SAN FRANCISCO Ford Motor Co. surprised Wall Street for a second day on Tuesday, posting an improvement in October U.S. sales in the wake of its upbeat earnings report a day earlier.
Ford shares jumped more than 8 percent on Monday after the Dearborn, Mich.-based automaker said it swung to a profit of $997 million when analysts were calling for a loss. Ford also painted a rosier outlook for 2011.
Ford's stock was down almost 1 percent on Tuesday to $7.52 but has still surged more than 250 percent over the past year.
As for October, sales rose 2.6 percent to 132,483 vehicles, thanks primarily to Ford's new model lineup as well as rising demand for the company's fuel-efficient cars.
The new Taurus sedan saw sales surge to 6,076 cars from 2,517 last year while the Fusion, Escape and Edge also came in with much strong results.
No comments:
Post a Comment