Out with a shakeup at an iconic american company, the ceo of ford is out. Mark fields is replaced by a former Office Furniture executive known for his ability to turn companies around. As weve been reporting, pressure was mounting at the automaker to reverse the floundering stock price and to better compete against General Motors and tesla in developing the next generation of electric and selfdriving cars. The news sent shares of ford accelerating, rising more than 2 in trading today. Phil lebeau has more on the change and future of ford. With ford shares hanging close to a fiveyear low, bill ford and the board of directors made a dramatic shift. Mark fields, ousted less than three years after becoming ceo. We need to be quicker in our decision making. We need to have clarity in our messaging and communication. And we also need a leader who has transformed a company before. The new ceo is jim hackett, 62 years old. While his time at ford as a director and most recently running the comp
Disney california adventures new guardians of the galaxy ride opening this morning, one reporters priceless reaction. And it all happened on live television. This was not a good idea. That reporter joining us this morning. Were debating whether thats a real scream. Im firmly in the camp that thats a real scream. And he seems unhappy. Im totally with you on this one. We agree. We do for once. Shocking. As we come on the air this morning, President Trump is over in sicily, southern italy, here he is posing for a Group Picture with other world leaders. This image less controversial than the one from thursday where the president seemed to brush past the leader of montenegro. In a few hours, President Trump will Board Air Force one and depart italy. Hell arrive back in washington this evening after a whirlwind foreign trip that took him to five countries in eight days. And the president will come home to new developments in an ongoing fbi investigation into possible collusion between russia
Ford, Kayla Tausche this morning at post nine. First it was utx, now boeing, and now donald trump has a new target, Lockheed Martin. Speaking with Chris Wallace on fox news on sunday. We dont have that sound, but he did talk to Chris Wallace, and, of course, the tweets followed up this morning, in which he talked about the cost of the f35, the cost overruns, the amount of money he hopes to save. Bill george joins us this morning, cnbc contributor, former exxon board member. Bill, good morning to you. Carl, good to be back on the best show on cable tv. Here we are again. Do you see any pattern emerging here regarding trump and his willingness to call out individual companies . Well, this is a president who knows how to use social media, and hes going to target it. Frankly, im happy to see him going after cost overruns in the department of defense. I spent the first three years of my career back in the late 60s doing this, and im not sure we made much progress, and i think these overruns
Thats the strongest of the expansion. Well get to all the numbers of the premarket relatively steady. Europe is mixed. Yields actually if you just heard ticked up on that wage data. Factory orders, rig count and fed speak today still on the way. Roadmap begins with 156,000 jobs added in december, below what the street was expecting. The last jobs number under president obama. First it was ford then it was gm. This time the president elect goes after toyota sending alarm bells across the nation of japan. One retailer reversing the trend, gap shares are surging after a better than expected december helped by old navy. Well get into that. Aside from the december payroll figures, the Unemployment Rate coming in at 4. 7, as expected. And we mentioned earlier average Hourly Earnings up 2. 9 from a year ago, thats the biggest increase since 2009. Participation relatively flat, jim, i know you looked at with the revisions over the past two months people are calling it a bit of a push. I think
Are trading with julie hyman. Julie i thought you were going to say david gura, a big unc booster. Direction here. Returning to the platelet we have been seeing with the sideways movement, there are some lagging groups, financials are down, Technology Shares as a group are down. I want to dive into tech a little bit more. Seen that group outperformed recently, with the nasdaq, the only one of the three major averages three at 10 record highs in the past week or so, although its little changed today. One of the factors in the group thats not doing well is nvidia. The stock was downgraded to underweight, analysts saying there are signs of saturation in the market for desktop graphics chips. Those shares one of the worst performers in the s p 500. Lets take a look at amazon and google today. A very different tale for these two. At aboutares trading 900 a share. Alphabet is going lower, bmo saying also that ad revenue is facing Competitive Pressure from amazon. Amazon named a top pick, and