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A public deal announcement with Stellantis is expected later Saturday afternoon or early evening, the sources said. Stellantis shuttered its assembly plant in Belvidere, Illinois, early this year, leaving 1,300 workers without jobs. The tentative contract deal will have provisions on the use of temporary workers, the sources said, adding Stellantis has agreed to significant investment. Fain and other senior union leaders are briefing local UAW chiefs by video conference, the sources said. The deal is also expected to include investments in other U.S. plants, including the Trenton engine plant, the sources said.

Persons: Stellantis, Shawn Fain, Biden, Fain, Tesla, Ford, Joe Biden, David Shepardson, Joseph White, Sayantani Ghosh, David Gregorio, Peter Henderson Organizations: United Auto Workers, Chrysler, Detroit Three, UAW, Ford, GM, Detroit, Detroit automakers, EV, Toyota, Kentucky, Korean, buildouts, U.S, Republican, Thomson Locations: Belvidere , Illinois, Illinois, U.S, Trenton, Detroit, Arlington , Texas, Tahoe, Sterling Heights , Michigan, Hollywood, Michigan

The United Auto Workers union said it reached a tentative deal with Stellantis on Saturday, six weeks after workers went on strike. Earlier in the week, Ford also reached a tentative agreement with the UAW. Photos: Emily Elconin/Bloomberg NewsThe United Auto Workers called a fresh strike at a General Motors factory in Tennessee, a surprise walkout after negotiators had been working nearly around the clock to finalize a new contract this weekend. Workers at GM’s factory in Spring Hill, Tenn., were ordered to go on strike Saturday evening, according to people with knowledge of the union’s plans. The strike came just as the UAW confirmed that it reached a tentative agreement with Chrysler parent Stellantis on a new labor contract.

Persons: Stellantis, Ford, Emily Elconin Organizations: United Auto Workers, UAW, Bloomberg, General Motors, Workers, Chrysler Locations: Tennessee, GM’s, Spring Hill, Tenn

☆ UAW, Stellantis Reach Tentative Agreement on New Four-Year Labor Contract
▼ + stars: | 2023-10-28 | by ( Nora Eckert | Ryan Felton | ) www.wsj.com time to read: 1 min

The United Auto Workers union said it reached a tentative deal with Stellantis on Saturday, six weeks after workers went on strike. Earlier in the week, Ford also reached a tentative agreement with the UAW. Photos: Emily Elconin/Bloomberg NewsThe United Auto Workers has reached a tentative agreement with Chrysler-parent Stellantis on a new labor contract, moving the union one step closer to ending a historic strike that has dinged all three automakers and put more than 45,000 workers on the picket lines for six weeks. The UAW plans to announce the proposed contract as soon as Saturday afternoon, according to people familiar with the situation.

Persons: Stellantis, Ford, Emily Elconin Organizations: United Auto Workers, UAW, Bloomberg, Chrysler

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 27 (Reuters) - Chrysler parent Stellantis (STLAM.MI) and the United Auto Workers were nearing a deal that could be finalized as soon a Saturday to end a six-week-old strike, sources told Reuters. The deal will likely set a pattern for new UAW contracts with GM and Stellantis. Talks between Stellantis and the UAW were set to reconvene at 10 a.m. Detroit after lengthy talks on Friday. Talks between the UAW and General Motors were continuing past 9 p.m. Friday. The deal amounts to total pay hikes of more than 33% when compounding and cost-of-living mechanisms are factored in, the UAW said.

Persons: Rebecca Cook, Stellantis, Ford, John Lawler, David Shepardson, Joseph White, Chizu Nomiyama, Peter Henderson, Matthew Lewis, Raju Gopalakrishnan Organizations: General Motors, REUTERS, Chrysler, United Auto Workers, Reuters, Ford Motor, Detroit, GM, Stellantis, UAW, Bloomberg, Ford, Thomson Locations: Detroit , Michigan, U.S, Stellantis, Detroit, New York, Washington

DETROIT (AP) — Jeep maker Stellantis has reached a tentative contract agreement with the United Auto Workers union that follows a template set earlier this week by Ford, two people with knowledge of the negotiations said Saturday. Political Cartoons View All 1223 ImagesLike the Ford contract, the Stellantis deal would run through April 30, 2028. Jermaine Antwine and other Stellantis workers picketing outside the automaker’s Sterling Heights, Michigan, were excited Saturday after hearing news of a tentative deal. The union and Stellantis went into intense negotiations on Thursday, the day after the Ford deal was announced, and finalized the agreement on Saturday. Under the Ford deal, workers with pensions also will see small increases when they retire, and those hired after 2007 with 401(k) plans will get large increases.

