Stellantis (STLA) reaches labor deal with UAW as union expands strikes at GM
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Toyota (TM) to raise wages of US workers following UAW labor deals
November 1, 2023 2:06 PM EDTToyota Motors (NYSE: TM) announced Wednesday that the Japanese automaker will raise the wages of the companys nonunion U.S. factory workers. The announcement comes just days after the United Auto Workers (UAW) union won major pay and benefits enhancements from Detroit's three biggest... More
Barclays upgrades GM, Ford to Overweight on 'historically cheap valuation'
November 1, 2023 11:14 AM EDTBarclays upgraded Detroit automakers, General Motors (NYSE: GM) and Ford (NYSE: F) to Overweight ratings (From Equal-weight) as the companies move past the recent six-week long UAW labor strikes.
Barclays analysts suggest that the various challenges facing the business have created "peak pain," resulting in historically low... More
Bernstein upgrades Stellantis (STLA) to Outperform following UAW agreement
November 1, 2023 10:05 AM EDTBernstein upgraded Stellantis (NYSE: STLA) to an Outperform rating (From Market-Perform) and raised their 12-month price target on the automotive stock to $26.40 (From $18.50) after the Detroit automaker secured a new labor deal with the United Auto Workers (UAW) union, effectively ending strikes against the... More
Ford (F) to bring F-150 Lightning to Switzerland this year
October 31, 2023 3:02 PM EDTFord 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
October 31, 2023 1:59 PM EDTAs 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
October 31, 2023 10:45 AM EDTDeutsche 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
October 30, 2023 12:10 PM EDTFord 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
October 30, 2023 10:03 AM EDTGeneral 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
October 30, 2023 8:55 AM EDTCanadian 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
Ford shares inch higher pre-market following tentative UAW deal
October 30, 2023 7:53 AM EDTInvesting.com --Â Shares in Ford Motor Company (NYSE: F) edged slightly higher in premarket U.S. trading on Monday, after the carmaking giant reached a tentative labor deal with the United Auto Workers union that would end long-standing strikes at some of the company's plants.
On Sunday, the UAW outlined the major parts of the 4-1/2-year agreement, which includes $8.1 billion in... More
General Motors (GM) PT Lowered to $40 at Argus
October 30, 2023 7:31 AM EDTArgus analyst William Selesky lowered the price target on General Motors (NYSE: GM) to $40.00 (from $48.00) while maintaining a Buy rating.... More
Stellantis (STLA) November 18 straddle into quarter results
October 30, 2023 4:26 AM EDTStellantis (NYSE: STLA) November 18 straddle is priced for a move of 7% into the expected release of quarter results before the bell on October 31.
... MoreGM (GM) Said To Match Ford's 25% Pay Hike In Latest Offer To UAW - Bloomberg
October 27, 2023 3:48 PM EDT(Updated - October 27, 2023 3:49 PM EDT)
GM (GM) Said To Match Ford's 25% Pay Hike In Latest Offer To UAW - Bloomberg
Still Bargaining Over Temporary Worker PayStellantis (STLA) Said To Match 25% Pay Hike In Latest UAW Offer... MoreUAW, GM (GM) Nearing Tentative Agreement on New Contract - WSJ
October 27, 2023 2:35 PM EDTUAW, GM (GM) Nearing Tentative Agreement on New Contract - WSJ
Union, GM Officials Met Through the Night in Push to Secure Deal... MoreGM (GM), UAW may be nearing labor deal - CNBC
October 27, 2023 11:33 AM EDT(Updated - October 27, 2023 11:35 AM EDT)
GM (GM), UAW may be nearing a labor deal after marathon negotiating session - CNBC
Contract negotiations are reconvening midday Friday after intense talks occurred Thursday night into the morningDeal based on tentative pact union reached with Ford... MoreShares fall after Ford (F) cuts FY23 forecast on wider EV losses
October 27, 2023 11:22 AM EDTFord 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
Stellantis nears UAW deal after intensive talks
October 27, 2023 9:22 AM EDTBy David Shepardson and Joseph White
(Reuters) -Chrysler parent Stellantis and the United Auto Workers were nearing a deal that could be finalized as soon a Saturday to end a six-week-old strike, sources told Reuters.
On Wednesday, Ford Motor was the first of Detroit's Big Three car manufacturers to negotiate an agreement to settle strikes joined by 45,000 Detroit Three auto workers since mid-September. The deal will likely set a pattern for new UAW contracts with GM and Stellantis.
