Knoll, Inc. (NYSE: KNL), Fifth Street Finance (NYSE: FSC), Forward Air (NASDAQ: FWRD), Nissan Motor Co., Ltd. (OTC: NSANY), Polycom (NASDAQ: PLCM) and PNC Financial Services (NYSE: PNC) were downgraded by analysts.
Fifth Street Finance (FSC) was downgraded by Wells Fargo & Co. (NYSE:WFC) from an “Outperform” rating to a “Market Perform” rating.
Forward Air (FWRD) was downgraded by Stifel Nicolaus from a “Buy” rating to a “Hold” rating.
Knoll, Inc. (KNL) was downgraded by Longbow Research from a “Buy” rating to a “Neutral” rating.
Nissan Motor Co., Ltd. (NSANY) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating.
Polycom (PLCM) was downgraded by Morgan Keegan from an “Outperform” rating to a “Market Perform” rating.
PNC Financial Services (PNC) was downgraded by Compass Point from a “Buy” rating to a “Neutral” rating. They have a price target of $55.00 on the company, down from $82.50.'
Showing posts with label Nissan. Show all posts
Showing posts with label Nissan. Show all posts
Friday, October 21, 2011
Wednesday, April 20, 2011
Toyota (TM) Slowing or Cutting Production Everywhere
Parts shortage from the earthquake and tsunami in Japan continues to hurt the auto sector, with Toyota (NYSE:TM) probably experiencing the worst of the damage, as parts shortages are resulting in its having to shut or cut back on production across the globe, with Europe and China being the latest added to the list.
On Tuesday Toyota said it will extend its production cuts at its factories in North America to the early part of June, suggesting shortages of models at Toyota dealerships.
In Europe there will be an eight-day halt in production for the same reasons.
The automaker added China will also experience a reduction in production from a lack of some parts. China factories will run at about 50 percent capacity through June 5.
Domestically, Toyota resumed car production at all of its plants in on Monday, but they will run at half capacity as well because of parts shortages.
Ford (NYSE:F), General Motors (NYSE:GM), Honda (NYSE:HMC) and Nissan have also said they're cutting back to one level or another at a number of their plants.
Toyota was trading at $77.09, up $0.97, or 1.27 percent, as of 2:21 PM EDT.
On Tuesday Toyota said it will extend its production cuts at its factories in North America to the early part of June, suggesting shortages of models at Toyota dealerships.
In Europe there will be an eight-day halt in production for the same reasons.
The automaker added China will also experience a reduction in production from a lack of some parts. China factories will run at about 50 percent capacity through June 5.
Domestically, Toyota resumed car production at all of its plants in on Monday, but they will run at half capacity as well because of parts shortages.
Ford (NYSE:F), General Motors (NYSE:GM), Honda (NYSE:HMC) and Nissan have also said they're cutting back to one level or another at a number of their plants.
Toyota was trading at $77.09, up $0.97, or 1.27 percent, as of 2:21 PM EDT.
Wednesday, April 13, 2011
Toyota (TM) Production Stopped at Five European Plants
Production at five plants in Europe will be halted by Toyota Motor (NYSE:TM) for several days in April in May based on a shortage of supplies from the earthquake in Japan.
According to Toyota, its Burnaston and Deeside plants in Britain, sites in Adapazari in Turkey, Valenciennes in France and Jelcz-Laskowice in Poland will close on April 21, 22, from April 25 to 29 and on May 2.
"Even if the supply chain has not yet been interrupted, short-term parts shortages are foreseeable," the company said,
This is probably one of the more benign effects on a market from the parts shortage fallout for Toyota and other Japanese auto makers, as Toyota has only a 4 percent market share in Europe, while Nissan has under 3 percent.
Expectations are things will get worse before they get better though.
Toyota Motor was trading at $77.96, up $0.76, or 0.98 percent, as of 9:58 AM EDT.
According to Toyota, its Burnaston and Deeside plants in Britain, sites in Adapazari in Turkey, Valenciennes in France and Jelcz-Laskowice in Poland will close on April 21, 22, from April 25 to 29 and on May 2.
"Even if the supply chain has not yet been interrupted, short-term parts shortages are foreseeable," the company said,
This is probably one of the more benign effects on a market from the parts shortage fallout for Toyota and other Japanese auto makers, as Toyota has only a 4 percent market share in Europe, while Nissan has under 3 percent.
Expectations are things will get worse before they get better though.
Toyota Motor was trading at $77.96, up $0.76, or 0.98 percent, as of 9:58 AM EDT.
Ford (F) Expects Asian Production Slowdown
After taking some big hits on Tuesday early in the trading session, shares of Ford Motor (NYSE:F) rebounded some after the company said it may have to completely halt production in the Asia-Pacific region in the latter part of April, or a minimum, slow it down.
Probable parts shortages because of the earthquake in Japan continue to be the impetus behind the situation.
Ford said in a filing, “Should the supply of a key material or component from Japan be disrupted and an alternate supply not be available, we could have to reduce or temporarily cease production of vehicles, which could adversely affect our and Ford Motor Credit Co.’s financial condition and results of operations.”
