in May: Magna International, Group 1 Automotive, Reinsurance Group of America, and Hartford Insurance. My largest gainer, OfficeMax, paid for all of the losses and then some.[More...]

Waiting for a Ride on the Phoenix

Thu, 29 May 2008 23:05:19 GMT

As a follow up to my previous post on Altman Z score, investors who use solvency analysis to avoid bankrupt companies should beware of the effects of an economic recovery. The other side of the coin of solvency analysis is the Phoenix effect.[More...]

Is Magna International (MGA) getting it’s groove back?

Thu, 01 May 2008 15:37:07 GMT

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Analyst Comments: ConEd, Sempra Energy, Hawaiian Electric, AK Steel Holding, CACI International, Magna International, AtheroGenics, Potash

Tue, 15 Apr 2008 00:44:04 GMT

Stable, regulated utility operations, a strong balance sheet, regulated rate increases, earnings from non-regulated businesses and an increased dividend payout collectively make Consolidated Edison, Inc., a.k.a., ConEd (ED) a conservative income-based inv[More...]

Analyst Comments: Magna, CLUB, ATS Medical, Mylan, Replidyne, Inter Parfums

Mon, 03 Mar 2008 16:30:02 GMT

Magna International Inc. (MGA) enjoys a strong competitive position in the automotive industry as it is one of the few providers of a complete range of interior and exterior auto systems to global auto companies. The company is likely to benefit from the strong focus on emerging markets and margins are expected to expand. The company also has a strong balance sheet and a cash reserve. The company...[More...]

Earnings Report: 02/27/2008

Wed, 27 Feb 2008 23:46:47 GMT

Ticker:ENOC,PDC,OC,ZINC,DSWL,FPIC,BYD,CRM,DYAX,STAK,WJCI,ARNA,FRZ,FSS,GMR,NCT,GG,GSIG,MCGC,MGA,ACHN,AER,AHT,AIRN,ALTH,AMED,AMSF,BAGL,BEE,CBI,CDR,CHTR,CLHB,CNL,CTRP,CWT,DAVE,DBRN,DLTR,DR,DRCO,DYN,EDGW,EGLE,EIX,ERIE,ESPD,FLS,GEF,GOOD,HK,HT,ICTG,IHP,IHR,KNDL[More...]

GM still seeking Russia deal with Magna

Sun, 08 Nov 2009 19:29:00 GMT

GM still seeking Russia deal with Magna[More...]

UPI NewsTrack Business

Fri, 06 Nov 2009 23:03:00 GMT

U.S. markets gains hold up Friday
NEW YORK, Nov. 6 (UPI) -- Narrow gains held up in U.S. markets Friday, despite news the unemployment rate rose to 10.2 percent.
The Labor Department said 190,000 jobs were lost in October, pushing the unemployment rate up 0.4 percentage points from the previous month's 9.8 percent.

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GM could deploy U.S. funding overseas

Fri, 06 Nov 2009 19:09:00 GMT

GM could deploy U.S. funding overseas[More...]

Magna announces third quarter and year to date results

Thu, 05 Nov 2009 22:49:00 GMT

THREE MONTHS ENDED NINE MONTHS ENDED
During the third quarter of 2009, vehicle production declined 20% to 2.3 million units in North America and 9% to 2.9 million units in Europe, each compared to the third quarter of 2008.
Also during the third quarter of 2009, our North American average dollar content per vehicle increased 8%, while European average dollar content per vehicle was essentially unchanged, each compared to the third quarter of 2008.

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Business Highlights

Wed, 04 Nov 2009 22:46:00 GMT

Fed again pledges to hold rates at record-lows
WASHINGTON (AP) - The Federal Reserve pledged Wednesday to keep a key interest rate at a record low for an "extended period," signaling that the weak economy remains dependent on government help to grow.
NEW YORK (AP) - A late-day slump left stocks mixed Wednesday as investors couldn't hold on to their optimism after the Federal Reserve gave an encouraging assessment of the economy.

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GM to cut 10,000 jobs in Europe

Wed, 04 Nov 2009 21:44:00 GMT

GM to cut 10,000 jobs in Europe[More...]

Economic Outlook: Placing big bets

Wed, 04 Nov 2009 11:46:00 GMT

For the feather in his cap at age 79 and still going strong, the world's second richest man, Warren Buffett, bought himself a railroad.
The investor known as the Oracle of Omaha, whose investments are geared for long term results, was betting on the United States, on railroading and on China and rising oil prices, The Washington Post reported Wednesday.
In midday trading in Europe, the FTSE index in Britain rose 0.74 percent.

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GM says it will keep Opel

Tue, 03 Nov 2009 23:25:00 GMT

GM says it will keep Opel[More...]

