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F

Ford

$8.72

0.355 (4.25%)

06:37
01/10/19
01/10
06:37
01/10/19
06:37

Ford to cut jobs, idle plants, change lineup in Europe

Ford is starting consultations with its union partners and other key stakeholders to implement a comprehensive transformation strategy aimed at strengthening the Ford brand and creating a sustainably profitable business in Europe. The strategy - which is part of the company's broader global vision of providing smart vehicles for a smart world - will offer differentiated vehicles designed to create a deeper connection with Ford customers. Near term, Ford is accelerating key fitness actions and reducing structural costs. In parallel, the fundamental redesign will include changes to Ford's vehicle portfolio, expanding offerings and volumes in its most profitable growth vehicle segments, while improving or exiting less profitable vehicle lines and addressing underperforming markets. "We are taking decisive action to transform the Ford business in Europe," said Steven Armstrong, group vice president and president, Europe, Middle East and Africa. "We will invest in the vehicles, services, segments and markets that best support a long-term sustainably profitable business, creating value for all our stakeholders and delivering emotive vehicles to our customers." Ford is entering into formal consultation with its Works Council and trade union partners, and is committed to working together with all key stakeholders to enable the new strategy. To improve near-term financial performance, Ford will drive improvement in profitability across its product portfolio. This improvement will be driven by reducing the complexity of existing Ford products, optimizing the most profitable vehicle configurations, and increasing volumes of profitable vehicle lines. Structural cost improvements will be supported by reduction of surplus labor across all functions - salaried and hourly. An improvement in management structure, announced in December, already is underway through Ford's redesign of its global salaried workforce, that will improve the agility of the organization. Ford aims to achieve the labor cost reductions, as far as possible, through voluntary employee separations in Europe and will be working closely with social partners and other stakeholders to achieve this objective.

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F Ford
$8.72

0.355 (4.25%)

12/13/18
DBAB
12/13/18
INITIATION
Target $12
DBAB
Buy
Ford initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Emmanuel Rosner started Ford Motor with a Buy rating and $12 price target.
12/13/18
DBAB
12/13/18
INITIATION
DBAB
Deutsche Bank initiates auto sector with cautious view
Deutsche Bank analyst Emmanuel Rosner initiated coverage of the auto sector with a cautious view. Rosner said this view reflects "cyclical and macro risks for the industry across the globe, as well as secular pressure from the shift towards electrified vehicles and autonomous shared mobility." The analyst favors suppliers with "secular growth potential through adoption of their technology," and as such, initiated Aptiv (APTV) and BorgWarner (BWA) with Buy ratings. Rosner also saw value in "suppliers that can maintain organic growth through share gains or favorable end-markets, and have favorable operational track record," and as such, initiated Dana Inc (DAN) and Lear Corporation (LEA) with Buy ratings. The analyst also started General Motors (GM) and Ford (F) with Buy ratings, citing "large potential upside from restructuring and portfolio decisions, favorable product mix and cycle, and value optionality from their efforts in Mobility." Rosner said he was negative on stocks facing secular pressure or market share loss, adding that he sees downside risk in Autoliv (ALV) and Veoneer (VNE), which he initiated with Sell ratings.
12/14/18
12/14/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with an Outperform at Wedbush and a Hold at Deutsche Bank. 2. New York Times (NYT) initiated with an Outperform at Evercore ISI. 3. Ford (F) and General Motors (GM) were initiated with a Buy at Deutsche Bank, while Autoliv (ALV) was initiated with a Sell. 4. AstraZeneca (AZN) initiated with a Buy at SunTrust while GlaxoSmithKline (GSK) was initiated with a Hold. 5. DaVita (DVA) initiated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/18/18
MSCO
12/18/18
NO CHANGE
Target $10
MSCO
Equal Weight
Ford potential dividend cut could be a buy signal, says Morgan Stanley
Morgan Stanley analyst Adam Jonas said he continues to expect Ford to cut its dividend in half during 2019, but such a potential cut of the dividend could be a buy signal in his view. Such a cut would be a sign that Ford is prepared to make a stronger commitment to sustainable technology than he believes has been demonstrated thus far, Jonas explained. The analyst, who thinks Ford's decisions in the next 6 months could set the tone for the stock over the next several years, also forecasts Ford will undertake a "very significant" restructuring over the next 12 to 18 months that could reduce the size of the company's footprint by more than 25% and include as much as 25,000 headcount cuts. Jonas maintains an Equal Weight rating and $10 price target on Ford shares.

