Friday’s Headlines: Ford Pedals To Three-Year High
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Ford Motor Company (F) +6.2%
Spotify (SPOT) +5.1%
Nautilus (NLS) +4.3%
Apple (AAPL) +3.7%
iRobot (IRBT) +2.5%
Moving Down ⬇️
Align Technology (ALGN) -3.6%
StoneCo (STNE) -3.5%
Square (SQ) -3.1%
Markel Corp (MKL) -3.0%
Axos Financial (AX) -2.9%
1. Ford Motor Company (F) hit a 52-week high for its third-consecutive day yesterday, having risen 17% this week on earnings anticipation and future product excitement. Company bulls are optimistic ahead of the company’s Bronco SUV launch, which is expected to be a strong sales driver going forward. As well as this, its February 4 earnings call will be closely followed, especially for more updates on the company’s planned $11.5 billion investment in electric vehicle production over the next two years. The company will need to really excite investors in order to offset the $4.1 billion pretax charges it will be paying due to withdrawing operation from the Brazilian market. Read the full story here.
2. There’s drama in the Big Tech world after Alphabet’s Google (GOOG) threatened to block its services in Australia if the government forces search engines to pay media companies for their content. The dispute began when Australia investigated Google and Facebook last month and found the two companies held too much market power in the media industry which could potentially damage democracy. Google’s threat to limit its services to 19 million Australians came just after the company reached a content-payment deal with French official news publishers as part of a three-year, $1.3-billion push to support publishers. See more here.
3. Spotify (SPOT) shares are up over 5% this morning after filmmaker Ava DuVernay was announced as the latest celebrity to sign an exclusive podcast deal with the company. DuVernay has directed works such as 'Selma' and 'A Wrinkle in Time,' as well as Netflix’s '13th' and 'When They See Us'. Spotify said that through the multi-year partnership, the star will be creating exclusive programming whilst working with Spotify’s recently acquired podcast network, Gimlet. DuVernay is just the latest in a string of high-profile talent deals Spotify has landed, having locked down exclusive deals with the Obamas, Joe Rogan, and more last year. Check out the full story here.
One earning from last night
Silicon Valley Bank (SIVB)
High-tech commercial bank Silicon Valley reported total revenue of $388 million and adjusted earnings per share (EPS) of $7.40 during its fourth-quarter. Despite low rates, the company accredited its strong balance sheet to robust loan growth and increased business activity. Read the full press release here.
Get this week’s full earnings calendar here.