Persons: Stellantis, Bruce Baumhower, “, Fain, Baumhower, Shawn Fain’s, ”, Jermaine Antwine, Antwine, Ford, Haleluya Hadero, Corey Williams Organizations: DETROIT, United Auto Workers, Ford, Workers, Jeep, UAW, General Motors, GM, Saturday, Kentucky, Plant, Detroit, Hollywood, Teamsters, AP Locations: Michigan, Ohio, Stellantis, Belvidere , Illinois, Toledo , Ohio, Sterling Heights , Michigan, Pontiac , Michigan, Sterling, Texas , Michigan, Missouri, Louisville, Jersey City , New Jersey

☆ UAW expected to announce tentative agreement with Stellantis to end labor strike
▼ + stars: | 2023-10-28 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

The tentative agreement, which would still need to be approved by union leaders and ratified by members, is patterned off a 4½-year agreement reached between the union and Ford Motor on Wednesday, sources previously told CNBC. The UAW plans to hold a meeting early Saturday afternoon with local Stellantis union leaders following the sides agreeing in principle to the terms of a deal. The tentative agreement is expected to end six weeks of targeted labor strikes by the union after the sides failed to reach new deals for 146,000 UAW members before a Sept. 14 deadline. The union called back more than 16,000 striking Ford workers after reaching a tentative deal with the automaker. It's not immediately clear how much the labor deals will increase labor costs for the companies, which had argued that giving in to all of the union's demands would affect their competitiveness and even long-term viability.

Persons: Stellantis, Shawn Fain, Ford, It's Organizations: United Auto Workers, DETROIT, UAW, Ford Motor, CNBC, General Motors, GM, Bloomberg News, Ford, Deutsche Bank Locations: Sterling Heights, Mich, Illinois

☆ UAW reaches tentative agreement with Stellantis
▼ + stars: | 2023-10-28 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —The United Auto Workers union has reached a tentative agreement with Stellantis, which makes vehicles under the Dodge, Ram, Chrysler and Jeep brands, a source familiar with the negotiations told CNN. The tentative agreement with Stellantis Saturday follows a similar deal reached with Ford Wednesday. Ford’s deal gives union workers sizeable pay and benefits increases to contend with inflation that has taken a bite out of workers paychecks. When the cost-of-living adjustments and guaranteed raises are combined, they are expected to raise Ford workers’ wages 30% or more. At the time the Ford deal was announced, there were 16,600 members on strike at Ford, 14,200 on strike at GM and 14,600 on strike at Stellantis.

Persons: Ford, “, ”, Chuck Browning, Todd Dunn, Colin Langan, Wells, Stellantis, Langan Organizations: New, New York CNN, United Auto Workers, Stellantis, Dodge, Chrysler, Jeep, CNN, Ford, UAW, General Motors, GM, UAW Local, Kentucky, Sterling Locations: New York, Detroit, Stellantis, Sterling Heights , Michigan, Arlington , Texas, Arlington, Wells Fargo

☆ Ford's UAW deal proves workers can sometimes get what they want – and bosses should be worried
▼ + stars: | 2023-10-28 | by ( Pete Syme | ) www.businessinsider.com time to read: +4 min

GM and Stellantis started negotiations with the UAW on Thursday after it reached an agreement with Ford. An end to the auto workers' strike is now in sight six weeks after they began. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The Ford deal could be a wake-up call not just for GM and Stellantis, but for any CEO facing with potential strike action by their workforce. AdvertisementAdvertisementThe Teamsters had threatened strike action, with more than 340,000 unionized UPS employees set to take part, which the company decided it could do without.

