Ford Motor Company Exceeds Expectations for Fourth Quarter and Provides Positive 2024 Outlook
Ford Motor Company has exceeded Wall Street’s expectations for the fourth quarter, reporting better-than-expected financial results and providing a positive outlook for 2024. The company’s forecast includes adjusted earnings before interest and taxes (EBIT) of between $10 billion and $12 billion, adjusted free cash flow of $6 billion to $7 billion, and capital spending of $8 billion to $9.5 billion, surpassing analyst expectations. Ford also announced a special dividend of 18 cents per share and a first-quarter regular dividend of 15 cents per share, leading to a surge in shares during afterhours trading.
Landscape Capital Management L.L.C. Makes Significant Changes to Holdings in Snap Inc.
Landscape Capital Management L.L.C. significantly reduced its holdings in Snap Inc. by 92.7% in the third quarter, selling 794,780 shares and leaving them with 62,568 shares. Meiji Yasuda Asset Management Co Ltd. also increased its shares in Snap by 7.4% during the 2nd quarter, reflecting dynamic activity within the stock market.
Wendy’s Offers Free Dave’s Single Cheeseburger with Any Purchase
Wendy’s is offering a free Dave’s Single cheeseburger with any purchase at participating restaurants from February 5 to February 12. Customers can redeem the offer through the Wendy’s app with no specific purchase minimum. This promotion coincides with the Super Bowl and includes a $0 delivery fee for app orders on game day. Wendy’s is also introducing breakfast burritos and bringing back the classic vanilla Frosty, delighting patrons with exciting additions to their menu lineup.
DocuSign to Lay Off 6% of Workforce in Restructuring Plan
DocuSign announces a restructuring plan, including laying off 6% of its workforce, in an effort to enhance financial and operational efficiency. The majority of impacted employees will come from sales and marketing departments. The announcement led to a more than 6% drop in DocuSign’s shares. The company aims to meet or exceed its fourth-quarter and fiscal-2024 guidance and will share further details about the restructuring plan when fourth-quarter results are released.
Wedbush Raises Palantir’s Price Target to $30, Citing Remarkable Commercial Success and Potential for S&P 500 Inclusion
Wedbush raises Palantir’s price target to $30, citing remarkable commercial success with AIP and potential for $1B free cash flow in 2024. The surge in commercial business indicates a promising trajectory toward profitability and inclusion in the S&P 500, positioning Palantir as a compelling investment opportunity in the data analytics and software market.
ABB and MAN Energy Solutions Collaborate on Energy-Efficient Propulsion Concept for LNG Carriers
ABB and MAN Energy Solutions have developed the innovative Dual Fuel, Electric+ (DFE+) concept for LNG carriers, achieving a 7.5% increase in energy efficiency and emissions reduction. This collaboration addresses the challenges of stricter emissions regulations and fuel costs, offering a competitive and energy-efficient alternative for LNG carrier propulsion designs.
WeWork’s founder Adam Neumann seeks to buy now-bankrupt business
Adam Neumann, the co-working company’s onetime chief, has been trying to buy the now-bankrupt WeWork business with the help of hedge fund mogul Dan Loeb. His new real estate company, Flow Global, has accused WeWork’s current leaders of stonewalling their takeover approach, despite seeking to provide bankruptcy financing to keep the company afloat.
Bangor Area Homeless Shelter’s Intake and Diversion Program Making Significant Impact
The Bangor Area Homeless Shelter’s Intake and Diversion program is making a significant impact in preventing homelessness by offering various housing options to individuals in need. Maria Horodeski, the program’s coordinator and a former homeless individual herself, provides positive reinforcement and empowerment to those going through difficult times, offering hope and support to make positive changes in their lives.
Genetically Modified Purple Tomato Now Available to Home Gardeners in the U.S.
The Purple Tomato, a genetically modified fruit with high levels of anthocyanin, is now available to home gardeners in the U.S. Developed by Norfolk Plant Sciences, this unique tomato is the result of 20 years of research to incorporate color genes from a snapdragon flower. By directly marketing to home gardeners, the company aims to change perceptions of GMO foods, emphasizing the health benefits of biotechnology. The tomato, developed by biochemist Cathie Martin, offers potential health advantages to consumers.
Stocks Show Significant Movement in Midday Session
Stocks in the midday session showed significant movement today, with Palantir, Spotify, UPS, and DocuSign making headlines. Palantir’s stock surged after a new partnership announcement, while Spotify faced increased volatility. UPS and DocuSign also experienced fluctuations, reflecting the dynamic movements in the stock market.