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Nike Inc., Autoliv, Daimler, Ford and Navistar

  //house-home.news-articles.net/content/2009/12/21/nike-inc-autoliv-daimler-ford-and-navistar.html
  Published in House and Home on Monday, December 21st 2009 at 14:05 GMT by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

CHICAGO--([ BUSINESS WIRE ])--Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Nike Inc. (NYSE: [ NKE ]), Autoliv (NYSE: [ ALV ]), Daimler (NYSE: [ DAI ]), Ford (NYSE: [ F ]) and Navistar (NYSE: [ NAV ]).

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Here are highlights from Friday's Analyst Blog:

Nike Q2 Earnings Down

Nike Inc. (NYSE: [ NKE ]) reported fiscal second quarter net income of $375.4 million or 77 cents per share, compared to $391 million or 81 cents per share in the year-earlier quarter. Although earnings per share decreased 5% year over year, it exceeded the Zacks Consensus Estimate by 6 cents.

Total revenues decreased 4% during the quarter to $4.4 billion, compared to $4.6 billion in the year-ago period, primarily due to the continued economic downturn that led to a cut in consumer discretionary spending. Revenues fell across all the geographic regions, except the Emerging Markets, where revenue increased 8% year-over-year.

Autoliv Bags Smartcar Contract

Autoliv (NYSE: [ ALV ]) has been awarded the safety products contracts for the smart fortwo from Daimler (NYSE: [ DAI ]). The smart fortwo is a micro-car that achieves 33 mpg in the city and 41 mpg on the highway according to 2008 EPA testing requirements. It is manufactured in the Mercedes-Benz division of Daimler.

Currently, the safety products for the smart fortwo are supplied by the Michigan-based auto parts manufacturer, Delphi Corporation, formerly a subsidiary of General Motors. But following the acquisition of certain assets of Delphi's European airbag and steering wheel operations by Autoliv, the products will be supplied by the latter.

Earlier this year, Delphi had announced its plan to exit from its Occupant Protection Safety (OPS) business in North America, Europe and Asia by the end of the year. The transaction is expected to close by Dec 31.

Autoliv will assume control of Delphi's airbag and seatbelt assets in North America, which will be consolidated into the former's existing facilities. Autoliv will also gain control of Delphi's steering wheel operations in Matamoros, Mexico.

The OPS business has customers such as General Motors, Hyundai, Ford (NYSE: [ F ]), Daimlerand Navistar (NYSE: [ NAV ]), with expected combined sales of $125 million in 2010.

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