Talks between... More
General Motors (GM) PT Lowered to $40 at Morgan Stanley
October 27, 2023 8:59 AM EDTMorgan Stanley analyst Adam Jonas lowered the price target on General Motors (NYSE: GM) to $40.00 (from $41.00) while maintaining a Overweight rating.... More
General Motors (GM) GM’s Cruise parks all driverless cars in U.S. amid safety concerns
October 27, 2023 8:44 AM EDTGeneral Motors (NYSE: GM) robotaxi business, Cruise has decided to suspend all driverless operations across the U.S. after California regulators deemed the vehicles unsafe for public operation and suspended the companys self-driving permit.
The most important thing for us right now is to take steps to rebuild public trust, Cruise said in an online post late Thursday.
Part of this involves taking a hard look... More
Ford (F) PT Lowered to $13 at UBS
October 27, 2023 8:37 AM EDTUBS analyst Joseph Spak lowered the price target on Ford (NYSE: F) to $13.00 (from $15.00) while maintaining a Buy rating.... More
Ford shares fall after pulling full-year forecast, wider losses in EV unit
October 27, 2023 8:00 AM EDTBy Shivansh Tiwary
(Reuters) -Shares of Ford Motor Co closed down 12.3% on Friday, after the automaker reported a wider loss from its electric-vehicle (EV) business due to pressures from a price war, sparked by industry leader Tesla.
The Detroit automaker also pulled its 2023 forecast, citing "uncertainty" over the pending ratification of its new labor deal with the United Auto Workers (UAW) union, which is expected to significantly increase labor-related expenses.
Ford cautioned about ongoing... More
Amazon, Intel, Exxon Mobil rise premarket; Ford, Chevron fall
October 27, 2023 7:37 AM EDTInvesting.com -- U.S. futures rose Friday, boosted by strong numbers from a couple of tech giants ahead of the release of key inflation data.
Here are some of the biggest premarket U.S. stock movers today:
Amazon (NASDAQ: AMZN) stock rose 6.1% after the e-commerce giant reported third-quarter results that topped expectations as growth in its cloud business... More
Ford (F) PT Lowered to $10 at Wells Fargo
October 27, 2023 6:45 AM EDTWells Fargo analyst Colin M. Langan lowered the price target on Ford (NYSE: F) to $10.00 (from $11.00) while maintaining a Underweight rating.... More
Ford (F) PT Lowered to $12 at Goldman Sachs
October 27, 2023 3:49 AM EDTGoldman Sachs analyst Mark Delaney lowered the price target on Ford (NYSE: F) to $12.00 (from $13.00) while maintaining a Neutral rating.... More
After-hours stock movers: Intel jumps on beat, Enphase siks
October 26, 2023 5:15 PM EDTAfter-Hours Stock Movers:
Enphase Energy (NASDAQ: ENPH) 17% LOWER; reported Q3 EPS of $1.02, $0.01 worse than the analyst estimate of $1.03. Revenue for the quarter came in at $551.1 million versus the consensus estimate of $574.86 million. Enphase Energy sees Q4 2023 revenue of $300-350 million, versus the consensus of $601.24 million.
DexCom (NASDAQ: DXCM) 15% HIGHER; reported Q3 EPS of $0.50, $0.16 better than the analyst estimate of $0.34. Revenue for... More
Ford shares fall after missing Q3 expectations; Management has 'a long to-do list' says analyst
October 26, 2023 4:53 PM EDT(Updated - October 27, 2023 5:56 AM EDT)
Investing.com -- Ford Motor Company (NYSE: F) shares fell more than 3% in early Friday trading after the automaker missed expectations for profit in the third quarter.
Ford reported third-quarter adjusted earnings of 39 cents a share and revenue of $43.8 billion. Analysts expected a profit of 46 cents a share and revenue of $43.94... More
Ford Motor (F) fell 5% immediately following results and withdrawn guidance
October 26, 2023 4:10 PM EDTFord Motor (NYSE: F) fell 5% immediately following results and withdrawn guidance
reported Q3 EPS of $0.39, $0.08 worse than the analyst estimate of $0.47. Revenue for the quarter came in at $44 billion versus the consensus estimate of $44.05 billion.Full-Year 2023 Guidance Withdrawn Pending Ratification of Tentative U.S. Labor Agreement... MoreFord Motor (F) Misses Q3 EPS by 8c, Says Guidance Withdrawn
October 26, 2023 4:08 PM EDTFord Motor (NYSE: F) reported Q3 EPS of $0.39, $0.08 worse than the analyst estimate of $0.47. Revenue for the quarter came in at $44 billion versus the consensus estimate of $44.05 billion.
