Ford Output Said to Be Bottleneck to US Auto Sales and 2 Other Hot Stocks to Watch
Ford Motor Co. (NYSE:F): Current price $17.06
A double-digit jump in July domestic auto sales could be in the offing, say analysts, except for a dubious problem: Ford seems to be unable to build vehicles fast enough to keep up. Experts forecast that auto sales in the United States will continue a four-year trend of sales increases. Ford shares are up by 31 percent in 2013, and closed Thursday at $16.96. One year ago, shares traded at about $9, as stalling European sales scared off investors. July domestic light-vehicle sales are set to be reported next Thursday, and analyst Rod Lache at Deutsche Bank said that the rate of sales will likely slow from June’s seasonally adjusted annual sales rate of 15.9 million.
Microsoft Corp. (NASDAQ:MSFT): Current price $31.37
Sources who talked with Tom Warren at The Verge said Chief Executive Steve Ballmer told employees at a town hall meeting, “We’re not selling as many Windows devices as we want to.” The CEO told employees that Microsoft is focused on the back-to-school period, hoping to use that time to sell more Windows devices, such as phones, tablets, and PCs. Further, Ballmer conceded that Microsoft ordered too many Surface RTs, which is the reason it had to slash the price by 30 percent, which led to the $900 million charge.
CEMEX, S.A.B. de C.V. (NYSE:CX): Current price $11.70
CEMEX said Friday that its consolidated net sales came to $4 billion during the second quarter, marking a 4 percent increase year-over-year from 2012. Operating EBITDA also rose by 4 percent during the quarter to $730 million, compared to the same period in 2012. Adjusting for the higher number of business days in operations during the quarter, consolidated net sales improved by 2 percent, and operating EBITDA increased by the same percentage versus the same period in 2012.