Competitors Toyota Motor Corp. (NYSE:TM), Honda Motor Co. (NYSE:HMC) and Nissan Motors (NSANY) continue to come to grips in their domestic market. Some analysts believe the Detroit car makers, including General Motors (NYSE:GM) and Ford, will be able to grow more market share as a result, but that doesn't seem to be as certain as some may think, as it doesn't matter how many parts are short, but what those parts will be and if they're interchangeable or have alternative sources.
Citigroup (NYSE:C) analyst Noriyuki Matsushima noted last week, “The full extent of damage to the supply chain and production disruption from the power outages are being underestimated by the market, and we would avoid the sector as things stand.”
I think he's right. It appears there is far too much optimism in the auto sector by analysts and media outlets, who seem to ignore the realities and focus on their own wishful thinking.
Ford closed Tuesday at $14.91, up $0.05, or 0.34 percent. In after hours the company was trading the same, as of 6:30 PM EDT.
Probable parts shortages because of the earthquake in Japan continue to be the impetus behind the situation.
Ford said in a filing, “Should the supply of a key material or component from Japan be disrupted and an alternate supply not be available, we could have to reduce or temporarily cease production of vehicles, which could adversely affect our and Ford Motor Credit Co.’s financial condition and results of operations.”
Competitors Toyota Motor Corp. (NYSE:TM), Honda Motor Co. (NYSE:HMC) and Nissan Motors (NSANY) continue to come to grips in their domestic market. Some analysts believe the Detroit car makers, including General Motors (NYSE:GM) and Ford, will be able to grow more market share as a result, but that doesn't seem to be as certain as some may think, as it doesn't matter how many parts are short, but what those parts will be and if they're interchangeable or have alternative sources.
Citigroup (NYSE:C) analyst Noriyuki Matsushima noted last week, “The full extent of damage to the supply chain and production disruption from the power outages are being underestimated by the market, and we would avoid the sector as things stand.”
I think he's right. It appears there is far too much optimism in the auto sector by analysts and media outlets, who seem to ignore the realities and focus on their own wishful thinking.
Ford closed Tuesday at $14.91, up $0.05, or 0.34 percent. In after hours the company was trading the same, as of 6:30 PM EDT.
Wednesday, April 6, 2011
Will Ford (F), GM (GM) Gain Share on Japanese Woes?
The idea is floating around that American automakers like Ford Motor (NYSE:F) and General Motors (NYSE:GM) could gain some significant market share on the premise Japanese automakers such as Toyota Motor (NYSE:TM), Honda Motor Co. (NYSE:HMC) and Nissan Motors (OTC:NSANY) are more exposed to parts shortages as a result of the earthquake in Japan.
Deutsche Bank (NYSE:DB) analyst Rod Lache noted, “We continue to believe that U.S. auto makers will be only moderately impacted by supply shortages. Therefore, we believe that they will have relatively higher inventory and thus higher market share.”
He concluded share gains of 2% to 3% for General Motors and Ford Motor to more than offset the lower sales figure he models, which will drop from 13 million to 12.5 million in the U.S. in his estimation.
The though seems not to be how many parts will be disrupted, as that will obviously be in relationship to the Japanese auto makers, but what parts will be scarce.
If a major part is needed by American auto makers, it won't matter if they only have shortage on 6 parts and their Japanese have shortages with 150 parts. If auto manufacturers are short on a part that affects rolling out a product, it won't matter the number of parts that are short.
There is also the issue of transporting of parts, which is connected more to Toyota than the rest of the companies.
But assuming all parts will be accessible to American auto manufacturers, than they obviously will have a clear advantage in the months ahead. That's still not a guarantee though, and it may not be as clear as it appears when looked at from the point of view of vital parts.
Deutsche Bank (NYSE:DB) analyst Rod Lache noted, “We continue to believe that U.S. auto makers will be only moderately impacted by supply shortages. Therefore, we believe that they will have relatively higher inventory and thus higher market share.”
He concluded share gains of 2% to 3% for General Motors and Ford Motor to more than offset the lower sales figure he models, which will drop from 13 million to 12.5 million in the U.S. in his estimation.
The though seems not to be how many parts will be disrupted, as that will obviously be in relationship to the Japanese auto makers, but what parts will be scarce.
If a major part is needed by American auto makers, it won't matter if they only have shortage on 6 parts and their Japanese have shortages with 150 parts. If auto manufacturers are short on a part that affects rolling out a product, it won't matter the number of parts that are short.
There is also the issue of transporting of parts, which is connected more to Toyota than the rest of the companies.
But assuming all parts will be accessible to American auto manufacturers, than they obviously will have a clear advantage in the months ahead. That's still not a guarantee though, and it may not be as clear as it appears when looked at from the point of view of vital parts.
