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F

Ford

$9.93

0.12 (1.22%)

08:41
06/12/19
06/12
08:41
06/12/19
08:41

Ford says evaluating options after Federal Circuit ruled in CBP's favor

In a regulatory filing, Ford said that on March 8, 2013, U.S. Customs and Border Protection ruled that Transit Connects imported as passenger wagons and later converted into cargo vans are subject to the 25% duty applicable to cargo vehicles, rather than the 2.5% duty applicable to passenger vehicles. As a result of the ruling, CBP is requiring Ford to pay the 25% duty upon importation of Transit Connects that will be converted to cargo vehicles, and is seeking the difference in duty rates for prior imports. The company's protest of the ruling within CBP was denied, and Ford filed a challenge in the U.S. Court of International Trade, or "CIT." On August 9, 2017, the CIT ruled in Ford's favor. On October 6, 2017, CBP filed a notice of appeal to the U.S. Court of Appeals for the Federal Circuit, and on June 7, 2019, a panel of three Federal Circuit judges ruled in favor of CBP. "We are evaluating our options following the most recent ruling. If we ultimately receive a favorable ruling, we will receive a refund of the contested amounts paid and we will treat the refund as a special item. Similarly, if we are required to pay the higher rate for prior imports, the payment will be treated as a special item. Accordingly, the company adjusted EBIT guidance provided above is not affected by either a refund or a payment related to this matter," Ford said in the filing.

  • 24

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    Oct

F Ford
$9.93

0.12 (1.22%)

05/10/19
BOFA
05/10/19
UPGRADE
Target $14
BOFA
Buy
Ford upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst John Murphy upgraded Ford Motor to Buy from Neutral and raised his price target for the shares to $14 from $13. Ford's earnings are starting to hit a "sustainable inflection" due to favorable product cadence in the North America market and its restructuring efforts, Murphy tells investors in a research note. He believes the company's turnaround story will start getting more credit from investors and that improved execution may allow Ford's multiple to recover over time.
05/10/19
05/10/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. 3D Systems (DDD) upgraded to Neutral from Underweight at JPMorgan with analyst Paul Coster noting the stock is down 25% this week after posting "lackluster" Q1 results. 2. Jones Lang LaSalle (JLL) upgraded to Buy from Neutral at Goldman Sachs with analyst Andrew Rosivach saying the company's earnings declined in Q1 due to tough comps, but this should reverse quickly. 3. Ford (F) upgraded to Buy from Neutral at BofA/Merrill with analyst John Murphy stating the company's earnings are starting to hit a "sustainable inflection" due to favorable product cadence in the North America market and its restructuring efforts. 4. Whirlpool (WHR) upgraded to Buy from Neutral at Longbow with analyst David MacGregor seeing earnings upside from better than expected North American margin performance, a "gradually improving" environment in the EMEA and a favorable cyclical turn in Latin America. 5. Anthem (ANTM), Centene (CNC), and UnitedHealth (UNH) upgraded to Buy from Neutral at Citi with analyst Ralph Giacobbe the magnitude of the selloff in managed care stocks on fears of Medicare for All has been "extreme and overdone". This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/15/19
05/15/19
NO CHANGE

Trump plans to delay imposing tariffs on auto imports, Bloomberg reports
Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM), Volkswagen (VWAGY) and Tesla (TLSA).
05/15/19
MSCO
05/15/19
NO CHANGE
MSCO
Tariff delay a 'modest positive' for automakers, says Morgan Stanley
Morgan Stanley analyst Michael Zezas called media reports indicating that the U.S. plans to delay auto tariffs by up to 6 months a "modest positive" for the automaking group, stating that extra time somewhat reduces the probability of tariffs going into place but that the core impasse between the U.S. and EU - namely whether or not to include agricultural issues in negotiations - still remains and is the real driver of the tariff tension. The analyst, who noted that the U.S. retains the option to implement tariffs at any point within the 180 day delay, said he still thinks auto tariffs are likely to go into effect later this year. Publicly traded automakers that moved up following the headlines regarding the delay decision include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VWAGY).

TODAY'S FREE FLY STORIES

CGC

Canopy Growth

$43.70

0.92 (2.15%)

20:00
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Earnings
Canopy Growth reports Q4 revenue $94.1M vs. $22.8M last year »

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WOPEY

Woodside Petroleum

$0.00

(0.00%)

19:47
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Woodside Petroleum rating change  »

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CCLAY

Coca-Cola Amatil

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19:40
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Coca-Cola Amatil rating change  »

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UNH

UnitedHealth

$247.78

-2.47 (-0.99%)

19:29
06/20/19
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19:29
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19:29
Periodicals
UnitedHealth to acquire Equian from New Mountain Capital, WSJ says »

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KFY

Korn/Ferry

$48.61

1.04 (2.19%)

, EXEL

Exelixis

$21.14

0.15 (0.71%)

19:05
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Hot Stocks
Fly Intel: After Hours Movers »

DOWN AFTER EARNINGS:…

KFY

Korn/Ferry

$48.61

1.04 (2.19%)

EXEL

Exelixis

$21.14

0.15 (0.71%)