Persons: Stellantis, —, Ford, It's, Jim Vondruska, Shawn Fain, Mary Barra, Ethan Miller, Bernie Sanders, Fain Organizations: UAW, Ford, Corporate America, Service, United Auto Workers, General Motors, GM, Reuters, Teamsters, UPS, Big Three, America Locations: Sterling Heights , Michigan, Arlington , Texas, Las Vegas

☆ Ford shares fall after pulling full-year forecast, wider losses in EV unit
▼ + stars: | 2023-10-27 | by ( Shivansh Tiwary | ) www.reuters.com time to read: +2 min

The Detroit automaker also pulled its 2023 forecast, citing "uncertainty" over the pending ratification of its new labor deal with the United Auto Workers (UAW) union, which is expected to significantly increase labor-related expenses. The company's quarterly report added to the gloom around the EV market, which has seen inflation-wary consumers pull back on some purchases. Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany September 10, 2019. The automaker has lost about $4.32 billion in market cap throughout the duration of the strike, according to LSEG data. Reporting by Shivansh Tiwary and Nathan Gomes in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Ford, BEV, Wells, Wolfgang Rattay, John Lawler, Shivansh Tiwary, Nathan Gomes, Krishna Chandra Organizations: Ford Motor, Detroit, United Auto Workers, UAW, REUTERS, EV, Reuters, Ford, General Motors, Thomson Locations: Kentucky, Frankfurt, Germany, Bengaluru

☆ How the UAW and Ford struck a historic deal
▼ + stars: | 2023-10-27 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +6 min

On Wednesday, after 41 days on strike, the UAW and Ford reached a tentative agreement. The Rouge plant in Dearborn, Michigan is where Ford Chairman and fourth generation controlling family member Bill Ford spoke about negotiations for the first-time last week. That speech perturbed UAW President Shawn Fain, who responded with a threat. What comes nextGetting the deal done with Ford was a big hurdle, according to a third source with knowledge. The Ford CEO said the deal the UAW was looking for would bankrupt the company.

Persons: Ford, Bill Ford, Shawn Fain, Jim Farley, ”, Fain, Benjamin Dictor, Dictor, Chuck Browning, “ Ford, “ We’re, Browning, Taylor Glascock, Farley, John Lawler, CNN’s Chris Isidore Organizations: CNN, United Auto Workers, Kentucky, Plant, UAW, Ford, General Motors, Arlington Assembly, UAW Ford Department, Ford UAW, GM, Ford Motor Co, Chicago Assembly Plant, General Motors Co, Stellantis, Bloomberg, Getty Locations: Louisville, GM’s, Arlington, Texas, Michigan, Rouge, Dearborn , Michigan, Dearborn, Chicago , Illinois

☆ UAW closing in on deals with both GM and Stellantis
▼ + stars: | 2023-10-27 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +5 min

There are about 29,000 UAW members currently on strike at GM and Stellantis. That deal still needs to be ratified by a vote of 57,000 UAW members at Ford before it will take effect. If deals are reached at GM and Stellantis by Friday, the union could begin the ratification process at all three at the same time. Membership approval of any deals reached at GM and Stellantis would also be needed before they would take effect. Most recently it added the largest Stellantis plant in Sterling Heights, Michigan, on Monday, and the largest GM plant in Arlington, Texas, on Tuesday, shortly after GM reported stronger than expected quarterly earnings.

Persons: Ford, Colin Langan, Wells, Stellantis, Langan, “, ”, Chuck Browning, Todd Dunn Organizations: New, New York CNN, United Auto Workers, General Motors, UAW, GM, Ford, Stellantis, Sterling, UAW Local, Kentucky Locations: New York, Detroit, Stellantis, Sterling Heights , Michigan, Arlington , Texas, Arlington, Wells Fargo

☆ Dana sees 'significant impact' from UAW strikes to North American operations
▼ + stars: | 2023-10-27 | by ( Nathan Gomes | ) www.reuters.com time to read: +2 min

Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan U.S. September 29, 2023. Dana said the UAW strikes affected some of its largest light truck programs, including Ford Super Duty, Ranger and Bronco as well as Stellantis' Jeep Wrangler and Gladiator. "The longer the UAW strike continues, the greater financial stress there will be across the Tier 2 through Tier 4 supply base," Dana's chief executive James Kamsickas said in a post-earnings call with analysts. Dana expects its full-year sales to be $10.7 billion if UAW strikes through Oct. 31, or $10.2 billion with strikes through Dec. 31. GM and Ford have pulled their full-year forecasts this week to account for impacts from the UAW strikes.

