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☆ Another huge GM buyback makes it plain to see that Ford must follow suit to boost its stock
▼ + stars: | 2024-06-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

General Motors approved yet another stock buyback — adding to our frustration that portfolio name Ford has yet to embark on a repurchase program of its own. GM on Tuesday announced a new $6 billion buyback — weeks before its November $10 billion repurchase authorization is set to be completed. "I'm very upset with Ford," Jim Cramer said during the Morning Meeting for Club members. While encouraged by Ford's successful pivot, we believe a sizeable stock buyback would be a catalyst for Ford shares as it has been for GM. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Ford, Jim Cramer, Mary Barra, GM's buyback, John Lawler, repurchases, . Ford, Ford's, Jim Cramer's, Jim, Danielle DeVries Organizations: Motors, Ford, GM, Club, CNBC, Deutsche Bank, New York Locations: .

☆ Jim Cramer says don't bet against Celsius or Shopify. He looks at 3 other stocks, too
▼ + stars: | 2024-06-11 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Jim Cramer has been calling for Ford, a CNBC Investing Club portfolio name, to do a buyback, too. But now that's reflected in the stock," Cramer said. Cramer said this research note was so negative that "I don't care that i[Cleveland-Cliffs] is down 28% for the year. "Gratuitous neutral," Cramer said.

Persons: Jim Cramer's, Jim Cramer, Ford, Cramer, Morgan Stanley, it's Organizations: CNBC, Club, General Motors, Ford, Shopify, JPMorgan, Cliffs, GE Vernova, Citi, Costco Locations: Cleveland

☆ Elon Musk's pay package should pass by large margin, says former Ford CEO Mark Fields
▼ + stars: | 2024-06-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElon Musk's pay package should pass by large margin, says former Ford CEO Mark FieldsHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Mark Fields, Brian Sullivan, “ Organizations: Elon, CNBC

☆ Here are Tuesday's biggest analyst calls: Apple, Nvidia, Uber, Shopify, Tesla, Ford, Alphabet, Pepsi, Broadcom & more
▼ + stars: | 2024-06-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating following the company's Worldwide Developers Conference. Baird reiterates Tesla as outperform Baird said it's sticking with its outperform rating heading into Thursday's shareholder meeting. "We are initiating coverage of Bitdeer Technologies Group (BTDR) with an Overweight rating and $13 PT." We argue the former, initiating coverage with an Outperform rating and $50 TP." Barclays reiterates PepsiCo as overweight Barclays said it's sticking with its overweight rating on the stock despite a bumpy macro in the salty snacks category.

Persons: Morgan Stanley, Apple, WWDC, Oppenheimer, Ford, Baird, Tesla, Evercore, Cantor Fitzgerald, Cantor, Piper Sandler, Piper, it's, it's bullish, Bernstein, BTIG, D.A, Davidson, Citi, Uber Organizations: Nets, Apple, JPMorgan downgrades, JPMorgan, Nvidia, Bitdeer, Bitdeer Technologies, Citi, Broadcom, VMware, Barclays, DA, PepsiCo Locations: JPMorgan downgrades Cleveland, Cleveland, Delaware, China

☆ UAW President Shawn Fain under investigation by federal monitor
▼ + stars: | 2024-06-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —Shawn Fain, who led the United Auto Workers union in its strike against all three unionized American automakers last fall, is under investigation by a federal monitor overseeing the union. It dredges up past union corruption issues that sent previous union officials to prison, an issue that helped Fain win a narrow upset victory to lead the union last year. Fain was a guest of President Joe Biden at the State of the Union speech, where Biden recognized and praised him. Biden also joined Fain on the picket line during last year’s auto strike, the first sitting president to visit a picket line. Fain, a former critic of both former President Donald Trump and the Biden administration, has become a vocal supporter of Biden, who has been endorsed by the UAW.

