Shares of Ford Motor Co. (NYSE:F) [Detail Analytic Report] moved up early trading session on Monday as it has generated pretax profits totaling $45B in North America. It lost $1.8B in the rest of world. In addition, North America’s position as Ford’s profit driver remains getting stronger. In an interview at automaker’s worldwide headquarters Friday, April 29, Joe Hinrichs, Ford president of Americas, noted that region has achieved record profits in three out of four quarters.
A great contract of that traces back to a smooth release of redesigned aluminum-bodied F-150, a high-stakes reworking of manufacturing processes that Hinrichs oversaw. The containing a increasing industry didn’t hurt, he added, other than F-150 is a major factor. Hinrichs added that shows you strength of industry, strength of their product portfolio broadly speaking and strength of the F-150 following they got the new one launched.
On the other hand, Ford broke through with a first-time win for Ford GT at Continental Monterey Grand Prix at Mazda Raceway Laguna Seca Sunday, other than Ford wasn’t car and manufacturer most were anticipating to own day.
Noting a main crunch of analyst research by WSJ, F under observation of quarterly per share earnings, it has second quarter 2016 trend of $0.59, while in next quarter estimated EPS trend is $0.43 and for annual basis for 2016 estimated EPS is $2.05. Relatively pool of WSJ analyst issues diverse rating, as for current level it has 8 experts rated as “BUY” security, 1 analyst recommend as “Overweight,” and 10 experts rated as “Hold”.
Fiat Chrysler Automobiles N.V. (NYSE:FCAU) [Detail Analytic Report] released that on April 30 and May 1, 2016, deed of demerger relating to ordinary shares in RCS MediaGroup S.p.A. held by FCA in favor of Interim One B.V. was executed and demerger became effective on May 1, 2016 and liquidation of Interim One B.V. and the advance distribution of the ordinary shares in RCS were approved.
On the other hand, Google (GOOGL) along with Fiat Chrysler Automobiles NV are close to deciding on a partnership that could break boundaries among Silicon Valley and the auto industry in race to develop self-driving cars, people familiar with discussions reported on Friday. The partnership could be announced soon, three people familiar with the situation told Reuters on condition of anonymity because the discussions were private. The talks were first reported Thursday by the blog AutoExtremist.com. “Dialogue continues with people who are interested in exploring their relevance in the automotive world and we will continue to help them find their way out,” Marchionne said in response to a question about working with non-traditional automakers.
Ferrari N.V. (NYSE:RACE) [Detail Analytic Report] plans to hire Chairman Sergio Marchionne to restore Amedeo Felisa as CEO as early as Monday, as per reported by people familiar with matter. With addition of CEO job, Marchionne, at age of 63, would take full blame for expanding luxury sports-car maker after its January spinoff from Fiat Chrysler Automobiles NV, which he orchestrated. Marchionne is as well CEO of Fiat Chrysler. Ferrari representatives refused to comment. Marchionne released Ferrari’s separation from London-based Fiat Chrysler a few weeks following he took over as chairman in 2014. He restore Luca Cordero di Montezemolo, who stepped down after more than two decades following clashes on strategy.