DAI.F - Daimler AG
| Previous close | 42.24 |
| Open | 42.26 |
| Bid | 0.00 x 250000 |
| Ask | 0.00 x 250000 |
| Day's range | 40.60 - 42.47 |
| 52-week range | 40.35 - 59.90 |
| Volume | 9,471 |
| Avg. volume | 14,773 |
| Market cap | 43.483B |
| Beta (3Y monthly) | 1.17 |
| PE ratio (TTM) | 10.81 |
| EPS (TTM) | 3.76 |
| Earnings date | N/A |
| Forward dividend & yield | 3.25 (7.69%) |
| Ex-dividend date | 2019-05-23 |
| 1y target est | N/A |
- Reuters
Exclusive: Daimler to make Mercedes Benz-branded heavy trucks in China - sources
German auto maker Daimler AG plans to build Mercedes Benz-branded heavy trucks in China by revamping truck plants owned by its local joint venture, according to a document seen by Reuters and two sources familiar with the matter. The plan will deepen the alliance between Daimler and its Chinese truck JV partner, Beiqi Foton Co Ltd , and comes after the purchase of a 5% stake in Daimler last month by its Mercedes Benz passenger car partner, Beijing Automotive Group Co Ltd (BAIC) [BEJINS.UL], Foton's parent group. "Localisation of Mercedes Benz-branded trucks had been planned years before, so it has nothing to do with BAIC Group's recent stake purchase in Daimler," one source said.
- Reuters
Mercedes reviews vans model portfolio as diesel debate hammers sales
Daimler is reviewing the product portfolio at its vans division, where sales have been hit hard by doubts about the cleanliness of diesel engined vehicles, Mercedes-Benz executive Marcus Breitschwerdt said on Tuesday. "In order to optimise our performance, this also means reviewing and realigning our strategic orientation," Breitschwerdt, head of Mercedes-Benz Vans, said at the launch of an electric Mercedes-Benz van on Tuesday. Daimler will seek cost-saving opportunities, including through a review of the company's' product portfolio, he said.
- Bloomberg
Amazon, Swatch, Daimler and the Risks of a Global Recession
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Investors are bracing for a significant downturn in the world economy, cutting earnings estimates amid a market sell-off. While all cyclical industries face some form of risks, some companies within each sector are more vulnerable than others as the outlook deteriorates.In recent recessions, technology and finance were the triggers -- the internet bubble caused the 2000 market crash and subprime lending led to the 2008-2009 global financial crisis that spread to housing, manufacturing and consumer demand.“The financial sector was leading in 2002-2007. In this cycle, it’s the tech sector,” said Bloomberg Chief Equity Strategist Gina Martin Adams. Still, she cautioned that in spite of the warning signs, it may be too early to predict a recession, adding that “tech is the strength of the economy.”Here are five global companies that may stand to lose more than others:AmazonAmazon.com Inc. is among the most cyclical U.S. internet companies because the Seattle-based e-commerce giant relies heavily on consumer spending. It’s also been building its employee base, adding more than 600,000 jobs and hundreds of huge warehouses to store and ship products. Some of those costs are fixed, while others may be hard to reduce quickly if there’s a steep economic decline. It also faces regulatory risks.“Amazon’s near-term growth may be at risk as macroeconomic conditions worsen, regulatory scrutiny rises and spending cycles spark concern,” Jitendra Waral and April Kim, analysts at Bloomberg Intelligence, wrote in a recent note. “If demand were to slow amid Amazon’s increased spending on logistics, profit would face a double whammy.”One of Amazon’s fastest-growing new businesses -- digital advertising -- is also susceptible to economic ups and downs. Still, Amazon is riding a broad e-commerce growth trend that is unlikely to reverse during a recession.SwatchMakers of luxury items tend to endure more risks in a recession than producers of mass-market consumer goods. This time around, the effects would be compounded by U.S.