Amazon, U.S. GDP, ECB rate decision - what's moving markets

Ford (F) to add 15k Tesla (TSLA) superchargers

Ford Motor (NYSE: F) announced Monday that the Detroit automaker will add north of 15,000 Tesla (NASDAQ: TSLA) Superchargers to the companys electric vehicle charging network, up from its earlier projection of 12,000 chargers.

The Detroit automaker said it plans to increase the scope of its BlueOval Charge Network in... More

General Motors (GM) reaches tentative deal to end UAW strike

General Motors (NYSE: GM) and the United Auto Workers (UAW) have come to a preliminary agreement less than 48 hours after the union began its strike at the Spring Hill Assembly plant in Tennessee, marking the conclusion of the initial joint strike against the Detroit Three automakers.

Details of the agreement have... More

Unifor begins strikes at Stellantis (STLA) facilities in Canada

Canadian labor union, Unifor announced Monday morning that they have initiated strikes across all Stellantis (NYSE: STLA) facilities in the country. Over 8,200 union members have participated in the walkout, following a failure to secure a preliminary resolution during labor contract negotiations.

Unifor's key demands include enhanced wages and pension benefits.... More

Stellantis (STLA) reaches labor deal with UAW as union expands strikes at GM

Stellantis (NYSE: STLA) and the United Auto Workers (UAW) union have tentatively agreed on a fresh labor contract, as confirmed by the UAW on Saturday, marking the resolution more than 40 days after the union initiated a strike against the Detroit Three automakers.

At... More

Shares fall after Ford (F) cuts FY23 forecast on wider EV losses

Ford Motor (NYSE: F) shares plummeted 6% during Friday's pre-market trading session following a report of increased losses in its electric-vehicle (EV) division.

The Detroit automaker attributed the losses to intensified competition triggered by Tesla's (NASDAQ: TSLA) aggressive pricing strategies.

Additionally, Ford retracted its 2023 projection, citing uncertainties surrounding... More

Cantor Fitzgerald upgrades Rivian (RIVN) to Overweight following recent pullback

Cantor Fitzgerald upgraded Rivian Automotive (NASDAQ: RIVN) to an Overweight rating (From Neutral) and reiterated their 12-month price target of $29.00 on the electric automakers stock after a recent pullback creates an entry opportunity for investors.

The share price has underperformed by ~27% in the past month, and is down ~12% YTD. As of Thursdays close, RIVNs stock trades at $16.17, with an over 79% upside.

Rivian pre-announced on October 2, that the electric automaker had manufactured 16,304 vehicles in 3Q23, surpassing the estimated 14,580 (compared to 13,992 vehicles in 2Q23). Additionally, they reported... More

Citi Mixed on Southwest (LUV), '2024E Cost Creep Risks'

Citi analyst Stephen Trent reiterated a Neutral rating and $28.50 price target on Southwest (NYSE: LUV).

The analyst comments "Southwest Airlines expressed confidence in operational- and customer-focused improvements that it has made over the last year, with management expecting tailwinds from these initiatives... More

Merck (MRK) tops Q3 expectations on sustained growth in oncology and vaccine segments

Merck (NYSE: MRK) reported earnings before the open Thursday, topping both profit and revenue consensus expectations.

The pharmaceutical company reported earnings of $2.13 per share, $0.18 better than the analyst estimate of $1.95, while revenue for the quarter came in at $16 billion, up 7% YoY and above the consensus estimate of $15.29 billion.

The company... More

Ford (F) reaches tentative deal with UAW to end strike after 6 weeks

Following almost 6 weeks of strikes, Detroits Ford Motors (NYSE: F) and the United Auto Workers union announced late on Wednesday that the two have come to a tentative agreement on the terms of a new labor contract.

While the final details of the agreement are still being prepared, analysts at Barclays remain Neutral on the automaker as they believe the headline terms are likely already priced into the stock.

The UAW also announced... More