Diamonds and Dogs
Ferrari (RACE) revving its engines. The high-end auto maker is up 6% to a new 52-week high following earnings. The Italian car maker shipped fewer than 2,500 units in the quarter compared to Tesla which shipped almost 100,000 cars in the quarter but brought in a $1 billion in revenue with an average price of $400,000 per vehicle. Management feels good about 2020 expecting a strong year, partly because of the mix of vehicles the company is offering. Ferrari has introduced high-priced new models like the F8 Spider and the Ferrari 812 GTS. The 812 GTS has a 12-liter engine generating more than 520 foot-pounds of torque. A nicely equipped BMW 3-series sports car, for comparison, has about 300 foot-pounds of torque.
McDonald's (MCD) losses two key officers. McDonald's is down nearly 3% today and down 14% from the summer highs as the CEO and their Global Chief People Officer are both stepping down for separate personal reasons. The CEO, Steven Easterbrook had a concealed consensual relationship with an employee. Not sure why the People Officer is stepping down. The People Officer, Fairhurst has been with the McDonald's for 15 years, and was promoted to the top HR job shortly after CEO, Easterbrook was named to the top spot in 2015.