Persons: Rebecca Cook, DAN.N, Dana, James Kamsickas, Nathan Gomes, Shilpi Majumdar Organizations: United Auto Workers, UAW, General Motors Lansing Delta Plant, Michigan U.S, REUTERS, Dana, Detroit Three, General Motors, Ford Motor, Stellantis, Ford Super Duty, GM, Ford, Anderson Economic Group, Thomson Locations: Delta Township, Michigan, North America, Bengaluru

☆ Mack Trucks says UAW demands unrealistic, no new talks set
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: 1 min

The logo of Mack Trucks is seen on a truck in a yard in Mejicanos, El Salvador, August 16, 2018. REUTERS/Jose Cabezas/File Photo Acquire Licensing RightsOct 26 (Reuters) - Volvo Group-owned (VOLVb.ST) Mack Trucks said Thursday the United Auto Workers' contract demands are unrealistic and that no new talks are scheduled after workers went on strike on Oct. 9, following their rejection of a proposed five-year contract. About 73% of the unit's 4,000 workers in Pennsylvania, Florida and Maryland voted against a tentative agreement that included a 19% pay raise that had been endorsed by UAW leaders. Mack Trucks said the UAW leadership's economic demands "continue to be unrealistic." Reporting by David Shepardson; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Mack Trucks, Jose Cabezas, David Shepardson, Tom Hogue Organizations: REUTERS, Volvo Group, United Auto Workers, UAW, Thomson Locations: Mejicanos, El Salvador, Pennsylvania, Florida, Maryland

☆ Experts weigh in on recent college grad's viral complaints about 9-to-5 schedule: 40-hour workweek is 'a historical accident'
▼ + stars: | 2023-10-27 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

In a viral TikTok, a recent college graduate bemoaned the demands of a 9-to-5 work schedule. Historically, there is precedence for this change, says Ben Hunnicutt, a historian who focuses on why companies abandoned shorter workdays. "The 40-hour workweek, from 9-to-5, is not a universal mandate from God, it's a historical accident," he says. Gen Z workers, like Brielle, might be the ones to facilitate a shift in company expectations. "There is a tendency now in younger folks to value their time more than advancement at work," Hunnicutt says.

Persons: Brielle, doesn't, I'm, they'd, Ben Hunnicutt, Gen, Hunnicutt Organizations: UAW

☆ Ford shares fall 9% after earnings underline worries about costs and EV plans
▼ + stars: | 2023-10-27 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Ford Motor Company's electric F-150 Lightning on the production line at its Rouge Electric Vehicle Center in Dearborn, Michigan, on Sept. 8, 2022. Shares of Ford Motor traded sharply lower Friday after the company reported earnings that missed estimates and said that demand for its electric vehicles was falling short of expectations. Ford reported its third-quarter results after the markets closed Thursday, and they weren't what Wall Street had expected. Ford on Wednesday night became the first of the three Detroit automakers to reach a tentative agreement with the UAW. Ford also withdrew its previous financial guidance for 2023 in light of the pending deal with the UAW.

Persons: General Motors, John Lawler, Jim Farley's, Ford Organizations: Ford, Electric Vehicle, Ford Motor, United Auto Workers, General, Wall, Detroit, UAW, Tesla Locations: Dearborn , Michigan, Kentucky, U.S, North America

☆ The UAW-Ford Deal: What’s in the Contract, Who Won and What It Means for GM and Stellantis
▼ + stars: | 2023-10-26 | by ( Nora Eckert | Mike Colias | ) www.wsj.com time to read: 1 min

The United Auto Workers union said it reached a new tentative deal with Ford that could bring an end to a six-week strike at one automaker while negotiations continue at General Motors and Chrysler-parent Stellantis. Photo: Michael Swensen/Getty ImagesThe United Auto Workers reached a new tentative labor deal with Ford Motor Wednesday night, calling workers off the picket lines at the automaker. Here’s what to know about the deal, what’s next for Ford and the union, and what the agreement means for the company as well as its rivals General Motors and Chrysler-parent Stellantis .

