Ford Stock on Pace for Worst Day in More Than 11 Years After Cost Warning

While no major Wall Street analysts downgraded the stock in light of the update, several were caught off guard by Ford's announcement. Expectations were that supply chain problems were easing. What's more, Ford had recently been avoiding such problems better than some of its competitors.

BofA Securities analyst John Murphy echoed those feeling in a note to investors Tuesday:"Ultimately, this news is somewhat surprising as broader macro news suggest supply chains have gotten incrementally better over the last few months."

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Ford warns investors of an extra $1 billion in supply chain costs during the third quarterFord warned investors that the company expects to incur $1 billion more in costs than previously expected during the third quarter due to supply chain issues You mean supply chain pandemic profiteering to recoup losses for which the govt has already given relief by shifting higher prices downstream to end customers. Shame.
Source: CNBC - 🏆 12. / 72 Read more »