September 28, 2022

La Ronge Northerner

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Stocks on the move after hours: Ford, Cognex, and more

Stocks on the move after hours: Ford, Cognex, and more

stronghold (F): Shares fell in extended trading after the company warned of rising costs due to inflation and supply chain challenges. Ford now sees inflation-related supply costs going about $1 billion higher during the quarter than it previously estimated and sees the shortfall affecting about 40,000 to 45,000 vehicles, shifting some revenue into the fourth quarter. Ford expects adjusted EBIT for the third quarter of $1.4 billion to $1.7 billion, but it reiterated its adjusted EBIT guidance for the full year.

Bitcoin (BTC-USD): Bitcoin fell below $19,000 to its lowest level in three months as risky assets fell ahead of the Federal Reserve’s interest rate decision on Wednesday. Bitcoin dropped to an intraday low of $18,420.94 on Monday while Ethereum (ETH-USD) to $1,289.27.

Cognex (CGNX): The manufacturer raised its revenue guidance for the third quarter driven by its ability to “meet customer demand faster than expected.” Cognex now expects revenue between $195 million and $205 millionnup from the previous range of $180 million to $190 million.

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