Persons: Michael Swensen, what’s Organizations: United Auto Workers, Ford, General Motors, Chrysler, Ford Motor

☆ Ford Pays Dearly for Labor Peace With the UAW
▼ + stars: | 2023-10-26 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: Paul Gigot Interviews Bjorn Lomborg. Images: AP/EPA Composite: Mark KellyPresident Biden praised what he called the “historic tentative agreement” that the United Auto Workers and Ford struck late Wednesday as a testament to collective bargaining. Perhaps, but the real test will be whether Ford can stay competitive, especially amid the government-forced electric-vehicle transition. UAW President Shawn Fain ’s strategy of staging strikes at select plants operated by all three Detroit auto makers appears to be paying off. The union was threatening to call off workers at a factory that builds Ford’s highly profitable F-150 pickup when the auto maker agreed to a generous deal that ends the nearly six-week walkout.

Persons: Paul Gigot, Bjorn Lomborg, Mark Kelly President Biden, Ford, Shawn Fain ’ Organizations: United Auto Workers, UAW, Detroit

☆ What’s next for the auto strikes
▼ + stars: | 2023-10-26 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +8 min

But the strike at the company isn’t quite over, and there’s no immediate end in sight for the strikes at General Motors and Stellantis. And pay increases will be even greater for some workers who were being paid at a lower pay tier. Generally union members do not return to work when a tentative agreement is reached until after a ratification vote is concluded. The Mack Trucks deal also had double-digit pay hikes of 10% immediately and 20% over the four-year life of that contract. But it didn’t have the COLA or some of the other gains the union achieved in the deal at Ford.

Persons: “, Ford, Isaiah Goddard, He’s, ”, Chuck Browning, Shawn Fain, “ We’re, John Deere, Mack Trucks, Fain, John Lawler Organizations: New, New York CNN, Ford, General Motors, United Auto Workers, Chrysler, CNN, UAW, Stellantis, GM, Management, Fortune, EV Locations: New York, Ypsilanti , Michigan, Ford

☆ The UAW's blockbuster deal will see Ford workers' pay jump more in 4 years than all pay rises in the past 2 decades combined, the union says
▼ + stars: | 2023-10-26 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

The United Auto Workers has reached a tentative agreement with Ford on a four-and-a-half year contract. The 25% general wage increase is more than Ford workers' total pay rise between 2001 and 2022, the UAW said. Temporary workers at Ford are set to see their pay increase by two-and-a-half times. And the starting wage for Ford workers will go up by 68% over the term of the contract, the union said. AdvertisementAdvertisementFord's tentative agreement comes after Stellantis and GM workers went on strike on Monday and Tuesday, respectively, at the companies' most profitable plants.

Persons: —, 🧵#, alf, ince, ord, hawn Organizations: United Auto Workers, Ford, UAW, Service, WA

☆ Stock futures rise after the Nasdaq declines further into correction territory: Live updates
▼ + stars: | 2023-10-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 26, 2023. U.S. stock futures rose on Thursday night after the Nasdaq Composite slipped further into correction territory. Futures tied to the S&P 500 advanced 0.5%, while Dow Jones Industrial Average futures advanced 115 points, or 0.3%. The action comes after the index slid into correction territory on Wednesday. The S&P 500 ended the day 1.18% lower — 9.8% off its closing high for the year in July and teetering dangerously close to correction territory.

Persons: teetering, Sonia Meskin, We're, Dow, Dow Jones Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, UAW, Dow, BNY Mellon Investment Management, PCE, Chevron, Exxon Mobil Locations: New York City, U.S

Oct 26 (Reuters) - Ford (F.N) autoworkers were set to head back to work after the United Auto Workers (UAW) union reached a tentative labor deal with the company late Wednesday. Ford was the first of Detroit's Big Three car manufacturers to negotiate a settlement to strikes joined by 45,000 workers since mid-September. The UAW will now turn its attention to talks with General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI). The UAW told Ford workers now on strike to return to their jobs during the ratification process. That means production of Ford Super Duty pickups, Ford Bronco and Explorer SUVs and Ranger trucks could restart this week.

