On this episode of Stock Movers:
- Ford Motor (F) will take $19.5 billion in charges tied to a sweeping overhaul of its electric vehicle business after struggling for years to make it profitable.
- PayPal Holdings (PYPL) shares are up after the fintech company applied to become a bank in the US. The move is logical, could unlock long-term monetization and should be approved given the favorable regulatory environment, according to some analysts. However, the timeline is uncertain and it could take some years, they said.
- Pfizer (PFE) forecast little growth in sales for next year as the drugmaker looks to refresh its pipeline of hit drugs with a series of pricey acquisitions. Revenue next year will be $59.5 billion to $62.5 billion, roughly in line with Wall Street’s estimate, Pfizer said Tuesday in a statement. Sales this year are expected at $62 billion, within the range the company projected in early November.
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