We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Dana to Provide Driveshaft, Gearboxes for New York Wheel
Read MoreHide Full Article
Dana Incorporated (DAN - Free Report) announced that it is supplying driveshaft assemblies and gearboxes for the New York Wheel, the 630-foot observation wheel, which is presently under construction in St. George, Staten Island. Dana’s competitive advantage in supplying specific driveshaft solutions, power-transmission products and tailor-made solutions suited to the needs of the customers, have worked in its favor.
The construction of the New York Wheel is slated to be completed in early 2018. The giant wheel includes 36 pods, each of which can carry 40 people. The wheel will take visitors on a relaxing ride with stunning sight of the Statue of Liberty and Manhattan skyline. VDL Steelweld has been roped in to manufacture the pods, whereas Dana is providing driveshafts to hold up the leveling system for maintaining balance as the wheel rotates.
Maumee, OH-based Dana is the provider of technology driveline, sealing and thermal-management products for vehicle manufacturers. In addition to driveshaft assemblies, Dana is also supplying motion system products to the Netherlands-based engineering company Starneth for the New York Wheel project. In fact, 32 planetary gearboxes will be used for smoothly rotating the wheel.
Dana has outperformed the Zacks categorized Automotive – Original Equipment industry in the last three months. The company’s share price has increased 14.8%, while the industry has edged up 1.8%.
Currently, Dana sports a Zacks Rank #1 (Strong Buy).
Expected long-term growth rate for Allison Transmission, Fiat Chrysler and Ferrari are 11%, 22.4% and 14.1%, respectively.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Dana to Provide Driveshaft, Gearboxes for New York Wheel
Dana Incorporated (DAN - Free Report) announced that it is supplying driveshaft assemblies and gearboxes for the New York Wheel, the 630-foot observation wheel, which is presently under construction in St. George, Staten Island. Dana’s competitive advantage in supplying specific driveshaft solutions, power-transmission products and tailor-made solutions suited to the needs of the customers, have worked in its favor.
The construction of the New York Wheel is slated to be completed in early 2018. The giant wheel includes 36 pods, each of which can carry 40 people. The wheel will take visitors on a relaxing ride with stunning sight of the Statue of Liberty and Manhattan skyline. VDL Steelweld has been roped in to manufacture the pods, whereas Dana is providing driveshafts to hold up the leveling system for maintaining balance as the wheel rotates.
Maumee, OH-based Dana is the provider of technology driveline, sealing and thermal-management products for vehicle manufacturers. In addition to driveshaft assemblies, Dana is also supplying motion system products to the Netherlands-based engineering company Starneth for the New York Wheel project. In fact, 32 planetary gearboxes will be used for smoothly rotating the wheel.
Dana has outperformed the Zacks categorized Automotive – Original Equipment industry in the last three months. The company’s share price has increased 14.8%, while the industry has edged up 1.8%.
Currently, Dana sports a Zacks Rank #1 (Strong Buy).
Better-ranked stocks in the auto space include Allison Transmission Holdings Inc. (ALSN - Free Report) , Fiat Chrysler Automobiles N.V. and Ferrari N.V. (RACE - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Expected long-term growth rate for Allison Transmission, Fiat Chrysler and Ferrari are 11%, 22.4% and 14.1%, respectively.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>