Persons: Shawn Fain, Fain, Margaret Mock, “, Neil Barofsky, Rich Boyer, Boyer, Barofsky, Mock, ” Barofsky, ”, We’re, Stellantis, Joe Biden, Biden, Donald Trump Organizations: New, New York CNN, United Auto Workers, UAW, Volkswagen, Stellantis, TARP, General Motors, Ford, State Locations: New York, Tennessee, Mercedes, Alabama

Oppenheimer raised its price target on Nvidia after the company completed a 10-for-1 stock split. 7:07 a.m.: Baird increases First Solar price target Baird thinks First Solar has more room for growth after soaring 46% in the past month. His buy rating and $238 per share price target implies more than 23% upside ahead. — Brian Evans 5:41 a.m.: Oppenheimer raises Nvidia price target after stock split Nvidia's momentum will continue, according to Oppenheimer. — Brian Evans 5:41 a.m.: JPMorgan says buy Shopify Shopify is the "online sale you don't want to miss," according to JPMorgan.

Persons: Oppenheimer, Baird, Ben Kallo, Kallo, — Brian Evans, Apple's, Samik Chatterjee, WWDC, Atif Malik, We're, Goldman Sachs Michael Ng, OpenAI, Brian Evans, Morgan Stanley, Adam Jonas, Ford, Jonas, Ford's, Rick Schafer, Schafer, Reginald Smith, Smith, Fred Imbert Organizations: CNBC, Nvidia, JPMorgan, iPhone, Citi, Ford, China EV Locations: Monday's

☆ Elon Musk drops suit against OpenAI and Sam Altman
▼ + stars: | 2024-06-11 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

In this photo illustration, the logo of 'OpenAI' is displayed on a mobile phone screen in front of a computer screen displaying the photographs of Elon Musk and Sam Altman in Ankara, Turkiye on March 14, 2024. Elon Musk on Tuesday withdrew his lawsuit against OpenAI and two of the company's co-founders, Sam Altman and Greg Brockman, in California state court. Musk's decision to file to dismiss the suit came just one day after he publicly criticized OpenAI and its new partnership with Apple. In February, Musk had filed a lawsuit against OpenAI, Altman and Brockman — the current CEO and president of OpenAI, respectively — for breach of contract and fiduciary duty. Last year, Musk debuted his own AI startup and OpenAI competitor, xAI, which last month announced a $6 billion Series B funding round.

Persons: Elon Musk, Sam Altman, OpenAI, Greg Brockman, Musk, Altman, Brockman, It's, Kevin O'Brien, Ford O'Brien Landy, I'm, Andreessen Horowitz, X.AI, — CNBC's Lora Kolodny Organizations: Tuesday, Apple, CNBC, OpenAI, Microsoft, Elon, Sequoia Capital, Fidelity Management & Research Company, Musk Locations: Ankara, Turkiye, California, San Francisco

☆ FDA approves two new Abbott over-the-counter continuous glucose monitors
▼ + stars: | 2024-06-10 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Abbott Laboratories announced Monday it received approval from the U.S. Food and Drug Administration for two new continuous glucose monitoring systems, including one for people who don't have diabetes. A continuous glucose monitor, or a CGM, is a small sensor that pokes through the skin and tracks a person's glucose levels in real time. One of Abbott's new systems, Libre Rio, is for patients with Type 2 diabetes who do not take insulin. Oftentimes, users need a valid CGM prescription to participate in these programs, so Abbott's new over-the-counter offering could be more accessible for some consumers. Abbott competitor Dexcom , which also sells CGM systems, received FDA approval for its first-ever over-the-counter CGM in March.

Persons: Robert B, Ford, Abbott, Abbot, Lingo, Dexcom Organizations: Abbott Laboratories, U.S . Food, Drug Administration, Libre Locations: Vegas, Las Vegas , Nevada, U.S, Libre Rio

☆ With EVs, Honda may be North America's most committed automaker, for the moment
▼ + stars: | 2024-06-09 | by ( Kevin Williams | ) www.cnbc.com time to read: +6 min

While missing a host of brands, this year's edition of the Los Angeles Auto Show debuted a range of new models. But at least one automaker says it is ramping up its North American EV strategy in 2024: Honda Motor Company. Honda's EV moves come against the backdrop of EV pullbacks from other major auto manufacturers; and in some cases, shelved EV plans altogether. GM itself is playing a key role in the first mass-market EV Honda is introducing, the Prologue. The All-Electric Acura ZDX is displayed during the 2023 Los Angeles Auto Show at the Los Angeles Convention Center on November 24, 2023 in Los Angeles, California.

