Stocks Cheers on Upbeat Move: Ford Motor Co. (NYSE:F), Netgear Inc. (NASDAQ:NTGR), Abaxis, Inc. (NASDAQ:ABAX)

April 26, 2023 7:21 am1 commentViews: 55

Ford Motor Co. (NYSE:F) is looking for to use contract talks this summer to ease the burden. GM and Fiat Chrysler have had an advantage, dating back to bankruptcies in 2009, that lets both automakers hire lower-wage workers in unlimited numbers. Ford, by contrast, has had to give 48 percent raises to over 800 factory employees this year. Ford gets a chance to remedy the imbalance as it opens talks with the United Auto Workers on a replacement for the four-year contract that expires Sept. 14. Ford has complained that its labor costs have ballooned above those of its domestic competitors because it isn’t subject to the same terms in a wage system that has enabled the Detroit Three to hire 39,150 workers in the last four years. Ford Motor Co. (NYSE:F) stated an advance of 1.32% to close at $14.61. The total market capitalization remained 58.08 Billion, total volume of 29.42 Million shares held in the session was surprisingly higher than its average volume of 25360.21 shares.

Netgear Inc. (NASDAQ:NTGR) stated second-quarter net earnings of $3.7 million or $0.11 per share compared with $14.7 million or $0.40 per share last year. Not including items, adjusted earnings for the quarter were $0.29 per share compared with $0.58 per share a year ago. Revenues for the quarter were lower at $288.8 million compared with $337.6 million in the previous year. Analysts polled by Thomson Reuters estimated earnings of $0.30 per share on revenues of $277.8 million for the quarter. Analysts’ estimates typically exclude special items. Shares of Netgear Inc. (NASDAQ:NTGR) traded at $28.75 by plunging -0.42% with price volatility of 1.62% for a week and 1.77% for a month. Its beta stands at 1.94 times.

Abaxis, Inc. (NASDAQ:ABAX) stated FIRST QUARTER net income of $7.00 million or $0.31 per share, compared to $4.72 million or $0.21 per share, last year. On average, nine analysts polled by Thomson Reuters predictable the firm to report profit per share of $0.28 for the quarter. Analysts’ estimates typically exclude special items. lint Severson, CEO of Abaxis, stated, “We are off to a strong start in fiscal year 2016, as we achieved double-digit growth in our total instrument and consumable revenues within our portfolio of point of care diagnostic products. Revenues for the quarter raised 21 percent, driven by total veterinary sales and total medical sales raises of 21 percent and 20 percent, respectively. Domestic and international sales both raised by double-digit percentages versus the FIRST QUARTER last year.” Abaxis, Inc. (NASDAQ:ABAX) is going forward its 52-week low with 34.31% and moving down from its 52 week high price with -16.62%.


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