Rotten Tomato Stocks
No Result
View All Result
  • News
    First Majestic Shares Drop After Mining at Nevada Operation Suspended

    First Majestic Shares Drop After Mining at Nevada Operation Suspended

    Wheat Futures Fall After Export Deal Reached

    Wheat Futures Fall After Export Deal Reached

    Toyota Industries Shares Slump After It Suspends Shipments of Certain Forklifts

    Toyota Industries Shares Slump After It Suspends Shipments of Certain Forklifts

    Lumen’s stock follows record annual decline with another steep plunge this year

    Lumen’s stock follows record annual decline with another steep plunge this year

  • NYSE
    Is ServiceNow (NYSE:NOW) Using Too Much Debt?

    Is ServiceNow (NYSE:NOW) Using Too Much Debt?

    McDonald’s Corp. stock falls Tuesday, underperforms market

    McDonald’s Corp. stock falls Tuesday, underperforms market

    Burford Capital (NYSE:BUR) Trading Down 5.3% Following Analyst Downgrade

    Burford Capital (NYSE:BUR) Trading Down 5.3% Following Analyst Downgrade

    Credit Suisse shares slump by two-thirds after UBS deal

    Credit Suisse shares slump by two-thirds after UBS deal

  • NASDAQ
    Check-Cap Falls 43% After C-Scan Study Update

    Check-Cap Falls 43% After C-Scan Study Update

    Equinix Inc. stock falls Tuesday, underperforms market

    Equinix Inc. stock falls Tuesday, underperforms market

    Halozyme Therapeutics (NASDAQ:HALO) Hits New 12-Month Low on Analyst Downgrade

    Halozyme Therapeutics (NASDAQ:HALO) Hits New 12-Month Low on Analyst Downgrade

    Aziyo Biologics Shares Fall to New Low After FDA Rejection

    Aziyo Biologics Shares Fall to New Low After FDA Rejection

  • OTC
    China Eastern Airlines 3Q Loss Widens on Low Travel Demand

    China Eastern Airlines 3Q Loss Widens on Low Travel Demand

    Corus Entertainment 4Q Profit Falls

    Corus Entertainment 4Q Profit Falls

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

  • TSX
    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    S&P/TSX composite falls on drop in materials sector, loonie tops 81 cents US

    S&P/TSX composite falls on drop in materials sector, loonie tops 81 cents US

    Bitcoin Is Falling: Should You Buy the Dip?

    Bitcoin Is Falling: Should You Buy the Dip?

    CN Rail Stock Is So Undervalued That it’s Absurd

    CN Rail Stock Is So Undervalued That it’s Absurd

  • News
    First Majestic Shares Drop After Mining at Nevada Operation Suspended

    First Majestic Shares Drop After Mining at Nevada Operation Suspended

    Wheat Futures Fall After Export Deal Reached

    Wheat Futures Fall After Export Deal Reached

    Toyota Industries Shares Slump After It Suspends Shipments of Certain Forklifts

    Toyota Industries Shares Slump After It Suspends Shipments of Certain Forklifts

    Lumen’s stock follows record annual decline with another steep plunge this year

    Lumen’s stock follows record annual decline with another steep plunge this year

  • NYSE
    Is ServiceNow (NYSE:NOW) Using Too Much Debt?

    Is ServiceNow (NYSE:NOW) Using Too Much Debt?

    McDonald’s Corp. stock falls Tuesday, underperforms market

    McDonald’s Corp. stock falls Tuesday, underperforms market

    Burford Capital (NYSE:BUR) Trading Down 5.3% Following Analyst Downgrade

    Burford Capital (NYSE:BUR) Trading Down 5.3% Following Analyst Downgrade

    Credit Suisse shares slump by two-thirds after UBS deal

    Credit Suisse shares slump by two-thirds after UBS deal

  • NASDAQ
    Check-Cap Falls 43% After C-Scan Study Update

    Check-Cap Falls 43% After C-Scan Study Update

    Equinix Inc. stock falls Tuesday, underperforms market

    Equinix Inc. stock falls Tuesday, underperforms market

    Halozyme Therapeutics (NASDAQ:HALO) Hits New 12-Month Low on Analyst Downgrade

    Halozyme Therapeutics (NASDAQ:HALO) Hits New 12-Month Low on Analyst Downgrade

    Aziyo Biologics Shares Fall to New Low After FDA Rejection

    Aziyo Biologics Shares Fall to New Low After FDA Rejection

  • OTC
    China Eastern Airlines 3Q Loss Widens on Low Travel Demand

    China Eastern Airlines 3Q Loss Widens on Low Travel Demand

    Corus Entertainment 4Q Profit Falls

    Corus Entertainment 4Q Profit Falls

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

  • TSX
    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    S&P/TSX composite falls on drop in materials sector, loonie tops 81 cents US

    S&P/TSX composite falls on drop in materials sector, loonie tops 81 cents US

    Bitcoin Is Falling: Should You Buy the Dip?

    Bitcoin Is Falling: Should You Buy the Dip?

    CN Rail Stock Is So Undervalued That it’s Absurd

    CN Rail Stock Is So Undervalued That it’s Absurd

No Result
View All Result
Rotten Tomato Stocks
No Result
View All Result

A Billion-Dollar Fine for Daimler’s Diesel Woes

avatar by Editor
November 20, 2019
0
A Billion-Dollar Fine for Daimler’s Diesel Woes

German prosecutors have fined automaker Daimler AG (OTC:DMLRY), the corporate parent of Mercedes-Benz, nearly a billion dollars to settle a probe into whether Daimler sold diesel-powered vehicles that cheated on emissions testing. 

