|Bid||4.8700 x 40000|
|Ask||4.8800 x 38800|
|Day's range||4.7000 - 5.0300|
|52-week range||3.9600 - 10.5600|
|Beta (5Y monthly)||1.36|
|PE ratio (TTM)||484.00|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||28 Jan 2020|
|1y target est||N/A|
During his daily White House appearances, President Trump has not shied away from calling out companies by name. Here’s a running tally of the companies he’s focused most of his attention on.
With coronavirus concerns dimming earnings and sales prospects, carmakers are resorting to cost-containment initiatives and drawing down their credit lines to preserve cash.
Many U.S. carmakers are now looking at resuming production in May after President Trump last week extended the guidelines aimed at containing the spread of the coronavirus till Apr 30.
Honda Motor Co and Fiat Chrysler Automobiles NV said on Monday they hope to restart U.S. and Canadian auto production in May amid the ongoing coronavirus pandemic. Fiat Chrysler said Monday it "intends to progressively restart its U.S. and Canadian manufacturing facilities beginning May 4." U.S. President Donald Trump last week extended the guidelines aimed at slowing the spread of the coronavirus to April 30.
The U.S. auto industry took a hit in the first quarter due to COVID-19 that forced people to stay home for the most of March, denting business of one of the nation's largest industries.
(Bloomberg) -- A federal program to issue rebates to consumers toward new vehicles could provide a much-needed jolt to the U.S. auto industry that’s seen plants idled and showrooms emptied by the coronavirus, according to the Obama administration official who oversaw the program known as “cash for clunkers.”Ray LaHood oversaw the program officially named Cars Allowance Rebate System as U.S. Transportation Secretary in 2009. In an interview, he backed a Ford Motor Co. executive’s suggestion that a sequel to the program could be helpful if the industry, lawmakers and the Trump administration agree that auto demand needs a boost once the virus begins to abate.“It was a lifeline to the car dealers whose showrooms were looking pretty bleak without any customers, and I think if you talk to anybody in the automobile industry it was the beginning of the lifeline for the automobile industry from the Obama administration,” LaHood said Thursday. “If they can model something differently to suit the current-day situation, I’m for that.”Carmakers, suppliers and dealers have grown increasingly nervous about their near-term prospects as the virus has ground the industry to a halt and spurred discussion about possible need for government support. New vehicles sold at the slowest pace in a decade in March as government directives closed broad swaths of the economy to thwart the spread of the virus. Nearly every U.S. auto factory has been idled and executives will be hard pressed to restart them until consumers begin to buy cars again.AutoNation Inc, the largest U.S. dealership chain, said Friday that new- and used-car sales plunged 50% in the last two weeks of March and prompted the company to put 7,000 employees on unpaid leave. The retailer slashed executive pay, halving compensation for its chairman and chief executive officer. It also froze hiring and will cut advertising and other capital expenditures.Ford has begun internal deliberations about potential forms of government stimulus, including a clunkers-style program that the industry may need, and those talks are expected to soon involve the federal government, Mark LaNeve, the automaker’s U.S. sales chief, said Thursday.“We think some level of stimulus somewhere on the other side of this would help not only the auto industry and our dealers, which are a huge part of our overall economy, but will help the customers as well,” LaNeve said by phone. “We’re in discussions about what would be the most appropriate.”The 2009 program gave consumers a federal rebate of up to $4,500 toward trading in an older, less fuel-efficient car. LaHood said the program not only provided a much-needed boost to the auto industry but put cleaner cars on the road and scrapped gas guzzlers.Consumers quickly exhausted the initial $1 billion in funds allocated by Congress, which provided $2 billion more. That $3 billion triggered more than $13 billion in auto purchases in just a few months, Morgan Stanley analyst Adam Jonas wrote in a March 13 report in which he called such a rebate program a potentially powerful tool to stimulate the sector.So far though, policymakers haven’t openly discussed specific forms of industry aid. Automakers have so far urged lawmakers and the Trump administration to pursue broad means of economic support, stopping short of calling for aid specific to the auto sector.U.S. Representative Debbie Dingell, a Michigan Democrat whose district is home to Ford’s headquarters, said a vehicle scrappage or purchase incentive has been discussed as a possible form of relief for the industry, but consensus hasn’t been reached yet in Washington.“It’s out there as an idea along with many other ideas,” Dingell said. “We’re working with the entire ecosystem of automakers, workers, their unions, suppliers, dealers and consumers.”(Adds biggest U.S. dealership chain announcing unpaid leave for employees in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The ratio of Hackett's annual compensation to the median of the annual compensation of all employees was 157 to 1, Ford said. Executive Chairman William Ford received a total salary of $16.8 million in 2019, up from $13.8 million in 2018. Government orders for social distancing and businesses to shut in the face of the coronavirus pandemic has stalled demand across the auto industry and sent companies scrambling to cut costs and beef up liquidity.
The company's shares fell more than 2% to $4.25 in the New York stock exchange. "Ford's production restart plans depend heavily on the pandemic situation in the weeks ahead, national restrictions in operation at the time, supplier constraints and the ability of our dealer network to operate," the company said in a statement. The company's U.S. sales chief has said that once the crisis eases, some level of government stimulus will be needed to support car buyers in the face of an unprecedented decline in sales and rising claims for unemployment benefits.
General Motors Co on Thursday rolled out a series of safety measures for workers in Indiana who will make ventilators, outlining what could be a blueprint for opening U.S. auto plants in the coming weeks. More than 1,000 GM workers will make the ventilators at GM's Kokomo, Indiana, plant. The automaker aims to begin mass production by mid-April and to make 10,000 ventilators a month by summer.
"It’s hard to determine how long and what the lingering effects of this will be," Mark LaNeve told Reuters after the company reported lower quarterly sales as a result of the pandemic. The No. 2 U.S. automaker posted a 12.5% fall in U.S. auto sales for the first quarter. Government orders for businesses to shutter and consumers to remain at home in the face of the coronavirus pandemic stalled demand across the auto industry.
Deals were put on hold, investor meetings canceled, and fundraising schedules postponed as market participants faced a health crisis of unprecedented reach and magnitude. Healthcare companies such as Bausch Health and Pharmaceutical Product Development (PPD), as well as British technology firm Micro Focus pulled transactions as the borrower-friendly market all but vanished.
The auto industry is reeling amid the coronavirus. TPG Global senior advisors and former Ford CEO Mark Fields chats with Yahoo Finance.
Driving to work at his factory to the west of London last week, designer Steve Brooks had coronavirus on his mind. "Everyone has to use their little finger or find the bit of the door that nobody's touched," said the designer and owner at DDB Ltd, a company which makes office furniture. From furniture makers to AI software developers, companies around the world are adapting existing products or inventing new ones to help fight the pandemic or just make life easier for those working from home, in hospitals or stuck in quarantine.
Hundreds more ventilators ordered by Britain from businesses and approved by health regulators could be ready following the delivery of an initial batch at the weekend, the government said in a statement on Tuesday. The statement, building on the earlier announcement of the date of the first batch, also said thousands of other new devices to help fight coronavirus would be made available in the coming weeks. Britain has ordered 10,000 of the ventilator model, known as 'Penlon', from a consortium including Ford, Airbus and McLaren.