Ford's Net Income & Profit Falls; SodaStream Up 16%
Stocks end the day up on Friday, with the S&P 500 posting its biggest weekly gain of 2014. Ford Motor (F) announced their profit and net income today, and it was drastically lower than the same quarter a year ago. Ford said that it had a pre-tax profit of $1.2 billion this quarter, less than half of the $2.6 billion a year ago. Ford's net income for this past quarter was $835 million, down from $1.27 billion a year ago. SodaStream (SODA) was up 16% today after the home soda brewing company announced that they would test Pepsi-branded (PEP) products.While the test is expected to be conducted on a small scale, the company is exploring multiple relations with other major beverage brands.
Word on the Street
- New home sales rose 0.2% in September.
- Tesco (TESO) downgraded to 'BBB-' from 'BBB'.
- SodaStream (SODA) to test Pepsi (PEP) branded products.
- Sears (SHLD) to close 77 stores, cut 5,300 jobs.
- Facebook (FB) shares hit all-time high of $80 a share.
- Lockheed Martin (LMT) to deliver 43 more F-35s in $4B deal with Pentagon.
Published on Oct 24, 2014By InvestorGuide Staff