Club holding Ford (F) on Tuesday showed investors it had righted the ship in the first quarter following a dismal end of 2022, easing our concerns that the legacy automaker had lost its way. Automotive revenue for the three months ended March 31 increased about 21% year-over-year, to $39.09 billion, topping analysts’ forecasts of $32.08… Continue reading Ford restores faith with quarterly results, while Starbucks proves to be a China play
Author: CNBC Online news
Ford posts stellar first quarter, boosted by fleet and legacy truck divisions
DETROIT — Ford Motor on Tuesday reported first-quarter results that significantly topped Wall Street’s estimates, as the automaker’s fleet and legacy operations outweighed growing losses in electric vehicles. Despite the significant beat, Ford maintained its previously announced 2023 guidance, and the stock ticked lower in extended trading. related investing news Ford finance chief John Lawler… Continue reading Ford posts stellar first quarter, boosted by fleet and legacy truck divisions
Club meeting recap: Equities under pressure, Morgan Stanley layoffs, earnings
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. Equities under pressure Watch Morgan Stanley Earnings on deck 1. Equities under pressure Stocks fell Tuesday morning, with all three major U.S. benchmarks down more than 1% . The drop… Continue reading Club meeting recap: Equities under pressure, Morgan Stanley layoffs, earnings
Ford cutting price of electric Mustang Mach-E by thousands of dollars
Ford Mustang Mach-E is presented at the New York International Auto Show, in Manhattan, New York City, April 5, 2023. David Dee Delgado | Reuters DETROIT – Ford Motor is once again cutting the starting prices of its electric Mustang Mach-E by thousands of dollars, as the automaker increases production of the crossover and reopens… Continue reading Ford cutting price of electric Mustang Mach-E by thousands of dollars
Jim Cramer’s top 10 things to watch in the stock market Tuesday
1. DuPont (DD) delivers a first-quarter earnings beat Tuesday, with adjusted earnings-per-share (EPS) of 84 cents, compared with analysts’ forecasts of 80 cents per share. But the materials giant cut its full-year revenue forecast, sending shares nearly 5% lower in premarket trading. DuPont also says it’s agreed to buy Spectrum Plastics Group from AEA Investors… Continue reading Jim Cramer’s top 10 things to watch in the stock market Tuesday
Tesla hikes prices in U.S., China and other markets after multiple cuts
Visitors check a Tesla Model 3 car next to a Model Y displayed at a showroom of the U.S. electric vehicle (EV) maker in Beijing, China February 4, 2023. Florence Lo | Reuters Tesla hiked the price of several cars in key markets, including the U.S. and China, after a number of cuts this year.… Continue reading Tesla hikes prices in U.S., China and other markets after multiple cuts
Lordstown Motors warns of bankruptcy after Foxconn threatens to walk away from crucial funding deal
Signage outside Lordstown Motors Corp. headquarters in Lordstown, Ohio, on Saturday, May 15, 2021. Dustin Franz | Bloomberg | Getty Images Electric vehicle startup Lordstown Motors disclosed on Monday that a funding deal with Foxconn is in jeopardy – and that it may go bankrupt if the deal doesn’t happen. Lordstown’s shares fell sharply on… Continue reading Lordstown Motors warns of bankruptcy after Foxconn threatens to walk away from crucial funding deal
Why GM is killing the Chevy Bolt — America’s cheapest EV — amid record sales
A Chevrolet Bolt EUV on display at the New York Auto Show, April 13, 2022. Scott Mlyn | CNBC DETROIT — After years of lackluster performance and a fire-provoked recall, the all-electric Chevrolet Bolt EV was finally gaining traction for General Motors. As America’s cheapest EV following significant price cuts, U.S. sales of the Chevy… Continue reading Why GM is killing the Chevy Bolt — America’s cheapest EV — amid record sales
Mobileye shares plunge after self-driving tech company cuts guidance amid Tesla’s EV price war
Mobileye signage during the company’s IPO at the Nasdaq MarketSite in New York, US, on Wednesday, Oct. 26, 2022. Mobileye Global Inc., the self-driving technology company owned by Intel Corp., priced one of the biggest US initial public offerings of the year above its marketed range to raise $861 million. Michael Nagle | Bloomberg |… Continue reading Mobileye shares plunge after self-driving tech company cuts guidance amid Tesla’s EV price war
Wall Street worries GM will face a tougher 2023 than the automaker is letting on
Mary Barra, chief executive officer of General Motors Co., during the South by Southwest festival in Austin, Texas, March 14, 2023. Jordan Vonderhaar | Bloomberg | Getty Images DETROIT — Doubts are creeping in on Wall Street about the rest of 2023 for General Motors. The company on Tuesday beat Wall Street’s first-quarter earnings expectations… Continue reading Wall Street worries GM will face a tougher 2023 than the automaker is letting on