DAILY UPDATE: Ford, Peloton and Starbucks as Stocks Climb

MEDICAL EXECUTIVE-POST TODAY’S NEWSLETTER BRIEFING

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Ford paused production of its F-150 Lightning electric truck from mid-November to early January as demand for the once-coveted EV dwindles.

Peloton named Peter Stern, the co-founder of Apple Fitness+, as its next CEO.

Starbucks is bringing back Sharpied names on cups for the first time in four years as new CEO Brian Niccol tries to shake up the struggling coffee chain.

CITE: https://www.r2library.com/Resource

STOCKS UP

  • Boeing offered striking machinists yet another new contract offer, including a 38% pay raise over the next four years. The union will vote on the contract on Monday. Shares climbed 3.54%.
  • Avis Budget motored 10.92% higher despite missing forecasts on both earnings and revenue. Shareholders celebrated the rental car company’s strong growth expectations from management and took advantage of a cheap valuation.
  • Globalstar rocketed 32.38% after the satellite communications company announced an expanded deal with Apple.
  • Charter Communications soared 11.87% after losing fewer subscribers than expected, which is like a back-handed compliment in the investing world.

STOCKS DOWN

  • Trump Media & Technology Group remains on the roller coaster, falling another 13.53% today as early exit polls show Vice President Kamala Harris with a lead in several key states.
  • Wayfair may have met earnings expectations last quarter, but the online home goods retailer also lost customers and fulfilled fewer orders. Shares fell 6.26%.
  • Super Micro Computer continued to sell off after the resignation of its financial auditor, an almost-sure sign of fraud. Shares sank another 10.51%.

CITE: https://tinyurl.com/2h47urt5

  • The S&P 500® index (SPX) rose 23.35 (0.41%) to 5,728.80 to end the week down 1.37%; the Dow Jones Industrial Average® ($DJI) added 288.73 points (0.69%) to 42,052.19 to end the week down 0.15%; and the NASDAQ Composite®($COMP) gained 144.76 points (0.80%) to 18,239.92 to end the week down 1.50%.
  • The 10-year Treasury note yield (TNX) climbed eight points to 4.36%, the highest since early July.
  • The CBOE Volatility Index® (VIX)remained elevated at 21.88.

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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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