{
Schaeffler AG

Companies

}
UBS downgrades automotive suppliers causing stock declines across the sector
UBS has dampened sentiment in the automotive sector by downgrading its recommendations for suppliers Forvia and Valeo, leading to declines of 4.9% and 2.9%, respectively. Schaeffler also fell by 4.6%, while Mercedes-Benz dropped 2.0%. In contrast, BMW saw a slight increase of 0.3% due to positive remarks, and Continental's loss was limited to 0.6% thanks to its strong tire business.
n-tv.de
Schaeffler AG Valeo SE Continental Aktiengesellschaft MERCEDES-BENZ GROUP FORVIA DEU Show more
TradFi, Market Report
15:46 03.12.2024
European car industry faces crisis as profits plummet and jobs vanish
The European car industry is facing a severe crisis, with major manufacturers like VW, Audi, and Nissan reporting significant profit declines and mass layoffs. The VW Group has seen profits drop over 60% in the third quarter, prompting strict cost-cutting measures, plant closures, and thousands of job cuts across the sector.
Blick
Euro SCI Michelin Mercedes-Benz Group AG Valeo SE Schaeffler AG VW-Group-Schafflund e. V. BMW Bank GmbH AUDI AG Nissan Motor Co., Ltd. Stellantis N.V. DEU Ferdinand Dudenhöffer Show more
Finance & Economy, Market Report
17:24 09.11.2024
Schaeffler AG maintains neutral rating amid diverse automotive and industrial operations
Schaeffler AG, a German manufacturer of automotive parts, operates in two main sectors: Automotive and Industrial. The Automotive sector includes subdivisions such as Engine Systems, Transmission Systems, Chassis Systems, and the Automotive Aftermarket, while the Industrial segment is managed regionally across Europe, the Americas, Greater China, and Asia/Pacific. The company is also engaged in production digitization.
Zonebourse
Euro Schaeffler AG DEU Show more
TradFi, Market Report
11:09 05.11.2024
schaeffler announces significant job cuts amid ongoing strikes in automotive sector
In Bavaria, IG Metall has initiated warning strikes across 14 companies, with an additional 7 joining later, impacting the automotive sector. Schaeffler plans to cut 4,700 jobs in Europe, including 2,800 in Germany, following a weak quarterly performance, prompting criticism from employee representatives. UBS and JPMorgan have both maintained a 'Neutral' rating for Schaeffler, with target prices set at 4.40 euros and 4.20 euros, respectively.
aktiencheck.de
Euro Schaeffler AG Vitesco Technologies GmbH IG Metall DEU Show more
TradFi, Market Report
10:21 05.11.2024
schaeffler to cut 4700 jobs amid declining earnings in automotive sector
Schaeffler AG plans to cut approximately 4,700 jobs in Europe and close two sites due to a significant downturn in the automotive sector, particularly affecting Volkswagen AG and other German manufacturers. Around 2,800 job losses will occur across 10 locations in Germany as part of a strategy aimed at saving about €290 million ($316 million) annually by the end of 2029.
bloomberg.com
Euro United States Dollar Schaeffler AG Volkswagen AG DEU
Finance & Economy, News Article
08:35 05.11.2024
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