The Zacks Analyst Blog Highlights: Honda, Toyota, CNH, Ford And Tesla
Zacks Investment Research | Sep 06, 2019 12:22AM ET
For Immediate Release
Chicago, IL –September 6, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Honda Motors (NYSE:HMC) , Toyota Motors (NYSE:TM) , CNH Industrial (NYSE:CNHI) , Ford (NYSE:F) and Tesla, Inc. (NASDAQ:TSLA) .
Here are highlights from Thursday’s Analyst Blog:
Auto Stock Roundup: CNH Spinoff, Ford Recall & More
Following a rough first half of the year, U.S. light-vehicle sales increased y/y for the second straight month in August, helped by five sales weekends due to the Labor Day holiday. Total sales of U.S. light vehicles in August came in at 921,567, marking 12.2% y/y growth. Notably, auto biggies like Honda Motors, Toyota Motors, Hyundai and Nissan drove the sales, registering maximum gains.
On the news front, CNH Industrial unveiled plans to separate the IVECO truck business from the agriculture and construction business, thereby creating two distinct world-leading businesses. Meanwhile, Ford recalled more than 550,000 trucks and SUVs in North America to resolve the vehicles' seat-back issue.
Recap of the Week’s Most Important Stories
1. As part of the five-year plan to boost profits, CNH Industrial is set to separate the IVECO truck business from the agriculture and construction business, thereby creating two distinct world-leading businesses. Subject to certain precedent conditions, the industrial vehicle maker intends to complete the revamp by 2021, forming two independent publicly-listed companies in a bid to rev up asset values and optimize portfolio. The strategic spin-off holds the promise of unlocking significant value by maximizing focus, optimizing costs and delivering synergies.
Following a comprehensive portfolio review, CNH Industrial will split its business into two units — ‘On Highway’ and ‘Off-Highway’ businesses. The ‘Off-Highway’ assets, which contributed around $15.6 billion to 2018 pro-forma combined revenues, will comprise agricultural and construction business along with specialty vehicles. The ‘On-Highway’ assets, which represented 2018 pro-forma combined revenues of around $13.1 billion, will include the Iveco brand and powertrain business. (Read More: Zacks Investment Research
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