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Oil Action: Front-month WTI futures are near flat »

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MET

MetLife

$45.32

0.28 (0.62%)

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AMZN

Amazon.com

$1,696.01

4.01 (0.24%)

, TSLA

Tesla

$302.26

-45.18 (-13.00%)

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4.01 (0.24%)

TSLA

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$302.26

-45.18 (-13.00%)

NFLX

Netflix

$339.20

-14.02 (-3.97%)

EA

Electronic Arts

$92.50

3.19 (3.57%)

ATVI

Activision Blizzard

$48.64

1.26 (2.66%)

CMCSA

Comcast

$36.21

0.32 (0.89%)

CMCSK

Comcast

$0.00

(0.00%)

COST

Costco

$213.59

2.15 (1.02%)

ILMN

Illumina

$312.66

2.53 (0.82%)

TMO

Thermo Fisher

$240.72

2.55 (1.07%)

DHR

Danaher

$107.43

1.88 (1.78%)

A

Agilent

$71.93

1.16 (1.64%)

TECH

Bio-Techne

$163.24

1.16 (0.72%)

NEM

Newmont Mining

$31.77

0.15 (0.47%)

GOLD

Barrick Gold

$11.78

-0.11 (-0.93%)

KRC

Kilroy Realty

$68.23

0.21 (0.31%)

VNO

Vornado

$66.40

1.04 (1.59%)

TCEHY

Tencent

$0.00

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NTDOY

Nintendo

$0.00

(0.00%)

17:55
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Periodicals
Nintendo investors starting to feel optimistic again, Bloomberg says »

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T

AT&T

$30.95

0.32 (1.04%)

, CMCSA

Comcast

$36.21

0.32 (0.89%)

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Box Office Battle: 'Glass' wins MLK weekend with $47M »

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T

AT&T

$30.95

0.32 (1.04%)

CMCSA

Comcast

$36.21

0.32 (0.89%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$50.16

0.66 (1.33%)

FOX

21st Century Fox

$48.38

0.32 (0.67%)

FOXA

21st Century Fox

$48.74

0.34 (0.70%)

LGF.A

Lionsgate

$18.25

0.23 (1.28%)

DIS

Disney

$110.97

-0.02 (-0.02%)

VIAB

Viacom

$30.09

0.3 (1.01%)

VIA

Viacom

$33.15

0.2 (0.61%)

03/08/13
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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$266.44

3.45 (1.31%)

16:46
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Periodicals
Trump says deal with China 'could very well happen,' Reuters reports »

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S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$266.44

3.45 (1.31%)

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GM

General Motors

$38.63

0.35 (0.91%)

16:44
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Periodicals
General Motors warns workers in Brazil on losses, Reuters reports »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$266.44

3.45 (1.31%)

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S&P 500

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3.45 (1.31%)

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TSLA

Tesla

$302.26

-45.18 (-13.00%)

16:17
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Periodicals
Tesla gets green light to begin delivering Model 3 in Europe, Bloomberg says »

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SFTBY

SoftBank; also use SFTBF

$0.00

(0.00%)

15:57
01/20/19
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15:57
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15:57
Initiation
SoftBank; also use SFTBF initiated at Deutsche Bank »

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FUJHY

Subaru

$0.00

(0.00%)

, MZDAY

Mazda Motor

$0.00

(0.00%)

13:27
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Periodicals
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FUJHY

Subaru

$0.00

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MZDAY

Mazda Motor

$0.00

(0.00%)

PCRFY

Panasonic

$0.00

(0.00%)

TM

Toyota

$125.40

0.505 (0.40%)

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$266.44

3.45 (1.31%)

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SPDR S&P 500 ETF Trust

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3.45 (1.31%)

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FB

Facebook

$150.01

1.77 (1.19%)

13:11
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AMZN

Amazon.com

$1,696.01

4.01 (0.24%)

13:06
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Periodicals
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CLSD

Clearside Biomedical

$1.16

0.02 (1.75%)

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TCEHY

Tencent

$0.00

(0.00%)

12:59
01/19/19
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Tencent not the best opportunity out there right now, Barron's says »

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BAESY

BAE Systems

$0.00

(0.00%)

12:53
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Bae Systems will mount new charge, Barron's says »

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AMZN

Amazon.com

$1,696.01

4.01 (0.24%)

, COST

Costco

$213.59

2.15 (1.02%)

12:50
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12:50
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Periodicals
Costco might be 'good buy' following 2018 pullback, Barron's says »

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AMZN

Amazon.com

$1,696.01

4.01 (0.24%)

COST

Costco

$213.59

2.15 (1.02%)

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VNO

Vornado

$66.40

1.04 (1.59%)

, KRC

Kilroy Realty

$68.23

0.21 (0.31%)

12:45
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Periodicals
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VNO

Vornado

$66.40

1.04 (1.59%)

KRC

Kilroy Realty

$68.23

0.21 (0.31%)

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