Thursday, March 24, 2011
Toyota (TM) in Ominous Warning to U.S. Plants
A spokesman for Toyota (NYSE:TM) said to its North American and Mexican factories that they need to be ready for a possible shutdown as the parts shortage crisis coming about from the earthquake in Japan could end with that scenario.
Word has reportedly gone out to all 13 of Toyota's factories in the United States, Canada and Mexico. This does not mean that the plants will stop working, Toyota spokesman Mike Goss added, but that they should be ready in case the need arises.
"We expect some kind of interruptions," he said. "They did resume parts production for overseas and for replacement parts," Goss said, "but that was just the suppliers that were capable of doing it."
Toyota employs 25,000 manufacturing and R&D workers in North America alone.
Spokespeople for Nissan (NSANY), Honda (NYSE:HMC) and Ford (NYSE:F) all said those automakers are making no plans to shut down their plants at this time.
General Motors (NYSE:GM) has already had to stop production of a truck plant in Shreveport, La. and a related engine plant in New York State due to shortages of parts from Japan.
Source
Word has reportedly gone out to all 13 of Toyota's factories in the United States, Canada and Mexico. This does not mean that the plants will stop working, Toyota spokesman Mike Goss added, but that they should be ready in case the need arises.
"We expect some kind of interruptions," he said. "They did resume parts production for overseas and for replacement parts," Goss said, "but that was just the suppliers that were capable of doing it."
Toyota employs 25,000 manufacturing and R&D workers in North America alone.
Spokespeople for Nissan (NSANY), Honda (NYSE:HMC) and Ford (NYSE:F) all said those automakers are making no plans to shut down their plants at this time.
General Motors (NYSE:GM) has already had to stop production of a truck plant in Shreveport, La. and a related engine plant in New York State due to shortages of parts from Japan.
Source
Wednesday, March 23, 2011
GM (GM), Chrysler Sue Auto Hauler Allied
A lawsuit filed by General Motors (NYSE:GM) and Chrysler Group against Allied Systems Holding Inc (HAUL.UL) claims the company is holding hostage" over 2,400 new cars and trucks of the companies.
GM said in the complaint, "Defendant is holding hostage 1,704 new GM vehicles, with an estimated value of $46.6 million. It simply has no claim to the vehicles; they are GM's property."
The lawsuit from Chrysler, a separate one from General Motors against Allied, claims it is holding close to 700 of its vehicles.
All this centers around a demand from Allied to General Motors to boost its prices annually at a 3 percent rate to reach 15 percent. Allied also wanted to place limitations on the General Motors right to terminate its contract with the company and other revisions to the contract, according to the lawsuit.
Interestingly, Ford Motor Co (NYSE:F) and Nissan Motor Co Ltd said they are still working with Allied and there has been no interruption in their deliveries.
General Motors was trading at $30.62, falling $0.12, or 0.39 percent, as of 2:09 PM EDT.
GM said in the complaint, "Defendant is holding hostage 1,704 new GM vehicles, with an estimated value of $46.6 million. It simply has no claim to the vehicles; they are GM's property."
The lawsuit from Chrysler, a separate one from General Motors against Allied, claims it is holding close to 700 of its vehicles.
All this centers around a demand from Allied to General Motors to boost its prices annually at a 3 percent rate to reach 15 percent. Allied also wanted to place limitations on the General Motors right to terminate its contract with the company and other revisions to the contract, according to the lawsuit.
Interestingly, Ford Motor Co (NYSE:F) and Nissan Motor Co Ltd said they are still working with Allied and there has been no interruption in their deliveries.
General Motors was trading at $30.62, falling $0.12, or 0.39 percent, as of 2:09 PM EDT.
Monday, December 13, 2010
Ford (NYSE:F) Shrinks Pay Gap with Foreign Automakers
One of the major competitive challenges of American automakers over the recent years was the outrageous amount that had to pay their workers, which made them unable to compete. For Ford (NYSE:F) that has changed as a result of union concessions which brought compensation back to reality.
It had cost Ford $75 an hour for each worker in the past, while competitors like Toyota (NYSE:TM) were able to operate at $56 an hour. Now Ford is able to compete at $59 an hour, bringing them close in line to their peers.
Ford said they're going to continue to work to lower that gap in order to be able to compete on a sustainable level.
Other competitors like Nissan, Hyundai and Kia operate at a level of about $48 an hour per employee.
One way they were able to make it look closer was to remove the cost of healthcare from their balance sheets by creating trusts to cover the costs.
Ford closed Friday at $16.73, down $0.03, or 0.18 percent.
It had cost Ford $75 an hour for each worker in the past, while competitors like Toyota (NYSE:TM) were able to operate at $56 an hour. Now Ford is able to compete at $59 an hour, bringing them close in line to their peers.
Ford said they're going to continue to work to lower that gap in order to be able to compete on a sustainable level.
Other competitors like Nissan, Hyundai and Kia operate at a level of about $48 an hour per employee.
One way they were able to make it look closer was to remove the cost of healthcare from their balance sheets by creating trusts to cover the costs.
Ford closed Friday at $16.73, down $0.03, or 0.18 percent.
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