Why Volkswagen Stock Is Higher This Afternoon

NEW YORK (TheStreet) -- Shares of Volkswagen  (VLKAY) are up 0.86% to $50.43 after the automobile manufacturer awarded the production of a new midsize SUV to the Chattanooga plant in Tennessee, as it invests about $900 million and creates 2,000 additional jobs in the U.S.

About $600 million will be invested in Tennessee.

Must Read: Warren Buffett's 25 Favorite Growth Stocks

 

VLKAY ChartVLKAY data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

Asian Markets Decline in Morning Trading

Asian Markets Decline in Morning Trading

Verizon Proves Resilient in Sell-Off; Decoding the Facebook Short -- ICYMI

Verizon Proves Resilient in Sell-Off; Decoding the Facebook Short -- ICYMI

Three Big Factors That Rocked the Stock Market Tuesday

Three Big Factors That Rocked the Stock Market Tuesday

Dow Tumbles Over 400 Points; S&P 500 and Nasdaq Also Finish Lower

Dow Tumbles Over 400 Points; S&P 500 and Nasdaq Also Finish Lower

Caterpillar Bulldozes Industrial Sector With Bad News on Earnings Call

Caterpillar Bulldozes Industrial Sector With Bad News on Earnings Call