Persons: Josh Lefkowitz, Ford, Bob Nelson, Nelson, BEV, It's, Honda, Cliff Banks, Banks, Mary Barra, Jenni Newman, Kelley Blue, Tesla, Newman Organizations: Angeles Auto, Los Angeles Convention Center, Los Angeles Auto, Getty, Honda Motor Company, Canadian EV, pullbacks, GM, American Honda Motor Co, Honda, EVs, Banks, Auto, NBC News, EV Honda, Acura, Subaru Locations: Los Angeles , California, Canadian, Ohio, American, Canada

☆ EVs are too expensive. Here are 5 cheaper models coming soon.
▼ + stars: | 2024-06-09 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

Demand for electric vehicles has slowed in recent months amid a lack of cheaper options, and carmakers are now scrambling to develop more affordable EVs. AdvertisementLuckily for these consumers, the next few years should see a range of more affordable electric vehicles released. Here are some other new affordable EV options coming soon:Volvo EX30The Volvo EX30 goes on sale in the US this summer. picture alliance/Getty ImagesGerman automaker VW abandoned plans to build affordable EVs with European rival Renault last month, and is planning to go solo. Elliot Ross Studio, INCRivian founder RJ Scaringe pulled off a Steve Jobs-style "one more thing" when he unveiled two new affordable EVs in March.

Persons: —, John Keeble, Kia EV3, Josh Lefkowitz, Kia, Elliot Ross, RJ Scaringe, Steve Jobs, Tesla, Rivian, Scaringe Organizations: Service, Business, Ford, Nissan, Volvo, Reuters, Kia, Hyundai, EV, BI, Getty, GM, Equinox, US, VW, Volkswagen, Renault, Elliot Ross Studio, INC Rivian, Tesla Locations: Edmunds, Korean, Korea, Europe, Anadolu

☆ Where O.J. Simpson Found Acceptance, No Questions Asked
▼ + stars: | 2024-06-09 | by ( Corina Knoll | ) www.nytimes.com time to read: 1 min

Simpson, even in his final years, was somewhat of a spectacle. In his presence, heads turned and whispers swirled. When he settled in Las Vegas seven years ago, it seemed fitting that he would choose a city of escape and second acts. His lifestyle was comfortable — and far too pleasant to those who believed he deserved to spend his remaining days in prison. But there was one element that made him feel accepted in Las Vegas.

Persons: O.J, Simpson, Ford Bronco, selfies Organizations: Bentley Locations: Las Vegas

☆ Renting an electric car for the first time? What could go wrong?
▼ + stars: | 2024-06-08 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —Lydia Wu had never driven an electric vehicle before she rented a car from Avis last February. Rental car companies may have overestimated their customers’ readiness for a switch, though. In my case, I’ve rented EVs from Turo, a peer-to-peer car rental platform that’s sort of like Airbnb but for cars. Customer service as keyJoulez, an EV rental company, rents its fleet through its own website as well as through Turo. But not everyone has such a bad time when renting an EV from a big rental car company.

Persons: Lydia Wu, Wu, EVs, Hertz, Stephen Scherr, it’s, ” Hertz, Doug Jensen, Tesla, ”, “, ” Wu, I’ve, Micah Bergdale, they’re, Joulez, Jay Waldron, Waldron, Kia Organizations: CNN, Avis, Cox Automotive, Tesla, General Motors, Hertz, Kia, EV, Turo, Hyundai Kona EV, National Locations: Kansas City , Kansas, Hertz, San Diego, it’s, Polestar, New York City, “, Turo, Georgia, Washington, DC

☆ Apollo 8 astronaut William Anders who took iconic ‘Earthrise’ photo dies in plane crash
▼ + stars: | 2024-06-07 | by ( Joe Sutton | Ashley R. Williams | ) edition.cnn.com time to read: +4 min

