RACE Stock Recent News

British Formula One star Lewis Hamilton will leave Mercedes at the end of the upcoming season and is set to join Ferrari in 2025, according to both teams, in what could be one of F1's biggest moves in nearly a decade.

The Ferrari biopic, starring Adam Driver as Enzo Ferrari, was snubbed in the Academy Awards race. The film got no Oscar nominations.

Ferrari beat on the top and bottom lines in 2023. Management forecasts more growth -- but slower growth -- in 2024.

Shares in Ferrari hit fresh record highs on Thursday, driving the luxury sports car maker's market value closer to the $100 billion mark after the Italian group predicted strong orders would deliver more growth.

Ferrari (RACE) came out with quarterly earnings of $1.74 per share, beating the Zacks Consensus Estimate of $1.59 per share. This compares to earnings of $1.24 per share a year ago.

The automaker reported a net profit of 1.26 billion euros ($1.36 billion) for 2023, including 294 million euros ($317.9 million) during the fourth quarter.

Seven-time Formula 1 world champion Lewis Hamilton is on the cusp of a surprise move from Mercedes to Ferrari for the 2025 season, according to media reports.

Thursday, Ferrari reported fourth quarter earnings per share of €1.62. Wall Street was looking for €1.56.

British Formula One star Lewis Hamilton is reportedly set to leave Mercedes to join Ferrari in 2025, according to several news outlets, in what could be one of the sport's biggest moves in nearly a decade.

Lewis Hamilton will join Ferrari (NYSE:RACE) for the 2025 F1 season, sending shockwaves through both the sport and the car industry, reports revealed on Thursday. Hamilton, who has won seven world titles at Mercedes since joining in 2013, will leave the Brackley-based Formula One team to replace Carlos Sainz at Ferrari.