Ford bounces back from multiyear low - Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars
LinkBack Thread Tools Display Modes
post #1 of 1 (permalink) Old 08-15-02, 05:33 AM Thread Starter
Mr. Embargo
Join Date: May 2001
Location: Embargoland
Posts: 3,745
Ford bounces back from multiyear low

DEARBORN, Mich. (CBS.MW) -- Shares of No. 2 automaker Ford Motor bounced back from levels not seen in almost 10 years Wednesday as the broader market staged a late-afternoon advance.

Shares of Ford ended the day down 9 cents to $11.35. More than 18 million shares had changed hands in a session that saw the stock hit $10.65 a share -- average daily volume is just over 9 million shares.

The last time the stock traded this low was in December 1992.

As a policy, Ford, headquartered in Dearborn, Mich., doesn't comment on the stock price, said spokesman David Reuter.

The spreads on Ford bonds are widening, noted Ron Tadross, analyst at Bank of America Securities. "They have a better balance sheet than GM. I don't know why they'd penalize it [the stock] so much," he said.

Shares of other automakers were higher, with No. 1 automaker General Motors (GM: news, chart, profile) rising $1.63 to $44.69.

Earlier this week, Ford's top executives signed off on the company's financial results, ahead of Wednesday's SEC-mandated deadline. The company also said it will sell its Kwik-Fit European repair business at a loss. See full story.

Last week, the company hosted an analyst dinner where executives fielded questions about the company's restructuring and debt-rating prospects. UBS Warburg analyst Saul Rubin summed it up simply in a note to clients after the meeting: "Lively and entertaining; at times, rather worrying."

Source: (CBS MarketWatch)

RPO83 is offline  
Sponsored Links

  Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > Latest Ford News and Racing News > Ford Worldwide News

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode

Similar Threads
Thread Thread Starter Forum Replies Last Post
Ford family celebrates 100 years of cars Stacy94PGT Ford Worldwide News 0 06-10-03 05:46 AM
FORD TOUGH: The pressure's on for Bill Ford Jr. to finish first Stacy94PGT Ford Worldwide News 0 06-10-03 04:52 AM
'Henry had the dream' Stacy94PGT Ford Worldwide News 0 03-28-03 05:58 AM
A CENTURY OF VISION: Fords built city, changed the world Stacy94PGT Ford Worldwide News 0 03-12-03 07:17 AM
Ford Product-Led Transformation: 2003 RPO83 Trans | Driveline 0 07-22-02 06:48 AM

Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

For the best viewing experience please update your browser to Google Chrome