CNN —William Anders, a NASA astronaut who was part of the 1968 Apollo 8 crew who were the first three people to orbit the moon, has died in a plane crash in Washington state, according to his son, Gregory Anders. Anders served as a fighter pilot in all-weather interception squadrons of the Air Defense Command in California and Iceland, according to NASA and the US Naval Academy. Taken aboard Apollo 8 by William Anders, this iconic picture shows Earth peeking out from beyond the lunar surface as the first crewed spacecraft circumnavigated the Moon, with astronauts Anders, Frank Borman and Jim Lovell aboard. Anders served as the lunar module pilot for the historic flight. Anders served as Executive Secretary for the National Aeronautics and Space Council from 1969 to 1973, according to NASA.

Persons: William Anders, Gregory Anders, ” Anders, Anders, Frank Borman, Jim Lovell, ”, Lovell, Borman, Gerald Ford, Bill Nelson, “ Bill Anders, ” Nelson, Valerie, CNN’s Ashley Strickland Organizations: CNN, NASA, San Juan County Sheriff’s, United States Coast Guard, United States Naval Academy, US Air Force, US Naval, Air Defense Command, US Naval Academy, Air Force Weapons Laboratory, Apollo, Time Magazine, National Aeronautics, Space Council, Nuclear Regulatory Commission Locations: Washington, San Juan Islands, San Juan County, Jones, Seattle, Hong Kong, California, Iceland, New Mexico

☆ New US truck, SUV fuel economy rules much less stringent than original proposal
▼ + stars: | 2024-06-07 | by ( ) www.cnbc.com time to read: +3 min

President Joe Biden's administration on Friday finalized tighter fuel economy rules for trucks and sport utility vehicles through 2031 that are not as stringent as it first proposed, a federal agency said. Last year, NHTSA said its proposal to hike fuel economy standards through 2032 would cost the industry $14 billion in projected fines. In June 2023, Reuters first reported Stellantis and GM paid a total of $363 million in CAFE fines for failing to meet U.S. fuel economy requirements for prior model years. NHTSA said the rule will hike fuel economy to about 50.4 miles per gallon by 2031 from 29.1 mpg currently. "Those fines wouldn't have produced any environmental benefits or additional fuel economy and would've foolishly diverted automaker capital away from the massive investments required by the electric vehicle transition," Bozzella said.

Persons: Joe Biden's, Biden, John Bozzella, Bozzella, Dan Becker Organizations: Traffic Safety Administration, Detroit, NHTSA, General Motors, Chrysler, Ford Motor, Reuters, Alliance for Automotive Innovation, Center, Transport

☆ GM has a secret to help sell its new EVs. It's Costco
▼ + stars: | 2024-06-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

Costco Auto has facilitated more than 500,000 vehicle sales annually over the past five years on average, according to Jay Maxwell, Costco Auto Program general manager responsible for strategic partnerships. GM declined to disclose how many Costco customers have purchased GM vehicles through the program. EV interestA growing number of vehicle sales made through Costco Auto are of electric vehicles, Costco said. In addition to GM, Costco Auto has partnered with Volvo, including its Polestar EV startup brand, Audi and others over the years. The Costco Auto Program was initially part of wholesale competitor Price Club, which merged with Costco in 1993.

Persons: Kena, Motors, it's, Marissa West, Michael Wayland, Jay Maxwell, Maxwell, Mary Barra, That's, Cox, Scott Mlyn, Julie Craig, –, Melissa Repko Organizations: Costco, Corbis, Getty, DETROIT —, Costco Wholesale, Detroit automaker, Costco Auto Program, EVs, Chevrolet, Chevrolet Blazer, GM North America, CNBC, U.S, Costco Auto, Canada, Ford Motor, Volkswagen, Brands, Lithia Motors, AutoNation, GM, EV, Volvo, Audi, CNBC Costco Auto, Cadillac, Industry, Cox Automotive, Dealers, New York Auto Show, Price Club Locations: Teterboro , New Jersey, CNBC, U.S, Detroit, Canada

☆ Buy these stocks with earnings momentum as market trades at all-time high
▼ + stars: | 2024-06-07 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Some stocks have forward earnings momentum that investors don't want to overlook, according to Liberum. He noted that companies with this momentum outperformed counterparts by 0.2% over the past month. Earnings momentum can be a good sign for a company as it tends to align with growth in revenue, improving margins or cost reductions, or some combination of these factors. Klement noted that earnings per share momentum has a "very chequered past" in the U.S. market. This also comes as the broader market has traded near all-time highs , forcing traders to look harder for individual stocks that have more room to run.

