Fiat Chrysler shares tank on report of pending EPA action on emissions

Reuters

Thu, Jan 12, 2017, 11:00 AM

MILAN (Reuters) - Fiat Chrysler shares slumped on Thursday after a Reuters report said the U.S. Environmental Protection Agency will accuse the group of using software that allowed excess diesel emissions in just over 100,000 U.S trucks and SUVs sold since 2014.

The Milan-listed shares in the Italian car maker erased more than one tenth of their value in just 20 minutes of trading after the news broke. The stock was automatically suspended several times because of the heavy losses and was last down 13 percent.

The EPA will announce the findings at an 11 a.m. conference call, Reuters said in the source-based.

Fiat Chrysler declined to comment.

(Reporting by Agnieszka Flak; editing by Danilo Masoni)

Here's Exactly When Social Security Recipients Can Expect Benefit Cuts, According to the Latest Trustees Report
Social Security payments may be subject to cuts. Here's what the timing looks like.
Motley Fool
Analysts reboot Palantir stock price target after earnings
This is what could happen next to Palantir shares.
TheStreet
Shopify Earnings Top Views. E-Commerce Stock Plunges On Profit Margin Outlook
Shopify reported Q1 earnings that topped analyst estimates while revenue edged by views. But shares plunged on Q2 guidance.
Investor's Business Daily
Luminar says Tesla is biggest customer for its lidar sensors
Luminar Technologies, a maker of lidar sensors for self-driving cars, said on Tuesday that Tesla was the largest customer for its sensors in the first quarter, accounting for more than 10% of its total revenue of $21 million during the period. Tesla's electric vehicles that are sold do not use lidars and it is not clear where Tesla used the sensors.
Reuters
3 Ridiculously Undervalued Stocks to Buy Hand Over Fist Right Now in May
Investing in cheap stocks brings unique risks because there is usually a reason the companies are undervalued.
Motley Fool
Morgan Stanley Predicts up to 110% Rally for These 2 ‘Strong Buy’ Stocks
Uncertainty is the word of the day, in reference to the near-term economic future. Sentiment will hinge on the inflation numbers due out next week. March’s figure rose to 3.5%, and April’s job numbers showed a marked slowing in the labor market; that combination has stoked fears of stagflation. But – corporate earnings from Q1 are beating expectations, and the stock market has taken a turn for the better with the S&P 500 closing just below 5,200 yesterday. Economic strategists are still optimist
TipRanks
Andreessen Horowitz partner says Google is an ‘amazing example’ of employing people in ‘BS jobs’: ‘Half the white-collar staff probably does no real work’
“Those people aren’t just being useless (and being coddled to think useless jobs actually matter—they don’t), but they are also taking money away from the rest of the workforce’s retirement programs.”
Fortune
Exclusive: In Tesla Autopilot probe, US prosecutors focus on securities, wire fraud
U.S. prosecutors are examining whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles’ self-driving capabilities, three people familiar with the matter told Reuters. Tesla’s Autopilot and Full Self-Driving systems assist with steering, braking and lane changes - but are not fully autonomous. While Tesla has warned drivers to stay ready to take over driving, the Justice Department is examining other statements by Tesla and Chief Executive Elon Musk suggesting its cars can drive themselves.
Reuters
Uber Stocks Drops After Earnings Reveal Surprise Loss. Here’s What Happened.
Uber Technologies stock was falling Wednesday after the ride-sharing company posted a first-quarter loss when analysts expected a profit. Uber reported a first-quarter adjusted loss of 32 cents a share on revenue of $10.13 billion. It includes a $721 million headwind due to “unrealized losses related to the revaluation of Uber’s equity investments.”
Barrons.com
Signs of the Top? Warren Buffett Selling His Biggest Holding
Warren Buffett is selling his largest holding, and that's a huge deal.
Motley Fool

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

Fiat Chrysler shares tank on report of pending EPA action on emissions

Recommended Stories

Here's Exactly When Social Security Recipients Can Expect Benefit Cuts, According to the Latest Trustees Report

Analysts reboot Palantir stock price target after earnings

Shopify Earnings Top Views. E-Commerce Stock Plunges On Profit Margin Outlook

Luminar says Tesla is biggest customer for its lidar sensors

3 Ridiculously Undervalued Stocks to Buy Hand Over Fist Right Now in May

Morgan Stanley Predicts up to 110% Rally for These 2 ‘Strong Buy’ Stocks

Andreessen Horowitz partner says Google is an ‘amazing example’ of employing people in ‘BS jobs’: ‘Half the white-collar staff probably does no real work’

Exclusive: In Tesla Autopilot probe, US prosecutors focus on securities, wire fraud

Uber Stocks Drops After Earnings Reveal Surprise Loss. Here’s What Happened.

Signs of the Top? Warren Buffett Selling His Biggest Holding