-China trade tensions and protests in Hong Kong, which has already hurt the city’s economic outlook.Swatch Group AG, the biggest maker of Swiss timepieces, has more exposure to Hong Kong than any other luxury company, generating more than a third of the group’s sales in the Greater China region, according to Kepler Cheuvreux analyst Jon Cox. The maker of Omega watches also has a smaller presence in the steadier luxury categories of jewelry and fashion than rival Richemont, which owns brands including Chloe, Van Cleef & Arpels and Cartier.The high-end segment has also been far less elastic in a downturn. In 2009, Swiss watch exports slumped 22% amid the financial crisis.So far, the economic slowdown in China has done little to damp the appetite of Chinese consumers for luxury goods. But watchmakers are feeling the effects of the sometimes violent demonstrations in Hong Kong, their largest export market. Timepiece sales there could plunge as much as 40% in the second half, Cox said.Swatch also faces sluggish watch sales in Europe. If the U.S. takes a turn for the worse, the industry could be hit by a reversal of the recovery in its second-biggest market.Swatch ExportsDaimlerThe German corporate giant just doesn’t just face a slowdown in its home market -- it also has substantial exposure to a potential downturn in the U.S. The automaker produces two high-margin SUVs in Alabama and its Freightliner division is the leader in the North American heavy-truck market. Demand for transportation of goods tends to closely mirror broader economic swings and analysts say heavy-truck sales in the region have peaked following years of robust growth.Daimler AG relies on the U.S. for about a quarter of the group’s revenue last year. That’s more than Germany or China, where it operates a joint venture with BAIC.After two back-to-back profit warnings following their debut in May, Daimler’s new leadership duo has vowed to improve efficiency. Profitability at the Mercedes-Benz passenger-car division has been sub-par compared with its peers, and the car unit is up against waning demand in its two biggest markets by volume: China and the U.S.CaesarsAn economic downturn could be particularly ill-timed for Caesars Entertainment Corp. The largest owner of casinos in the U.S. is about to increase its debt load again to finance a megadeal, after struggling for years to recover from a 2008 leveraged buyout that left it saddled with debt at the height of the Great Recession. (Caesars ended up putting its largest division into bankruptcy to clean up its balance sheet.)Caesars is set to merge with Eldorado Resorts Inc. early next year in a deal that involves $8.2 billion in new financing, amid rising competition from new casinos, both online and at its properties. Unlike some of its peers that focus more on luxury, such as Wynn Resorts Ltd., Caesars operates a lot of casinos in small markets including Tunica, Mississippi, and Metropolis, Illinois. Combined with Eldorado, it will have 60 owned, operated and managed casino–resorts across 16 states.And even the Las Vegas Strip, once considered invincible as a gambling destination, has yet to see casino revenue return to its 2007 high.Toll BrothersA major economic slowdown would almost certainly hit home sales and prices for builders like Toll Brothers Inc. “If we do go into a recession, housing isn’t going to be the cause,” said Drew Reading, an analyst at Bloomberg Intelligence. “It’s going to be the victim.”The bigger challenge for the industry right now is affordability, especially in high-cost metros on the West Coast. Toll Brothers, the largest U.S. luxury homebuilder, has been trying to diversify geographically. But it’s still highly reliant on California, where it got nearly a third of its revenue last year.One the plus side: Single-family housing starts still haven’t returned to historical levels more than a decade after the financial crisis, which means homebuilders won’t be sitting on as much supply if the economy takes a turn for the worst.\--With assistance from Christoph Rauwald, Kevin Miller, Corinne Gretler, Noah Buhayar, Ian King, Christopher Palmeri and Alistair Barr.To contact the reporter on this story: Cécile Daurat in Wilmington at cdaurat@bloomberg.netTo contact the editors responsible for this story: Crayton Harrison at tharrison5@bloomberg.net, Linus Chua, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- TechCrunch
Proterra, the Tesla of electric buses, closes in on $1 billion valuation
Proterra has authorized shares to raise $75 million, a new round of fundingthat would push the electric bus maker's valuation past $1 billion, TechCrunchhas learned
- Reuters
Mercedes-Benz offers subsidies to retrofit older diesel cars in Germany
Daimler said on Tuesday Mercedes-Benz customers in Germany could apply for a 3,000 euro ($3,350) subsidy to upgrade the exhaust filters of older, polluting diesel vehicles, the latest effort among German carmakers to avoid inner-city bans. Carmakers have been forced to consider upgrading exhaust treatment systems on older cars after German cities started banning heavily polluting diesel vehicles to cut fine particulate matter and toxic nitrogen oxides.
