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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Watching Ford shares as it cuts EV investment after poor Q3

A poor third quarter set of earnings from Ford Motor has led it to examine how it does a number of things.

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The drop in earnings was mostly due to the strike by UAW workers, which saw negotiations this week come to a possible conclusion, although the vote is still to be done. However, after the release of the Q3 numbers, Ford also said it is now delaying about $12 billion in planned investments on EVs, including construction of a second battery plant with joint venture partner SK On due to softening demand for higher priced premium electric vehicles.

(AI Video Transcript)

Ford Motors

Ford Motors has had a tough time lately, partly because of a strike by the Auto Workers Union. This strike lasted almost six weeks and cost the company a whopping $1.3 billion. As a result, Ford fell short of the expectations of Wall Street, earning only 39 cents per share instead of the expected 45 cents. The company's revenue currently stands at $41.18 billion, with $41.22 billion of that being due to the worker strike. Thankfully, the strike is now over, as a tentative deal has been reached.

Ford's stock price

Ford's troubles don't end there, though. They have also decided to delay $12 billion in planned investments on electric vehicles, including the construction of a new battery plant. This decision is due to a decrease in demand for the more expensive electric cars. As a result of all these challenges, Ford's stock price took a hit and reached its lowest point since July 1st. At the end of trading, the stock was worth $10.96 per share, and it continued to decline in extended trade later that night. It's clear that these financial struggles have had a significant impact on the company's stock performance.

The Auto Workers Union strike

In summary, Ford Motors has faced difficulties in the past quarter, with the Auto Workers Union strike and the decision to delay investments in electric vehicles. These challenges have caused the company to fall short of expectations and have led to a decline in stock price. However, with the strike now over and a tentative deal in place, Ford has an opportunity to regroup and make necessary changes to improve their financial situation.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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