9.56 +0.02 (0.21%)
After hours: 6:49PM EST
|Bid||9.56 x 1000|
|Ask||9.58 x 47300|
|Day's Range||9.47 - 9.67|
|52 Week Range||8.17 - 13.48|
|Beta (3Y Monthly)||0.24|
|PE Ratio (TTM)||6.15|
|Earnings Date||Jan 22, 2019 - Jan 28, 2019|
|Forward Dividend & Yield||0.60 (6.40%)|
|1y Target Est||9.84|
With a new chairman in place, it seems like Elon Musk's company could be on track to return to its status as a Wall Street darling.
Ontario's opposition parties are calling for an investigation into allegations that a senior aide to Premier Doug Ford interfered in staffing matters at one of the province's Crown corporations. A Globe and Mail report published Tuesday alleged that Dean French, Ford's chief of staff, personally asked the Ontario Power Generation to fire Alykhan Velshi, who used to hold a key role in the office of Ford's predecessor — former Progressive Conservative leader Patrick Brown.
Lime has a new way for urban commuters to get around — cars. Its new car-sharing move follow inroads by GM, Ford in e-bikes and e-scooters.
As we discussed in the previous two parts of this series, rising interest rates and the US-China war (FXI) are two of the major reasons for investors’ pessimism. Meanwhile, President Trump seems to be playing the “blame game” regarding the ongoing market turmoil. According to a BBC report, in an interview with Fox & Friends in August, President Trump said, “I tell you what, if I ever got impeached, I think the market would crash, I think everybody would be very poor.” When the market crash started in October during his time in office, President Trump started blaming the Fed for the economic turmoil.
Ford is not involved in those plans by the Chinese automaker, spokesmen for the companies said. Ford had tapped Zotye to provide lower-priced electric vehicles to some of its dealers in China. "There is no current plan for Zotye USA to sell EVs in the U.S. market," Zotye spokesman Chris Hosford said in an email on Tuesday.
Ford Motor Company and Ford Motor Credit Company announced today the tentative dates for their 2019 earnings announcements. On these dates, earnings results are expected to be announced at close of market followed by a conference call at 5:30 p.m.
In the previous part of this series, we discussed how investors’ concerns about rising interest rates remain intact despite unchanged rates in the Fed’s recent meeting. The Fed continues to target a range of 2%–2.25% of the federal funds rate. The possibility of the Fed hiking interest rates in December, for the fourth time in 2018, remains open.
The fourth quarter started on a negative note for investors. US equities witnessed a sell-off. In October, the S&P 500 Index (SPY) lost ~6.9%, which marked the worst month for the index in the last seven years. Similarly, the Dow Jones Industrial Average (DIA) and the NASDAQ Composite Index (QQQ) ended October with ~8.1% and 5.1% losses, respectively. While the broader market saw a minor recovery in the last few weeks, it turned negative again this week. In the week ending November 9, the S&P 500 benchmark rose 2.1%, but fell 2.0% on November 12.
Ford's auto sales in China fell 45 percent in October from the same month last year. A government crackdown on certain forms of lending has dried up auto financing for a wide swath of China's middle class. China had for some time allowed peer-to-peer lending schemes, where wealthier people could lend money to the less wealthy.
The second-largest U.S. automaker is struggling to find its footing in China, which is in the grips of an overall slowdown in auto sales.
In the week that ended on November 9, Tesla (TSLA) stock continued to trade on a positive note for the fourth consecutive week. In the third quarter, Tesla fell 22.8%. Other auto stocks (XLY) General Motors (GM) and Ford Motor Company (F) have risen 6.0% and 1.4% quarter-to-date, respectively, while Fiat Chrysler Automobiles (FCAU) has fallen 7.1% in the fourth quarter so far.
In the week that ended on November 9, General Motors (GM) stock fell 0.9% after registering a solid rise of 10.4% in the previous week. GM stock rose 8.7% in October despite a 6.9% fall in the S&P 500 Index. It has fallen 2.4% month-to-date as of November 12.
In the week that ended on November 9, Ford Motor Company (F) stock settled at $9.38, with no change from the previous week’s closing price. In the previous week, it rose 4.5%.
The broader market ended last week on a positive note due to the gains that followed the US midterm election results on November 7. Last week, the S&P 500 benchmark (SPY) rose 2.1%. This was the second consecutive week during which US equities continued to rally.
China’s Slowdown: How Severe Is It This Time? China’s GDP grew 6.5% in the third quarter, which is the slowest expansion rate since 2009. The auto sales in China have fallen for four consecutive months.
China has been accused of unfair trade policies. In addition to President Trump, other regions have found fault with China’s trade practices. The European Union and India have blamed China for unfair trade practices.
As we noted in the previous part, President Trump’s Section 232 tariffs have lifted US steel prices and boosted steel companies’ earnings. While US steel companies like U.S. Steel Corporation (X) have benefited from higher steel prices, downstream steel users have been crying foul about higher steel and aluminum prices in the United States (SPY).
According to Willie Delwiche, investment strategist at R.W. Baird, “Oil being down could be a sign that the global economy is in a tough spot.” “The initial reaction to lower oil prices has been that they’ll be a boon for the middle class,” Delwiche said that the view could be inaccurate considering that consumer confidence doesn’t have more chances to grow, and because a smaller part of the American consumer’s budget goes to gasoline than it has in the previous years. Adient's stock moved 25.36% lower Friday, to close the day at $21.52. The stock recorded a trading volume of 7,538,879 shares, which was above its three months average volume of 2,035,698 shares.
Ontario Premier Doug Ford encouraged Canadians to remember soldiers past and present Sunday as they reflected on the centennial anniversary of the end of the First World War. "I am six years younger than the event today which turns 100," he noted, referencing the signing of the armistice that ended the fighting in 1918.
A panel discussion on U.S. supercarriers will be held at the Gerald R. Ford Presidential Museum in Grand Rapids. Tuesday's program will feature the documentary "Building Integrity, Building Ford," which looks at the technology used in the newest class of aircraft carriers. The USS Gerald R. Ford was commissioned last year and is the first of the new Ford class of aircraft carrier.
With the GOP soon to cede control of the House of Representatives, the fuel economy rollback, as well as the Trump administration's trade war, are among the many things likely to come under a Democratic spotlight. But the real question is what, if anything, that party will be able to accomplish when they regain some amount of control in Washington.