Ford Reports Q3 Production of 1.4M Units and 3 Hot Stocks Sparking Chatter
H-P (NYSE:HPQ) is prepared to reveal its first new line of printers in seven years while Meg Whitman continues to try turning the company around by raising its middling share of the growing market for “multifunction” printers, including scanners and software able to manage electronic documents. Additinally, the new products are among the first fruits of Whitman’s decision to raise R&D spending again.
Ford (NYSE:F) automotive sector revenue saw a 0.9 percent drop year over year to $30.2 billion, as the operating margin saw an improvement of 150 bps to 6.3 percent as higher net pricing began. The quarter’s total company production was 1.4 million units, which is a rise of about 24 thousand units from the previous year, but is below its prior guidance as a result of parts supply issues. During Q4, total production was forecast to reach 1.5 million units, and records its highest profit margin ever in U.S. at 12 percent, as European operations saw a $468 million drop. Both Asia and Africa regions posted a profit of close to $45 million and it improved its cash position by $1.8 billion during the quarter versus the previous year.
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Delta Air Lines‘ (NYSE:DAL) refinery in Trainer, Pennsylvania faced no storm damage from Hurricane Sandy, the state reports. The refinery continues to be on target to reach full run rates next week following a large maintenance overhaul.
Home Depot (NYSE:HD) has intentions to reopen the stores it closed on the East Coast as a result of Hurricane Sandy as quickly as possible to meet the expected rush of customers that need materials. The company reports water, extension cords, and utility pumps sold well in prior to the storm’s advance and has set up a command post in Atlanta to oversee distribution of products to stores.
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