We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ford (F) Announces Investments and Plans to Replace CEO
Read MoreHide Full Article
Ford Motor Company (F - Free Report) announced its decision to invest $350 million to upgrade its Livonia, MI transmission plant for building fuel-efficient vehicles. This is part of a $2.25 billion investment in the state announced earlier by the company.
The investment will help Ford add or keep 800 jobs at the facility, some of which are expected to be filled this year. Majority of the jobs, however, will be filled over the next two years. Last year, the automaker revealed an investment worth $1.4 billion in the Livonia transmission plant. Recently, the company stated that employment at the plant have risen from about 1,550 last year to 1,800 presently.
However, last week, Ford announced that it will be cutting 1,400 salaried jobs in North America and Asia, which represent roughly 10% of its workforce. The company is offering financial incentives, including early retirement offers, to encourage salaried employees to retire voluntarily. This is part of the company’s initiative to cut costs by $3 billion.
Reportedly, Ford recently made changes in the senior management. The company also plans to replace CEO, Mark Fields, with current executive chief, Jim Hackett. This comes as a move to check the company’s rapidly declining share price. The company's shares have lost almost 40% since Fields took over as CEO in Jul 2014.
Price Performance
Ford’s shares have underperformed the Zacks categorized Auto Manufacturers-Domestic industry in the last three months. The company’s shares lost 13.5% during this period, while the industry declined 3%. Increasing recalls and concerns in certain end markets are adversely affecting share performance.
Lear has an expected long-term growth rate of 7.1%.
Fiat has an expected long-term growth rate of 22.4%.
Fox Factory has an expected long-term growth rate of 16.5%.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
Image: Bigstock
Ford (F) Announces Investments and Plans to Replace CEO
Ford Motor Company (F - Free Report) announced its decision to invest $350 million to upgrade its Livonia, MI transmission plant for building fuel-efficient vehicles. This is part of a $2.25 billion investment in the state announced earlier by the company.
The investment will help Ford add or keep 800 jobs at the facility, some of which are expected to be filled this year. Majority of the jobs, however, will be filled over the next two years. Last year, the automaker revealed an investment worth $1.4 billion in the Livonia transmission plant. Recently, the company stated that employment at the plant have risen from about 1,550 last year to 1,800 presently.
However, last week, Ford announced that it will be cutting 1,400 salaried jobs in North America and Asia, which represent roughly 10% of its workforce. The company is offering financial incentives, including early retirement offers, to encourage salaried employees to retire voluntarily. This is part of the company’s initiative to cut costs by $3 billion.
Reportedly, Ford recently made changes in the senior management. The company also plans to replace CEO, Mark Fields, with current executive chief, Jim Hackett. This comes as a move to check the company’s rapidly declining share price. The company's shares have lost almost 40% since Fields took over as CEO in Jul 2014.
Price Performance
Ford’s shares have underperformed the Zacks categorized Auto Manufacturers-Domestic industry in the last three months. The company’s shares lost 13.5% during this period, while the industry declined 3%. Increasing recalls and concerns in certain end markets are adversely affecting share performance.
Zacks Rank & Key Picks
Ford currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space include Lear Corporation (LEA - Free Report) , Fiat Chrysler Automobiles N.V. and Fox Factory Holding Corp. (FOXF - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lear has an expected long-term growth rate of 7.1%.
Fiat has an expected long-term growth rate of 22.4%.
Fox Factory has an expected long-term growth rate of 16.5%.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>