9.05 -0.02 (-0.22%)
After hours: 7:47PM EDT
|Bid||9.05 x 28000|
|Ask||9.06 x 46000|
|Day's Range||8.96 - 9.14|
|52 Week Range||7.41 - 10.56|
|Beta (3Y Monthly)||0.97|
|PE Ratio (TTM)||16.80|
|Forward Dividend & Yield||0.60 (6.64%)|
|1y Target Est||N/A|
By Tony Sagami As I pulled into a paid parking lot, I realized that I didn’t have any cash on me. No problem, there was a Bank of America Corp (NYSE: BAC ) ATM right just down the block. I had to wait ...
Foreign stocks, unusual stocks and big bets on a few industries helped Peter Lynch keep generating exceptional returns Continue reading...
U.S. Treasury Secretary Steven Mnuchin and presidential adviser Jared Kushner will lead Washington's delegation to an annual financial conference in Saudi Arabia, government sources said on Tuesday. The conference comes a year after U.S.-based journalist Jamal Khashoggi was murdered inside the Saudi consulate in Istanbul, prompting a global outcry.
Ford (F) is scheduled to report its third-quarter results on Wednesday after the market close. The stock has increased 21.4% year-to-date.
The company is introducing new truck models and trying to improve profit margins, all while global auto sales are falling. Analysts and investors will want an update on those issues.
One of Massachusetts’ public tech companies is expanding its robotic capabilities by scooping up another private startup in that space, continuing the streak of nine-figure acquisitions in the robotics industry that the Bay State has seen recently.
Land Rovers, Jeeps, and Toyotas are generally thought of as the kings of the off-roading community, but it was a Lexus, Rolls-Royce, and Mitsubishi that took home top honors at the fourth annual Rebelle Rally.
On October 18, Reuters reported that General Motors (GM) was planning to build premium electric pickup trucks and SUVs starting in late 2021.
MacRumors recently reported that Quanta Computer supplied autonomous driving solutions to Apple. Apple has tested its self-driving car in Cupertino.
Owens & Minor, Acuity Brands, Tesla, Ford and General Motors highlighted as Zacks Bull and Bear of the Day
People are still buying minivans, but not from Ford (NYSE: F) or General Motors (NYSE: GM). The only domestic manufacturer that still makes minivans is Fiat Chrysler (NYSE: FCAU), which sold 21,697 Chrysler Pacifica minivans in the third quarter of 2019, down 24 percent from a year earlier, and sold 27,456 Dodge Grand Caravan minivans in the quarter, down 20 percent from a year earlier. Automakers make more money selling trucks and sport utility vehicles than selling cars and minivans.
(Bloomberg) -- Ford Motor Co.’s Jim Hackett and Wall Street analysts started this year frustrated with one another. Sure, the automaker had been underperforming, but the chief executive appealed for time to show he was fixing things. He assured them the redesigned Explorer SUV rolling out months later would be a proof point.But rather than help the earnings results Ford delivers this week, the Explorer will be a hindrance. Sales have plunged as a plant plagued by personnel problems has struggled to get the new sport utility vehicle out the door. Thousands have been shipped 270 miles away to another Ford factory for rework.The botched Explorer launch puts Hackett back in the position he was early this year -- testing the patience of investors. A downbeat assessment of how long it will take to turn the automaker around already cost the company an investment-grade credit rating. By pointing to the SUV as one of the first products he influenced, the CEO staked his reputation on it.“From a design, styling and content standpoint, it hit the marks,” Jeff Schuster, a forecasting analyst for LMC Automotive, said of the Explorer. “But if you can’t get out of the gate, that certainly is going to put some question marks not only on his credibility, but from a consumer standpoint, on the vehicle itself.”The transformation of Ford’s Chicago assembly plant was one of the most complex in the company’s history, a spokeswoman said. The company is shipping the new Explorer -- the all-time best-selling SUV nameplate in the U.S. -- to dealers now and performing additional quality inspections as needed, she said.‘Big Negative’Ford probably will report on Wednesday that third-quarter profit slipped to 26 cents a share, according to analysts’ estimates compiled by Bloomberg, down from 29 cents a year ago. Automotive revenue is expected to dip to $34.3 billion, from $34.7 billion.