POSTED: 10:16 A.M. MARCH 8, 2010 | UPDATED: 12:13 P.M. MARCH 8, 2010
Ford stock hits 5-year high
BY BRENT SNAVELY
FREE PRESS BUSINESS WRITER
FREE PRESS BUSINESS WRITER
Ford’s stock edged past $13 per share in trading early today and reached its highest point in more than five years as the broader market saw modest gains.
The automaker’s stock hit $13.04 — its highest mark since Feb. 17, 2005 — before falling to $12.90 per share by 9:30 a.m.
Sales of Ford’s cars and trucks increased 43.4% in February and the company achieved its first annual profit in five years in 2009 as it gained market share in the U.S. and Europe.
However, Barclays Capital analyst Brian Johnson warned in a report today that Ford’s first quarter profits could be hurt by aggressive incentives launched last week by Toyota and General Motors
.
U.S. stocks inched higher today after a fresh round of mergers and acquisitions. Also, Asian markets surged in their first trading session following an upbeat U.S. jobs report Friday.
Contact BRENT SNAVELY: 313-222-6512 or bsnavely@freepress.com. The Associated Press contributed to this report.
No comments:
Post a Comment