$DCH

4 stories mentioning DCH

Every FINWIRES story that references DCH, newest first.

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were lower late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 2%.In corporate news, the United Auto Workers has called a strike at a Michigan factory owned by Dauch (DCH), a supplier of axles and driveline components for General Motors (GM) pickup trucks. GM shares were down 0.5%, and Dauch fell nearly 5%.MGM Resorts International (MGM) shares jumped past 16% after the firm confirmed that it received an offer from People Inc. (IAC) to acquire all MGM shares that it does not already own for $48.30 per share in cash.Taylor Morrison Home (TMHC) shares surged 22% after the homebuilder agreed to be acquired and taken private by conglomerate Berkshire Hathaway (BRK.A, BRK.B) in an all-cash deal with an equity value of about $6.8 billion.Winnebago Industries (WGO) shares fell 2% after Northcoast downgraded the stock to neutral from buy.

$DCH$GM$MGM$TMHC$WGO

Sectors13d ago

Sector Update: Consumer

Consumer stocks were lower late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 1.8%.In corporate news, the United Auto Workers has called a strike at a Michigan factory owned by Dauch (DCH), a supplier of axles and driveline components for General Motors (GM) pickup trucks. GM shares were down 0.2%, and Dauch fell 5%.

$DCH$GM

Wire14d ago

Update: UAW Calls Strike at Key GM Supplier Plant in Michigan

(Updates with statement from Dauch in the sixth paragraph).The United Auto Workers has called a strike at a Michigan factory owned by Dauch (DCH), a supplier of axles and driveline components for General Motors (GM) pickup trucks.The union said that about 1,000 unionized workers at the Michigan plant were set to walk off the job at midnight Sunday after contract talks failed to produce an agreement.The UAW said it is seeking higher wages as workers accepted significant pay cuts to help keep the plant operating during the 2008 financial crisis.According to the union, top wages at the facility currently reach $22 per hour after a five-year progression, compared with as much as $29 per hour in 2008.General Motors said in an emailed statement Monday that it is "closely monitoring" the labor dispute at Dauch's Three Rivers plant and assessing any potential impact on its operations.In a statement released on the London Stock Exchange, Dauch confirmed that it had not yet agreed on the terms of a new collective bargaining agreement with the union.Price: $81.92, Change: $-1.32, Percent Change: -1.59%

$DCH$GM

US Markets62d ago

Prolonged Iran War Could Drive Outlook Cuts at US Auto Companies in 2026 Second Half, RBC Says

US automotive companies could lower outlooks in the second half of this year in case of a prolonged Middle East conflict or if the latest oil price shock "adversely" affects consumer confidence, RBC Capital Markets said in a note e-mailed Monday.The US-Israel war with Iran that started at the end of February has sent energy prices surging amid the closure of the Strait of Hormuz, the world's most important chokepoint for crude flows. Oil prices hovered around $100 a barrel intraday Monday as the start of a US blockade of maritime traffic around Iran's ports reportedly became effective.As most auto suppliers typically maintain one to two quarters of inventory, they are likely to be shielded from increasing raw materials costs in the near term, RBC analyst Tom Narayan said in a note to clients, adding that potential cost hikes in the future can be passed along to original equipment manufacturers. Overall, US suppliers have "negligible exposure" to the Middle East, according to the note."Importantly, we think neither OEMs nor suppliers (will) cut guidance in (the first quarter)," Narayan wrote. "That said, if the Iran conflict is prolonged or if higher oil prices adversely impact consumer confidence, we could see guidance cuts in (the second half of 2026)."Last week, a survey by the University of Michigan showed that US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict.Compared with suppliers, US OEMs could face "greater macro sensitivity," considering higher difficulty in passing along commodity inflation costs and a potential delay in the resolution to the US-Mexico-Canada trade pact due to the Iran war, RBC said."In China, the revised subsidy framework and reduction of the EV purchase tax credit could adversely impact mass-market players, where western suppliers remain structurally under-indexed," Narayan said.In the long term, RBC projects Brent crude prices to be around $80 per barrel, with West Texas Intermediate oil seen at $75 a barrel, according to the note."While elevated fuel prices may support (electric vehicle) adoption in Europe, we expect limited mix shift in the US, where government incentives have been the primary demand driver for EV sales," Narayan said.RBC said it likes Autoliv (ALV), Dauch (DCH) and Aptiv (APTV) on a risk/reward basis. The brokerage reduced its price targets on the shares of several companies, including Ford Motor (F), General Motors (GM), Tesla (TSLA), Mobileye Global (MBLY), and Lucid Group (LCID).Earlier this month, Tesla's first-quarter deliveries missed Wall Street's estimates, with Wedbush Securities flagging a challenging demand environment for the EV maker.Price: $12.11, Change: $-0.02, Percent Change: -0.16%

$ALV$APTV$DCH$F$GM$LCID$MBLY$TSLA