Hackett was brought in, he was a board member, previously he had done a great job at steel case the Office Furniture company in michigan and when he came in and he said, look, we are going to transform ford, get it ready for the future for Autonomous Vehicles, for electric vehicles. That hasnt happened ford has been mired in really not being making the move that its needed to make since 2017 they are starting to change that a little bit some of that because of the moves that jim farley has made as coo, he becomes the ceo effective october 1st and the marching orders are pretty clear. Transform this company, get ready for a future with electric vehicles, Autonomous Vehicles at some point, not immediately, but at some point, but, guys, this is the most interesting stat that i can find. If you go back over the last, what, 20 years, 19 years, only one ceo at ford, alan malaly posted a positive gain in ford shares there you see hacketts performance since may of 2017, down 38 , similar to fi
Economies trying to rio, maybe not reopen, maybe not straightaway, but starting with france in phase two and starting phase two on may 11. There is hope we have bottomed out when it comes to the economic crisis. I am seeing euro movement. Here is viviana hurtado. Viviana the white house is backing away from a projection that shows the coronavirus out rate getting much worse in the u. S. And says by june there could be 200,000 new cases and 2500 deaths per day. The white house says that is a cdc document that has not and presented to the president. Neither allies nor opponents are happy with Boris Johnsons coronavirus plans. Lawmakers from his party want him to ease the nationwide lockdowns. Propernions demand protection for employees. Three months to fix it 3 trillion wanted tate of easing Program Quantitative easing program, this from the German Constitutional Court to the ecb. Claim the bank overstepped its bounds. Oil on its longest winning streak and nine months. For the fifth day
The show. Oil finding some support from markets as we still get earnings coming out. Fiat chrysler withdrawing its full year 20 guidance. They plan to restart production as conditions allow. About 100djusted ebit million euros. Nonetheless, continuing to see withdrawn guidance. Really hard to make a decision as a Portfolio Manager when you dont know what the outlook is going to be. It is time now for todays market moving news from our brussels and new york teams. We want to begin in europe, where germanys top judges gave the ecb a threemonth ultimatum to fix qe. The court ruled that some aspects of its Asset Purchase Program arent backed by eu treaties. Going to brussels is maria tadeo. What does it actually mean, and have we seen any response from the eu on this . Maria it is a bombshell, really. The judges are basically saying overall, there is no monetary financing, which would be illegal, but some aspects of qe are unjustified, and not backed up by european treaties, which means th
At new York Community bank that we will talk about. The twoyear yield back down to 4. 53. You have to remember, we started above 4. 70. Quite the move we have seen. Eight basis point move lower on the day. Midday movers on the equity side. Some things are flying. Shares of dell soaring after betterthanexpected sales and profit. Fuel needed to handle ardell intel Artificial Intelligence work. Dell up more than 20 . Shares of sound hound down after earnings missed expectations. They sorted since nvidia raised its stake in the company last year. New york minute heat continues its 2024 declines. It raised concerns about loan oversight. Commercial to commercial real estate, 37 billion dollars in multifamily loans. The Company Announced a ceo change and Material Weaknesses in its accounting. Now i want to look at not just the equity market, but the bonds for new York Community bank. It was trading at par. You saw a significant drop off after reporting some concerns tied to commercial real es
Thats in the next 50 minutes. Julie hyman is with us. We are halfway into the trading day. Julie its been a steady day. All averages are higher, not by much. The dow has been leading gains today. Any gains of any size would mean a record close for all three averages. To 2000, which has been taking pace. Some of the reasons the dow is up today is one of its components is doing well. We are talking about walmart are in its easy to forget there are competitors to walmart amazon that are fighting back rid they will acquire parcel, a new york based delivery service. Walmart tries to compete more and more with amazon in the Online Business and the delivery business. The details are not disclosed. Walmart shares are up on this. Its interesting the overall market has been rallying despite their weakness. We are taking look at Telecom Shares as well. We have level three centurylink on the rise as they win antitrust approval for their deal with the telecom assets. Sprint and tmobile are up as we