Ford Will Suspend Auto Output in Romania Again and 2 Other Hot Stocks to Watch
Ford Motor Co. (NYSE:F): Current price $17.50
Ford said Tuesday that it will suspend car production at its Romania factory for 13 days in November due to weak demand in Europe, marking a third consecutive month of furloughs at the same facility. Ford took over Automobile Craiova in 2008 and started production of its B-Max model there in 2012, now rolling out some 370 cars per day along with 1,000 engines for several models. Ford Romania spokeswoman Ana-Maria Timis said to Reuters, ”We will stop car production for 13 days and engine production for eight days in November.”
Yahoo Inc. (NASDAQ:YHOO): Current price $33.08
Yahoo shares were upgraded to Outperform at Bernstein Research on Tuesday morning, moving the stock up by 3 percent in heavy trading. In a note to clients, analyst Carlos Kirjner pointed to his increased valuation for the Chinese e-commerce giant Alibaba, in which Yahoo has an ownership interest. Kirjner contends that the stake is worth a minimum of $24 per share on Yahoo, with another $7 per share assigned to the firm’s stake in Yahoo Japan and $3 per share in cash.
BP (NYSE:BP): Current price $45.82
BP posted third-quarter earnings that dropped to $3.5 billion as daily output totaled 3.17 million barrels of oil equivalent per day. The company announced that it would hike its dividend to 9.5 cents per share and also committed to returning more capital to investors in the next several years. Beyond that, BP said it would sell off another $10 billion in assets through the end of 2015 to fund dividends, share repurchases, and other initiatives to return more value to shareholders.
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