If you’re into managing your own portfolio and love watching company stocks make you some extra green for your pockets, than FoMoCo most likely has kept you satisfied in the past couple of months. The Dearborn automaker has benefitted in recent weeks from an increase in industry sales and positive analysts’ reports.
Ford’s stock increased 24.3 percent since August. 26, when it closed at $11.17 per share and is now hanging around less than a dollar away from its 52-week high of $14.57 on April 26.
FoMoCo earned $4.7 billion for the first half of 2010 and is expected to earn about $1.2 billion for the third quarter, according to estimates by 15 analysts tracked by Thomson One Analytics.
Ford’s stock closed yesterday at $13.88, or 8 cents higher than the close on Friday, after reports of the automaker reducing its stake in Mazda. Ford currently holds a 11 percent stake in Mazda, which it reduced from 33 percent in 2008.
– By: Omar Rana
Source: Free Press