Auto-Parts Plant's Expansion Creates 124 More Jobs

Wed, 28 Oct 2009 15:49:00 GMT

Oct. 28--A North Toledo factory that supplies components to automobile and other manufacturers is undergoing a $17.5 million expansion that will result in the company hiring 124 workers in early 2010.
Magna Exteriors and Interiors, a division of Canadian-based auto supply giant Magna International Inc., is undergoing the expansion of its 177,000-square-foot Toledo Engineered Automotive Modular Systems facility in the North Cross Industrial Park to allow the plant to handle additional work, Toledo city officials said yesterday.
The new work will be making injection-molded parts for appliance maker Whirlpool Corp. and for the AutoAlliance International Inc. plant in Flat Rock, Mich., city economic development officials said.

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Auto-Parts Plant's Expansion Creates 124 More Jobs

Wed, 28 Oct 2009 11:49:00 GMT

Oct. 28--A North Toledo factory that supplies components to automobile and other manufacturers is undergoing a $17.5 million expansion that will result in the company hiring 124 workers in early 2010.
Magna Exteriors and Interiors, a division of Canadian-based auto supply giant Magna International Inc., is undergoing the expansion of its 177,000-square-foot Toledo Engineered Automotive Modular Systems facility in the North Cross Industrial Park to allow the plant to handle additional work, Toledo city officials said yesterday.
The new work will be making injection-molded parts for appliance maker Whirlpool Corp. and for the AutoAlliance International Inc. plant in Flat Rock, Mich., city economic development officials said.

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Innovative Composites International Inc. Announces Receipt of Final TSXV Bulletin in Respect of Its Qualifying Transaction and Provides Business Update

Mon, 19 Oct 2009 21:49:00 GMT

Innovative Composites International Inc. (TSX VENTURE: IC) ("ICI" the "Company"), the entity created by the amalgamation of the CPCs Kingsmill Capital Ventures Inc. ("KCV") and Kingsmill Capital Ventures II Inc. ("KII") is pleased to announce that the TSX Venture Exchange (the "Exchange") has issued a final exchange bulletin confirming the completion of the Qualifying Transaction with Innovative Composites Inc. The closing of the Qualifying Transaction, pursuant to which the Company has acquired all of the securities of Innovative Composites Inc. (the "Acquisition"), was announced by press release on October 1, 2009.
The new symbol will only become active on the day that trading recommences.
A Management Information Circular describing the Company, KCV, KII and Innovative Composites Inc. as well as the terms of the Acquisition is available at www.sedar.com.

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Magna and Sberbank offer selected as the preferred solution for Opel

Thu, 10 Sep 2009 17:34:00 GMT

AURORA, ON, and MOSCOW, Russia, Sept. 10 /CNW/ - Magna International Inc. ("Magna") (TSX: MG.A, NYSE: MGA) and Savings Bank of the Russian Federation ("Sberbank") (RTS: SBER, MICEX: SBER03) today announced that their joint offer to acquire a 55% interest in Adam Opel GmbH ("Opel") has been selected by both General Motors Company ("GM") and the Opel Trust as the preferred solution to address the future of Opel. Under the offer, the acquired 55% interest in Opel would be owned 50:50 by a Magna/Sberbank consortium ("Consortium") with GM retaining a 35% interest and Opel employees acquiring 10% as part of a new labour framework. The offer contemplates a total equity investment by the Consortium of Euro 500 million over time.[More...]

Ford Unveils 'Intelligent' System for Plug-In Hybrids to Communicate With the Electric Grid

Tue, 18 Aug 2009 17:52:00 GMT

DEARBORN, Mich., Aug. 18 /PRNewswire-FirstCall/ --
Ford Motor Company (NYSE: F) announced today that it has developed an intelligent vehicle-to-grid communications and control system for its plug-in hybrid electric vehicles that "talks" directly with the nation's electric grid.
This new technology - which builds on Ford's advancements such as SYNC(R), SmartGauge(TM) with EcoGuide and Ford Work Solutions(TM) - allows the vehicle operator to program when to recharge the vehicle, for how long and at what utility rate.

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Magna Seating and Krishna Group Form a Joint Venture for the India Market

Wed, 05 Aug 2009 09:56:00 GMT

50/50 joint venture to produce complete seating systems and seat mechanisms for OEMs in India[More...]

StockPreacher.Com Issues Trading Outlook for Eaton Corp. -- ETN

Mon, 27 Jul 2009 12:04:00 GMT

DALLAS, July 27, 2009 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring power management company Eaton Corp. (NYSE:ETN).
The report includes financial and investment analysis, analyst consensus, and pertinent industry information you need to know to make an educated investment decision.
The investment report on Eaton Corp. (NYSE:ETN) should be of particular interest to other comparable companies: ITT Corp. (NYSE:ITT), Johnson Controls Inc. (NYSE:JCI), Parker-Hannifin Corp. (NYSE:PH), Crane Co. (NYSE:CR), Magna International Inc. (NYSE:MGA) and ABB Ltd. (NYSE:ABB).