SEE

Sealed Air

$43.68

-0.13 (-0.30%)

PYPL

PayPal

$118.82

1.66 (1.42%)

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  • 20

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EXEL

Exelixis

$21.14

0.15 (0.71%)

, RHHBY

Roche

$0.00

(0.00%)

19:01
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Exelixis informed by Genentech that IMspire170 did not meet primary endpoint »

In a regulatory 8-k…

EXEL

Exelixis

$21.14

0.15 (0.71%)

RHHBY

Roche

$0.00

(0.00%)

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INVH

Invitation Homes

$27.68

-0.07 (-0.25%)

18:55
06/20/19
06/20
18:55
06/20/19
18:55
Syndicate
Invitation Homes 37.5M share Spot Secondary priced at ~$26.67 »

The deal priced for $1B…

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  • 21

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MDB

MongoDB

$173.76

-0.33 (-0.19%)

18:44
06/20/19
06/20
18:44
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18:44
Hot Stocks
MongoDB CEO: Every company is becoming a software company »

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  • 10

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VRML

Vermillion

$0.89

-0.1575 (-15.00%)

18:37
06/20/19
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Vermillion adds two contracted agreements for OVA1 cancer risk test »

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CAT

Caterpillar

$133.66

2.97 (2.27%)

18:34
06/20/19
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18:34
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18:34
Hot Stocks
Caterpillar CEO: We take a long-term view »

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UNH

UnitedHealth

$247.78

-2.47 (-0.99%)

18:22
06/20/19
06/20
18:22
06/20/19
18:22
Periodicals
Breaking Periodicals news story on UnitedHealth »

UnitedHealth said to…

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BKS

Barnes & Noble

$6.71

0.055 (0.83%)

18:20
06/20/19
06/20
18:20
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18:20
Downgrade
Barnes & Noble rating change at Gabelli »

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CSGP

CoStar Group

$555.39

-0.78 (-0.14%)

18:11
06/20/19
06/20
18:11
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Hot Stocks
CoStar Group acquires Off Campus Partners »

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  • 13

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BDX

Becton Dickinson

$245.32

7.2 (3.02%)

17:55
06/20/19
06/20
17:55
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17:55
Hot Stocks
Becton Dickinson backs safety of its Lutonix drug-coated balloons in SFA »

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  • 20

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CPF

Central Pacific

$28.49

-0.13 (-0.45%)

17:41
06/20/19
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Central Pacific authorizes buyback of up to $30M in common stock »

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AEL

American Equity

$27.51

0.3 (1.10%)

17:33
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17:33
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Hot Stocks
American Equity director Debra Richardson sells almost $2.2M in company shares »

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SEE

Sealed Air

$43.68

-0.13 (-0.30%)

17:28
06/20/19
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17:28
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Earnings
Sealed Air backs FY19 adjusted EPS view $2.65-$2.75, consensus $2.73 »

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SEE

Sealed Air

$43.68

-0.13 (-0.30%)

17:27
06/20/19
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Sealed Air names James Sullivan as new CFO, effective June 24 »

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AJRD

Aerojet Rocketdyne

$43.01

1.49 (3.59%)

17:27
06/20/19
06/20
17:27
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17:27
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Aerojet Rocketdyne subsidiary awarded $140.18M missile defense modification »

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SEE

Sealed Air

$43.68

-0.13 (-0.30%)

17:25
06/20/19
06/20
17:25
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17:25
Hot Stocks
Sealed Air terminates CFO William Stiehl for cause, effective immediately »

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BBU

Brookfield Business Partners

$41.25

1.28 (3.20%)

, BAM

Brookfield

$48.38

0.29 (0.60%)

17:15
06/20/19
06/20
17:15
06/20/19
17:15
Syndicate
Brookfield Business Partners announces $795M equity offering »

Brookfield Business…

BBU

Brookfield Business Partners

$41.25

1.28 (3.20%)

BAM

Brookfield

$48.38

0.29 (0.60%)

03/08/13
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  • 08

    Aug

AXLA

Axcella

$10.39

0.27 (2.67%)

17:13
06/20/19
06/20
17:13
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Earnings
Axcella reports Q1 EPS ($2.43), consensus (49c) »

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LKSD

LSC Communications

$5.83

0.07 (1.22%)

17:11
06/20/19
06/20
17:11
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Hot Stocks
LSC comments on DOJ action regarding proposed transaction with Quad »

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QUAD

Quad/Graphics

$9.75

0.09 (0.93%)

, LKSD

LSC Communications

$5.83

0.07 (1.22%)

17:10
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Hot Stocks
Quad/Graphics intends to defend proposed LSC Communications acquisition »

Quad/Graphics (QUAD)…

QUAD

Quad/Graphics

$9.75

0.09 (0.93%)

LKSD

LSC Communications

$5.83

0.07 (1.22%)

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SFM

Sprouts Farmers Market

$19.52

0.14 (0.72%)

17:04
06/20/19
06/20
17:04
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Hot Stocks
Sprouts Farmers Market interim co-CEO/CFO Brad Lukow resigns »

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  • 13

    Nov

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