The investment bank cut its ratings for several major dealers, including Zhongsheng Group and Meidong Auto, citing a sharp decline in vehicle sales and growing pressure on profitability from new cars and after-sales services.
Investment firm Stifel reports that AI infrastructure companies are supply-gated, not demand-limited, and expects most to beat estimates and raise guidance during the upcoming earnings season.
The commercial vehicle manufacturer's stock rose after it reported a 4% year-over-year increase in second-quarter vehicle deliveries, signaling a robust demand recovery ahead of its full earnings release.
Online auto retailer Carvana can now deliver new vehicles to nearly half of the U.S. population using just seven physical dealerships, leveraging its logistics network to sell Stellantis brands, according to a note from BTIG.
Investment bank Jefferies has upgraded Italian defense firm Leonardo to 'Buy,' citing a strategic shift toward defense electronics and a new valuation model. The firm sees 30% upside for the stock, replacing Rheinmetall as its top sector pick.
British airline EasyJet has withdrawn its support for a £5.5 billion offer from Castlelake, instead backing a higher £5.7 billion proposal from U.S. investment firm Apollo Global Management.
Shares of the fastener supplier surged after it reported a near-doubling in Q2 operating profit despite lower sales and announced the sale of its automotive contract manufacturing unit.
The STOXX 600 edged higher as a surge in EasyJet shares boosted the travel sector, but declines in chipmakers like ASML and renewed geopolitical risk in the Middle East capped gains.
Taiwan's main stock index, the TAIEX, finished Friday's trading session in negative territory, weighed down by declines in the biotechnology, medical care, and plastics sectors.
