Tuesday Ticker: Magna lowers 2024 guidance; Ford to hit the ‘lower end’ of 2024 earnings forecast, automaker warns
Toronto, Ontario — In this weekly Tuesday Ticker, Magna reports better-than-expected Q3 financials—yet still lowers its guidance amid global vehicle production slumps. Meanwhile, Ford warns investors that it will hit the ‘lower end’ of predicted earnings in 2024. Production problems Shares of Magna International rose 7.8 percent following better-than-expected Q3 2024 results—though the Ontario-based auto […]
Tuesday Ticker: Rivian to pause more production; Magna makes plans for ‘B2B sales platform’
Toronto, Ontario — In this weekly Tuesday Ticker, Rivian reportedly announces more production pauses at manufacturing plants, while Magna and General Motors make plans for an automotive software marketplace. Rumours at Rivian Rivian is reportedly soon pausing production at its Normal, Illinois, manufacturing plant, according to a report from Drive Tesla Canada, which obtained information […]
DUI Deterrents: Magna develops impaired driving prevention technology
Toronto, Ontario — Mobility technology company, Magna has developed a concept technology to combat impaired driving. Introduced at the Consumer Electronic Show (CES) in Las Vegas, Nevada, the technology is designed to reduce impaired driving by using an interior sensor and camera device embedded in the cockpit of the vehicle. Specifically, the new technology determines […]
Tuesday Ticker: Magna blows analysts’ minds; Toyota potentially seeks financial assistance
Toronto, Ontario — In this weekly Tuesday Ticker, Magna blows analyst expectations out of the water and sees shares jump almost 15 percent; while a government source teases that Toyota could soon seek Ottawa’s assistance in its shift to EV assembly. Magna’s shares move Magna saw its shares surge last Friday as the Aurora, Ont.-based […]
Tuesday Ticker: Magna raises annual forecast; shares drop at Driven Brands
Toronto, Ontario — In this weekly Tuesday Ticker, Magna raises its annual outlook amid stellar Q2 financials; Nikola hires its fourth CEO and Driven Brands sees some stock dips. Mega Magna Magna International reported its Q2 financials last week, beating out analyst estimates with 17 percent revenue growth, to $10.98 billion, the company said Friday. […]
Tuesday Ticker: Tesla allegedly eyeing Ontario for Gigafactory plans; Magna reports Q2 2022 results
Toronto, Ontario — Tesla reportedly looks to build its own Canadian Gigafactory in Ontario, while Magna marks some meek numbers in its Q2 2022 financial results call. Tesla-tario? Tesla is lobbying the Ontario government for an “advanced manufacturing facility” within the province, according to reports from Electric Autonomy Canada. The EV news outlet said that […]
Lite-Brite Repair: Magna unveils ‘Breakthrough Lighting’ prototype, customizable lighting for thermoplastic surfaces
Aurora, Ontario – Do you remember any childhood skills you used to fix your Lite-Brite? Those skills might come in handy someday soon. Magna International unveiled its Breakthrough Lighting prototype on Tuesday, demonstrating the technology’s ability to “allow consumers to interact with their vehicles” through “communicative” lighting features. Magna is initially showing the Breakthrough Lighting […]
Second Thoughts: Magna cancels plans for $50 million battery enclosure plant in Chatham
Chatham, Ontario — The rug has been pulled out on what was supposed to be a $50 million EV battery enclosure production plant for the municipality of Chatham, Ont., as a news release from Magna International shows the company’s plans to cancel the project. The Chatham Daily News got a hold of a Magna news […]
Help with your Haul: Magna ADAS launches on 2022 Toyota Tundra, including advanced trailer assist
Aurora, Ontario — A piece of Canadian-made ADAS technology has gotten an official vote of confidence from a major global automaker, as Magna International announced Wednesday that its proprietary system will be launched on the new 2022 Toyota Tundra pickup truck. Magna’s ADAS makes use of five cameras and an advanced electronic control unit to […]
Tuesday Ticker: February 8, 2022
Toronto, Ontario — In this weekly Tuesday Ticker, Magna makes its moves into the autonomous technology realm with its acquisition of Optimus Ride; an Ontario based auction house marks a stellar start to 2022 and Ford dog-ears huge sums for EV development. Magna moves into autonomous tech Magna International has hired more than 120 employees […]