“This Explorer issue is going to be a big negative for the quarter,” said David Whiston, an analyst for Morningstar who rates Ford the equivalent of a buy. “It’s a viciously competitive market and you don’t want to be missing one of your big hitters.”Ford shares have fallen 15% since Hackett, 64, took over in May 2017. The stock slumped 37% during the tenure of his predecessor, Mark Fields.When Ford reported early this month that Explorer deliveries collapsed by almost half during the quarter, Mark LaNeve, the automaker’s U.S. sales chief, said dealers had adequate inventory to sell.“Availability has improved dramatically over the last 30 to 45 days,” he said in an interview. “We’ll be able to hit our stride with Explorer starting now.”Supply in showrooms may indeed be building up, but a batch of about 2,500 Explorers in need of repairs arrived recently at the company’s factory in Flat Rock, Michigan, which for weeks has been fixing and finishing vehicles shipped from the Chicago plant where the SUV is built, according to people familiar with the matter.Buggy ScreensLaNeve told analysts on Oct. 2 that the Chicago plant had started shipping Explorers directly to dealers. But most of those models also have required repairs before they can be sold, said the people, who asked not to be identified describing internal issues the company is having.And not all problems with Chicago-built SUVs are being fixed before they reach customers’ driveways. Consumer Reports had problems with the Lincoln Aviator -- a mechanically similar model built alongside the Explorer -- that the magazine’s testers purchased last month for $63,400. The digital gauges that display speed, fuel consumption and other important information shake and flip, making them difficult to read.“Ford does tend to struggle with the new introductions, especially if they’re a larger departure from the previous design,” said Jake Fisher, the magazine’s director of auto testing. “It could take a few years to get the bugs worked out.”Ford is not experiencing similar setbacks as it begins building a redesigned version of its Escape compact SUV at its factory in Louisville, Kentucky. LaNeve told analysts the Escape “is a much more normal launch.”Problematic PlantDays after the January debut of the new Explorer -- which hadn’t been redesigned in almost a decade -- Hackett described Ford’s product development as “constipated,” and said his executive team was fixing what ailed the company.“The new Explorer and Ranger, which our administration kind of intercepted in process, are good examples of where we started to have influence,” said Hackett, who played football for Bo Schembechler in the 1970s at the University of Michigan.What the CEO wasn’t counting on was for a problematic plant to cause trouble again. The Chicago factory, fined twice in the last two decades by federal workplace-harassment regulators, is riven with dissension that’s hampering productivity and quality, according to people familiar with the situation.Roving groups of workers are intimidating other employees, creating a hostile environment, the people said. That’s driving up turnover and leaving some vehicle assembly unfinished, contributing to the company having to complete the work at the Michigan factory or at dealerships, the people said.Ford is unaware of any recent issues in which employees are intimidating one another, the spokeswoman said. The automaker is waiting its turn to negotiate a new labor contract with the United Auto Workers union, which has been on strike against General Motors Co. since mid-September.Explaining to DoFord spent a combined $1 billion upgrading its 95-year-old assembly plant and 63-year-old stamping factory in Chicago, outfitting them with advanced manufacturing technology to produce the Explorer, Aviator and Police Interceptor Utility.Those investments included $40 million to upgrade lighting and add security at the plants, where some employees have experienced sexual and racial harassment. In August 2017, the company agreed to pay as much as $10.1 million to settle claims following an investigation by the Equal Employment Opportunity Commission. Ford faced similar charges at the Chicago factories in 1999 that led to a $17.5 million settlement.When Hackett’s executive team discusses quarterly results with analysts this week, they’re likely to have to address how much further the plant has to go to overcome its troubled past.“You can’t afford to have these kinds of issues in this market environment. It shouldn’t have become the problem that it is,” LMC’s Schuster said. “They have some explaining to do.”To contact the reporter on this story: Keith Naughton in Southfield, Michigan at firstname.lastname@example.orgTo contact the editors responsible for this story: Craig Trudell at email@example.com, Chester DawsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- President Donald Trump said he will nominate Dan Brouillette to be his next energy secretary when Rick Perry leaves the job later this year.