Ford (F) calls for deal to end UAW strike

British minister ‘optimistic’ on finding solution to EV tariffs

October 18, 2023 3:37 PM EDT

On Wednesday, British Business Secretary Kemi Badenoch expressed strong confidence in finding a resolution for automakers to circumvent imminent tariffs on the trade of electric vehicles (EVs) with the European Union, stating that she was very optimistic about the prospects.

"We're regularly raising this with EU counterparts, and it is just simply the nature of trade negotiations and trade policy," said Badenoch during an even... More

Ford (F) announces management shuffle as UAW strikes continue

October 18, 2023 12:03 PM EDT

Ford Motor (NYSE: F), on Wednesday, revealed a restructuring of its management, appointing Kumar Galhotra, the head of the combustion vehicle unit, as the new chief operating officer.

This development comes despite the continued autoworkers strike showing scant indications of resolution.

Galhotra, formerly in charge of the Ford Blue unit responsible for gas and hybrid vehicles, will now oversee the global industrial system of the automaker.

Meanwhile, Andrew Frick, who previously handled sales and... More

NHTSA probes GM’s self-driving unit for pedestrian risk

October 17, 2023 2:20 PM EDT

On Tuesday, U.S. auto safety regulators initiated an investigation to determine whether General Motors' (NYSE: GM) self-driving division, Cruise, is adequately prioritizing safety measures for its autonomous robotaxis to protect pedestrians.

The National Highway Traffic Safety Administration (NHTSA) disclosed that it has received two reports from Cruise concerning incidents in which pedestrians were harmed.

Additionally, the NHTSA has identified two additional incidents... More

General Motors (GM) to delay EV truck production at Michigan plant

October 17, 2023 1:56 PM EDT

General Motors (NYSE: GM) revealed Tuesday that the Detroit automaker will delay the production of electric pickup trucks at its Orion Township, Michigan facility as the company deals with "evolving EV demand."

The latest move suggests that electric vehicle production and demand might not be as strong as previously expected. Ford Motor (NYSE: F) announced on Friday that it would temporarily cut... More

Tesla (TSLA) pushes US to adopt stricter fuel efficiency rules

October 17, 2023 12:01 PM EDT

Prominent electric vehicle manufacturer, Tesla (NASDAQ: TSLA) on Tuesday, called upon the Biden administration to swiftly solidify more rigorous fuel economy standards through 2032 than those initially proposed by U.S. regulators, placing the automaker at odds with major OEMs.

In July, the National Highway Traffic Safety Administration (NHTSA) introduced a proposal to... More

Barclays starts Stellantis (STLA) at Overweight, forecasting modest growth amidst challenges

October 17, 2023 8:54 AM EDT

Barclays initiated coverage of Stellantis (NYSE: STLA) with an Overweight rating and set their 12-month price target on the stock at EUR 22.50.

STLA ranks high among EU/US OEMs in terms of profitability, cash flow, dividends, and efficient use of capital, making it a favored choice for many investors. However, Barclays analysts believes that due to the overall lack of interest in the EU Auto sector, its position is relatively weak.

Barclays predicts a margin adjustment, decreasing from... More

Ford (F) recalls 230K Explorer SUVs for rollaway risk

October 16, 2023 3:11 PM EDT

Ford is recalling certain 2020-2022 Ford (NYSE: F) Explorers due to the potential risk of rolling away if the parking brake is not engaged.

According to the National Highway Traffic Safety Administration, 238,364 vehicles are affected by this recall. The issue stems from a... More

Ford Motor (F) call put ratio 2.6 calls to 1 put amid UAW talk headlines

October 16, 2023 11:11 AM EDT

Ford Motor (NYSE: F) 30-day option implied volatility is at 35; compared to its 52-week range of 27 to 588. Call put ratio 2.6 calls to 1 put.

... More

Ford, UAW leaders spar as auto strike costs rise

October 16, 2023 10:24 AM EDT

By Joseph White and David Shepardson

DEARBORN, Michigan (Reuters) - Ford executive chairman Bill Ford on Monday urged the United Auto Workers union to end a 32-day strike and reach a new labor agreement, and warned of the growing impact to the automaker and the U.S. economy.

"We can stop this now," Ford said of the strike that expanded last week to shut down the Kentucky plant. "I call on UAW colleagues ... We need to come together to bring an end to this acrimonious round of talks."

Ford made his appeal in a press conference at... More

Stellantis (STLA), Ford (F) layoff 1,250 additional workers as UAW strike continues

October 16, 2023 9:05 AM EDT

Chrysler-parent company Stellantis (NYSE: STLA) and Ford Motor (NYSE: F) announced on Friday that they would be implementing temporary layoffs for 1,250 employees, citing the repercussions of the ongoing United Auto Workers (UAW) strike.

