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F

Ford

$9.90

0.06 (0.61%)

09:01
06/27/19
06/27
09:01
06/27/19
09:01

Ford to cut 12,000 jobs in Europe by end of 2020

Ford said in a statement that it is launching a new business model and fresh vehicle line-up as part of the most comprehensive redesign in the history of its business in Europe. The company also is on track to significantly improve its financial results in Europe this year, paving the way to sustainable profitability and its longer-term goal of delivering a 6% EBIT margin. The new European operating model and resulting organization are effective July 1. Three new business groups - Commercial Vehicles, Passenger Vehicles and Imports - are being established to facilitate fast decision-making centered on customer needs, Ford said. Ford is freshening and expanding its vehicle line-up in Europe, introducing at least three new nameplates in the next five years as it continues to grow its utility vehicle portfolio, including the all-new Mustang-inspired fully electric performance utility. The new nameplates are in addition to all-new Kuga, Puma and Explorer Plug-In Hybrid coming by early 2020. Manufacturing efficiency is being improved through the previously announced proposed or confirmed closure or sale of six assembly and component manufacturing plants by the end of next year: Proposed closure of Bridgend Engine Plant in South Wales; Closure of Ford Aquitaine Industries Transmission Plant in France; Closure of Naberezhnye Chelny Assembly, St. Petersburg Assembly and Elabuga Engine Plant in Russia; Sale of the Kechnec Transmission Plant in Slovakia to Magna. As a result, Ford's manufacturing footprint in Europe will be reduced to a proposed 18 facilities by the end of 2020, from 24 at the beginning of 2019. In the U.K., the Ford of Britain and Ford Credit Europe headquarters in Warley also will close later this year and operations consolidated in Dunton. In addition, Ford is implementing shift reductions at its assembly plants in Saarlouis, Germany, and Valencia, Spain, as well as a more streamlined management structure and marketing and sales operations. In total, approximately 12,000 jobs will be impacted at Ford's wholly owned facilities and consolidated joint ventures in Europe by the end of 2020, primarily through voluntary separation programs. Around 2,000 of those are salaried positions, which are included among the 7,000 salaried positions Ford is reducing globally.

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    Jul

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  • 23

    Oct

F Ford
$9.90

0.06 (0.61%)

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).
06/13/19
GSCO
06/13/19
NO CHANGE
Target $13
GSCO
Buy
Ford recent pullback a buying opportunity, says Goldman Sachs
Goldman Sachs analyst David Tamberrino recommends using the recent pullback in shares of Ford Motor as a buying opportunity. He raised his price target for the shares to $13 from $12 and reiterates a Buy rating on the name. Near-term catalysts from European restructuring actions "can help crystallize" upside in Ford shares, Tamberrino tells investors in a research note. The analyst believes investors will begin to start "underwriting improvement" in the company's European region as restructuring actions come to fruition. Tamberrino sees over 38% total return potential to Ford shares.
06/26/19
FBCO
06/26/19
INITIATION
Target $13
FBCO
Outperform
Ford initiated with an Outperform at Credit Suisse
Credit Suisse initiated Ford with an Outperform and $13 price target.
06/27/19
06/27/19
INITIATION
Target $13

Outperform
Credit Suisse bullish on Ford, initiates with an Outperform
As previously reported, Credit Suisse analyst Dan Levy initiated Ford with an Outperform rating and $13 price target. The analyst acknowledges that Ford faces a number of risks ahead, as it redesigns its business to address profitability, while concurrently pursuing a longer-term reimagining of the business. Yet he sees upside for the stock, as there have been early signs of improvement with more to come.

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HAFC

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PAYS

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MEOH

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Conference/Events
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SONM

Sonim

$13.42

0.24 (1.82%)

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KINS

Kingstone Companies

$8.81

0.09 (1.03%)

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BA

Boeing

$377.34

16.17 (4.48%)

, MSFT

Microsoft

$136.62

0.33 (0.24%)

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BA

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$377.34

16.17 (4.48%)

MSFT

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0.33 (0.24%)

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VIX

Volatility Index S&P 500 Options

$0.00

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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BCBP

BCB Bancorp

$12.71

-0.09 (-0.70%)

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Earnings
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$NYE

NYSE Market Internals

$0.00

(0.00%)

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CNXM

CNX Midstream Partners

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-0.205 (-1.41%)

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  • 30

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TELL

Tellurian

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16:15
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General news
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ROKU

Roku

$106.83

-2.18 (-2.00%)

16:13
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Conference/Events
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