Kingfisher downgraded to Hold from Buy at Deutsche Bank » 04:3902/0302/03/23
Deutsche Bank analyst…
Standard Chartered upgraded to Buy from Hold at Investec » 04:3402/0302/03/23
Investec analyst Ian…
Ford declares regular Q1 dividend of 15c, supplemental dividend of 65c » 16:2102/0202/02/23
Ford Motor (F) declared a…
Ford Motor (F) declared a first-quarter regular dividend of 15 cents per share and a supplemental dividend of 65 cents per share. In addition to strong cash flow, the supplemental dividend reflects monetization of Ford's stake in Rivian Automotive (RIVN), which began last May and now is nearly complete. The dividends are payable March 1 to shareholders of record at the close of business on Feb. 13. "We have great flexibility to invest in the Ford+ growth plan and return capital to shareholders at the same time. Going forward, we intend to target distributions of 40% to 50% of free cash flow," said CFO John Lawler.
Amazon reports Q4 EPS 3c with Rivian loss, consensus 17c » 16:0302/0202/02/23
Reports Q4 revenue…
Reports Q4 revenue $149.2BB, consensus $145.42B. ""Our relentless focus on providing the broadest selection, exceptional value, and fast delivery drove customer demand in our Stores business during the fourth quarter that exceeded our expectations-and we're appreciative of all our customers who turned to Amazon this past holiday season. We're also encouraged by the continued progress we're making in reducing our cost to serve in the operations part of our Stores business. In the short term, we face an uncertain economy, but we remain quite optimistic about the long-term opportunities for Amazon. The vast majority of total market segment share in both Global Retail and IT still reside in physical stores and on-premises datacenters; and as this equation steadily flips, we believe our leading customer experiences in these areas along with the results of our continued hard work and invention to improve every day, will lead to significant growth in the coming years. When you also factor in our investments and innovation in several other broad customer experiences (e.g. streaming entertainment, customer-first healthcare, broadband satellite connectivity for more communities globally), there's additional reason to feel optimistic about what the future holds," said Andy Jassy, Amazon CEO. Net income decreased to $0.3B in the fourth quarter, or 3c per diluted share. Fourth quarter 2022 net income includes a pre-tax valuation loss of $2.3B included in non-operating income from the common stock investment in Rivian Automotive (RIVN).
Johnson Matthey price target raised to 2,150 GBp at Morgan Stanley » 14:4802/0202/02/23
Morgan Stanley analyst…
Morgan Stanley analyst Charles Webb raised the firm's price target on Johnson Matthey to 2,150 GBp from 2,000 GBp and keeps an Equal Weight rating on the shares.
Rivian call volume above normal and directionally bullish » 10:4502/0202/02/23
Bullish option flow…
Bullish option flow detected in Rivian with 63,401 calls trading, 2x expected, and implied vol increasing over 3 points to 95.02%. Feb-23 23 calls and 2/3 weekly 21 calls are the most active options, with total volume in those strikes near 15,200 contracts. The Put/Call Ratio is 0.23. Earnings are expected on February 28th.
HSBC raises prime rate to 7.75% from 7.50%, effective February 2 18:3802/0102/01/23
Standard Chartered downgraded to Neutral from Buy at Goldman Sachs » 16:1302/0102/01/23
Goldman Sachs analyst…
Goldman Sachs analyst Martin Leitgeb downgraded Standard Chartered to Neutral from Buy with a price target of 885 GBp, up from 845 GBp. The firm sees rate benefits increasingly reflected in the shares and now sees better opportunities elsewhere.
Rivian Automotive to reduce workforce by 6%, Reuters reports » 11:3802/0102/01/23
Rivian Automotive is set…
Rivian Automotive is set to cut 6% of its workforce, or about 840 employees, as part of a cost-cutting effort, Reuters' Abhirup Roy and Akash Sriram report. According to an email from CEO R.J. Scaringe to employees, the company is focusing resources on ramping up vehicle production and reaching profitability. Reference Link
Rivian Automotive cutting workforce by 6%, Reuters reports 11:3602/0102/01/23