In light of the strike, Stellantis disclosed that 1,340 employees are... More

Carmakers Spared From New UAW Strikes As Talks Progress - Bloomberg

October 13, 2023 10:33 AM EDT

Carmakers Spared From New UAW Strikes As Talks Progress - Bloomberg

... More

JPMorgan, Wells Fargo and Dollar General rise premarket; BlackRock, Netflix fall

October 13, 2023 7:59 AM EDT

Investing.com -- U.S. futures drifted lower Friday, as investors digested the release during the previous session of hotter than expected inflation data as well as key bank earnings.

Here are some of the biggest premarket U.S. stock movers today:

JPMorgan Chase (NYSE: JPM) stock... More

Stock Market Today: Dow falls as rising yields return to put squeeze on stocks

October 12, 2023 4:33 PM EDT

Investing.com -- The Dow cut intraday cuts to close lower Thursday as rising Treasury yields pierced through early-day optimism following inflation data that surprised to the upside and signs of ongoing strength in the labor market.  

The Dow Jones Industrial Average fell 0.6%%, 173 points, Nasdaq fell 0.6%, and the S&P 500 slipped 0.6%,

Inflation on the up and up, again; labor market strength continues

The consumer price index is expected to have rose to 0.4% in September, taking the annual rate to 3.7%, slightly above expectations for a 0.3% and 3.6% rise respectively.

The core measure,... More

S&P 500 slips as Treasury yields regain momentum on stronger inflation, jobs data

October 12, 2023 3:57 PM EDT

Investing.com -- The S&P 500 fell Thursday after giving up gains amid pressure from rising Treasury yields after inflation came in hotter than expected in September and the job market continues to show strength, weighing on hopes that the Federal Reserve was done with rate hikes.

The S&P 500 fell 0.7%, the Dow Jones Industrial Average fell 0.6%%, 196 points, Nasdaq fell 0.7%.

Inflation on the up and up, again; labor market strength continues

The consumer price index is expected to have rose to 0.4% in September, taking the annual rate to 3.7%, slightly above expectations for a 0.3% and 3.6%... More

Ford (F) Says 'Have Reached Our Limit' On Economic Offer To UAW - Bloomberg

October 12, 2023 2:59 PM EDT

Ford (NYSE: F) Says 'Have Reached Our Limit' On Economic Offer To UAW - Bloomberg

... More

Ford Motor (F) Statement On Kentucky Truck Plant Work Stoppage

October 12, 2023 9:39 AM EDT

Ford Motor (NYSE: F) announced:

The decision by the UAW to call a strike at Fords Kentucky Truck Plant is grossly irresponsible but unsurprising given the union leaderships stated strategy of keeping the Detroit 3 wounded for months through reputational damage and industrial chaos.

Ford made an outstanding offer that would make a meaningful positive difference in the quality of life for our... More

UAW escalates strike with surprise walkout at Ford (F) Kentucky plant

October 12, 2023 8:46 AM EDT

The United Auto Workers (UAW) union began a surprise strike against Ford Motor, specifically targeting the automaker's most profitable SUV and pickup truck production facility in Kentucky.

This unexpected strike started at 6:30 p.m. Eastern Time on Wednesday, disrupting operations at Ford's Kentucky Truck Plant. This facility is responsible for manufacturing Ford Super Duty pickups, along with the Ford Expedition and Lincoln Navigator SUVs. The workforce at this plant comprises 8,700 UAW members.

The strike raises places additional... More

Delta, Target, First Solar rise premarket; Ford, Domino's Pizza fall

October 12, 2023 8:05 AM EDT

Investing.com -- U.S. futures rose Thursday, ahead of the release of the eagerly-awaited September consumer prices report.

Here are some of the biggest premarket U.S. stock movers today:

Delta Air Lines (NYSE: DAL) stock rose 3% after the carrier reported stronger-than-expected quarterly profit on strong international... More

Ford says it is 'at the limit' with UAW contract offer

October 12, 2023 6:13 AM EDT

By Joseph White, David Shepardson and Abhirup Roy

DETROIT/WASHINGTON (Reuters) - A senior Ford executive said Thursday the automaker is "at the limit" of what it can spend on higher wages and benefits for the United Auto Workers, and warned the union's strike at the company's most profitable factory could harm workers and slash profits.

"We have been very clear that we are at the limit," Kumar Galhotra, head of Ford's combustion vehicle unit, said during a conference call Thursday. "We stretched to get to this point. Going further will hurt our ability to invest in the... More