Shares of Ford Motor Company (NYSE:F) ended Monday session in red amid volatile trading. The shares closed down -0.17 points or -1.38% at $12.12 with 24.95 million shares getting traded. Post opening the session at $12.35, the shares hit an intraday low of $12.10 and an intraday high of $12.38 and the price vacillated in this range throughout the day. The company has a market cap of $47.77 billion and the numbers of outstanding shares have been calculated to be 3.90 billion shares.
Ford Motor Company (F) continues to reach new heights in China, with demand rising 24 percent in September. So far this year, sales for Ford, Lincoln and its joint ventures have totaled nearly 880,000 vehicles, up 11 percent over last year.
The driving force behind Ford’s growth in the world’s largest auto market has been its expanded SUV lineup. Sales of the Ford EcoSport, Kuga, Edge, Everest and Explorer, and Lincoln MKC, MKX and Navigator have totaled nearly 230,000 vehicles this year, an 18 percent increase over 2015.
Chinese car enthusiasts have also made the Ford Mustang a cult hit. Sales of the iconic pony car have topped 2,300 so far this year, already surpassing last year’s total. What’s more, the new Ford Focus reached nearly 20,000 sales in September, up 43 percent year over year.
“Ford has been building momentum month after month, winning new customers with the most exciting and appealing lineup we have ever offered in China,” said Peter Fleet, vice president, Marketing, Sales and Service, Ford Asia Pacific. “We will continue to listen to customers and meet their needs with great new cars, SUVs and commercial vehicles.”
Shares of Nike Inc (NYSE:NKE) closed at $51.79 with 5.47 million shares getting traded. Post opening the session at $52.13, the shares hit an intraday low of $51.77 and an intraday high of $52.25 and the price vacillated in this range throughout the day. The company has a market cap of $86.50 billion and the numbers of outstanding shares have been calculated to be 1.33 billion shares.
Nike Inc (NKE) announced that Tom Peddie becomes the new VP, GM of North America, succeeding Joaquin Hidalgo, who has served in this role since July 2013 and will be taking a leave of absence to focus on his health. This change is effective immediately.
Peddie, a 26-year Nike veteran, has held senior management roles across Nike, including VP North America Sales and VP Global Sales. He was previously VP, GM of Emerging Markets and joined the North America team earlier this year as VP, GM of Integrated Marketplace, where he has led Nike’s holistic integrated market strategy in North America.
“Tom is a strong leader with a deep understanding of our consumer and the integrated marketplace,” said Elliott Hill, President of Geographies and Sales, Nike Brand. “He has proven time and again his ability to lead teams toward continued and profitable long-term growth and we look forward to his leadership in this important geography.”
“Joaquin has shown an unwavering commitment to our brand and to leading the North America business,” said Hill. “During the three years of his leadership, the North America business grew by more than a billion dollars each year. We look forward to his return to Nike.”