Ford Motor Co. (NYSE:F): Current price $16.78
The iconic automaker is offering free software upgrades to owners of its 2013 model-year hybrid vehicles, which are intended to add to fuel economy. Group Vice President Raj Nair said Tuesday that Ford is sending notices about the voluntary upgrades to owners of the C-Max, Fusion and Lincoln MKZ hybrids, but did not provide an estimate on how much the program might cost his company. The upgrades were created to boost mileage in real-world driving conditions, like those simulated by Consumer Reports magazine. In those 2012 tests, the Fusion and C-Max hybrids showed 17 to 21 percent less than Ford’s pledge of 47 miles per gallon, with the Fusion achieving 39 mpg and the C-Max averagign 37 mpg in combined city and highway driving.
Realogy Holdings Corp. (NYSE:RLGY): Current price $50.32
Apollo Global Management will divest its remaining shares in its investment in Realogy Holdings, while demand for homes ignites the largest uptick in values since 2006. Apollo and its affiliated funds are selling approximately 25 million shares of Realogy common stock in a secondary public offering, according to a statement released by Realogy Tuesday. Apollo purchased Realogy for $6.8 billion in 2007, close to the real estate market’s peak. Realogy, which owns the Century 21 and Coldwell Banker brands, has risen by 83 percent since its October initial public offering.
Wells Fargo & Co. (NYSE:WFC): Current price $43.63
The fact that Wells Fargo shares are currently being traded at two times book value has been noticed by Argus, which is a bit dubious about the sustainability of the recent home price increases that have propelled the stock’s recent gains. Moreover, the firm notes that the bank’s revenue were basically flat year-over-year in the second quarter, leading it to reiterate its Sell.
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