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Hertz CEO says summer vacations to boost rental car demand
... beat analysts' first-quarter expectations for top and bottom-line growth at a time when tight vehicle supplies enable rental companies to charge record high rates. Scherr , a former Goldman Sachs finance chief who became Hertz CEO at the end of February,... ... committed to transitioning to electric vehicles EV and that he will partner with all manufacturers to purchase EVs , including Ford and General Motors . Hertz has also signed deals with Tesla and Polestar to acquire tens of thousands of EVs . The Tesla vehicles were ...
Updated: 04/30/2022
Former Toys R Us CEO Storch warns against Amazon
... company accounted for a $7.6 billion loss in the value of its stock investment because of the declining price of Rivian Automotive shares. Rivian went public in late 2021 and its stock was close to $180 at one point. It closed Thursday at $32.18. Ford Motor Co. reported a similar write-down of its Rivian investment Wednesday. Storch is bullish, even though Amazon has not seen a quarterly loss in seven years. Amazon sales were up 40% over a year ago. He said that it's still 40% over the two years. ...
Updated: 04/29/2022
More than a quarter-million Explorer SUVs recalled for rolling away
Ford Motor Co. recalls more than a quarter-million Explorer SUVs in the U.S. because they can roll away unexpectedly while they are shifted into park. Ford Motor Co. recalls more than a quarter-million Explorer SUVs in the U.S. because they can roll away ...
Updated: 04/29/2022
Taiwan tech supplier Delta Electronics expanding manufacturing on surge in electric vehicles
... Delta Electronics ' logo is pictured at their office. TAIPEI - Taiwan Delta Electronics Inc , a supplier of power components to companies such as Apple and Tesla Inc ., is expanding manufacturing everywhere on a boom in electric vehicles and servers, it ... ... China, was seeing strong demand for electric vehicles, or EVs, servers and data centres. More traditional automakers, such as Ford Motor Co, are seeing their EV sales soar, a trend that will continue to Delta 's benefit, he said. Our auto department is often ...
Updated: 04/29/2022
Amazon, Intel report both report that don't meet expectations
... quarterly loss since 2015. The online retailer and Intel both released forecasts that didn't meet the mark. The shares of both companies fell in the after-hours session and will have an impact on Friday morning's trading. Amazon was stalled by the COVID ... ... Amazon's report. Rivian went public in late 2021 and its stock was close to $180 at one point. It closed Thursday at $32.18. Ford Motor Co. reported a similar write-down of its Rivian investment Wednesday. The pressure of increased costs has also been felt ...
Updated: 04/29/2022
SK Innovation Q1 profit jumps 182% to US$1.26 billion
... the January-March quarter from 584 billion won a year earlier. SK Innovation 's wholly owned battery unit SK On, which was split off last year, was responsible for almost 8 per cent of the company's revenue in the first quarter. SK On, which counts Ford Motor Co and Hyundai Motor Co among its customers, raised its sales target to 7 trillion won in the year 2022, up about 1 trillion won from its previous target earlier this year. The break-even point timetable could be pushed back by a company that has ...
Updated: 04/29/2022
Us equity futures trade higher ahead of earnings from Dow, jobless claims
... company, Meta, jumped 14.6% in after-hours trading after its latest quarterly earnings, which surpassed Wall Street's estimates. Ford Motor Co. lost $3.1 billion in the first quarter, weighed down by its investment in an electric-vehicle startup, and its revenue ... ... the results for certain items above expectations. The investors were focused on earnings from various retailers and industrial companies. Boeing fell by 7.5% after it reported a loss that was worse than Wall Street expected. Chipotle rose 2.6% after reporting ...
Updated: 04/28/2022
Ford maintains profit forecast for 2021
Ford Motor Co has maintained its profit forecast for the year on Wednesday, citing strong pricing for its vehicles' SUV.Pokemon Inc said better than expected results in the first quarter, with adjusted earnings before interest and taxes of US $2.3 billion....
Updated: 04/27/2022
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