The real Ford Mustang is going electric, report says
Fox News Autos test drive: 2021 Ford Mustang Mach-E
The 2021 Ford Mustang Mach-E is the automaker’s first purpose-built electric car and a very different kind of pony. Fox News Autos Editor Gary Gastelu reports.
Ford took a gamble calling its first electric utility vehicle the Mustang Mach-E, which is the first model with more than two doors to carry the Mustang name.
It’s success is still to be determined. Deliveries declined in March and again in April from February highs, but Ford reported that it is the brand’s quickest selling model, needing just four days to turn off dealer lots.
The Mustang Mach 1 is Ford’s latest V8-powered Mustang
Ford is plotting an electric future across its lineup, however, and a new report says the Mustang coupe and convertible will be following the Mustang Mach-E down the zero emissions highway.
Ford Performance Chief Engineer Carl Widmann recently told Autoweek, “I don’t think the gas engine has met its day in the near term, there are still a lot of fans of it.” However, he said it’s ultimately up to the customers.
“They drive what we do.”
Report: Texans quarterback Deshaun Watson won’t attend OTAs, still wants trade
Houston Texans quarterback Deshaun Watson is expected to be a no-show at the team's organized team activities this week, according to a report from NFL.com.
Watson also is reportedly firm on his request to be traded, which he made known to the team before he was accused of sexual misconduct in nearly two dozen lawsuits.
Watson's status for this season will depend on several things. The Houston Police Department and the National Football League are actively investigating Watson and depending on their findings, Watson at the very least could be in violation of the league's personal conduct policy.
The 25-year-old has denied at least part of the accusations and has not been around the team in months.
Urban Outfitters Q1 Results Beat Street View; Shares Up 6%
Shares of Urban Outfitters Inc. (URBN) are gaining nearly 6% on Tuesday extended session after the apparel retailer reported a first-quarter profit and sales that trounced Wall Street expectations, driven largely by double-digit growth in both retail and online sales.
The company reported profit of $53.5 million or $0.54 per share, compared to a loss of $138.4 million or $0.1.41 per share last year. On average, 18 analysts polled by Thomson Reuters were expecting the company report a profit of $0.17 per share.
Revenue for the quarter surged 57.6% to $927.4 million from $588.5 million last year. Analysts had a consensus revenue estimate of $900.15 million for the quarter.
Comparable Retail segment net sales increased 51%, driven by strong double-digit growth in both retail store and digital channel sales. Last year’s results were heavily impacted by the COVID-19 pandemic.
Commenting on the results, Richard Hayne said, “Strong ‘comps’ were driven by powerful demand and superb execution by all teams. In May, sales trends have accelerated further which we believe bodes well for second quarter results.”
URBN closed Tuesday’s trading at $34.96, up $0.24 or 0.69%, on the Nasdaq. The stock further gained $2.04 or 5.84%, in the after-hours trade.
Oil Prices Dip As Nuclear Talks Progress
Oil prices fell on Thursday as investors fretted over Indian energy demand and the impact of Iranian oil on supply.
Brent crude futures for Aug settlement dropped 0.8 percent to $68.15 a barrel, while U.S. West Texas Intermediate (WTI) crude futures for July delivery were down 0.8 percent at $65.66.
Traders focused on the Iranian nuclear talks being held in Vienna aimed to revive a nuclear accord.
Talks between Iran and world powers resumed on Tuesday for reviving the 2015 nuclear deal, formally known as the Joint Comprehensive Plan of Action.
U.S. top negotiator Rob Malley said on Tuesday that the latest round of talks was constructive and saw meaningful progress. But much work still needed to be done.
The increase of supply from Iran is expected to be gradual, if sanctions on the country are lifted.
The Organization of Petroleum Exporting Countries and its allies are set to meet on June 1 to discuss the state of the market and their production policy.
Investors also remain concerned about demand in India as COVID-19 runs rampant across the country.
Transport fuel demand is likely to grow at a slower than expected pace this year amid uncertainties around lockdowns and the pace of vaccinations.
NBA’s Social Justice Coalition urges US Senate to pass George Floyd bill
On the anniversary of the murder of George Floyd, the NBA and its Social Justice Coalition are urging are the United States Senate to pass the George Floyd Justice in Policing Act.
According to the bill, if passed, it would address "a wide range of policies and issues regarding policing practices and law enforcement accountability." The bill also calls for police to be held accountable for their actions and would prohibit and restrict unnecessary use of force, carotid holds and the use of no-knock warrants.
Former Minneapolis police officer Derek Chauvin kneeled on the neck and back of Floyd for almost 10 minutes after Floyd was detained by Minneapolis police outside of a convenience store last May.