Persons: Joachim Klement, Klement, Nvidia, what's, Motors, LSEG, Tim Rokossa Organizations: Nvidia, Wall, LSEG, Amazon, Meta, Netflix, General Motors, Deutsche Bank, Motors, Ford Locations: U.S, Europe

☆ A top eBay seller who has earned enough money reselling pre-owned clothes to retire at 40 says anyone can succeed on the platform — but cautions against 2 common mistakes
▼ + stars: | 2024-06-06 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

After turning a broken cellphone debacle into a reselling business that evolved into an eBay empire, Richard S. is convinced that anyone can make money on the platform. The eBay veteran, who is planning on retiring in August 2024 at age 40, started selling electronics in 2008 after getting laid off. He's been studying the platform for 15 years and become the top seller of men's clothing. Accumulating a 'death pile' by sourcing and not listingThere are two main steps to selling on eBay: sourcing items and then listing them. A common mistake is listing items that you think are cool before looking into whether there's demand.

Persons: Richard S, He's, Richard, they're, It'll, Roger Federer, Rafael Nadal, Ford, what's Organizations: Service, eBay, Nike

☆ Francis Ford Coppola: ‘You Can’t Be an Artist and Be Safe’
▼ + stars: | 2024-06-06 | by ( Manohla Dargis | ) www.nytimes.com time to read: +2 min

The first time that Francis Ford Coppola had a movie in competition at the Cannes Film Festival was in 1967. Coppola made it while he was in film school at the University of California, Los Angeles, and it became his master’s thesis project. A month after the festival, he began directing his first big-budget studio film, “Finian’s Rainbow.” It flopped. He then poured some of his savings into a low-budget studio movie, “The Rain People.” It flopped. Even at Cannes, where the word “art” is used without embarrassment, money keeps an iron grip on both minds and movies.

Persons: Francis Ford Coppola, Coppola, ” Coppola, It’s, Twixt ”, Adam Driver Organizations: Cannes Film, University of California, Cannes Locations: Los Angeles

☆ Brothers-in-law Jake Gyllenhaal and Peter Sarsgaard always put family first, at home and on set
▼ + stars: | 2024-06-05 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +3 min

CNN —Jake Gyllenhaal and Peter Sarsgaard might be part of the same sprawling showbiz family, but their on-set etiquette is quite different from the dynamic they share as family around the dinner table. But when the cameras are off, according to Gyllenhaal, they both agree that family always comes first. (From left) Jake Gyllenhaal and Renate Reinsve in 'Presumed Innocent.' Apple TV+The Gyllenhaal siblings previously costarred in the beloved 2001 psychological thriller “Donnie Darko,” among other projects, and Sarsgaard starred in “The Lost Daughter” in 2021, which his wife directed. The group will continue to keep things all in the family when Gyllenhaal and Sarsgaard will reunite on Maggie Gyllenhaal’s next directorial endeavor “The Bride!” in 2025, according to Collider.

