In today’s briefing:
- Ford Halts Construction of U.S. EV Battery Plant Using CATL Technology
- Index Rebalance & ETF Flow Recap: Thai Bev, Golden Agri, EcoPro Materials, Doosan Robotics, PCOMP
- VF Corporation: Understanding the Dynamics Behind The Recent Financial Performance! – Major Drivers
- Best Buy Co. Inc.: Unpacking the Strategies Yielding Profitability Gains in Membership Programs! – Major Drivers
Ford Halts Construction of U.S. EV Battery Plant Using CATL Technology
- Ford Motor Co. said Monday it was suspending construction of its $3.5 billion electric-vehicle (EV) battery plant in the U.S. midwestern state of Michigan, where it had planned to manufacture batteries using technology licensed from Contemporary Amperex Technology Co. Ltd. (CATL) (300750.SZ -0.31%).
- “We’re pausing work and limiting spending on construction on the Marshall project until we’re confident about our ability to competitively operate the plant,” Ford spokesperson T.R. Reid said in a statement emailed to Caixin.
- “There are a number of considerations. We haven’t been specific about what they are, nor made any final decision about the planned investment there,” Reid said.
Index Rebalance & ETF Flow Recap: Thai Bev, Golden Agri, EcoPro Materials, Doosan Robotics, PCOMP
- There were a few rebalances implemented last week, notably the Nikkei 225 (NKY INDEX) and the NIFTY family of indices. Plus an ad hoc Philippines Stock Exchange PCOMP INDEX rebalance.
- Nickel Asia (NIKL PM) will replace UnionBank of the Philippines (UBP PM) in the Philippines Stock Exchange PCOMP INDEX in a surprise move at the close on 3 October.
- There were outflows from iShares MSCI Japan ETF (EWJ US), Tracker Fund of Hong Kong (2800 HK) and iShares MSCI Emerging Markets (EEM US) during the week.
VF Corporation: Understanding the Dynamics Behind The Recent Financial Performance! – Major Drivers
- VF Corporation delivered a mixed result in the past quarter, with revenues above anticipations, but it failed to surpass the analyst consensus in terms of earnings.
- While their on-time performance and in-stock percentages were both back in line with their expectations, lead times concluded the quarter at typical levels.
- Vans experienced a 22% decline in the quarter and was significantly impacted by the brand’s expected 40% decline in wholesale sales in the Americas.
Best Buy Co. Inc.: Unpacking the Strategies Yielding Profitability Gains in Membership Programs! – Major Drivers
- Best Buy delivered a positive result and managed an all-around beat last quarter.
- While absorbing more significant incentive compensation costs than Best Buy saw last year, the company managed to maintain level SG&A costs.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
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