Ford ( F ) Stock Up on Earnings Report 7/23/09

July 23, 2009 - Shares of Ford Motor Co. (F) are surging this morning on a better then expected earnings report. Ford stock is currently trading Up 6% to $6.76 which is higher then the recent high of $6.54. I now expect Ford to trade up to $8-$9 in the next 3 months. Check out my previous technical analysis chart. The best thing about the quarter was the fact that they ended the quarter with 21 billion in automotive gross cash. This is up 2 billion from the 19 billion expected.

Ford Motor Co. ( F ) Earnings - 7/23/09


Ford Motor Company (NYSE: F) today reported a pre-tax operating loss of $424 million in the second quarter of 2009, excluding special items – a $609 million improvement compared with the second quarter of last year – as cost reductions, net pricing, Ford Credit results and market share helped offset the continued impact of the severe global economic downturn.

On an after-tax basis, excluding special items, Ford posted an operating loss of $638 million in the second quarter, or $0.21 per share, compared with a loss of $1.4 billion, or $0.63 per share, a year ago.

Ford posted net income of $2.3 billion, or $0.69 per share. These results compare with a net loss of $8.7 billion, or $3.89 per share, in the second quarter of 2008.† The results for the second quarter 2009 include a special items net gain totaling $2.8 billion, or $0.90 per share, which includes a $3.4 billion gain related to Ford and Ford Credit’s recent debt-reduction actions.

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