Persons: Jake Gyllenhaal, Peter Sarsgaard, Gyllenhaal, Sarsgaard, Maggie Gyllenhaal –, “ Peter, ” Gyllenhaal, ” Sarsgaard, it’s, ” “, Scott Turow, Harrison Ford, Rusty Sabich, –, “, ”, Renate Reinsve, Donnie Darko, Maggie Gyllenhaal’s, Innocent Organizations: CNN, Apple, Collider Locations: Chicago

☆ Here's why Cramer says Ford stock must be 'bought aggressively' on the dip
▼ + stars: | 2024-06-05 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Ford, Jim, Eli Lilly, Anat Ashkenazi, Ashkenazi, shakeup, isn't, Jim Cramer's Organizations: CNBC, Federal Reserve, Nasdaq, Nvidia, Apple, Microsoft

☆ Jensen Huang signed a woman's chest. Yes, you read that right.
▼ + stars: | 2024-06-05 | by ( Meghan Morris | ) www.businessinsider.com time to read: +1 min

Nvidia CEO Jensen Huang signed autographs, including a woman's top, at a Taiwanese tech event. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In a crowded booth at a Taiwanese tech conference on Tuesday, the Nvidia CEO wore the same glasses and Tom Ford jacket he sported for Sunday night's keynote address. He signed Macbooks, chips, and even a woman's top, just above her cleavage.

Persons: Jensen Huang, —, Tom Ford Organizations: Nvidia, Service, rockstar, Business Locations: Taiwan

☆ How Electric Car Batteries Might Aid the Grid (and Win Over Drivers)
▼ + stars: | 2024-06-05 | by ( Jack Ewing | ) www.nytimes.com time to read: +1 min

Electric cars are more expensive than gasoline models largely because batteries cost so much. But new technology could turn those pricey devices into an asset, giving owners benefits like reduced utility bills, lower lease payments or free parking. Automakers would make money by serving as intermediaries between car owners and power suppliers. Millions of cars could be thought of as a huge energy system that, for the first time, will be connected to another enormous energy system, the electrical grid, said Matthias Preindl, an associate professor of power electronic systems at Columbia University. “They will interact more in the future, and they can potentially support one another — or stress one another.”

Persons: Matthias Preindl, “ We’re, Preindl, “, ” Organizations: Ford Motor, General Motors, BMW, Columbia University

☆ A med student wanted to simplify his life, so he spent $33,000 turning a van into a tiny house. Take a look inside.
▼ + stars: | 2024-06-04 | by ( Amanda Goh | ) www.businessinsider.com time to read: +8 min

Ethan Liebross went for a less common housing option: He lives full-time in a van — a 2015 Ford Transit that he turned into a mobile, off-grid home. Ethan LiebrossAlthough he grew up on a farm in New Jersey, he's no stranger to van life. AdvertisementDuring his gap year, he had lived out of another van while working as a freelance writer for local newspapers. "So I decided to convert a little camper van — a Ford Transit Connect — and I traveled around the US." "We worked together on the weekends or when he came home from work," Liebross said.

Persons: —, Ethan Liebross, he's, Liebross, he'd, who's, He's, I'd, I'm Organizations: Service, Ford Transit, Business, Ford Transit Connect, Facebook Locations: New Jersey, California

☆ Ford EV and hybrid sales surge 65% in May
▼ + stars: | 2024-06-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Ford Motor's U.S. new vehicle sales rose 11.2% last month compared with May of last year, boosted by strong sales growth for all-electric and hybrid models. The Detroit automaker on Tuesday reported roughly 65% increases in sales of both hybrid and all-electric vehicles. The boost to EV sales is a conundrum for investors. The spike in hybrid sales is part of Ford's plan to double down on the technology. Ford reported total year-to-date U.S. sales through May of 877,685 units, up 5.6% compared with the same time period in 2023.

Persons: DETROIT –, Ford Organizations: New York, DETROIT, DETROIT – Ford Motor's U.S, Detroit, EV, Ford

☆ EV concerns overshadow strong Ford sales. Jim Cramer says the stock is down enough
▼ + stars: | 2024-06-04 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Ford had another month of strong sales, but a wider appeal on Wall Street for the stock depends on cutting the automaker's massive EV division losses. In the first quarter, Ford lost more than $100,000 per EV sold. He also lamented the underperformance of Ford stock relative to rival General Motors — ever since GM announced a buyback in November. However, Jim thinks Ford stock has come down enough. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Ford, EVs, Jim Cramer, General Motors —, Jim, Jim Cramer's, Danielle DeVries Organizations: EV, Bloomberg, Ford, General, GM, Club, CNBC, New York

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