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Yahoo BusinessOct 28, 2020
Ford Posts Strong Third-Quarter Earnings, Sees 2020 Profit
(Bloomberg) -- Ford Motor Co., riding a wave of momentum from new models and new management, handily beat expectations with third-quarter earnings that outran the economic effects of the coronavirus pandemic.Fueled by strong sales of pricey pickups, Ford posted adjusted earnings per share of 65 cents, well above the 19 cents analyst consensus forecast. Big profits in North America offset weakness overseas, allowing the company to revise its full-year forecast. It now expects to stay in the black this year, a reversal from an earlier outlook for its first annual loss in a decade.Ford's stock rose as much as 7.8% in postmarket trading after closing Wednesday at $7.70. The shares are down about 17% this year.The long-suffering automaker is enjoying a surge in sentiment since industry veteran Jim Farley became chief executive officer Oct. 1, replacing retiring Jim Hackett, to whom Wall Street never warmed. Intense and demanding, Farley is expected to jumpstart a turnaround that has been sputtering for years. The latest quarterly results help position the company to put the worst behind it.Ford said adjusted earnings before interest and taxes came to $3.6 billion in the quarter compared with $1.8 billion a year ago. Revenue in the quarter was $37.5 billion, above the $33.98 billion analysts anticipated.Unresolved IssuesFarley said the bullish performance belies underlying woes that need to be resolved before the carmaker can achieve its goal of sustainable profit margins above 10% in its core North American market."

MarketWatchOct 28, 2020
Earnings Results: Fast start for coronavirus drug boosts Gilead earnings, but stock sinks on forecast
In the first quarter of sales of its COVID-19 antiviral drug, Gilead Sciences Inc. produced better profit and sales than expected, buts its beleaguered shares were hit by a reduction in its annual sales forecast Wednesday.

Yahoo BusinessOct 28, 2020
US STOCKS-S&P 500, Dow sink 3% to late-Sept lows on virus, election worry
The S&P 500 and the Dow slumped on Wednesday to their lowest levels since late September, as coronavirus cases climbed globally and investors also worried about the possiblity of a contested U.S. presidential election next week. A spiraling pandemic and the failure to approve new fiscal stimulus before the Nov. 3 election put the blue-chip Dow on track to close at its lowest since early August.


CNBC FinanceOct 28, 2020
Dow sinks more than 900 points for its worst drop since June amid rising virus cases globally
U.S. stocks fell sharply amid concerns over the latest increase in coronavirus infections and its potential impact on the global economy.

MarketWatch MarketPulseOct 28, 2020
Coronavirus tally: Global cases of COVID-19 44 million, 1.17 million deaths and U.S. counts record 500,000 new cases in a week
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 44 million on Wednesday, according to data aggregated by Johns Hopkins University, while the death toll rose to 1.17 million. The U.S. has the highest case total at 8.8 million and deaths at 226,723. The U.S. has counted a record 500,000 new cases in the past week, the New York Times reported, even as the administration of President Donald Trump announced in a news release that it was "ENDING THE COVID-19 PANDEMIC," in upper case. Brazil has the second highest death toll at 157,946 and is third by cases at 5.4 million. India is second in cases with 7.9 million, and third in deaths at 120,010 Mexico has the fourth highest death toll at 89,814 and ninth highest case tally at 901,268. The U.K has 45,455 deaths, the highest in Europe and fifth highest in the world, and 920,664 cases.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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