Today is Tuesday, September 5, 2023.
The Early Bird Index today is 56.11.
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Ford Explorer's Europe Delay
Amid a labor dispute, Ford Motor (NYSE: F) faces new complications that could continue to hold back the stock in 2023.
Details: According to a Reuters report on Monday, Ford plans to push back its SUV Explorer model production in Germany by about six months in order to wait for a new generation of Volkswagen (OTCMKTS: VWAPY) batteries. The production in Europe was expected to begin by early 2024 but will now start next summer.
Also: Another report from the website Ford Authority said that this delay won’t impact the production of other models in Europe.
Bigger Picture: There’s currently a labor dispute over a new contract between auto workers and major auto manufacturers such as Ford. Last week, Ford offered workers a 15% wage increase, but there’s a growing feeling among experts that a strike from the United Auto Workers union seems inevitable. Ford has more workers from that union than the other manufacturers, so a strike would hurt Ford the most.
Stock: Ford is only up about 4% this year, but down 6% in the last 30 days.
Final Thoughts: It’s been a tough year for Ford. Between declining demand for electric vehicles and the current labor issue, the delay in Europe is another headache for investors.
Notable Earnings Today: America's Car-Mart (Nasdaq: CRMT), Zscaler (Nasdaq: ZS), Brady (NYSE: BRC), GitLab (Nasdaq: GTLB), Asana (NYSE: ASAN), HealthEquity (Nasdaq: HQY), AeroVironment (Nasdaq: AVAV).
Notable IPOs Today: Nabors Energy Transition Corp. II Class A Ordinary Shares (Nasdaq: NETD).
Notable Equity Crowdfunding Campaigns Ending Today: LIFT Aircraft (StartEngine), Evolution Devices (Republic), SnapDNA (Republic).
Notable Economic Events Today: Factory Orders (10:00 a.m. ET).
Stellar Has "Something Cool" Coming
The cryptocurrency Stellar saw a big bump on Saturday thanks to an intriguing tweet.
Detail: The Stellar network tweeted on Saturday: “Something cool is dropping in 10 days. Get ready to gear up for a change that's got us all excited. Stay curious.”
Price: Stellar is up 60% this year. In the past week, it is up 3%, which might not sound like a lot, but the crypto industry is facing some pressure. Executives from the trading platform Binance are resigning, causing some crypto traders to sell.
Final Thoughts: What is Stellar’s big “something cool” surprise? We’ll see next week. Keep in mind that alternative coins such as Stellar are known to be volatile.
NextGen Healthcare Could Get Acquired
Keep an eye on the stock of NextGen Healthcare (Nasdaq: NXGN) this week, with a report suggesting that the medical technology company could get acquired.
Details: According to a Bloomberg report on Monday, private equity firm Thoma Bravo could acquire NextGen as early as this week. No decision has been made and the deal could fall through. Both companies did not comment on the report.
Background: NextGen announced in August that it was exploring a potential sale.
Final Thoughts: The stock is up 5% this year, including a 14% jump in the last 30 days due to the acquisition talks. NextGen’s most recent financial results during the summer were better than expected.
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Trends to Watch
Sharing the Love: Solana Is the ‘Most Loved Altcoin Among investors’, Says CoinShares (Decrypt)
Crisis: China’s Biggest Homebuilder Reels as Economy Slows (The New York Times)
Early Departure: Qantas CEO to step down early as airline’s reputation under scrutiny (CNN)
Biggest Loser: Novo Nordisk Europe’s most valuable company based on closing price (Financial Times)
Cord Cutting: One week from MNF, Charter and Disney are “no closer to a deal” (NBC Sports)
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