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Magna International Inc. - Notice of conference call for second quarter 2009 results

Fri, 24 Jul 2009 21:09:00 GMT

AURORA, ON, July 24 /CNW/ - Magna International Inc. (TSX: MG.A; NYSE: MGA) will release its financial results for the second quarter ended June 30, 2009, on Friday, August 7, 2009.[More...]

Magna and Sberbank announce revised offer for Opel

Tue, 21 Jul 2009 12:51:00 GMT

AURORA, ON, Canada and MOSCOW, Russia, July 21 /CNW/ - Magna International Inc. ("Magna") (TSX: MG.A, NYSE: MGA) and Savings Bank of the Russian Federation ("Sberbank") (RTS: SBER, MISEX: SBER03) today announced that Magna and Sberbank have jointly submitted a revised offer to acquire a 55% interest in Adam Opel GmbH ("Opel") as part of a proposed solution that is intended to assure the long-term viability of Opel. Under the offer, the acquired 55% interest in Opel would be owned by a 50:50 Magna/Sberbank consortium ("Consortium"), with General Motors Company ("General Motors") retaining a 35% interest and Opel employees acquiring 10% as part of a new labour framework. The offer was made in response to a request by General ...[More...]

Magna Announces Continuing Involvement in Proposed Opel Solution

Mon, 01 Jun 2009 13:48:00 GMT

AURORA, ON, June 1 /PRNewswire-FirstCall/ - Magna International Inc. (TSX: MG.A, NYSE: MGA) announced today that, following extensive negotiations over the past several days with various stakeholders, including representatives of German federal and state governments, GM Europe, General Motors Corporation and the US Treasury, it has reached a conceptual framework that should allow Opel to avoid a possible insolvency filing and pursue the restructuring required for its immediate and long-term viability.
Frank Stronach, Chairman of Magna, stated "While the recent negotiations have been intense and difficult at times, I believe we have achieved a constructive solution that represents a "win-win" for all stakeholders and will position Opel to compete and succeed.
There is no assurance that any transaction will result from Magna's current involvement.

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Magna Confirms Offer for Opel

Fri, 22 May 2009 21:49:00 GMT

AURORA, ON, May 22 /PRNewswire-FirstCall/ - Magna International Inc. (TSX: MG.A, NYSE: MGA) today confirmed that, together with Sberbank Rossii ("Sberbank"), it has submitted a non-binding indicative offer for Opel.
The offer contemplates a total investment by Magna and Sberbank of Euro 700 million, a portion of which would be guaranteed by the German government.
Under the offer, the proposed equity interests in Opel would be: General Motors - 35%; Sberbank - 35%; Magna - 20%; and Opel employees - 10%.

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Magna Confirms Involvement in Potential Opel Transaction

Mon, 04 May 2009 21:50:00 GMT

AURORA, ON, May 4 /PRNewswire-FirstCall/ - Magna International Inc. (TSX: MG.A, NYSE: MGA) today confirmed that it is in talks with Opel, General Motors and German government officials regarding potential alternatives for the future of Opel, which could include Magna taking a minority stake in Opel.
There is no assurance that any transaction will result from Magna's current involvement.
However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks, assumptions and uncertainties, including, without limitation: the potential for an extended global recession, including its impact on our liquidity; declining production volumes and sales levels; the impact of government financial intervention in the automotive industry; restructuring of the global automotive industry, including the bankruptcy of Chrysler and the risk of the bankruptcy of other customers; the financial distress of some of our suppliers and the risk of their insolvency, bankruptcy or financial restructuring; restructuring and/or downsizing costs related to the rationalization of some of our operations; impairment charges; shifts in technology; our ability to successfully grow our sales to non-traditional customers; a reduction in the production volumes of certain vehicles, such as certain light trucks; our dependence on outsourcing by our customers; risks of conducting business in foreign countries, including Russia, India and China; our ability to quickly shift our manufacturing footprint to take advantage of lower cost manufacturing opportunities; the termination or non-renewal by our customers of any material contracts; disruptions in the capital and credit markets; fluctuations in relative currency values; our ability to successfully identify, complete and integrate acquisitions; our ability to offset price concessions demanded by our customers; the continued exertion of pricing pressures by our customers; warranty and recall costs; product liability claims in excess of our insurance coverage; changes in our mix of earnings between jurisdictions with lower tax rates and those with higher tax rates, as well as our ability to fully benefit tax losses; other potential tax exposures; legal claims against us; work stoppages and labour relations disputes; changes in laws and governmental regulations; costs associated with compliance with environmental laws and regulations; potential conflicts of interest involving our indirect controlling shareholder, the Stronach Trust; and other factors set out in our Annual Information Form filed with securities commissions in Canada and our annual report on Form 40-F filed with the United States Securities and Exchange Commission, and subsequent filings.

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