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.
Volkswagen (VLKAY) Faces $1.2B Fine for Emission Scandal
Read MoreHide Full Article
Volkswagen AG was imposed a fine of €1 billion ($1.18 billion) by the German authorities over diesel emission scandal, per Reuters. This is one of the highest fines leveled against a company by the German authority. This German automaker accepted the allegations and shouldered responsibility for that.
Volkswagen failed to adequately supervise activities of the engine development department. This resulted in 10.7 million diesel vehicles with illegal emission-controlling software being sold worldwide. In fact, the auto giant is grappled with the same scandal since 2015, which surfaced in the United States. The German automaker has already paid $20 billion in fines and civil settlements in the United States.
This penalty is the latest blow to the German auto industry, which is grappling with diesel emission scandals. Recently, another German vehicle giant, Daimler AG has been ordered by the government to recall about 240,000 cars, fitted with prohibited emission-control devices.
Over the past six months, shares of Volkswagen have underperformed the industry it belongs to. During this period, shares of the company have declined 6.9% while the industry edged down 1.1%.
While Daimler currently carries a Zacks Rank #2 (Buy), Volkswagen has a Zacks Rank #3 (Hold). Daimler and Volkswagen have an expected long-term growth rate of 5% and 6.2%, respectively.
Oshkosh has an expected long-term growth rate of 18.3%. Shares of the company have risen 10.2% over the past year.
Allison Transmission Holdings has an expected long-term growth rate of 10%. Over the past year, shares of the company have gained 11.1%.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Image: Bigstock
Volkswagen (VLKAY) Faces $1.2B Fine for Emission Scandal
Volkswagen AG was imposed a fine of €1 billion ($1.18 billion) by the German authorities over diesel emission scandal, per Reuters. This is one of the highest fines leveled against a company by the German authority. This German automaker accepted the allegations and shouldered responsibility for that.
Volkswagen failed to adequately supervise activities of the engine development department. This resulted in 10.7 million diesel vehicles with illegal emission-controlling software being sold worldwide. In fact, the auto giant is grappled with the same scandal since 2015, which surfaced in the United States. The German automaker has already paid $20 billion in fines and civil settlements in the United States.
This penalty is the latest blow to the German auto industry, which is grappling with diesel emission scandals. Recently, another German vehicle giant, Daimler AG has been ordered by the government to recall about 240,000 cars, fitted with prohibited emission-control devices.
Over the past six months, shares of Volkswagen have underperformed the industry it belongs to. During this period, shares of the company have declined 6.9% while the industry edged down 1.1%.
While Daimler currently carries a Zacks Rank #2 (Buy), Volkswagen has a Zacks Rank #3 (Hold). Daimler and Volkswagen have an expected long-term growth rate of 5% and 6.2%, respectively.
A few top-ranked stocks in the auto space are Oshkosh Corporation (OSK - Free Report) and Allison Transmission Holdings, Inc. (ALSN - Free Report) , each sporting a Zacks Rank # 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Oshkosh has an expected long-term growth rate of 18.3%. Shares of the company have risen 10.2% over the past year.
Allison Transmission Holdings has an expected long-term growth rate of 10%. Over the past year, shares of the company have gained 11.1%.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>