- Reuters - UK Focus
BUZZ-Top of the Street: Puma, Daimler, AB InBev, Fortum, Uniper
- Reuters
GM faces declining sales and price wars in largest markets
General Motors Co's investors will see on Thursday how the Detroit carmaker is weathering declining sales and mounting price pressures in its largest markets when it reports second-quarter earnings. Slumping industry demand in China, the world's largest auto market, and an escalating price war in the lucrative U.S. pickup truck segment are ratcheting up the pressure on GM. Other automakers, including U.S. rival Ford Motor Co and Germany's Daimler AG , offered disappointing forecasts last week.
- Motley Fool
Diesel Woes Drive a Big Loss for Mercedes-Benz Parent Daimler AG
Wrangling over emissions is proving to be very expensive.
- Reuters - UK Focus
LIVE MARKETS-STOXX steady, DB down, ASMI adds shine to chips, ITV top gainer
* European shares open little changed * Earnings in focus in Europe and U.S. * Deutsche Bank posts 3.15 bln euro Q2 loss, shares fall * Eyes on PMIs ahead of tomorrow's ECB meeting * Signs of progress in trade talks support Asian shares * Chips rally after ASMI, Texas Instruments results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net STOXX STEADY, DB DOWN, ASMI ADDS SHINE TO CHIPS, ITV TOP GAINER (0732 GMT) The pan-European STOXX 600 benchmark is managing to hold near the over two-week highs hit in the previous session, trading just about flat as investors digest a deluge of earnings.
- Reuters - UK Focus
LIVE MARKETS-Europe to steady near 2-week high as earnings roll in
- Reuters
Daimler vows to cut costs after one-offs bring loss
Luxury carmaker Daimler said it would intensify cost cuts after legal risks for diesel-related issues and the cost of replacing Takata airbags triggered a 1.56 billion euros ($1.74 billion) loss before interest and taxes in the second quarter. The company reduced its sales outlook for Mercedes-Benz cars and said 4.2 billion euros in one-off expenses hit earnings, mainly at the cars and vans divisions, contributing to an operating loss at group level, compared with a 2.6 billion profit in the second quarter last year. Daimler pledged to cut costs in response but provided few details under new Chief Executive Ola Kaellenius, who took up the top job two months ago.
- Reuters - UK Focus
LIVE MARKETS-Headlines roundup: earnings, earnings, earnings
* Deutsche Bank posts 3.15 bln euro Q2 loss Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Deutsche Bank posted a Q2 loss of 3.15 billion euros as a result of costs for a major restructuring, while Daimler said it would intensify cost cuts after legal risks for diesel-related helped trigger a 1.56 billion euros loss before interest and taxes in Q2.
- Reuters - UK Focus
UPDATE 2-Daimler vows to cut costs after one-offs bring loss
Luxury carmaker Daimler said it would intensify cost cuts after legal risks for diesel-related issues and the cost of replacing Takata airbags triggered a 1.56 billion euros ($1.74 billion) loss before interest and taxes in the second quarter. The company reduced its sales outlook for Mercedes-Benz cars and said 4.2 billion euros in one-off expenses hit earnings, mainly at the cars and vans divisions, contributing to an operating loss at group level, compared with a 2.6 billion profit in the second quarter last year. Daimler pledged to cut costs in response but provided few details under new Chief Executive Ola Kaellenius, who took up the top job two months ago.
- Reuters
China's BAIC buys 5% Daimler stake to cement alliance
FRANKFURT/BEIJING (Reuters) - China's Beijing Automotive Group Co Ltd (BAIC) has bought a 5% stake in Daimler, cementing their long-standing alliance after China's Geely emerged as a potential rival by also taking a stake in the German automaker. BAIC has been Daimler's main partner in China for years, operating Mercedes-Benz factories in Beijing through Beijing Benz Automotive.
- Reuters
Daimler, Bosch get approval to test driverless valet parking
Daimler and auto supplier Bosch will start valet parking using autonomous driving technology in Stuttgart, Germany, after local authorities gave the carmaker permission to start testing the technology. The automated valet parking service will start at the Mercedes-Benz Museum parking garage, using infrastructure provided by Bosch and vehicle technology from Daimler, Bosch said.
