STOCKS TELEGRAPH

Tag: Ford stock

  • Ford Motor Company (F) stock declined in the Current market; here is why?

    The stock of Ford Motor Company (F) declined in the current market. The stock values at around $21.76, losing more than 3% from the previously closed value. At the end of the last trading session, the stock closed at $22.45. The stock volume traded in the previous trading session was approximately 110 million shares.

    Reason for the Ford Motor decline

    On Jan 18, 2022, Ford announced that its investment in Rivian saw an $8.2 billion increase in the Q4 after Rivian’s IPO. Ford will also consider its $900 million non-cash earning due to investment in Rivian as a special item. It was announced earlier by Ford following the Rivian’s IPO in October. Ford’s full-year adjusted EBIT and adjusted EPS will not include the first-quarter gain. Ford earlier forecasted between $10.5-11.5 billion in adjusted EBIT for fiscal 2021 when it reported Q3 results on Oct 27.

    Global pension and post-retirement employee benefits revaluation resulted in non-cash, pre-tax accounting gain of $3.5 billion in Q4 and $3.9 billion for fiscal 2021. Ford repurchased and redeemed over $7.6 billion in high-cost debt in Q4, saving the company $1.7 billion. The transactions aimed to strengthen the company’s balance sheet and reduce ongoing interest costs. A non-cash benefit of $3.6 billion is included in the books due to Ford’s global tax structure changes and their impact on deferred tax.

    Effect on the stock

    The news of the gain on the investment by Ford in Rivian made the investors invest heavily in Ford’s stock. Due to which the stock went high sometimes, it started to decline because of the increased trading volume. The company said that its stock value might increase due to the investment in Rivian. Ford’s stock was high in demand after the potential of growth forecast.

    Conclusion

    The stock of Ford could see significant growth in the future after its gain on the investment in Rivian. Ford’s stock is among the potential candidates for investors to include in their investment portfolio for future capital gain.

  • Here is why Forward Industries Inc. (FORD) stock surged in the after-hours on Tuesday?

    Here is why Forward Industries Inc. (FORD) stock surged in the after-hours on Tuesday?

    Forward Industries Inc. (FORD) stock started the Tuesday trading by losing 3.19% in the morning session and closed at $2.73 per share. But in the after-market session, FORD shares soared 35.53% and close the Tuesday business at $3.7 per share. FORD shares have risen 106.82% over the last 12 months, and they have moved down8.70% in the past week. Over the past three months, the stock has lost 18.99%, while over the past six months, it has added 59.65%.

    Let’s have a look at its recent news and developments.

    Distribution agreement with Chipolo

    On June 15, 2021, Forward Industries, Incsigned an agreement with Chipolo Inc. to distribute its tracker products in the U.S., via exclusive distribution agreements with select big box stores and other retailers.

    Chipolo ONE Spotis one of the first third-party accessories that work with the Apple Find My network, enabling users to go to the Find My app and see the missing item on a map. Chipolo other products work with through its app.

    Recent financial results

    On May 14, 2021, Forward Industries, Inc reported its financial results for its second fiscal quarter ended March 31, 2021.

    Q2 2021 financial highlights

    • Forward Industries reported revenue of $8.4 million for Q2 2021 compared to $7.9 million for the three months ended March 31, 2020.
    • For the reported quarter, the gross margin was 20.8%compared to 18.3% for the three months ended March 31, 2020.
    • it reported an operating loss of $0.8 million for Q2 2021 compared to $1.7 million for Q2 2020.
    • For Q2 2021, the net loss was $0.8 million, compared to $1.4 million for the three months ended March 31, 2020.
    • Basic and diluted loss per share was $0.08 for Q2 2021, compared to $0.14 for Q2 2020.
    • As of March 31, 2021, the company had cash and cash equivalents totalled $1.5 million.

    Fiscal 2021 First Quarter results announcement

    OnFebruary 12, 2021, Forward Industries, Inc reported its financial results for its first quarter ended December 31, 2020. 

    Q1 2021 financial highlights

    • Forward Industries reported revenue of $9.7 million for Q1 2021 compared to $8.4 million for the three months ended December 31, 2019.
    • For Q1 2021, the gross margin was 23.3% compared to 20.5% for Q1 2020.
    • Operating loss was $167 thousand for Q1 2021 compared to $29 thousand for the three months ended December 31, 2019.
    • For Q1 2021, net income was 1.2 million compared to a net loss of $82 thousand for the three months ended December 31, 2019.
    • Basic and diluted earnings/(loss) per share were $0.12 compared to $0.01 for Q1 2020.
    • As of December 31, 2020, the company had cash and cash equivalents totalled $2.3 million.

    Conclusion

    The Distribution agreement with Chipolo is the reason behind its exceptional surge in the evening session on Tuesday and we hope that FORD will continue its momentum on Wednesday.

