Stocks Cheers on Upbeat Move: Ford Motor Co. (NYSE:F), Sanofi (NYSE:SNY), Intercontinental Hotels Group plc (NYSE:IHG)

April 26, 2023 1:11 am87 commentsViews: 88

Ford Motor Co. (NYSE:F) released that a Michigan factory that assembles its little Ford Focus and C-Max wagon will end production of persons vehicles in 2018 in a new setback to efforts to create a market for small cars made in the U.S. Production of the Focus will be moved exterior the U.S. The move could put pressure on the United Auto Workers union to temper demands for wage increases in upcoming contract negotiations. Ford, General Motors Co. and Fiat Chrysler Automobiles NV, although profitable, are struggling to keep pace with lower-cost Asian auto makers that now have the added advantage of weaker currencies compared with the U.S. dollar. Ford Motor Co. (NYSE:F) stock hit highest price at $14.54, beginning with a price of $14.48 to close at 14.48 by an increase of 1.05% with a day range of $14.33-$14.54.

Sanofi (NYSE:SNY) along with its animal health firm Merial released in the U.S. of Oravet Dental Hygiene Chews for dogs. The company expects to introduce the dental chew in other markets in early 2016. The companies said Oravet Dental Hygiene Chews use exclusive, new, dual-action technology to significantly reduce the formation of plaque, calculus and halitosis at their source. Shares of Sanofi (NYSE:SNY) opened at $51.95 with 2609.86 million outstanding shares and hit to its highest price of $51.95 during the day and finally closed at $51.49 by scoring 5.56%. In the whole session, it traded on volume of 2.95 Million shares, which turned higher than its average volume.

Intercontinental Hotels Group plc (NYSE:IHG) declared on Friday that it has decided to sell IHG’s ownership interest in InterContinental Hong Kong to Supreme Key Limited, a consortium of investors advised as well as managed by Gaw Capital Partners, for a gross buy price of $938 million. The purchaser has paid a cash deposit to IHG of $94M, with the remaining proceeds payable in cash on completion. The transaction is scheduled to complete in the second half of 2015. The buyer has also made a commitment to invest in a significant refurbishment of the InterContinental Hong Kong. This is expected to commence in 2017 and will take place over a period of 18 months. On the other consideration, Intercontinental Hotels Group plc (NYSE:IHG) begun last trade with a price of $41.63 and throughout the trading session climbed at $41.83. The day-trade ended with an advance of 4.87% to close at $41.76.


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