Ford's EV Overhaul, PayPal's Banking Bid, and Pfizer's Flat Sales Forecast | Stock Movers

Ford's EV Business Overhaul

• 🚗 Ford is taking nearly $20 billion in charges tied to its electric vehicle business overhaul, with the majority impacting the fourth quarter.
• 📉 Changes include canceling planned electric F-Series trucks, shifting production to gas and hybrid vehicles, and repurposing an EV battery plant.
• 🎯 Ford aims to make its EV operations profitable by 2029, acknowledging past struggles with a $5.1 billion loss last year and expected worse losses this year.
• 💡 CEO Jim Farley stated that continuing to invest billions in unprofitable EV products was not logical.

PayPal's Strategic Banking Application

• 🏦 PayPal shares are gaining as the fintech company has applied to become a bank in the U.S.
• 🚀 This move could boost the firm's small business lending and improve consumer-focused finance products, potentially offering interest-bearing savings accounts.
• 📈 PayPal's application follows similar moves by other fintech and crypto firms like Circle, Ripple, and Sony Group.

Pfizer's Future Sales Outlook

• 💊 Pfizer is forecasting little to no sales growth for the upcoming year as it seeks to refresh its drug pipeline through acquisitions.
• 📊 Revenue for 2026 is projected between $59.5 billion to $62.5 billion, which is in line with Wall Street estimates.
• 📉 Current year sales are expected to be around $62 billion, reflecting a fading demand for COVID shots.