Amazon, Intel, Exxon Mobil rise premarket; Ford, Chevron fall

Ford (F) to bring F-150 Lightning to Switzerland this year

Ford Motor (NYSE: F) announced Tuesday that their popular F-150 Lightning electric pickup truck is coming to Switzerland in limited numbers this year.

Following its introduction to the United States during the 2022 model year, the Ford F-150 Lightning has significantly broadened its global... More

Deutsche Bank says losses may extend but will not derail EV transition

As emerging electric and legacy automakers voice concerns over what appears to be a deceleration of demand for battery electric vehicles, Deutsche Bank research analysts believe the existing BEV losses may extend but will not halt the industrys movement towards an EV transition.

During our IAA conference there was a debate if BEV adoption is slowing. This has now become a full blown concern about a potential EV demand meltdown. Writes Deutsche Bank analysts in a... More

Deutsche Bank sees 'no hit' from UAW strike in October

Deutsche Bank research released an Industry update on the current state of the auto industry following the tentative conclusion of a six week long strike by the United Auto Workers against Detroits three biggest car companies, General Motors (NYSE: GM), Ford (NYSE: F), and Chrysler-parent Stellantis (NYSE:... More

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

ExxonMobil (XOM) net income rises from Q2

ExxonMobil (NYSE: XOM) reported third-quarter earnings before the open on Friday, missing consensus profit and revenue expectations.

The oil company reported Q3 EPS of $2.25, $0.12 worse than the analyst estimate of $2.37, while revenue for the quarter came in at $90.76 billion versus the consensus estimate of $94.06... More