Tesla CEO Elon Musk casually dropped a mesmerizing announcement on Twitter over the weekend, teasing that the electric vehicle manufacturer's "magic" pickup truck could be unveiled within the next quarter. We’re close, but the magic is in the final details. Maybe 2 to 3 months. — sqrt(E/m) (@elonmusk) July 27, 2019 There’s been a deluge of hype behind Tesla’s truck after Musk previously...
Ford launched a video today of its "all-electric F-150 prototype." The truck is capable of towing more than 1 million pounds, which the company proved by using its prototype to pull nearly a dozen "double-decker freight cars" filled with other F-150 trucks. Even though Ford's truck isn't ready yet, the company didn't hold back and showed it off to the world including Elon Musk. The Tesla CEO no...
By CCN: Ford is in the throes of an $11 billion restructuring, which will cost 7,000 white-collar workers their jobs this year. The US auto giant believes the "smart redesign" will save billions, but the Dearborn-based company's stock continues to struggle. Ford's 'Smart Redesign' Will Save Billions Reportedly, the company is vastly downsizing its managerial workforce. Of the company’s more than...
By CCN: The stock price of Ford Motor Company leaped by a staggering 10.7 percent on Friday, allowing the company to achieve a $41 billion valuation and overtake upstart competitor Tesla in total valuation. Two key fundamental catalysts of Ford’s rebound in the first quarter of 2019 were the firm’s profitability in Europe after nine months of net losses and strong sales of pickups in the U.S. In...
By CCN: Tesla stock endured another major blow on Wednesday after US auto giant Ford piled $500 million into electric truck manufacturer Rivian, which had already secured a major investment from Amazon. TSLA shares fell 1.94 percent on the day to $258.77 after sliding below technical support at $260. Ford stock (F), meanwhile, rose 0.21 percent to outperform the overall stock market. Ford Bets on...
On April 1, the Dow Jones demonstrated a strong short-term recovery with a 1.27 percent increase within hours, crossing the 26,000-point mark and achieving 26,258 points for the first time since October 2018. While investors oversold stocks in December, throughout January and February, investors were lured back into the market out of fear of missing out, or FOMO, as the U.S. equities market began...
By CCN.com: Ford gave its fourth-quarter earnings call this afternoon. Despite a serious decline in interest in China and Europe, the company posted a 1% improvement over last year’s Q4 revenues as a whole, and a 2% gain for the whole year. The earnings call was launched as the markets closed with F seeing a nearly 2% drop in share price. CEO Jim Hackett said: In 2018, our F series outsold the...
By CCN.com: Elon Musk and Tesla’s poor start to 2019 looks like it’s set to get worse. After news of a $1 billion debt balance and cost-cutting layoffs, analysts are adding to Tesla’s trauma. Tesla shares ended yesterday 1.11% down. Premarket moves showed a further fall for Tesla of over 2% as RBC downgrades the stock to “underperform.” RBC Says Tesla Will “Underperform” and a Third of Tesla...