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However, the company also said it sees single-digit revenue growth for fiscal 2025. UBS reiterated a neutral rating alongside its $310 per share price target on Salesforce, or more than 3% upside ahead. Product revenue growth of 33% year over year in the fourth-quarter was also below Wall Street estimates. Murphy noted there's a disconnect between what Barrick has accomplished in the past five years and its stock price. "We see asset disposals and cost improvements as likely to reverse share price weakness as the market recognizes the strength of the asset portfolio."

Persons: Morgan Stanley, Snowflake, Jefferies, TD Cowen downgrades Macy's TD Cowen, Oliver Chen, Macy's, — Brian Evans, Brad Sills, Brian Evans, AutoNation Morgan Stanley, AutoNation, Morgan Stanley's, Mike Manley, Adam Jonas, Salesforce, Amy Weaver, Goldman Sachs, Kash Rangan, Bank of America's Brad Sills, Morgan Stanley downgrades Snowflake, Snowflake's, Frank Slootman, Keith Weiss, Matthew Murphy, Murphy, Fred Imbert Organizations: CNBC, Barrick, Mining, Bank of America, of America, TAM, Bank of America's, UBS, StreetAccount, Jefferies, Barrick Gold, Newmont, Newcrest Locations: Africa, East

☆ Striking auto workers are highlighting their CEOs' multi-million dollar pay. Here's how much the top bosses at Ford, GM and Stellantis make
▼ + stars: | 2023-09-22 | by ( Graham Rapier | Nora Naughton | Associated Press | ) www.businessinsider.com time to read: +10 min

"The reason we ask for 40% pay increases is because in the last four years alone, the CEO pay went up 40%. U.S. companies, in contrast, use grant date value of stock packages awarded to executives during the reporting year. AdvertisementAdvertisementThat's because in some years, talking about a CEO's "realized pay" can obscure exorbitant pay packages approved by company boards. AdvertisementAdvertisementThe CEOs of GM and Ford also saw their compensation packages peak in 2021, before declining slightly in 2022. However you slice the numbers, the gap between CEO pay and rank-and-file workers at all three companies is gigantic.

Persons: Mary Barra's, Shawn Fain, Fain, Mary Barra, James Farley, Jim Hackett, Stellantis, Carlos Tavares, Mike Manley's, Equilar, Tavares, That's, Manley, —, Harry Katz, Tesla, Elon Organizations: UAW, Service, United Auto Workers, Ford, GM, Netflix, Writers Guild of America, WGA, Comcast, Big Three, —, Motors, Chrysler, CBS, Big, General, AP, Equilar, Fiat Chrysler Automobiles, French PSA Group, Fiat Chrysler, Institute, Detroit, Cornell University, U.S Locations: Wall, Silicon, Stellantis, American, European

In its annual renumeration report, Stellantis reported CEO Carlos Tavares' 2022 pay was 23.46 million euros. That's a nearly 77% increase over then Fiat Chrysler CEO Mike Manley's 2019 pay of 13.28 million euros. However you slice the numbers, the gap between CEO pay and rank-and-file workers at all three companies is gigantic. It's far above the typical pay gap at S&P 500 companies, which was 186-1 according to AP's annual CEO pay survey, which uses data analyzed by Equilar. CEO Elon Musk's 2022 compensation was reported as zero in the company's proxy statement, rendering its official pay ratio meaningless.

Persons: — It’s, Shawn Fain, Fain, ” Fain, ”, Mary Barra, James Farley, William Clay Ford, Stellantis, Carlos Tavares, Mike Manley's, “, Equilar, Tavares, That's, Manley, —, Tavares ’, Harry Katz, Tesla, Elon, Tom Krishner Organizations: United Auto Workers, UAW, Netflix, Writers Guild of America, WGA, Comcast, Big Three, —, Motors, Ford, Chrysler, Associated Press, Big, General, Barra, AP, Equilar, Fiat Chrysler Automobiles, French PSA Group, GM, Fiat Chrysler, Institute, Detroit, Cornell University, U.S Locations: Stellantis, American, European, Detroit

Demand for used vehicles, which accelerated during the pandemic, has taken a hit after automakers started to ramp up production as the global supply chain crisis gradually eases. Consumers wanting to buy vehicles with advanced safety technology and a lower turnover for newer models in the pre-owned market have also dented demand for used vehicles. AutoNation said its second-quarter unit sales of new retail vehicles rose 8%, while unit sales of used vehicles fell 11%. Manley attributed the decline in AutoNation's used vehicle sales during the quarter to decisions to keep inventories lean amid choppy pricing. "As we built our used vehicle inventory in the quarter...we exited the quarter in line with industry: flat year over year," he said.