What happened

Prosecutors in Stuttgart, where Daimler is headquartered, found that the company sold about 684,000 vehicles, starting in 2008, that didn’t fully comply with European Union regulations around emissions of oxides of nitrogen. (Oxides of nitrogen are among the pollutants that cause smog.)

Without admitting guilt, Daimler agreed to pay a fine of 4 million euros for “negligent violation of supervisory duties” and to give up an additional 866 million euros in profit, for a total payment of 870 million euros (about $960 million). 

In a statement, Daimler said that the fines were below the statutory maximum because of its decision to cooperate fully with the authorities in Stuttgart and changes it has made to its internal regulatory-compliance systems.

The Stuttgart prosecutors’ case against Daimler is one of several that arose following investigations into Volkswagen AG‘s (OTC:VWAGY) diesel-emissions cheating scandal. Volkswagen subsidiary Porsche and parts supplier Robert Bosch GmbH both paid substantial fines earlier this year to settle similar cases with the Stuttgart authorities. 

What it means for Daimler

The good news for Daimler investors, such as it is, is that Daimler took a one-time charge of 2.55 billion euros in the second quarter for diesel-related legal costs that appears to cover this fine. The company said that the fine will not result in a “relevant additional negative effect” on its third-quarter earnings. 

Daimler cut its full-year profit guidance in July, mostly because of concerns about the potential costs of diesel-related litigation and enforcement actions. While it said at the time that it still expects sales to be roughly equal to its 2018 total (3.4 million vehicles) and revenue to rise slightly from the 167.4 billion euros it generated last year, the company currently believes that its full-year earnings before interest and taxes will fall “significantly below” the 11.13 billion euros it earned on the same basis in 2018.

Daimler CEO Ola Kallenius has said he will spend the remainder of 2019 focused on improving operating performance and cash flow generation, while looking at ways to trim costs that could include eliminating models from the company’s global product portfolio.

For Daimler investors who have been concerned about the potential costs of diesel-related litigation, this settlement is a significant step forward. But Daimler isn’t out of the woods yet: The company still faces huge costs related to the development of battery-electric vehicles at a moment when the world’s auto markets appear to be stalling.

Related Posts

China Eastern Airlines 3Q Loss Widens on Low Travel Demand
OTC

China Eastern Airlines 3Q Loss Widens on Low Travel Demand

November 1, 2021
Corus Entertainment 4Q Profit Falls
OTC

Corus Entertainment 4Q Profit Falls

October 22, 2021
Nintendo Co. Ltd. ADR falls Monday, still outperforms market
OTC

Nintendo Co. Ltd. ADR falls Monday, still outperforms market

September 28, 2021
Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%
OTC

Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

September 14, 2021
Load More
Next Post
GM Stock Sinks Over Bombshell Union Bribery Lawsuit

GM Stock Sinks Over Bombshell Union Bribery Lawsuit

POPULAR NEWS

CNH Industrial (NYSE:CNHI) Use Of Debt Could Be Considered Risky

CNH Industrial (NYSE:CNHI) Use Of Debt Could Be Considered Risky

April 14, 2021
CN Rail Stock Is So Undervalued That it’s Absurd

CN Rail Stock Is So Undervalued That it’s Absurd

May 2, 2021
US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

June 17, 2021
Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

September 14, 2021
10 Warning Signs That Should Tell You “This Stock is in Trouble”

10 Warning Signs That Should Tell You “This Stock is in Trouble”

November 11, 2019

EDITOR'S PICK

Coupa Software’s stock fall 9% on Q3 results

Coupa Software’s stock fall 9% on Q3 results

December 7, 2021
Bill.com (NYSE:BILL) Shares Down 10.8% After Analyst Downgrade

Bill.com (NYSE:BILL) Shares Down 10.8% After Analyst Downgrade

May 24, 2022
Is Autodesk (NASDAQ:ADSK) A Risky Investment?

Is Autodesk (NASDAQ:ADSK) A Risky Investment?

May 24, 2021
US Home Construction Declines 1.6% in September

US Home Construction Declines 1.6% in September

October 21, 2021

Stay Updated

Get breaking news delivered straight into your inbox

Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Rotten Tomato stocks is a wholly-owned subsidiary of Grainne Capital Limited.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

Rotten Tomato Stocks cover the companies and markets that are declining, failing or headed for disaster. We help investors spot the down tends and recognize when something smells rotten.

RECENT POSTS

First Majestic Shares Drop After Mining at Nevada Operation Suspended

Is ServiceNow (NYSE:NOW) Using Too Much Debt?

McDonald’s Corp. stock falls Tuesday, underperforms market

POPULAR POSTS

Burford Capital (NYSE:BUR) Trading Down 5.3% Following Analyst Downgrade

Check-Cap Falls 43% After C-Scan Study Update

Equinix Inc. stock falls Tuesday, underperforms market

© Copyright 2023 RottenTomatoStocks. All Rights Reserved 

Disclaimer | Privacy Policy

No Result
View All Result
  • HOME
  • NEWS
  • NYSE
  • NASDAQ
  • OTC
  • TSX

© 2021 RottenTomatoStocks.com

error: Content is protected !!
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.