FoMoCo’s stock reached past $13 per share in trading earlier today and reached its highest point in more than five years as the overall market saw modest gains. The Dearborn automaker’s stock hit $13.04, its highest since Feb. 17, 2005, before falling to $12.90 per share by 9:30 a.m.
FoMoCo’s cars and trucks sales were up 43.4 percent in Feb. and the company also hit its first annual profit in five years in 2009 as it gained market share in Europe and the United States.
Of course there is always someone ready to rain on someone’s parade – so Barclays Capital analyst Brian Johnson warned in a report today that Ford”s first quarter profits could be hurt by aggressive incentives launched by Toyota and General Motors last week.
– By: Omar Rana
Source: Free Press