Ford (NYSE:F) Tells Donald Trump, “We are here to stay in the USA”
$DIA, $SPY, $QQQ, $VXX, $F, $UTX
GOP presidential front-runner Donald Trump has made foreign trade a central theme in his campaign for the White House, singling out US companies like Ford Motor Co (NYSE:F) for moving operations abroad.
Ford CEO Mark Fields said he wrote a letter to Donald Trump defending his company, and elaborated on the defense of his company in a TV interview Wednesday, “Ford Motor Co. is here to stay in the United States.”
Donald Trump 1st hammered Ford in last April when the US automaker announced a $2.5-B expansion of operations in Mexico.
At that time, Mr. Trump said he would call Mr. Fields and say: “Let me give you the bad news. Every car, and every truck and every part manufactured in this plant that comes across the border, we’re going to charge you a 35% tax. Okay? And that tax is going to be paid simultaneously with the transaction, and that’s it.”
In his interview Mr. Fields said: “We’re very proud as a company of what we do in terms of contributing to economic development here in the US We invested over $10-B since Y 2011 at our facilities. We hired 25,000 people with plans to hire another 8,500. It is important for us to be successful in our home market and we love what we do for the economy.”
| HeffX-LTN Analysis for Ford: | Overall | Short | Intermediate | Long |
| Neutral (0.16) | Neutral (0.21) | Neutral (0.06) | Neutral (0.19) |
It was not the first time Fields responded to Donald Trump, who accused the automaker of backing off plans to expand US operations. In an earnings call with investors in October, Mr. Fields said: “Facts are stubborn things, and at Ford we’re proud of the facts. Unfortunately, we suspect the facts are getting lost in the politics.”
Donald Trump has mentioned Ford throughout his Presidential campaign, but Ford is not the only company he’s singled out.
In February, he also blasted air-conditioner maker Carrier, a unit of United Technologies Corp. (NYSE:UTX), after it announced plans to close a factory in Indianapolis and fire 1,400 employees.
By moving the plan to Monterrey, Mexico, Carrier could pay employees $6 an hour instead of $34 an hour.
| HeffX-LTN Analysis for UTX: | Overall | Short | Intermediate | Long |
| Bullish (0.34) | Neutral (0.18) | Bullish (0.49) | Bullish (0.35) |
Wednesday, US major stock market indexes finishes at: DJIA -79.98 at 17502.59, NAS Comp -52.80 at 4768.85, S&P 500 -13.09 at 2036.69
Volume: Trade was light, with under 840-M/shares exchanged on the NYSE
| HeffX-LTN Analysis for DIA: | Overall | Short | Intermediate | Long |
| Neutral (0.17) | Neutral (0.16) | Neutral (0.21) | Neutral (0.14) |
| HeffX-LTN Analysis for SPY: | Overall | Short | Intermediate | Long |
| Neutral (0.22) | Bullish (0.30) | Neutral (0.12) | Neutral (0.22) |
| HeffX-LTN Analysis for QQQ: | Overall | Short | Intermediate | Long |
| Bullish (0.29) | Bullish (0.41) | Neutral (0.08) | Bullish (0.39) |
| HeffX-LTN Analysis for VXX: | Overall | Short | Intermediate | Long |
| Neutral (-0.18) | Bearish (-0.43) | Neutral (-0.04) | Neutral (-0.06) |
Stay tuned…
Paul Ebeling
HeffX-LTN
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