Ford Motor Co (NYSE:F) CFO: will significantly increase its $3 billion cost-cutting target by 2025
Ford Motor Co (NYSE:F) CFO: will significantly increase its $3 billion cost-cutting target by 2025.
Consumer Discretionary
Ford Motor Co. (NYSE:F) Q4 net income fell 90% year-over-year to $1.3 billion
Ford Motor Co. (NYSE:F) Q4 net profit fell 90% year-over-year to $1.3 billion, and a full-year 2022 net loss of US$2 billion, turning from profit to loss.
Ford Motor Co. (NYSE:F) Q4 net income fell 90% year-over-year to $1.3 billion Read Post »
Amazon suspended fresh food services and unmanned convenience store expansion
Amazon CEO Andy Jassy said on an earnings call on February 2 local time that the company has suspended the expansion of Amazon Fresh and unmanned convenience stores. Before it can embark on a massive expansion, he said, Amazon needs a unique form of store and keep its finances in good shape. “Retail is a tough industry.” Jassy said, “The process of expanding Amazon’s fresh service is flushing money down the toilet. But he added that the future of grocery supermarkets is omnichannel where online and offline coexist.
Amazon suspended fresh food services and unmanned convenience store expansion Read Post »
The United States revised its definition of car classification, and companies such as Tesla and Ford profited from it
On Friday, local time, the U.S. Treasury Department said that after revising the definition of car classification, it will make more Tesla, Ford Motors, General Motors and Volkswagen electric vehicles eligible for tax credits of up to $7,500. Under the $430 billion climate bill approved last August, SUVs can cost up to $80,000 to qualify for the EV tax credit, while cars, sedans and vans can only cost up to $55,000. The Treasury Department’s statement allows automakers to consider crossover SUVs eligible for credit. The decision raised the retail price cap for GM’s Cadillac Lyriq, Tesla’s five-seater Model Y, Volkswagen ID.4, Ford Mustang Mach-E and Escape plug-in hybrid from $55,000 to $80,000.
Credit Suisse: Cut Amazon’s (NASDAQ:AMZN) price target to $150 from $171
Credit Suisse: Cut Amazon’s (NASDAQ:AMZN) price target to $150 from $171.
Credit Suisse: Cut Amazon’s (NASDAQ:AMZN) price target to $150 from $171 Read Post »
Wells Fargo: Cut Amazon’s (NASDAQ:AMZN) price target to $145 from $155
Wells Fargo: Cut Amazon’s (NASDAQ:AMZN) price target to $145 from $155。
Wells Fargo: Cut Amazon’s (NASDAQ:AMZN) price target to $145 from $155 Read Post »
UBS: Amazon (NASDAQ:AMZN) price target raised to $127 Retail business is stronger than expected
UBS analyst Lloyd Walmsley raised its price target on Amazon (NASDAQ:AMZN) to $127 from $118, maintaining a “buy” rating. The analyst said Amazon’s fourth-quarter results were mixed, with retail stronger than expected and AWS weaker. Walmsley believes Amazon’s recent stock price will struggle to rise until AWS shows more signs of stabilization.
Morgan Stanley: Raised Amazon (NASDAQ:AMZN) price target to $150 with an overweight rating
According to a research report published by Morgan Stanley, Amazon (NASDAQ:AMZN) showed a significant improvement in the profitability of the company’s retail business in the fourth quarter of last year, which made the bank more confident in future scale-driven efficiency and profit improvement, and raised its retail EBIT forecast by $8 billion this year. Damo pointed out that although its AWS business is facing near-term macro uncertainty, it will cut its AWS revenue forecast for this year and next by 6%, but believes that the impact is only temporary, emphasizing that it is still optimistic about the long-term development of the business, and the target price is raised to $150. The bank also raised its overall EBIT forecasts for this year and next by 28% and 19%, rating it overweight.
Goldman Sachs: Raised General Motors (NYSE:GM) EPS forecast to raise its price target to $46
Goldman Sachs reported that General Motors (NYSE:GM) revenue and earnings per share in the fourth quarter of last year were $43.1 billion and $2.12, respectively, better than the market’s original expectations of $40 billion and $1.69, respectively. The company’s adjusted EBIT of US$3.8 billion last quarter was also better than market expectations of $3.2 billion. The company’s guidance for EBIT for this year is $10.5 billion to $12.5 billion, with earnings per share ranging from $6 to $7, higher than market and the bank’s expectations. The bank pointed out that GM’s results increased sharply in the fourth quarter of last year, and believes that a number of factors contributed to this year’s EBIT guidance better than expected, including net price and cost savings. Goldman Sachs raised GM’s earnings per share forecast from $5.15, $6 and $7.25 from $5.15, $6 and $7.25 to $6.25, $6.5 and $7.55, respectively. The bank raised
Delta Air Lines (NYSE:DAL): resuming direct flights between China and the United States
On February 3, Delta Air Lines (NYSE:DAL) announced that Delta Air Lines will cancel its technical stop in Seoul from March 3, 2023 and officially resume direct flights between China and the United States.
Delta Air Lines (NYSE:DAL): resuming direct flights between China and the United States Read Post »
Ford Motor expects new U.S. car prices to fall 5 percent this year
Ford Motor Co. expects new U.S. car prices to fall about 5 percent this year as automakers ramp up discounts, giving consumers a temporary relief from last year’s price shock. Parts shortages have drained dealerships’ vast inventories over the past three years and pushed the average selling price of a new car to a record $49,507 last December, according to Kelley Blue Book. But Ford believes that will ease this year.
Ford Motor expects new U.S. car prices to fall 5 percent this year Read Post »
Starbucks (NASDAQ:SBUX) same-store sales up 5% in Q1 2023, analysts expect a 6.79% increase
Starbucks (NASDAQ:SBUX) same-store sales grew 5% in the first quarter of 2023, compared with analyst expectations of 6.79%; Net income for the first quarter of 2023 was $8.7 billion, compared to analysts’ expectations of $8.75 billion; North American same-store sales in the first quarter of 2023 increased by 10%, compared with analysts’ expectations of 9.54%; International same-store sales fell 13% in the first quarter of 2023, compared with analysts’ expectations of a 3.87% decline.