Followers | 681 |
Posts | 141655 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Thursday, October 26, 2023 9:41:15 AM
By: Investing | October 26, 2023
(Reuters) - Ford (NYSE:F) shares rose 3% before the bell on Thursday as the company's unionized workers were set to return to work following a tentative agreement between the automaker and the United Auto Workers (UAW) union guaranteeing a record wage hike.
Rival General Motors (NYSE:GM)' shares also rose 1% as analysts expected the automaker to follow Ford in reaching a deal that would end a strike at some of its most profitable plants.
The total economic loss from the autoworkers' strike has reached $9.3 billon, consultancy Anderson Economic Group said earlier this week.
The proposed deal between Ford and the UAW provides a 25% wage hike over the 4-1/2-year contract, starting with an initial increase of 11%.
GM and Stellantis (NYSE:STLA) have previously offered a 23% wage increase.
Stellantis' U.S.-listed shares were down 1.5% in premarket trading on Thursday as the automaker announced a $1.6 billion deal to buy a 21% stake in electric-vehicle maker Leapmotor (HK:9863).
Ford and GM shares trade 6.2 times and 4.3 times forward profit estimates, respectively.
The focus will now be on ratification by Ford's 57,000 UAW workers.
"We estimate the ratification will take 1-2 weeks. The process starts on Oct. 29 when the UAW Council votes to send the tentative agreement to members," said Wells Fargo analyst Colin Langan, adding that the deal will be a template for GM and Stellantis.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent F News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 09:25:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/24/2024 08:40:13 PM
- John Lawler to Highlight Progress of Ford+ Plan During ‘Chat’ at Deutsche Bank 2024 Global Automotive Conference • Business Wire • 05/24/2024 08:30:00 PM
- CalPERS to Oppose Exxon Mobil Directors; Microsoft Unveils Copilot+ PCs with AI Focus, and More News • IH Market News • 05/21/2024 11:18:35 AM
- Lone Star Electrification: City of Dallas Selects Ford Pro to Advance EV Charging Infrastructure • Business Wire • 05/21/2024 11:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:24:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:24:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:24:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:23:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:23:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:22:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:22:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:22:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:21:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:21:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:21:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:20:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:20:02 PM
- OpenAI’s Reddit Partnership Boosts Shares by 14%, Microsoft Embraces AMD Chips for AI, and More News • IH Market News • 05/17/2024 11:36:28 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/14/2024 08:07:18 PM
- Farley to Discuss Progress of Customer-Focused Ford+ Plan At May 30 Bernstein Annual Strategic Decisions Conference • Business Wire • 05/13/2024 08:05:00 PM
- Arm Sets 2025 Target for AI Chip Development, Amazon and Microsoft Commit Billions to French Investments, and More • IH Market News • 05/13/2024 11:16:03 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/10/2024 12:04:31 PM
- Novavax Surges 57% Post $1.4 Billion Sanofi Deal; Apple Boosts Data Centers with AI and Internal Chips, and More News • IH Market News • 05/10/2024 12:02:56 PM
- Ford Names Lawler Vice Chair With Expanded Ford+ Role; House Joins as Finance VP, to Transition Into CFO Role • Business Wire • 05/10/2024 12:00:00 PM
Branded Legacy Secures Exclusive Extraction Partnership with One of the World's Largest Kava Distributors and Producers • BLEG • May 30, 2024 8:30 AM
ECGI Holdings, Inc. Announces $2 Million Debt-to-Equity Conversion • ECGI • May 30, 2024 8:30 AM
North Bay Resources Reports Assays up to >25% Mg, 0.1% Ni, 0.1% Cu, 0.01% Co, 0.3 ppm Pt at Tulameen Platinum Project, British Columbia • NBRI • May 29, 2024 9:03 AM
One World Products, Inc. Issues Shareholder Update • OWPC • May 29, 2024 8:20 AM
Green Leaf Innovations, Inc. Engages Olayinka Oyebola & Co for Two-Year Audit • GRLF • May 28, 2024 8:30 AM
HealthLynked Introduces AI-Powered Chat Function to Enhance Healthcare Accessibility • HLYK • May 28, 2024 8:00 AM