In an announcement Tuesday morning from Shanghai, Ford Motor Co. (NYSE: F) said it had signed a memorandum of understanding with Chinese automaker Anhui Zotye Automobile to discuss the establishment of a 50-50 joint venture to develop, produce, market and service a new line of all-electric passenger vehicles (EVs) for the Chinese market.
Focusing on the market for electric vehicles in China leverages the country’s position as the world’s largest market for EVs due to government incentives aimed at curbing China’s massive air quality issues. Ford said it expects the market for EVs in China to rise to 4 million by 2025 out of a total of 6 million units that will have some degree of electrification.
Anhui Zotye has sold more than 16,000 EVs in the first seven months of 2017, an increase of 56% year over year. It is the Chinese market leader in the small all-electric vehicle segment.
Ford executive Peter Fleet said:
The potential to launch a new line of all-electric vehicles in the worlds largest auto market is an exciting next step for Ford in China. Electric vehicles will be a big part of the future in China and Ford wants to lead in delivering great solutions to customers.
Hot China Stocks To Buy For 2018: Sage Therapeutics, Inc.(SAGE)
- [By Chris Lange]
Buy-dip on several “Potential Blockbusters” Aimmune Therapeutics, Inc. (NASDAQ: AIMT), Audentes Therapeutics, Inc. (NASDAQ: BOLD), AveXis, Inc. (NASDAQ: AVXS), Bluebird Bio, Inc. (NASDAQ: BLUE), Esperion Therapeutics, Inc. (NASDAQ: ESPR), and Sage Therapeutics, Inc. (NASDAQ: SAGE) are buy-dip candidates given their bullish trends and favorable technical patterns. Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT), Prothena Corp. PLC (NASDAQ: PRTA), Tesaro, Inc. (NASDAQ: TSRO) and Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) have bearish set-ups. Heron Therapeutics, Inc. (NASDAQ: HRTX) is bigger picture bullish, but may correct further on a move below $19.55. Clovis Oncology, Inc. (NASDAQ: CLVS) has bearish set-up and bulls need to push above $69 to invalidate.
- [By ]
Cramer was bearish on Geron (GERN) , Mitek Systems (MITK) , AK Steel Holding (AKS) , Sage Therapeutics (SAGE) and AbbVie (ABBV) .
Search Jim Cramer’s “Mad Money” trading recommendations using our exclusive “Mad Money” Stock Screener.
- [By Dan Caplinger]
Friday was a poor day on Wall Street, as the Dow Jones Industrials fell 200 points and other major benchmarks lost about 1%. Rising bond yields were a major source of consternation among those following the financial markets, with the 10-year Treasury hitting 2.95% and helping to send mortgage rates sharply higher. Even though earnings season has gone fairly well for many companies, some investors are also starting to realize that political issues are likely to cloud the outlook for the U.S. economy in the coming months, creating more uncertainty that could stymie further market gains. Some bad news affecting individual companies also added to the negative mood. Stanley Black & Decker (NYSE:SWK), ManpowerGroup (NYSE:MAN), and Sage Therapeutics (NASDAQ:SAGE) were among the worst performers on the day. Here’s why they did so poorly.
- [By ]
Sage Therapeutics (SAGE) : “Let’s wait and see. I can’t bless it until I see more from them.”
AbbVie (ABBV) : “I want to stay away from controversy. I like Eli Lilly (LLY) .”
Hot China Stocks To Buy For 2018: TFS Financial Corporation(TFSL)
- [By Shane Hupp]
Get a free copy of the Zacks research report on TFS Financial (TFSL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Hot China Stocks To Buy For 2018: ImmunoGen, Inc.(IMGN)
- [By George Budwell]
Shares of the clinical-stage biotech ImmunoGen (NASDAQ:IMGN) rose by as much as 13.8% on heavy volume in early-morning trading today. The catalyst?
- [By Brian Orelli]
ImmunoGen (NASDAQ:IMGN) is in waiting mode with its lead drug, mirvetuximab, being tested in the phase 3 Forward I trial in patients with ovarian cancer, making for a relatively quiet first-quarter earnings release.
- [By Logan Wallace]
ImmunoGen (NASDAQ:IMGN) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.
- [By Joseph Griffin]
Trexquant Investment LP raised its stake in shares of ImmunoGen (NASDAQ:IMGN) by 190.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 331,215 shares of the biotechnology company’s stock after buying an additional 217,244 shares during the quarter. Trexquant Investment LP owned about 0.25% of ImmunoGen worth $3,484,000 at the end of the most recent reporting period.
Hot China Stocks To Buy For 2018: Methode Electronics, Inc.(MEI)
- [By Logan Wallace]
Here are some of the news stories that may have effected Accern Sentiment Analysis’s analysis:
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Analysts Expect Methode Electronics (MEI) Will Announce Quarterly Sales of $242.88 Million (americanbankingnews.com) Methode Electronics (MEI) Receives Consensus Recommendation of “Hold” from Brokerages (americanbankingnews.com) Analysts Anticipate Methode Electronics (MEI) Will Post Earnings of $0.74 Per Share (americanbankingnews.com) Commit To Buy Methode Electronics At $35, Earn 5.8% Annualized Using Options (nasdaq.com)
Shares of Methode Electronics opened at $41.75 on Tuesday, Marketbeat reports. Methode Electronics has a 12-month low of $41.85 and a 12-month high of $42.60. The company has a market capitalization of $1.56 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 0.88 and a beta of 0.86. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.03 and a quick ratio of 3.47.
- [By Logan Wallace]
ValuEngine cut shares of Methode Electronics (NYSE:MEI) from a hold rating to a sell rating in a research note published on Wednesday morning.
MEI has been the topic of several other research reports. Zacks Investment Research lowered Methode Electronics from a buy rating to a hold rating in a research report on Saturday, February 24th. Robert W. Baird reissued an outperform rating and set a $51.00 target price (up previously from $48.00) on shares of Methode Electronics in a research report on Friday, March 2nd. Finally, TheStreet lowered Methode Electronics from a b rating to a c+ rating in a research report on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $48.75.