Ford, Bed Bath & Beyond, Tesla, Sears – 5 Things You Must Know
Here are five things you need to know for Thursday, Jan. 10:
1. – The warehouse court as attention becomes revenue
U.S. Equity futures fell on Thursday, January 10, and global equities withdrew as investors saw progress in trade negotiations in the US and China, shifting focus to corporate earnings season and the prospect of weakening performance guidance for the coming year.
China's Department of Commerce described the just three-day talks with US officials in Beijing as "deep and thorough exchanges on trade and structural issues of common concern", but as the Office of the United States Trade Representative, refused to offer a timetable on a second round of meeting-to-face meetings between the bosses of the world's two largest economies.
This disappointment was somewhat offset by tough signals from the Federal Reserve on Wednesday, when minutes from the central bank's December meeting cemented the Fed's performance would be patient with interest rate hikes in 201[ads1]9. Meanwhile, the fourth quarterly season is expected to grow S & P 500 earnings by around 14.5%, Refinitiv's I / B / E / S data provision for I / B / E / S data before declining to only 3.9% in Q1 2019, a figure that would be significantly below 26.8% growth rate recorded over the same period last year.
Contracts related to the Dow Jones Industrial Average on Thursday fell 110 points, futures for S & P 500 tumbled 14.75 points, and the Nasdaq futures fell 44 points.
Stocks rose for a fourth straight day on Wednesday after the progress was reported in the US and China trade talks, and the Fed's bad comments.
The United States economic calendar on Thursday includes weekly jobless claims at 8:30 am ET. Wholesale trade for November will not be released due to the government's closure.
Federal Reserve Mayor Jerome Powell is scheduled to attend a discussion at the Economic Club of Washington in Washington, DC at 12:45 pm
2. – Ford to exit some of Europe's largest markets, cut jobs
Ford Motor Co. (F) said Thursday that it will exit some of Europe's largest markets and cut thousands of jobs like car sales around the world, the downturn and uncertainty surrounding Britain's Brexit plans stiffen investment.
Ford said it would revise its operations in Russia, combine its UK headquarters just outside London and close a transfer facility in France as part of a regional overhaul aimed at making profits from its European business. Ford also cuts to the 53,000 workforce, but hopes "as far as possible" would come through voluntary action.
"We take decisive steps to change the Ford business in Europe," said Steven Armstrong, President and CEO, President, Europe, Middle East and Africa. "We want to invest in vehicles, services, segments and markets that best support a long-term, sustainable, profitable business, create value for all our stakeholders, and deliver emotional vehicles to our customers."
Ford shares rose 0.9% in premarket trading Thursday to $ 8.80.
3. Bed Bath & Beyond Inc. (BBBY) jumped 16.2% in the premarket market on Thursday after the company said revenue in the 2019 accounts would be about the same as in 2018, while Wall Street was expecting much more bearish views.
Bed Bath & Beyond said it expects fiscal 2018 earnings of about $ 2 per share. Analysts examined by FactSet estimated profits of $ 1.99 a share in fiscal 2018 and $ 1.56 in fiscal 2019.
The company reported revenue in the third quarter of 18 cents a share of revenue of $ 3.03 billion versus forecasts That required earnings of 17 cents on revenues of $ 3.05 billion.
Retail furniture sales also reported that sales of comparable stores fell 1.8% year-on-year, steeper than a 0.3% decline that analysts expected.
The company said it would retain sales in comparable stores, however, dropping to around 1% for the entire fiscal year 2018, and only a "low-digit" decline in 2019. It should allow a flat annual earnings of around $ 2 per share. 19659004] "Next year, we believe that we will be able to make more use of many of the investments we have made both in technology and in people in order to increase profitability," says CEO Steven Temares told investors at a conference call late Wednesday. a cost-saving exercise for us … this is a natural development for us from all these investments that we have made. "
" We still accumulate budgets, but we believe that having an earnings per share next year equals it this year is achievable, "added Temares.
4. – Tesla to stop selling 75kWh versions of model S and model X
Elon Musk said that Tesla Inc. (TSLA) will stop taking orders for the 75kWH versions of model S-sedan and model X SUV – the lowest price versions – after Sunday, January 13.
From Monday, Tesla will no longer take orders for the 75 kWh version of the model S & X. If you want that version, order your Sunday night at https: //t.co/46T XqRJ3C1
– Elon Musk (@elonmusk) January 9, 2019
If these models disappeared without replacement correspondingly, the starting prices would jump by $ 15,000 or more to $ 84,750 (from $ 66,750) for model S and $ 87,950 (from $ 72,950) for model X, according to Engadget. Therefore, a consumer would have to buy a model 3 if he wanted a Tesla car under $ 80,000.
5. – Eddie Lampert submits revised $ 5 billion bid to save Sears Report
Chairman Eddie Lampert sent Wednesday an updated about $ 5 billion takeover bid for Sears Holdings Corp. (SHLDQ). People who are familiar with the matter told Reuters.
In a convention, Lampert agreed to accept tax and supplier bills Sears has incurred since filing for bankruptcy protection in October, the sources of Reuters said. The revised offer from Lampert was submitted via an associated hedge fund, ESL Investments Inc., on Wednesday together with a payment of $ 120 million.
The last previous bid, which Sears rejected, was valued at $ 4.4 billion.