  • Early Morning Vibes: Check These 4 Hot Stocks Right Now

    Early Morning Vibes: Check These 4 Hot Stocks Right Now

    Yesterday the US indices plunged deep into the red again. The last two days have seen a brave recovery, but panic broke out yesterday. The S&P 500 index lost 2.45% from a position of 3,829 points and the Nasdaq index fell 3.52% and closed at 13,119 points. The rising bond yields are now really starting to hurt investors. Ten-year yields rose to 1.49% on Thursday and the US 30-year Treasury bond even yields 2.28%. For the first time since early 2020, you will now receive a higher interest rate on this long-term bond than you will receive in dividends on stocks (S&P 500). 

    Technology stocks in particular seem to be affected by these higher interest rates. In recent days, the Nasdaq has lost more than the S&P and Dow Jones. Refinancing debt simply becomes more expensive and thus attracting new capital becomes more difficult. Hardest stocks are hit the hardest, because investors can still get out there with good profits. For example, Baidu lost 10% yesterday and Tesla again lost more than 10%. NVIDIA fell 7.11% and Spotify lost a whopping 9.45%.

     Positive outliers were Twitter (+ 3.71%) and GameStop (+ 18.56%). Twitter revised its earnings forecast upwards and GameStop responded positively to the CFO replacement.
     Today, the sell-off seems to be taking another tail, as futures are sharply lower. In the US, the Nasdaq Future is already 0.7% in the red. 

    Meanwhile, it is hoped that the interest rate rise will cool down quickly, because we are currently seeing panic across the entire market. The VIX (Volatility Index) has risen to a level of 28 points and even gold and silver are being hit. People really seem to be looking for liquidity, because even Bitcoin (-8%) is significantly lower today.

    Today Top Movers

    Lixte Biotechnology Holdings Inc (LIXT)is up 29.97% to $4.90 in premarket trading today.

    Armstrong Flooring Inc. (AFI) stock soared 36.14% to $5.5 in the pre-market trading after signing a definitive agreement to sell South Gate, California property for $76.7 million.

    Northern Dynasty Minerals Ltd. (AMEX: NAK) shares are trading up 33.14% at $0.932 at the time of writing.

    Sensus Healthcare Inc. (SRTS) grew over 15.18% at $4.4 in pre-market trading today. The company recently declared fourth quarter and full year 2020 financial results.

    Top Upgrades & Downgrades

    Needham turned bullish on LivePerson Inc. (LPSN), upgrading the stock to “Buy” and assigning a $71.0 price target, representing a potential upside of 35.81% from Thursday’s close. 

    NetApp Inc. (NTAP) has won the favor of Daiwa’s equity research team. The firm upgraded the shares from Neutral to Outperform and moved their price target to $70, suggesting a 14.36% additional upside for the stock. 

    Spirit Realty Capital Inc. (SRC) received an upgrade from analysts at UBS. They changed their rating on SRC to Neutral from Sell in a recently issued research note.

    Earlier Friday Baird reduced its rating on Voyager Therapeutics Inc. (VYGR) stock to Neutral from Outperform and assigned the price target to $6. 

    Raymond James analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Best Buy Co. Inc. (BBY) has been changed to Outperform from Strong Buy and the new price target is set at $120. 

    Analysts at SVB Leerink downgraded Pandion Therapeutics Inc. (PAND)’s stock to Market Perform from Outperform Friday.

    Latest Insider Activity

    PayPal Holdings Inc. (PYPL) EVP, Chief Strategy & Growth Auerbach Jonathan announced the sale of shares taking place on Feb 23 at $261.38 for some 46,134 shares. The total came to more than $12.06 million. 

    Tapestry Inc. (TPR) VP, Controller, and PAO Dadlani Manesh sold on Feb 24 a total of 19,753 shares at $41.47 on average. The insider’s sale generated proceeds of almost $6801. 

    Ford Motor Company (F) Director THORNTON JOHN L declared the purchase of shares taking place on Feb 23 at $11.62 for some 8,620 shares. The transaction amount was around $0.1 million. 

    DuPont de Nemours Inc. (DD) Director CURTIN TERRENCE R bought on Feb 22 a total 7,500 shares at $69.94 on average. The purchase cost the insider an estimated $524,549.

    Important Earnings

    Top US earnings releases scheduled for today include DraftKings Inc. (NASDAQ: DKNG). It will announce its Dec 2020 financial results. The company is expected to report earnings of -$0.47 per share from revenues of $232.6M in the three-month period. 

    Analysts expect Vistra Corp. (NYSE: VST) to report a net income (adjusted) of $0.76 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $3.39B. 