Persons: AutoNation, Mike Manley, Manley, Nathan Gomes, Raechel, Shilpi Majumdar, Mike Harrison Organizations: Reuters, Thomson Locations: Bengaluru

☆ JPMorgan downgrades AutoNation, says car dealer stock is overvalued
▼ + stars: | 2023-02-21 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time to sell AutoNation as consumer demand for vehicles starts to pull back, according to JPMorgan. Analyst Rajat Gupta downgraded AutoNation to underweight from neutral, saying the car dealer stock is starting to look overvalued after its solid performance during the pandemic. AutoNation shares outperformed at the onset of the Covid pandemic. The car dealer stock jumped more than 40% in 2020, and surged more than 60% in 2021. On Friday, following strong fourth-quarter results, AutoNation shares surged to an all-time high and posted its best day in about three years .

☆ Solid fourth-quarter earnings push AutoNation stock to an all-time high
▼ + stars: | 2023-02-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

A solid fourth-quarter earnings report from AutoNation on Friday propelled the car dealer's stock to a new all-time high and its best day in nearly three years. The Florida-based dealership group reported an adjusted earnings per share of $6.37 and revenue of $6.7 billion for the previous quarter. AutoNation closed Friday at $157.30 a share, marking a new high for the auto dealer's stock following an 11.4 % increase to end the week. The increase follows AutoNation last year reducing shares outstanding by 25% as it repurchased 15.6 million shares, including 4.6 million during the fourth quarter. AutoNation CEO Mike Manley attributed the solid quarter and record year of earnings to operational execution as well as new all-time high earnings in after sales and customer financing.

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Amazon, Alphabet, Chipotle, Microsoft & more
▼ + stars: | 2023-01-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Morgan Stanley downgrades Chipotle to equal weight from overweight Morgan Stanley said it's concerned about "traffic headwinds." Morgan Stanley upgrades Domino's to overweight from equal weight Morgan Stanley said Domino's is best positioned to handle a downturn. Morgan Stanley upgrades Church & Dwight to overweight from equal weight Morgan Stanley said it sees "fundamental inflection ahead." Morgan Stanley downgrades AutoNation to underweight from equal weight Morgan Stanley said it sees too many headwinds for shares of AutoNation right now. Morgan Stanley upgrades Kroger to equal weight from underweight Morgan Stanley said it sees more people eating at home.

☆ There are finally more cars to buy — but there's a new reason Americans can't afford them
▼ + stars: | 2022-11-03 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

High interest rates are hitting car buyers just as vehicles are becoming more available. The Federal Reserve raised interest rates again on Wednesday by .75% to TKSign up for our newsletter for the latest tech news and scoops — delivered daily to your inbox. But climbing interest rates are throwing a wrench in the cogs. The Federal Reserve has hiked interest rates several times this year — most recently on Wednesday — with the intention of cooling spending and taming record-high inflation. "New cars may finally become more available just when most Americans can no longer afford them," Cox chief economist Jonathan Smoke said in an October note.

☆ CEOs send mixed signals about consumer spending as split emerges between income levels
▼ + stars: | 2022-07-26 | by ( Robert Hum | ) www.cnbc.com time to read: +5 min

If the signals you're getting about the U.S. consumer seem mixed, there could be a very good reason for that: They are. In recent earnings conference calls, CEOs have been presenting more evidence that consumer spending patterns are bifurcating. Despite rampant inflation, the high-end consumer is remaining strong, but the low-end consumer is starting to buckle under the pressure. That comment came after the company, which owns brands such as Louis Vuitton and Tiffany, reported earnings Tuesday. On Tuesday, the company reported better-than-expected profit growth as price increases on its menu helped offset rising costs.

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