Volkswagen plans to increase its stake in MAN SE, the truck maker, to above 50% and fold the company into a new commercial-vehicles group. Volkswagen currently owns 30% of MAN SE.
Volkswagen reported earnings of $0.43 per share in its fiscal quarter ending Sep-09, falling short of analyst expectations of $0.99 by 0.56, or 56.57%.
Volkswagen reported earnings of $.71 per share in its fiscal quarter ending Jun-09, beating analyst expectations of $.43 per share by $.28 per share, or 65.12%.
Volkswagen reported earnings of $-.82 per share in its fiscal quarter ending Mar-09, falling short of analyst expectations of $-.17 per share by $.65 per share, or -382.35%.
Volkswagen shares rose nearly 4X as a result of a massive short squeeze. Volkwagen was, at the time of this jump, the most shorted stock on the DAX index (meaning sophisticated investors such as hedge funds were betting the price would go down by borrowing and selling shares which they would have to buy back later). These investors had shorted VLKAY on the expectation that a bid from Porsche would fall through and the stock price would drop - however, Porsche on Oct 26 announced it would increase its bid for the company. As a result, hedge funds were required, by their brokers, to "cover" their short positions by buying the stock - with so many institutions forced to buy, the price when through the roof in a way that was entirely disconnected from market fundamentals - sort of the opposite of a run on the bank - a run *to* the bank.
Volkswagen reported earnings of $3.02 per share in its fiscal quarter ending Sep-09, beating analyst expectations of $2.52 per share by $.5 per share, or 19.76%.
Volkswagen reported earnings of $4.12 per share in its fiscal quarter ending sep-08, beating analyst expectations of $3.79 per share by $.33 per share, or 8.71%.
The legislation passed today increases the federal standard auto makers must meet to an industry wide 35 mpg for passengers cars, SUVs and small trucks. The standard for cars today is 27.5 mpg and for trucks and SUVs 22.2 mpg. It also ramps up production of ethanol use to 36 billion gallons a year by 2022, up from 6 billion gallons produced in 2007.
