The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0906 GMT - Ferrari's fourth-quarter results beat expectations, but management maintained the message that progress to 2030 will be steady, HSBC analysts write. The bank says the fourth quarter is interesting as volumes were down both on year and on quarter, but the average revenue per unit was up 8% on quarter, ahead of expectations. "This was said to be primarily higher shipments of Specials [models], which means we are still to see the full benefit of the F80 - which retails at circa 8x the group average." The company's extended backlog gives management more control than ever to reach their guidance targets, while protecting residual values, HSBC adds. It maintains its hold rating and 345 euros target price on the stock. Shares rise 0.6% to 312.10 euros. (dominic.chopping@wsj.com)

0830 GMT - European defense stocks fall on Wednesday early morning trade after the Financial Times reported that Ukrainian President Volodymyr Zelensky intends to announce a plan for presidential elections and a referendum on a potential peace deal on February 24. Amsterdam-listed CSG falls 3.55%, Renk Group loses 2.5%, QinetiQ and Dassault Aviation drop 2%, Thales trades down 1.6%, and Rheinmetall is down 1.8%. Meanwhile, BAE Systems and Leonardo are both down 1.3%. (cristina.gallardo@wsj.com)

0825 GMT - Sime Darby will likely benefit from Malaysia's delayed revision of excise duties on locally assembled vehicles, which is seen as supporting auto demand in 1H, CGS International analyst Jacquelyn Yow says in a note. Demand for Toyota, Perodua and BMW models will likely buoy contributions to Sime Darby associate UMW, she says. Despite the rising proportion of electric vehicles, Yow thinks the market underestimates the resiliency of Perodua's market share, estimated around 44%. She is positive on Sime Darby's industrial segment's long-term outlook, supported by infrastructure projects, sustained commodity demand in Australia, potentially higher mining activity amid elevated copper prices, and rising data-center investments in Malaysia. CGS maintains its add rating on the conglomerate and keeps its target price at MYR2.38. Shares are 5.0% higher at MYR2.31. (yingxian.wong@wsj.com)

0804 GMT - TKMS's upgraded sales guidance for fiscal 2026 should boost consensus estimates slightly, says MWB-Research analyst Jens-Peter Rieck. The German shipbuilders' execution of its existing backlog is enough to drive the equity story, he adds. He describes the submarine maker as MWB-Research's top pick in the German defense sector. Shares closed Monday at 94.75 euros. (cristina.gallardo@wsj.com)

0742 GMT - TKMS's decision to increase its sales guidance for fiscal 2026 was expected, Bernstein analysts say. "We had seen the previous guidance as overly conservative and expected an increase," Bernstein analysts write in a research note, calling the new outlook "more ambitious" and likely to drive upgrades to consensus estimates. New potential orders from India and Canada could also support the stock, Bernstein said, adding that the shares are pricing a near-bull case scenario. Shares closed at 94.75 euros. (cristina.gallardo@wsj.com)

0703 GMT - German shipbuilder TKMS shares could rise Wednesday after increasing its fiscal 2026 sales guidance, Citi analyst Charles Armitage says. The company reported flat first-quarter earnings, its first set of results for the period as an independent company, he notes. Sales went down 1% to 545 million euros, and adjusted EBIT was flat at 26 million euros. Shares closed at 94.75 euros. (cristina.gallardo@wsj.com)

0526 GMT - Sansera Engineering's growth visibility is likely to remain high, Nomura analysts say in a research report. The Indian company has a strong order book in the aerospace, defence and semiconductor segment. It also has substantial long-term potential in new segments such as semiconductors and energy storage, the analysts say. According to management, the newly inaugurated Pantnagar plant of the manufacturer of complex and critical precision engineered components will drive market-share gains in two-wheeler crankshift assemblies with a potential revenue of INR5 billion. Nomura lifts its FY 2026-2028 revenue growth estimates for Sansera Engineering by 3%-6%. It raises the stock's target price to INR2,342.00 from INR1,954.00 with an unchanged buy rating. Shares are 3.7% higher at INR2,109.95. (ronnie.harui@wsj.com)

0200 GMT - MISC's recent contract with ExxonMobil PNG represents a positive development, MBSB Research says in a note. The company has secured a 15-year bareboat charter to provide a floating storage and offloading unit in Papua New Guinea, the country's first offshore floating facility, it notes. The deal is seen as a strategic entry into Papua New Guinea's energy sector through high-value, long-term infrastructure projects, it adds. MBSB says MISC's outlook is supported by its diversified business model and growth opportunities in tankers and floating production storage and offloading vessels, though much of the upside is already priced in. MBSB maintains a neutral rating on MISC and keeps its target price at MYR8.13. Shares are 0.1% lower at MYR8.09. (yingxian.wong@wsj.com)

2216 GMT [Dow Jones]--Ford says it is responding to consumer demand by pivoting away from purely electric vehicles. On a call with analysts, CFO Sherry House says the carmaker in December rationalized the role of pure EVs in its near-term product portfolio based on "changing market realities in the U.S." Based on changing conditions, Ford is increasing production of hybrids and more affordable trucks and SUVs. The goal is to balance its mix while increasing revenue, executives say. "I think the customer has spoken," CEO Jim Farley says. "That's the punch line." (katherine.hamilton@wsj.com)

2012 GMT - Ford Motor expects $7 billion in special charges through 2026 and 2027, mainly related to its pivot away from electric vehicles. The charge is related to Ford's "updated EV strategy," as well as its plan to take full ownership of a Tennessee battery plant, the automaker said. Ford said in December it would have a $19.5 billion impairment charge mainly tied to its EV business. Its EV business has lost $13 billion since 2023 amid changing policies and lackluster demand. Ford is shifting its focus to hybrid and gas-powered vehicles with a goal of redirecting EV investments to more profitable businesses. (katherine.hamilton@wsj.com)

2009 GMT - Ford Motor expects recent fires at its aluminum supplier's plant to weigh on its earnings in 2026. The carmaker expected earnings before interest and taxes to be $8 billion to $10 billion, which would be lower than analysts were expecting. In the first half of the year, costs related to finding alternative aluminum sources will dent earnings, Ford says. Multiple fires last year damaged an aluminum plant owned by Novelis, where Ford was a primary customer. Ford expects full-year volume to decline 5% in its Ford Blue business and be flat in Ford Pro, with both divisions impacted by the fires, it says. (katherine.hamilton@wsj.com)

1927 GMT - December retail sales disappointed, and the January data could look iffy when it lands as well, FHN Financial economist Chris Low writes. The Census Bureau's delayed publication schedule means that a partial picture of January numbers has already come into view, and it doesn't look promising. "Because the Census Bureau is still a month behind reporting sales, we already know January car sales were easily weak enough to result in a drop in retail sales next month, too, meaning we are set up for back-to-back consumer disappointment," Low writes. Low anticipates that consumer spending, a cornerstone of the economy, will only make a "very small" contribution to GDP growth in the first few months of 2026. (matt.grossman@wsj.com; @mattgrossman)

(END) Dow Jones Newswires

February 11, 2026 04:20 ET (09:20 GMT)

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