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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."

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MarketWatchOct 28, 2020
Earnings Results: Pinterest's pandemic surge continues, stock jumps more than 25% toward fresh record highs
Pinterest Inc. continued to experience a surge in new users during the COVID-19 pandemic, leading to larger-than-expected profit and revenue growth this summer, according to a Wednesday earnings report that sent shares on another ride toward fresh record highs.

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.

MarketWatch MarketPulseOct 28, 2020
: Sturm Ruger stock rises as unrest drives sales
Sturm, Ruger & Co. RGR shares rose in the extended session Wednesday after the gun maker reported a surge in sales due to police defunding protests, civil unrest, and the ongoing COVID-19 pandemic. Sturm shares rose 3.7% after hours, following a 0.4% rise in the regular session to close at $65.48. The company reported third-quarter net income of $24.6 million, or $1.39 a share, compared with $4.8 million, or 27 cents a share, in the year-ago period. Revenue rose to $145.7 million from $95 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 98 cents a share on revenue of $132 million. "Consumer demand showed no signs of letting up during the quarter as concerns about personal protection and home defense were stoked by civil unrest in some cities around the United States, the call, by some, for the reduction in funding and authority of law enforcement organizations, and the continuing COVID-19 pandemic," said Sturm Chief Executive Officer Christopher Killoy in a statement. "As a result of this unprecedented demand, inventories remained significantly reduced at all levels in the channel during the third quarter." Sturm shares are up 39% for the year, compared with a 1.3% rise in the S&P 500 index SPX.

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.



MarketWatch MarketPulseOct 28, 2020
MediaAlpha stock gets off to a good start on a bad day for the stock market
Shares of MediaAlpha Inc. got off to a good start Wednesday on a bad day for the overall stock market, as the Los Angeles-based insurance broker went public 21.1% above the $19 initial public offering price. The stock's first trade was at $23.00 at 12:01 p.m. Eastern for 1.2 million shares. The IPO priced late Thursday right in the middle of the expected range of between $18 and $20 a share, as the company raised $118.9 million and a selling shareholder sold $56.8 million worth of shares. The stock has inched slightly lower since it opened, to trade 20.8% above the IPO price. MediaAlpha went public on a day that the Renaissance IPO ETF dropped 3.2% and the Dow Jones Industrial Average shed 663 points, or 2.4%.

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.



Yahoo BusinessOct 28, 2020
UPS sinks despite profit, revenue beat
Yahoo Finance's Kristin Myers and Sibile Marcellus discuss why UPS shares sunk despite better than expected quarterly earnings.




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