    EOG Resources Inc. (EOG), due to announce earnings before the market opens today, is expected to report earnings of $0.8 per share from revenues of $3.04B recently concluded three-month period.

  • Early Morning Vibes: Top 4 Stocks To Buy Right Now

    Early Morning Vibes: Top 4 Stocks To Buy Right Now

    Futures for major US stock indices rose on Thursday in anticipation of labor market statistics and a new portion of corporate reporting, according to trading data.

    Futures on the Dow Jones Industrial Average (DJIA) grew by 0.1%, to 30.660 points, on the NASDAQ high-tech index – by 0.41%, to 13449 points, on the broad market S&P 500 index – by 0.16%, up to 3829.88 points.

    Investors are watching for signs that the US economic recovery will continue, despite the large number of cases of infection with coronavirus and new strains of it, against which existing vaccinations may be less effective, which is fraught with new restrictive measures.

    In this light, the market is interested in the statistics of the initial jobless claims, which will be published later on Thursday. Analysts expect a decrease in this number by 17 thousand last week compared to the previous one, to 830 thousand applications.

    In addition, traders are waiting for a new portion of corporate reporting in the United States. For example, investment company Carlyle Group, pharmaceutical Bristol-Myers Squibb and tobacco Philip Morris International should disclose their financials for the past quarter before the opening of trading, and the automaker Ford Motor and Snap, which owns the social networking app Snapchat, are planning to publish a profit report and losses after their closure.

    Today Top Movers

    Bilibili Inc (BILI) share price jumped 11.14% to $150.25 during the early morning ‎trading session on ‎Thursday.‎ As of Q3 2020, Bilibili reported that its total number of monthly active users increased 54% year-over-year to 197.2 million. And the total paying users increased 89% to 15 million.‎

    Cassava Sciences Inc (SAVA) gained over 42.00% at $124.89 in pre-market ‎trading on Thursday.‎ The firm recently declared results of an interim analysis from an open-label study of simufilam, its lead drug candidate for the treatment of Alzheimer’s disease. ‎

    Onconova Therapeutics Inc (ONTX) grew over 6.70% at $0.90 in pre-market trading ‎today. Recently ONTX being granted a European patent for “The Treatment Of Hematological Cancer Refractory To An Anti-Cancer Agent.” 

    DraftKings Inc (DKNG) stock moved up 1.01 percent to $60.72 in the pre-market ‎trading.‎

    Top Upgrades & Downgrades

    Roth Capital turned bullish on Ocugen Inc. (OCGN), upgrading the stock to “Buy” and assigning a $1.0 price target, representing a potential upside of 60.14% from Wednesday’s close. 

    STERIS plc (STE) has won the favor of KeyBanc’s equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $224.0, suggesting a 22.45% additional upside for the stock. 

    FireEye Inc. (FEYE) received an upgrade from analysts at BofA, who also set their one-year price target on the stock to $27. They changed their rating on FEYE to Buy from Neutral in a recently issued research note. 

    Earlier Thursday HC Wainwright & Co. reduced its rating on GW Pharmaceuticals plc (GWPH) stock to Neutral from Buy and assigned the price target to $220.0. With shares trading at around $211.37, the Wall Street firm thinks GW Pharmaceuticals plc’s stock could add than 4.08%. 

    KeyBanc analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Murphy Oil Corporation (MUR) has been changed to Sector Weight from Overweight. 

    Analysts at Oddo BHF downgraded GlaxoSmithKline plc (GSK)’s stock to Neutral from Buy Thursday.

    Latest Insider Activity

    Apple Inc. (AAPL) Director LEVINSON ARTHUR D announced the sale of shares taking place on Feb 02 at $135.60 for some 3,416 shares. The total came to more than $0.46 million. 

    Koss Corporation (KOSS) VP – Marketing & Product Koss Michael J Jr sold on Feb 02 a total 46,000 shares at $25.98 on average. The insider’s sale generated proceeds of almost $0.36 million. 

    MannKind Corporation (MNKD) Chief Executive Officer Castagna Michael declared the purchase of shares taking place on Jan 31 at $1.33 for some 5,000 shares. The transaction amount was around $6650. 

    Texas Instruments Incorporated (TXN) Director Craighead Martin S bought on Jan 28 a total 21,388 shares at $166.91 on average. The purchase cost the insider an estimated $997,294.

    Important Earnings

    Top US earnings releases scheduled for today include Nokia Corporation (NYSE: NOK). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.13 per share from revenues of $7.43B in the three-month period. 

    Analysts expect Ford Motor Company (NYSE: F) to report a net income (adjusted) of -$0.07 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $33.89B. 

    Snap Inc. (SNAP), due to announce earnings after the market closes today, is expected to report earnings of $0.07 per share from revenues of $857.39M recently concluded three-month period.