Goodyear might be having a good year after all
Plus, Nordstrom: A winner in a tricky investment & Ford electric shocks the system
Hello there,
With the rise of electric vehicles production, one of the world’s leading tire makers, Goodyear (GT) will be benefiting greatly from it.
Why It matters: The industry leader has also merged with Cooper Tire & Rubber (CTB) to gain entry to the most lucrative North-America market. Though the bulk of these benefits will come in 2023, it's good to see the company making progress to rebuild its depleted inventories. (Barrons)
Nordstrom: A winner in a tricky investment
The department store retailer, announced an upbeat fourth quarter earnings and a stronger forecast.Â
Why it matters: Before the pandemic, retail stores have been plagued with shoppers preferring online shopping than physical stores and with the pandemic, the preference became modus operandi. Nordstrom (JWN), has been able to wave through it all with its top-notch customer service in both physical and online stores. Though its shares are down 4.5%, they are faring better than both the S&P 500 and SPDR S&P Retail ETF. For the full year, Nordstrom expects to earn between $3.15 and $3.50 a share. (Barrons)
Ford electric shocks the systemÂ
With its recent announcement, the auto giant, Ford (F) will be joining the league of electric vehicle makers.
Why it matters: Creating two internal teams, Ford Blue will handle its legacy business while Ford Model E will take on the electric vehicle production, both companies should be able to fund themselves by 2023. This division could rake in 10% profit margin for the company by 2026. Ford’s shares are currently up by 7%. (Yahoo)
That’s it from us today,
See you tomorrow.