Jump to content
  • Greetings Guest!

    CheersandGears.com was founded in 2001 and is one of the oldest continuously operating automotive forums out there.  Come see why we have users who visit nearly every day for the past 16+ years. Signup is fast and free, or you can opt for a premium subscription to view the site ad-free.

Sign in to follow this  

Ford stock jumps 6%

Recommended Posts

Ford stock jumps 6%

Detroit automaker's stock jumps 60 cents after $4B debt-cutting plan unveiled



Ford’s stock price rose 60 cents, or 6%, today after the company announced it would reduce its total debt by more than $4 billion, much of through earlier than required payments to a UAW health care trust fund.

Ford’s stock was trading at $10.48 per share by mid-morning today after closing Tuesday at $9.88 per share — its lowest mark since Dec. 21.

In a research report issued after Ford’s announcement Wall Street analyst Joseph Amaturo said he is encouraged by Ford’s debt reduction actions and said he expects Ford will continue to gain market share in the U.S. this year.

“We believe management’s actions to reduce its gross automotive debt levels are very encouraging,” Amaturo said in the report. “It is a meaningful reversal from management’s decision to “hoard” cash given concerns about the capital and automotive markets in 2009.”

Ford’s stock had dropped by $4.69 per share, or 32%, since April 26 — the day before it reported a $2.1-billion first-quarter profit and signaled that quarterly profits for the rest of the year could be smaller.



Share this post

Link to post
Share on other sites

Your content will need to be approved by a moderator

You are commenting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Who's Online   0 Members, 0 Anonymous, 4 Guests (See full list)

    There are no registered users currently online

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets



Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.