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: Waymo earns US$5.6 billion in latest investment round; Boyd to release Q3 results Nov. 5
Toronto, Ontario — In today’s Tuesday Ticker, autonomous ride service Waymo marks US$11 billion in total capital raised following its latest investment round. Plus, Boyd Group Services sets the date for its Q3 2024 financial results. Woohoo for Waymo Self-driving robotaxi company Waymo has closed a US$5.6 billion funding round—the largest investment in the company’s […]
Tuesday Ticker: Tesla reportedly seeking lower tariffs for Chinese-built units; CAMI Assembly Plant workers authorized to strike
Toronto, Ontario — In this weekly Tuesday Ticker, Unifor authorizes workers at Ontario’s CAMI Assembly Plant to strike, should an agreement not be met in talks later this month. Meanwhile, Tesla reportedly seeks lower tariffs for its Chinese-built models following the government’s recent announcement. Strike watch Unifor members working at the General Motors CAMI Assembly […]
Tuesday Ticker: AutoCanada reports Q2 2024 financial results; Rivian pauses Amazon van production
Toronto, Ontario — In this weekly Tuesday Ticker, AutoCanada announces its Q2 2024 results and says it’s performing a “strategic review” of its non-profitable and non-core operations, while Rivian stocks dip due to a production pause. About AutoCanada AutoCanada’s Q2 2024 total sales decreased 8.8 percent year-over-year, and the company is performing a “strategic review” […]
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: Unifor union workers prepare for potential strike; Driven Brands to repurchase US$50m in shares
Toronto, Ontario — In this weekly Tuesday Ticker, Unifor holds a strike vote for its 18,000 auto workers, while Driven Brands plans a share repurchase. Uh oh, Unifor could strike Unifor union members have voted to strike if they cannot reach an agreement with the Detroit Three—Ford, Stellantis and General Motors—before 11:59 p.m. on Sept. […]
Strong Collision Performance: AutoCanada reports Q2 results, gross profit up 14.1 percent
Edmonton, Alberta — AutoCanada reported its Q2 financials last Thursday, where it stated its parts, services and collision repair operations had a “robust performance.” Consolidated gross profit increased to $318.7 million, up 14.1 percent. The primary drivers of gross profit were higher new vehicle sales volumes and strong performances from AutoCanada’s used retail vehicle division; […]
Tuesday Ticker: Competition for EV trucks and another quarter in the bag for AutoCanada
Toronto, Ontario — The completion of Tesla’s first Cybertruck puts pressure on its competitors in the EV space and AutoCanada prepares to delve into its Q2 financials during a call in August. Rivian recoils The unveiling of Tesla’s first Cybertruck off the assembly line dealt yet another blow to Rivian’s share prices. The news caused […]
Tuesday Ticker: Nikola issued delisting warning from NASDAQ; Tesla, Ford deal drives share prices
Toronto, Ontario — In this weekly Tuesday Ticker, electric truck maker Nikola risks being delisted from NASDAQ while Ford and Tesla see an uptick in share price thanks to a Supercharged partnership. Nikola could be nixed Controversial electric truck maker Nikola is at risk of being delisted from NASDAQ, the company disclosed last Thursday in […]
Tuesday Ticker: AutoCanada net income down in Q4 2022; Martinrea reports major gains
Toronto, Ontario — In this weekly Tuesday Ticker, AutoCanada reports net income decreases and records in full-year reports, while Ontario auto parts manufacturer Martinrea marks 20 percent gains in Q4 2022 sales. Meanwhile, proxy advisors suggest Ritchie Brothers Auctioneers steers clear of its deal to acquire IAA Inc. Record highs and lows AutoCanada reported its […]
