Why Fiat (FIATY) Stock Is Gaining Today

NEW YORK (TheStreet) -- Shares of Fiat (FIATY) are up 1.95% to $10.48 after the company denied a magazine report saying it's in merger talks with Volkswagen (VLKAY), while the German carmaker said it had no takeovers on its agenda, Reuters said.

Germany's Manager Magazin, citing unnamed sources,  said that Volkswagen Chairman Ferdinand Piech had held talks with the owners of Fiat Chrysler about buying all or part of the group that was formed this year from the merger of Italian and U.S. car makers, Reuters added.

FIATY ChartFIATY 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

OPEC, Bank Stress Tests, Disney and Tesla - 5 Things You Must Know

OPEC, Bank Stress Tests, Disney and Tesla - 5 Things You Must Know

Big Banks Pass the Stress Tests and 4 Other Stories to Watch Friday Morning

Big Banks Pass the Stress Tests and 4 Other Stories to Watch Friday Morning

OPEC Debating 1 Million Barrel Oil Market Boost as Iran Signals Support

OPEC Debating 1 Million Barrel Oil Market Boost as Iran Signals Support

Dow Set to Snap 8-Day Losing Streak as Stocks Recover, But Trade War Lingers

Dow Set to Snap 8-Day Losing Streak as Stocks Recover, But Trade War Lingers

Foxconn Chairman Terry Gou: US and China Are Waging a Global 'Tech War'

Foxconn Chairman Terry Gou: US and China Are Waging a Global 'Tech War'