Shares of Ford Motor Co. fell nearly 1% late Wednesday after the car maker reported mixed preliminary fourth-quarter results. Ford reported a net income of $2.4 billion, or 60 cents a share, in the quarter, versus a loss of $781 million, or 20 cents a share, in the year-ago period. Adjusted for one-time items, Ford earned 39 cents a share, compared with 30 cents a share a year ago. Sales rose 7% to $41.3 million, compared with $38.7 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 43 cents a share on sales of $36.3 billion. Ford shares ended the regular session up 0.8% but still hovered around four-month lows.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News