Wednesday’s Headlines: Ford’s Revolutionary Little Truck

Wednesday’s Headlines: Ford’s Revolutionary Little Truck

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Stitch Fix (SFIX) +14.1%

GoPro (GPRO) +12.7%

Baozun (BZUN) +5.6%

IMAX (IMAX) +5.4%

PagerDuty (PD) +5.3%

Moving Down ⬇️

Coupa Software (COUP) -8.2%

TrueCar (TRUE) -2.6%

Vail Resorts (MTN) -2.4%

Ford Motor Company (F) -1.6%

Tripadvisor (TRIP) -1.4%

1. Ford (F) is proving it can dominate in the pickup truck market with the launch of its new Maverick model. The Maverick is revolutionary, not just in its small size, but also because its least-expensive version will be a front-wheel-drive hybrid powered by an electric motor and a gasoline engine, which is very unusual for a truck. With the new model, the first of its kind in the U.S, Ford beats its competitors Toyota, Nissan, and Hyundai, in both size and, starting at $20,000, in price too. Ford is tapping into the market after truck sales have skyrocketed recently and the automaker expects the unique model to attract buyers that never thought about buying a truck before. See more here

2. PagerDuty (PD) stock jumped 5.3% after the cloud computing company announced a new partnership with JFrog, a liquid software firm. The new integrations from the deal will let PagerDuty clients observe their entire software delivery lifecycle and identify security issues. According to PagerDuty, the partnership will benefit both firms by not only helping their customers but by also driving sales. Head of Partnerships at PagerDuty, Timm Hoyt, explained that IT security had previously been a bottleneck in software delivery but now "this new integration will not only help remove this bottleneck but help organizations thrive when resolving incidents." Read the official press release here

3. Bad news for burrito lovers, Chipotle Mexican Grill (CMG) is hiking its menu prices. The restaurant chain is increasing its prices by about 4% to cover bumping its hourly wage to $15 for its workers. In a bid to keep its employees and attract new ones, businesses across the fast-food industry, including McDonald's (MCD) and Starbucks (SBUX), vowed to increase wages of employees of company-owned locations. As restrictions ease across the U.S., demand for restaurant meals has exploded but the returning hospitality workforce has been slower to come back. Further costs could be coming for Chipotle as the wage bump coincides with rising ingredient costs as suppliers struggle with the return of demand. More on the story here

One earning from last night: 

Calavo Growers (CVGW)
The avocado-industry leader’s shares fell in after-market trading yesterday after reporting revenue of $276.8 million, down 1.5% year-over-year (YoY), which missed estimates. Calavo Growers is seeing signs of recovery from the pandemic, reporting 9% growth in avocado sales while its Renaissance Food Group and Foods segments sales jumped 3% and 16% YoY, respectively. Read the full press release here

There are three companies on the MyWallSt shortlist that will report earnings today:

Brown-Forman (BF.B)
Casey's (CASY)
RH (RH)

Get this week’s full earnings calendar here.

NicoleNicole

Sign up for free to continue reading.