Full-Year 2023 Guidance Withdrawn Pending Ratification of Tentative U.S. Labor AgreementFor... More
Morgan Stanley expects similar deals from OEMs as Stellantis (STLA) forms JV with Leapmotor
October 26, 2023 12:17 PM EDTStellantis (NYSE: STLA) confirmed Wednesday night that the Chrysler-parent will invest EUR 1.5B to acquire approximately 20% of Chinese automaker, Leapmotor.
The purchase also sets the stage for a planned joint venture between the two entities called, Leapmotor International, a 51/49 Stellantis-led JV that has exclusive rights for the export and sale, as well as manufacturing, of Leapmotor products outside Greater China.
Morgan... More
Ford shares rise a day after tentative deal with UAW
October 26, 2023 9:18 AM EDT(Reuters) - Ford shares rose 3% before the bell on Thursday as the company's unionized workers were set to return to work following a tentative agreement between the automaker and the United Auto Workers (UAW) union guaranteeing a record wage hike.
Rival General Motors' shares also rose 1% as analysts expected the automaker to follow Ford... More
Ford (F) reaches tentative deal with UAW to end strike after 6 weeks
October 26, 2023 9:12 AM EDTFollowing 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
Meta, UPS, Hasbro and Align fall premarket; IBM, Ford rise
October 26, 2023 7:43 AM EDTInvesting.com -- U.S. futures slipped lower Thursday, as investors digested earnings from some of the influential tech giants.
Here are some of the biggest premarket U.S. stock movers today:
Meta Platforms (NASDAQ: META) stock fell 3.8% after the Facebook-parent exceeded third-quarter expectations, but the management said on... More
Stellantis forays into Chinese EV market with $1.6 bln stake in Leapmotor
October 26, 2023 5:19 AM EDTInvesting.com--Â Stellantis NV (EPA: STLAM) said on Thursday that it will take a roughly 20% stake in Chinese electric vehicle firm Zhejiang Leapmotor (HK:9863) in a $1.6 billion deal, with the two companies also setting up a joint venture targeting the booming Chinese EV market.Â
The Euro-American carmaker will buy about 194.3 million Hong Kong shares in Leapmotor at HK$43.8 per share, representing a 19% premium to Leapmotors Wednesday close. Under the venture, Stellantis (NYSE: STLA) will sell some Leapmotor... More
Ford Motor (F), UAW Reach Tentative Deal, Union Says
October 26, 2023 5:10 AM EDTFord Motor (F), UAW Reach Tentative Deal, Union Says
Ford Strikers Should Go Back To Work While Voting On Deal - Union... MoreAmazon, U.S. GDP, ECB rate decision - what's moving markets
October 26, 2023 5:07 AM EDTInvesting.com --Amazon takes the lead as the quarterly earnings season continues, with the tech sector remaining in focus. The European Central Bank is expected to halt its rate-hiking cycle, while investors will also focus on the latest quarterly U.S. growth numbers ahead of next week's Federal Reserve meeting.Â
1. Meta Platforms falls on revenue guidance; Amazon next up
It was the turn of Meta Platforms (NASDAQ: META) to take the spotlight after the close of trading on Wednesday, as the Facebook and... More
General Motors (GM) PT Lowered to $43 at DZ Bank
October 26, 2023 4:59 AM EDTDZ Bank analyst Matthias Volkert lowered the price target on General Motors (NYSE: GM) to $43.00 (from $52.00) while maintaining a Buy rating.... More
Stellantis (STLA) option implied volatility amid UAW contract headlines
October 26, 2023 4:24 AM EDTStellantis (NYSE: STLA) 30-day option implied volatility is at 33; compared to its 52-week range of 23 to 423 amid UAW contract headlines.
... MoreFord Motor (F) option implied volatility amid UAW contract headlines and quarter result
October 26, 2023 4:13 AM EDTFord Motor (NYSE: F) 30-day option implied volatility is at 39; compared to its 52-week range of 27 to 578 amid UAW contract headlines and quarter results.
... MoreGeneral Motors (GM) option implied volatility amid UAW contract headlines
October 26, 2023 4:12 AM EDTGeneral Motors (NYSE: GM) 30-day option implied volatility is at 39; compared to its 52-week range of 27 to 46 amid UAW contract headlines.
... MoreFord Motor (F) October weekly 11.50 straddle into quarter results
October 26, 2023 3:37 AM EDTFord Motor (NYSE: F) October weekly 11.50 straddle is priced for a move of 6.5% into the expected release of quarter results today after the bell.
... More