Ford (F) executives target changes in cost and quality

Who should buy Renault?

December 4, 2023 3:46 PM EST

Purchasing Renault at its 10 billion market cap would essentially pay for itself. With the company boasting 7 billion in net cash and a Nissan stake valued at 6.6 billion, these assets alone exceed what any potential buyer would require to justify the current market price.

Comparatively, both Stellantis (NYSE: STLA) and Volkswagen hold reserves far exceeding the value of Renault on their balance sheets. In fact, Renault itself possesses enough financial power to buy itself and transition into a private entity. This situation highlights two critical concerns: firstly, the underestimation of long-term risks in the automotive... More

Ford (F) reports decline in U.S. sales in November

December 4, 2023 12:21 PM EST

Ford Motor (NYSE: F) reported Monday a 0.5% decrease in U.S. new vehicle sales for November. This decline comes as the Detroit automaker is focused on resuming operations in crucial plants following a prolonged workers' strike, impacting overall vehicle production.

In late October, Ford successfully negotiated a... More

U.S. to impose limitations on Chinese battery content for EV tax credits

December 1, 2023 2:11 PM EST

U.S. President Joe Biden and his administration released guidance on Friday that will impose restrictions on Chinese content allowed in batteries qualifying for electric vehicle (EV) tax credits beginning next year.

In a victory for automakers, the U.S. Treasury is set to provide a temporary exemption for certain essential trace minerals from recently imposed stringent regulations that restrict materials originating from China and other nations labeled as "Foreign Entity of Concern"... More

Midday movers: Snowflake, Salesforce, and more

November 30, 2023 8:12 AM EST

(Updated - November 30, 2023 12:12 PM EST)

Investing.com -- Main U.S. indexes were mixed on Thursday after inflation and jobs data didnt change investors' opinion on the timing of Fed rate cuts. The Dow Jones Industrial Average climbed 0.8%, with gains led by Salesforce. Nasdaq slumped 0.7%, and the S&P 500 was down 0.1%.

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

Snowflake (NYSE: SNOW) stock rose 5% after the data warehousing company impressed with its... More

Ford pegs cost of UAW labor deal at $8.8 billion, cuts annual profit view

November 30, 2023 6:56 AM EST

By Nathan Gomes

(Reuters) -Ford Motor on Thursday pegged the cost of a new labor deal at $8.8 billion and joined rival General Motors in cutting its full-year profit forecast due to lost production from a lengthy strike at its U.S. plants.

The deal with the United Auto Workers (UAW) union, reached after weeks of tense negotiations, will add about $900 in labor costs per vehicle by 2028. Ford said it would work to offset that by cutting costs elsewhere.

The automaker now expects adjusted earnings before interest and taxes (EBIT) of $10 billion to $10.5 billion for 2023, down from... More

Ford Motor (F) stock pops on reinstated outlook, new UAW deal expected to cost $8.8 billion

November 30, 2023 6:54 AM EST

Ford (NYSE: F) has reinstated its 2023 financial guidance, still anticipating adjusted Ebit in the range of $10.0 billion to $10.5 billion.

As a result, shares rose modestly in pre-market Thursday trade.

The Michigan-based automaker also disclosed that the new U.S. labor... More

Ford Motor (F) Reinstates Forecast, Sees FY Adj EBIT $10b-$10.5B

November 30, 2023 6:49 AM EST

Ford (NYSE: F_ has a new, post-strike outlook for full-year 2023 operating results and absolute confidence in and commitment to the long-term potential of its Ford+ plan to generate growth and value.

Those are the primary messages that Ford CFO John Lawler will deliver in remarks this morning at the... More

UAW push to organize Tesla (TSLA) and non-union auto sector

November 29, 2023 4:22 PM EST

The United Auto Workers (UAW) union announced Wednesday their plan to unionize electric vehicle maker, Tesla (NASDAQ: TSLA) as well as the entirety of the nonunion auto industry in the United States.

This move follows the unions successful negotiation of new contracts with the Detroit Three automakers.

UAW revealed that employees from 13 nonunion automakers have launched coordinated campaigns nationwide to join the union.

These efforts encompass companies such as Tesla, Toyota (NYSE:... More

Ford (F), Stellantis (STLA) Trade Higher in Sympathy with GM (GM)

November 29, 2023 7:12 AM EST

Ford (NYSE: F), Stellantis (NYSE: STLA) Trade Higher in Sympathy with GM (NYSE: GM)

General Motors Co. (NYSE: GM) announced today it is reinstating its full-year 2023 earnings... More