jim saw coming a while ago. phil, great stuff. thanks to you. thanks to farleyat's phil lebeau talking ford. the u.s. returned to job growth in january, the jobs number at 49k. unemployment 63. jan hatzius, chief economist at goldman sachs. happy friday good to have you. >> hello >> i know you took a cue from adp and upped your estimate to 200. any explanation for why it came if, i guess, a little south of at least your expectations and some others, too >> yeah. we shouldn't have upgraded, obviously. i think explanation is leisure and hospitality was weaker than we thought the tee decline in december was it but we had another meaningful decline and also didn't get the boost in some of the other areas that we thought was going to come from seasonal factors so the headline definitely on the weaker side in the establ establishment certainly in the payroll numbers. that said, we did have a big increase in the work week. so hours worked in january were actually up pretty significantly. temporary help services also up. some of the more leading parts of the payroll rep

jim farley, the ceo has just begun to talk.n down the numbers for the fourth quarter, better than expected, way better than expected the street was expecting a loss of 7 cents per share turned in a profit of 34 cents a share. coming in short of expectations at $33.2 billion regarding the impact of the snurkt shortage that's hitting the global auto industry, ford not kbemt. they're going to be cutting f150 production next week they say 10 to 20% of its q1 production plan is going to be lost due to and potentially this year the chip shortage could shave a billion to two and a half billion off its earnings. that's potentially what could happen the news that has four shares moving higher, it has to do with its big 1re6789 announced regarding electric and autonomous vehicles. previously ford said we're going to put $1 is 1 billion into electric vehicles. they are doubling that $22 billion in ev development through 2025 separate autonomous vehicle contributions. here's farley talking about his optimism regarding the future of ford >>

jim farley said quote we reached one out of 10 vehicles sold in europe in december the pure electric evey's sales in china continue to grow and the reality is that customers including in the us are increasingly giving a mobility greater consideration we have no intention. seed ground to others now the company recently released the electric must staying mach eat its 1st evy in recent years so it raises a question about the state of the global market now through the 1st half of 2020 tesla accounted for roughly 18 percent of the global evie market with bolts wagon just behind them at roughly 12.5 percent interesting lee evey's only account for 3 percent of that company's total sales are no nissan hold roughly 9.5 percent of the global market share in evey's followed by hyundai and b.m.w. which are both around the 7 percent mark now g.m. is actually further down the list but is making inroads selling the most evey's in china in the 4th quarter of 2020 saying last week they hope to sell nothing but emission free vehicles by 2035 so it's not clear whether ford is actually looking to make a

now, my, the charitable trust owns ford, but you're looking at jim farley, a static individual, a ceoprojects and the very popular ford f-150, do i think it is a mistake to sell ford there are other things that are at work. including the deurbanization of america because of cove. and ford getting out of car where they don't make cars and i think that is misdirected because it presumes that jim farley is just another ford, just another person who is not a ferrari but a ford and he is very much involved in making modern cars and not losing money on cars so why do we take that to a sell other than because it's entertaining >> yeah, all right, well, you have been a big big proponent and dead-on with ford and with the leadership of mr. farley and i want to come back overall to the point of ev overall, you know, there are some similarities to the enthusiasm we saw around the internet, and the mid to late 90s. and the companies that were going to benefit from it and of course, some of them are still with us. such as allmazon, for example one of greatest companies. and if you bought a basket

conference call starts at 5:00 we will be on it and we will hear what jim farley has to say. >> phil,ncements are slowly but surely having an upside for the traditional automakers will it have an opposite effect effect on tesla's? >> i don't think so. i think the question is can the industry catch up to tesla i think one reason why these stocks are moving higher look, if you were a ford investor and they said nothing, yeah, just we are working on electric vehicles you would think they are whistling past the graveyard. jim farley is saying we are going to spend more and be more competitive when it comes to electric vehicles. that's what investors want to hear right now and why the stock is moving higher will it pay off? that remains to be seen. but if you are an investor in ford you want the see them making this commitment right now. >> thanks for that ford moving up a couple of percent. pinterest moving up 10% in afterhours strayed julia boorstin has the details. >> pinterest beating expectations across the board. earnings of 43 cent per share. revenue come in at $706 million. that's

going higher, ellis, and bitcoin, and mary barra will not be left behind, in the same way that jim farley would not be left behind at ford, and david, it is kind of a, an incredible moment, where you see short-term oil going up, and yet you have people at major companies, by the way, a major countries, we could make fun of, but that are so committed to getting rid of fossil fuel, long haul car, whatever, and a move to green hydrogen, it is a clash of the titanss and i don't think it will get to 2030 with oil still climbing i think oil peaks. >> i do. >> you do? when you do speak to, when you speak to a mike worth, for example, who runs chevron, and/or any of the other ceos of the major oil company, they will tell you, listen, there is an expectation that that will occur over time, between now and let's call it 2040, but at the same time, jim, they'll still say the amount of money that was on cap ex this year was far below what was spent in 2013 when we were nowhere near, you know, what we're still consuming now, so even if we go like this, in terms of consumption, there's still not enough

