Diamonds and Dogs
Ford Motors (F) finally having a good day. The automaker is up 3% after boosting U.S. production of its largest sport utility vehicles in a move to grab profits in a market where consumers favor larger, more comfortable vehicles. Ford's Kentucky Truck plant in Louisville will increase the production rate for Ford Expedition and Lincoln Navigator sport utility vehicles by 20 percent in July, adding 550 new jobs. The Trump administration has proposed freezing U.S. fuel efficiency standards, a decision that would make it easier for automakers to sell large SUVs and pickup trucks.
DSW (DSW) not making money. The shoe retailer is down 13% not far from a 52 week low following earnings. DSW reported a fourth quarter loss missing estimates as inventory ballooned. DSW has been on a buying binge acquiring a number of brands along with Payless Shoes. With the recent acquisitions, DSW will rebrand itself as Designer Brands with a new ticker symbol, DBI on April 2. The name change reflects its growing portfolio with Camuto Group, a design and brand development business that owns the Vince Camuto line which holds footwear licenses for Jessica Simpson and Lucky Brand.