January 31st 2023

Ford lowers prices of electric Mustang Mach-E to compete with the Tesla's Model Y. Ford announced Monday that it will lower the prices of its electric Mustang Mach-E by an average of $4,500 depending on the model. The move aims to compete with Tesla's Model Y, and Ford expects to offset some profit shrinkage through cost improvements and additional production. Nissan and Renault shake up alliance with reduction in stake and investment in electric vehicles.

Nissan and Renault have agreed on a major shake up of their alliance with Nissan limiting Renault's control over its management and Renault receiving an investment in its electric vehicle business under the agreement which is subject to approval from both companies boards, Renault will reduce its 43% stake in Nissan to 15% to match Nissan's stake in Renault. Phillips cut 6,000 jobs for improved profitability and patient safety.

Phillips is cutting 6,000 jobs to improve its profitability and achieve a low teens profit margin By 2025. The reduced workforce is expected to lead to improved patient safety, quality, and supply chain reliability with a mid to high teens profit margin beyond 2025 and mid single digit comparable sales. Amateur buyers outperform Wall Street in housing slump. In some areas of the US, first time home buyers and small investors are outpacing sophisticated players in the housing market.

As big investors relying on algorithms suffer losses while iBuyers are nursing losses, local flippers sold homes for 20% above their purchase. Shell integrates gas and upstream businesses for improved performance. Shell is combining its most profitable operations into a new division headed by current upstream director Zoe Yujnovich. The overhaul aims to simplify the organization and improve performance with the executive committee reduced from nine to seven members. What to watch this week...

Morgan Stanley advises against joining the rally ahead of Fed announcement. Morgan Stanley's team, led by Michael Wilson, advises against participating in the recent stock rally as they believe it is more a reflection of the seasonal January effect and short covering after a tough end of December and brutal year. Hedge funds increase Treasury shorts to record high on doubts of rally.

According to the latest data from the CFTC, hedge funds have increased their net-short non-commercial positions across all Treasuries maturities to a record 2.4 million contracts. The positions, covering a variety of investment ,strategies clash with the narrative that a peak in rate hikes is near and a US recession will drive investors back into bonds. Nelson Peltz targets $71 billion Fox deal in a battle against Disney and Iger.

Activist investor Nelson Peltz is seeking a seat on Disney's board and aims to fixate on the $71 billion Fox deal in his fight against Disney and CEO Bob Iger. Peltz argues that the company has a "balance sheet from hell" due to its 2019 acquisition of Fox's movie and television assets, and has a reputation for pushing for changes and stock price increases once he secures a board seat. Travel Centers of America to introduce EV fast charger stations nationwide.

Travel Centers of America is partnering with Electrify America LLC to build approximately 1,000 electrical vehicle fast chargers across the US starting this year. The partnership aims to add fast charging stalls to around 200 of Travel Centers,' TA and Petro stopping centers, addressing the shortage of fast chargers on US highways that is hindering greater EV adoption. Baidu to debut ChatGPT-style bot to enhance search services.

Chinese search gian Baidu to launch a ChatGPT-style bot, China's largest search engine company, plans to debut a ChatGPT-style application in March, initially embedding it into its main search services. The tool, whose name hasn't been decided, will allow users to get conversation-style search results much like OpenAI's popular platform. And that caps off your snackable new summary for the day. But now what? What can you do with this new found intel?

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