Ford, Fiat Chrysler, GM, Nissan September Sales Surge

Mukesh Buch
01 Oct, 2015
New York City

Ford, Fiat Chrysler, GM, Nissan U.S. sales in September surged. Bassett Furniture profit and revenues jumped. JPMorgan plans to bid for $18 billion of mortgages sold by the U.K. government. McCormick net tumbled 21%. Rite Aid same store sales increased 1.5%.

[R]12:25 PM New York – Ford, Fiat Chrysler, GM, Nissan U.S. sales in September surged. Bassett Furniture profit and revenues jumped. JPMorgan plans to bid for $18 billion of mortgages sold by the U.K. government. McCormick net tumbled 21%. Rite Aid same store sales increased 1.5%.[/R]

Tollbooth Index slipped 75.29 or 0.7% to 10,050.94.

Earnings Review

Bassett Furniture Industries Inc ((BSET)) surged 10.8% or $3 to $30.85 after the home furnishing company said total sales in the third-quarter ending on August 29 surged 30% from a year ago to $111 million.

Comparable store sales in the quarter soared 14%.

Net income in the quarter doubled to $4.3 million or 39 cents per diluted share compared to $2.3 million or 21 cents from the same quarter last year.

Ford Motor Company ((F)) slid 1 cent to $13.56 after the auto maker said total U.S. sales in September jumped 23% to 221,599 vehicles and retail sales also soared 23% to 168,522 vehicles.

F-Series truck sales in the month advanced 16% to 69,651 and Ford brand SUVs achieved the best September results in 12 years and surged 27%. Mustang sales increased 199% and Lincoln sales totaled 8,680 vehicles and increased 20%, the best in last eight years.

Fiat Chrysler Automobiles NV ((FCAU)) slid 2 cents to $13.19 after the passenger cars maker said total U.S. vehicle sales in September surged 14% to 193,019 units from a year ago month and the September sales since 2000.

Total car sales in the month were flat at 39,328 units while truck sales soared 18% to 153,691 units from a year ago period. Jeep Brand sales jumped 40% to 77,201 units and Ram Truck brand sales increased 4% to 39,946 units.

Chrysler brand sales declined 5% to 27,250 units and Dodge brand sales rose 3% to 45,170 units.

General Motors Company ((GM)) gained 1.2% or 37 cents to $30.39 after the automaker said total vehicles sales in September soared 12.5% to 251,310 units from a year ago month and sales for the year jumped 4.2% to 2,299,847 units.

GM retail sales in the month surged 17.3% to 203,895 units.

GM’s average transaction prices increased almost $800 per unit compared to August and almost $3,200 from a year ago month while incentives declined $400 per unit from last month and $800 from a year ago month.

Nissan Motor Co Ltd, the car maker reported total U.S. sales in September jumped 18.3% to 121,782 units from 102,955 units in the same month a year ago.

Total car sales in the month soared 13.8% to 68,926 units while total truck sales surged 24.7% to 52,856 units from a year earlier.

JPMorgan Chase & Co ((JPM)) rose 11 cents to $61.08 after the Bloomberg News reported financial services provider plans to bid for about £12 billion or $18 billion of mortgages sold by the U.K. government.

McCormick & Company, Inc ((MKC)) declined 4.1% or $3.37 to $78.80 after the spice maker reported total sales in the third-quarter ending in August rose 2% from a year ago to $1.06 billion.

Net income in the quarter tumbled 20.6% to $97.6 million or 76 cents per diluted share compared to $122.9 million or 94 cents from the same quarter last year.

McCormick forecasted revenues for the fourth-quarter to jump between 4% and 6% but lowered its earnings per share guidance in the range of $3.11 to $3.18.

Rite Aid Corporation ((RAD)) rose 4 cents to $6.11 after the retail drugstore chain said total drugstore sales in the four weeks ending on September 26 increased 1.8% to $2.059 billion and same store sales increased 1.5%.

Pharmacy same store sales jumped 2.2% but front-end same store sales decreased 0.1%.

Stolt-Nielsen Limited, the liquid transportation and storage solutions provider stated revenues in the third-quarter ending in August declined 8.2% from a year ago to $500.7 million.

Net income in the quarter soared to $30.3 million or 54 cents per diluted share compared to $14.6 million or 25 cents from the same quarter last year.

Teva Pharmaceutical Industries Ltd ((TEVA)) gained 1.5% or 87 cents to $57.31 after the generic pharmaceutical maker agreed to acquire Mexico-based rival Representaciones e Investigaciones Médicas, S.A. de C.V (Rimsa) in a debt and cash free basis transaction for about $2.3 billion.

The transaction is expected to close in beginning of first-quarter of 2016.