“Dan’s experience in the sector is unparalleled. A total professional, I have no doubt that Dan will do a great job!” Trump tweeted Friday.Brouillette has been serving as No. 2 to Perry, who led the Energy Department with its $36 billion budget and control of the nation’s nuclear arsenal and emergency crude oil stockpile. The White House arranged for Brouillette to meet with Trump on Friday after Perry gave the president a resignation letter. The deputy has been taking on increasingly high-profile roles for Perry, including sitting in for him at cabinet meetings. The White House session was described by people familiar with the matter who asked not to be named because it was private.Perry, 69, has been grooming Brouillette, 57, to succeed him for months while planning his own departure. In recent months, Brouillette has more frequently served as the public face of the Energy Department both on missions abroad and at U.S. events.Trump has elevated deputies at other agencies after the leaders departed. He made David Bernhardt acting secretary of the Interior after Ryan Zinke left the administration, then nominated him for the post. Trump used a similar approach with current Environmental Protection Agency Administrator Andrew Wheeler, who served as the second-ranking official under former chief Scott Pruitt.A Louisiana native, Brouillette worked at the Energy Department under former President George W. Bush as an assistant secretary for congressional and intergovernmental affairs.His vision for the Energy Department isn’t expected to veer from the one held by Perry, a vocal advocate of the nation’s oil and gas industry, who attempted -- so far unsuccessfully -- to subsidize unprofitable coal and nuclear plants in the name of national security and electric grid reliability.Brouillette has backed those efforts and said during a speech earlier this year that “fuel-secure units are retiring at an alarming rate,” a phenomenon that would “threaten our ability to recover from attacks and natural disasters,” if left unchecked.The nominee emerged as a key figure during internal administration debates last fall over whether to grant waivers for some countries from sanctions on Iran’s oil. Brouillette argued against the waivers, saying the administration should take a tougher stance against Iran, in a memo to the State Department.In addition to his past stint at the Energy Department under Bush, Brouillette has worked as staff director for the House Energy and Commerce Committee, where he played a role crafting major energy legislation. He also was a senior executive in the policy office of Ford Motor Co. and financial services provider United Services Automobile Association.To contact the reporters on this story: Jennifer Jacobs in Washington at firstname.lastname@example.org;Ari Natter in Washington at email@example.com;Jennifer A. Dlouhy in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Jon Morgan at email@example.com, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Ford announced that it would offer North America’s largest electric vehicle public charging network, the FordPass Charging Network, to its EV customers.
President Donald Trump on Friday tweeted that he is nominating Energy Department Deputy Secretary Dan Brouillette to become the department's new secretary, replacing Ricky Perry. Perry "will be leaving at the end of the year to pursue other interests," Trump said. Brouillette was previously a lobbyist for Ford Motor Co. and insurer USAA.
WASHINGTON/DETROIT (Reuters) - General Motors Co plans to build a new family of premium electric pickup trucks and sport-utility vehicles at its Detroit-Hamtramck plant beginning in late 2021, possibly reviving the imposing Hummer brand on some of them, several people familiar with the plans said. The so-called BT1 electric truck/SUV program is the centerpiece of a planned $3 billion (2.3 billion pounds) investment in the Detroit-Hamtramck plant to make electric trucks and vans, and part of a broader $7.7 billion investment in GM's U.S. plants over the next four years, according to a proposed labor deal between the automaker and the United Auto Workers union. The investment would move the automaker into a part of the EV market that is largely untested and where GM has a higher likelihood of turning a profit, analysts said.
While Ford's (F) sales in China fall 30.3% year over year in Q3, Tesla takes the U.K. market by storm with record deliveries of 6,244 vehicles.
The city's police department is looking to save tens of thousands of dollars in fuel costs with the new vehicles.