Stock Movers: Ford's EV Overhaul, Zillow's Google Challenge, and Hershey's Gains

Ford's EV Business Overhaul

• 🚗 Ford (F) announced a significant overhaul of its electric vehicle (EV) division, which has incurred substantial losses.
• 💰 The strategic shifts are expected to result in nearly $20 billion in charges, with the majority impacting the fourth quarter.
• ⚡ A notable pivot involves converting EV battery plants to produce units for stationary storage.
• 📉 Despite the overhaul, the stock saw only a modest 1% increase in after-hours trading.

Zillow Faces Google's New Ad Format

• 📉 Zillow (Z) experienced a significant stock drop, falling as much as 13% and closing 8% lower.
• 🏢 This decline is attributed to Google testing a new real estate advertising format that integrates for-sale listings directly into search results.
• 📊 Other real estate companies like CoStar Group also saw declines on the news, though the Google feature is currently in a limited test phase.
• ⚠️ Wall Street strategists are largely dismissing the immediate fears, with some calling them overblown, while others suggest it could pressure growth for companies like Ado and Open Door.

Hershey's Stock Performance

• 🍫 Hershey (HSY) shares gained over 3% following a positive recommendation from Morgan's.
• 📈 The company is positioned for a multi-year earnings recovery, supported by a strong performance in the chocolate category.
• 💡 Hershey is noted for its innovation and consistent organic sales growth of at least 2%.
• 🍬 The report suggests that despite the rise of GLP-1 drugs, consumers continue to indulge in chocolate from time to time, sustaining consumption.