the company has a new ceo jim farley involved with a major reinstructioning.like it is bearing fruit. the company says they plan to invest even more money than expected in ev, autonomous vehicles. that is electric vehicles. 29 billion through 2025. now, on the negative side they are still dealing with that semiconductor chip shortage which caused cutbacks. they're cutting shift in missouri and michigan plants because of that. they have been spending a lot of money designing vehicles, ford f-150. the mustang sport mark e. a lot of money on those projections. wow, what a quarter for ford. back to you, connell. connell: on adjusted base is when a loss was expected. electric as we heard from gm. thank you, gerri willis. >>> the fight over vaccinating teachers suggesting that coronavirus vaccines are not essential to schools reopening safely. this as chicago schools are slowly moving toward a deal to reopen with unions there. fox's mike tobin with the very latest. mike. reporter: another announcement from the city today, connell. amounts to no deal. more remote lea

. >> ford shares are up about 75% since jim farley took over compare ford to general motors and thenou still see that tesla is the preferred choice for investors right now. at least in terms of what investors are thinking about the ev future. general motors reports next week expect the big focus during the analyst call will be on their plans for electric vehicles. back to you. >> phil lebeau, thank you. >>> nancy, the ev plans by the old school automakers like gm and ford breathing new life into these stocks are you a buyer? >> well, we missed it, sara. we tend not to be owners of the auto space just because of the cyclicality and their lack of loyalty to the dividend. but i bought a ford f-150 and i will trade it up for an electric version as soon as it is available. we own a lot of the chip stocks instead that are feeding into the space. it has been a great trade. as you know, we owned tesla, sold it way early. we are on the sidelines in the auto space. >> mike, is it a zero sum gain when you look at the traditional autos starting to get a benefit because of their ev plays and tesl

after the bell on q4 results curious during the conversation call, jim, how many questions the ceo jim farley may get about apple and its move towards finalizing a deal with hyundai/kia. jim? >> phil, i think they have, to phil, because i think one of the most curious things for people watching the show right now is we know that apple has the finest consumer reputation in the world, we know that ford is, under mr. farley, doing better and better, but phil, you are a huge believer in watching consumer reports and what people think of brands. is this a brand that is equal to apple, when it comes to consumer satisfaction >> are you talking about ford, if ford is equal to apple in terms of consumer satisfaction >> hyundai. >> hyundai within the auto industry >> yes. >> this gets into why would apple want to partner with hyundai, and it comes down to this one of the driving factors here is the chairman of hyundai, his name is e.s. chung, and he became the chairman of the company in october but you know, the family had long been guiding hyundai, not only in the auto business but they're in a number

jim farley is doing incredible things f-150, you can plug everything in with an office in your truck i think 2030 is something that an exxon will tell you is completely preposterous but you have walmart, interesting meeting that i didn't get to talk about because i thought doug would do some great things and you have outfits like amazon saying listen, we won't tolerate this amount of fossil fuel, you have hydrogen, green hydrogen which is very expensive right now but good for long haul, and do you have the possibility of some new scanners being developed by president biden, a lot of people are talking about president biden, away from this, just saying, look out, he's looking at what's happening with natural gas and what is the pastiche of our grid and how much can be solar and how much wind. >> and i would love for you to tell me and i believe a lot of people would benefit if you can figure this out, it's unclear you can, who will have the best battery technology we know everybody company claims they have the most efficient batteries, we have quantumscape, with the solid state, we ha

the bell today and guys, i'm sure there will be some questions during the analyst call for ceo jim farley landscape in terms of competition. maybe not a specific question on apple getting into the auto business as an auto maker, but clearly this is a space that is developing quickly and, again, we have talked with multiple sources who say that apple and hyundai kia, they are moving down the path towards finalizing a deal for production of an apple car in georgia guys, back to you. >> well, phil, i have so many questions for you, starting with this, and i first wanted to ask you this actually yesterday as i was watching you break the news on the air i'm glad we get to do it right here, which is, you made a couple of references to the idea that at least initially this car would be used for last mile transport. >> correct >> that it may not be a consumer car, at least initially. what are you thinking about in that respect, and when you talk about it being an autonomous car, is that a fully autonomous car without a driver >> well, the idea is that it would not require a driver now, look we're