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Ford's Electric Vehicle Loss 📉

And, VF Corp sees Vans improvement.

October 29, 2024

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Today is Tuesday, October 29, 2024.

The Early Bird Index today is 74.37.

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Ford's Electric Vehicle Loss 📉

Some disappointing financial results in the electric vehicle unit sent the Ford Motor Company (NYSE: F) down by 5.98% in after-hours trading on Monday.

Financials: Ford reported earnings of 49 cents per share in the past quarter and revenue of $43.06 billion; both were better than expected.

Details: While Ford’s traditional business did well, the electric vehicle business struggled. Ford’s EV unit lost $1.2 billion during the quarter.

Early Bird’s Nest Egg Gains: There has been a slowdown in EV sales growth compared to previous years due to a shortage of rapid-charging stations, consumer concerns about driving ranges, and uncertainty around government policies due to upcoming elections.

Final Thoughts: Ford was down 6.50% this year. It is struggling to turn things around.

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Notables

Notable Earnings Today: Alphabet (Nasdaq: GOOGL), Advanced Micro Devices (Nasdaq: AMD), SoFi Technologies (Nasdaq: SOFI), PayPal Holdings (Nasdaq: PYPL), Snap (NYSE: SNAP), McDonald's (NYSE: MCD), Chipotle Mexican Grill (NYSE: CMG), Caesars Entertainment (Nasdaq: CZR), Comcast (Nasdaq: CMCSA) Pfizer (NYSE: PFE), Visa (NYSE: V), Electronic Arts (Nasdaq: EA), Royal Caribbean (NYSE: RCL), Stanley Black & Decker (NYSE: SWK), JetBlue Airways (Nasdaq: JBLU), Reddit (NYSE: RDDT), D.R. Horton (NYSE: DHI), First Solar (Nasdaq: FSLR), Phillips 66 (NYSE: PSX), Xerox (Nasdaq: XRX), Qorvo (Nasdaq: QRVO), Tenet Healthcare (NYSE: THC), Mondelez International (Nasdaq: MDLZ), Chubb (NYSE: CB), Enterprise Products (NYSE: EPD), Enovix (Nasdaq: ENVX), 10x Genomics (Nasdaq: TXG), Adtalem Global Education (NYSE: ATGE), Alignment Healthcare (Nasdaq: ALHC), Allison Transmission (NYSE: ALSN), American Tower (NYSE: AMT), Armstrong World Industries (NYSE: AWI), Asbury Automotive (NYSE: ABG), ATI Inc. (NYSE: ATI), BioMarin Pharmaceutical (Nasdaq: BMRN), BP (NYSE: BP), CBIZ (NYSE: CBZ), CECO Environmental (Nasdaq: CECO), Check Point Software (Nasdaq: CHKP), Cheesecake Factory (Nasdaq: CAKE), Crocs (Nasdaq: CROX), Commvault Systems (Nasdaq: CVLT), Corning (NYSE: GLW), CTS Corp (NYSE: CTS), DT Midstream (NYSE: DTM), Eagle Materials (NYSE: EXP), Ecolab (NYSE: ECL), Edison International (NYSE: EIX), ESAB Corp. (NYSE: ESAB), Franklin Electric (Nasdaq: FELE Frontier Group Holdings (Nasdaq: ULCC), Graphic Packaging (NYSE: GPK), H&E Equipment (Nasdaq: HEES), Harmony Biosciences (Nasdaq: HRMY), Hayward Holdings (NYSE: HAWY), HNI (NYSE: HNI), Hubbell (NYSE: HUBB), Huron Consulting (Nasdaq: HURN), Incyte (Nasdaq: INCY), IPG Photonics (Nasdaq: IPGP), ITT (NYSE: ITT), Janus International Group (NYSE: JBI), Kiniksa Pharmaceuticals (Nasdaq: KNSA), Landstar System (Nasdaq: LSTR), Leidos (NYSE: LDOS), Masco (NYSE: MAS), MSCI (NYSE: MSCI), NerdWallet (Nasdaq: NRDS), Northwest Bancshares (Nasdaq: NWBI), PJT Partners (NYSE: PJT), PROS Holdings (NYSE: PRO), Republic Services (NYSE: RSG), SAGE Therapeutics (Nasdaq: SAGE), Scorpio Tankers (NYSE: STNG), Sysco (NYSE: SYY), Stryker (NYSE: SYK), Udemy (Nasdaq: UDMY), Varonis Systems (Nasdaq: VRNS), Werner Enterprises (Nasdaq: WERN), Zebra Technologies (Nasdaq: ZBRA).

Notable IPOs Today: Thumzup Media Corporation Common Stock (Nasdaq: TZUP), Gelteq Limited Ordinary Shares (Nasdaq: GELS), Polyrizon Ltd. Ordinary Shares (Nasdaq: PLRZ).

Notable Equity Crowdfunding Campaigns Ending Today: ReelView Fishing (StartEngine).

Notable Economic Events Today: Goods Trade Balance (8:30 a.m. ET), Retail Inventories Excluding Auto (8:30 a.m. ET), S&P Case-Shiller home price index (9:00 a.m. ET), CB Consumer Confidence (10:00 a.m. ET), JOLTS Job Openings (10:00 a.m. ET), API Weekly Crude Oil Stock (4:30 p.m. ET).

VF Corp Sees Vans Improvement

The apparel and footwear company VF Corp (NYSE: VFC) jumped 23.19% in after-hours trading on Monday after posting strong financial earnings results.

Financials: VF Corp reported earnings of 60 cents per share in the past quarter and revenue of $2.8 billion; both were better than expected.

Final Thoughts: The company said its Vans brand has been “improving” since the last period.

Bitcoin Jumps Past $70K

The price of Bitcoin had a strong Monday with a 5% gain.

Final Thoughts: Bitcoin is now above $70,000 for the first time in several months.

Election Wagers: Robinhood jumps into election betting (Axios)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.