Ford Motor Co.’s better-than-expected quarterly earnings and raised guidance posted on Thursday were overshadowed by a delay in a key milestone for its electric vehicle production, sending the stock down more than 4% on Friday.
The company’s bonds also came under pressure, as the following chart from data-as-a-service provider BondCliQ Media Services shows. So far, there has been slightly better selling on the day with decent volume for a summer Friday, as indicated by the blue line. The net flows are for all Ford bonds since 8.00 a.m. Eastern.Ford’s F quarterly profit was about three times higher than last year’s quarter and revenue rose 12% to sail past consensus estimates, as MarketWatch’s Claudia Assis reported.
The company’s EV production growth has been “disappointing,” CFRA analyst Garrett Nelson said Thursday.
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Source: CNBC - 🏆 12. / 72 Read more »