BUZZ-Dana shares soar after cost reduction target boosted

Reuters

25 Jan

BUZZ-Dana shares soar after cost reduction target boosted

** Shares of Dana DAN.N soar 15.4% to $15.27, highest since Sept 2023, on Fri after auto components provider releases preliminary 2024 results, FY 2025 guidance, and boosts cost-savings plans

** DAN shares top performers in S&P 1500 .SPSUP and tracking biggest one-day pct advance since Apr 2020

** Maumee, Ohio-based firm early Fri said cost-savings actions are "well underway" and it increased cost reduction target to $300 mln, up from $200 mln, by 2026

** "Our 2025 outlook reinforces the impact of these actions, which will help solidify Dana's leadership position and enable us to capitalize on the strength of our traditional on-highway businesses while remaining a leader in the EV (electric vehicle) transition," CEO R. Bruce McDonald said

** Co expects preliminary sales for FY 2024 of $10.3 bln, in-line with prior guidance, and sees 2025 sales of $9.53-$10.03 bln

** Analysts had expected 2025 sales of $9.83 bln, per LSEG

** Co also announced changes to reportable business segments to take effect in Q1. New segments will be: Light Vehicle Systems and Commercial Vehicle Systems

** With move on Fri, shares up ~32% YTD, following 21% drop in 2024

** Of 9 analysts covering DAN, recommendation breakdown is 5 "buy", 2 "hold" and 2 "sell" ratings; median PT of $16 up from $14 a month ago and from $9 on Nov 24 - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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Bruce McDonald said</p><p>** Co expects preliminary sales for FY 2024 of $10.3 bln, in-line with prior guidance, and sees 2025 sales of $9.53-$10.03 bln</p><p>** Analysts had expected 2025 sales of $9.83 bln, per LSEG</p><p>** Co also announced changes to reportable business segments to take effect in Q1. New segments will be: Light Vehicle Systems and Commercial Vehicle Systems</p><p>** With move on Fri, shares up ~32% YTD, following 21% drop in 2024</p><p>** Of 9 analysts covering DAN, recommendation breakdown is 5 \"buy\", 2 \"hold\" and 2 \"sell\" ratings; median PT of $16 up from $14 a month ago and from $9 on Nov 24 - LSEG</p><p>(Lance Tupper is a Reuters market analyst. The views expressed are his own)</p><p>((lance.tupper@tr.com 1-646-279-6380))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4124","symbol_name":"机动车零配件与设备","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250124:nL6N3OK0NM:1","article_id":"2506898431","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2506898431","pubTimestamp":1737737528,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Dana shares soar after cost reduction target boosted** Shares of Dana DAN.N soar 15.4% to $15.27, highest since Sept 2023, on Fri after auto components provider releases preliminary 2024 results,","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4124":"机动车零配件与设备","DAN":"达纳"},"translate_title":"成本削减目标提高后BUZZ-Dana股价飙升","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DAN":0.9},"content_text":"BUZZ-Dana shares soar after cost reduction target boosted** Shares of Dana DAN.N soar 15.4% to $15.27, highest since Sept 2023, on Fri after auto components provider releases preliminary 2024 results, FY 2025 guidance, and boosts cost-savings plans** DAN shares top performers in S&P 1500 .SPSUP and tracking biggest one-day pct advance since Apr 2020** Maumee, Ohio-based firm early Fri said cost-savings actions are \"well underway\" and it increased cost reduction target to $300 mln, up from $200 mln, by 2026** \"Our 2025 outlook reinforces the impact of these actions, which will help solidify Dana's leadership position and enable us to capitalize on the strength of our traditional on-highway businesses while remaining a leader in the EV (electric vehicle) transition,\" CEO R. Bruce McDonald said** Co expects preliminary sales for FY 2024 of $10.3 bln, in-line with prior guidance, and sees 2025 sales of $9.53-$10.03 bln** Analysts had expected 2025 sales of $9.83 bln, per LSEG** Co also announced changes to reportable business segments to take effect in Q1. New segments will be: Light Vehicle Systems and Commercial Vehicle Systems** With move on Fri, shares up ~32% YTD, following 21% drop in 2024** Of 9 analysts covering DAN, recommendation breakdown is 5 \"buy\", 2 \"hold\" and 2 \"sell\" ratings; median PT of $16 up from $14 a month ago and from $9 on Nov 24 - LSEG(Lance Tupper is a Reuters market analyst. The views expressed are his own)((lance.tupper@tr.com 1-646-279-6380))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"event","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}