Persons: Ford, Harley Shaiken, Shawn Fain, Jim Farley, David Shepardson, Joseph White, Abhirup Roy, David Gaffen, Mark Porter Organizations: United Auto Workers, UAW, General Motors, Chrysler, Ford, University of California, GM, Ford Bronco, Thomson Locations: University of California Berkeley, Washington, Detroit

DETROIT (AP) — General Motors and Jeep maker Stellantis are meeting with United Auto Workers bargainers Thursday to see if they can reach a contract agreement that mirrors a deal signed with crosstown rival Ford. Nearly 17,000 striking workers at Ford left the picket lines when the agreement was announced Wednesday night and will return to work shortly. About 57,000 Ford workers still have to vote on the tentative pact. It wasn't clear what Ford agreed to in terms of battery factories. Ford had announced plans to build two battery factories in Kentucky, one in Tennessee and another in Michigan, but the Michigan plant is now on hold.

Persons: Shawn Fain, Wheaton, “ Fain, ” Wheaton, it's, Ford, haven’t Organizations: DETROIT, —, Motors, United Auto Workers, Ford, GM, Cornell University, Chevrolet, UAW, Workers, Toyota, Moody’s Investor Service Locations: Fort Wayne , Indiana, Flint , Michigan, Arlington , Texas, Kentucky, Tennessee, Michigan

☆ Ford withdraws 2023 forecast, warns on EV results
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany September 10, 2019. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsOct 26 (Reuters) - Ford Motor Co (F.N) on Thursday withdrew its full-year results forecast due to the pending ratification of its deal with the United Auto Workers (UAW) union, sending shares of the company down 7% in after-hours trade. Ford's Detroit rival General Motors (GM.N) on Tuesday withdrew its 2023 profit outlook due to the strike. Ford said third-quarter revenue rose 11% to $44 billion, with profit of $1.2 billion compared with a year-earlier loss of $827 million. The automaker warned it may experience a higher-than-expected loss in its Ford Model e electric-vehicle business due to ongoing price wars.

Persons: Wolfgang Rattay, Ford, Nathan Gomes, Paul Lienert, Devika Syamnath, Matthew Lewis Organizations: REUTERS, Ford Motor, Thursday, United Auto Workers, UAW, Ford, Wednesday, Detroit Three, Anderson Economic Group, General Motors, Tuesday, Ford Model, Thomson Locations: Frankfurt, Germany, Detroit, Texas, Bengaluru

☆ Ford is set to report earnings on the heels of its tentative deal with the UAW
▼ + stars: | 2023-10-26 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Ford Motor is set to report its third-quarter earnings after the bell Thursday. Here's what Wall Street is expecting, according to average estimates compiled by LSEG, formerly known as Refinitiv. Aside from earnings, Wall Street will be watching the impact of the United Auto Workers union's nearly six-week strike against the automaker, which ended Wednesday night for Ford after the sides reached a tentative agreement. Barclays analyst Dan Levy estimates the total strike impact to Ford was $600 million to $700 million. That would be less than the $800 million impact, including $200 million in the third quarter, GM reported Tuesday.

Persons: Dan Levy, Ford, Levy Organizations: DETROIT, LSEG, United Auto Workers, Ford, Barclays, GM

☆ Ford misses on earnings, as warranty costs move carmaker back near the penalty box
▼ + stars: | 2023-10-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Ford (F) reported weaker-than-expected earnings on Thursday as warranty costs ate into profits. Earnings before interest and taxes (EBIT) increased 22% from last year to $2.2 billion but fell short of the $2.7 billion analysts forecasted. Ford shares moved more than 3% lower in after-hours trading in reaction to the disappointing quarter. Ford said the strike has caused Ford to trim about 80,000 units from its plan, reducing 2023 EBIT by $1.3 billion. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Ford, we've, Jim Farley, John Lawler, Jim Cramer's, Jim Cramer, Jim, James Farley, Emily Elconin Organizations: Ford, United Auto Workers union, LSEG, UAW, Ford Model, Management, Ford Pro, United Auto Works, CNBC, Ford Motor Co, Rouge Electric Vehicle, Bloomberg, Getty Locations: EVs, Dearborn , Michigan, U.S

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