There must be more to this than meets the eye. If the mistake was corrected, why is Ford stock not back to where it was before the mistake?????? This is the mystery of Wall Street that nobody will ever have the answer to, with 100% certainty. I don't care if there are a million reasons why it did'nt recover, i'll say it again, nobody will ever know the truth with 100% certainty. This stuff is just too odd.
DOW JONES NEWSWIRES
Ford Motor Co. (F) hasn't changed guidance for the fourth quarter and still expects a 26-cents-a-share profit for the period, the auto maker said Tuesday, refuting an earlier report that it expects to post a loss in the quarter, CNBC reported Tuesday.
CNBC said unidentified Ford officials refuted an earlier report, also by CNBC, that the auto maker's chief financial officer, Lewis Booth, told analysts in Detroit on Tuesday of an expected loss in the fourth quarter due to flooding in Thailand.
Ford officials said the company does expect its Asia-Pacific region to post a loss for the full year, CNBC reported.
This is why I NEVER buy on margin,NEVER watch CNBC, NEVER set stop losses.Once you start playing their games; It's time to quit and put your hard earned $ in a box somewhere and forget about it.
It's too bad that stupid Jim Cramer is spewing about this - he doesn't understand English obviously. The loss in Asia preventing "all units from making a profit" means that it is the one exception to all other divisions which are profitable - what an idiot!
"Everyone likes everything! Goody! They even like Ford (F), which just said that Thailand prevented all units from making a profit. I had to read that headline about a dozen times before I believed it. All units?
This is the kind of thing I really worry about. People were buying up Ford yesterday on the strength of its new models. The new models! Turns out that the whole company is losing money.
You have to be troubled that a worldwide company is losing money in every division because of Thai flooding. This isn't Toyota with the tsunami. This is Thai flooding that didn't even cause much of technology to get dinged that badly.
Right now everything is hunky-dory. We have that new money flowing in like mad. We have the end of the nasty redemptions. We have the classic overlook of Alcoa (AA).
But I have to think that perhaps we need a bit of a breather when we get excuses like we just heard from Ford."
Last year Ford made 189MM in Asia out of total automotive net income of 4,146MM, or a bit over 4.5% of net.
A loss there, especially for the year, can't be good.
At least this time there was some warning.
Let's see what analysts make of this. I'd guess they'll drop their predictions a couple of pennies.
Ford is the second largest U.S. manufacturer of motor vehicles with $129 billion in annual sales across the globe. North America still accounts for the largest percentage of revenues (57.9% of FY11), but the firm is strategically shifting focus to emerging markets. Geographic diversification in revenues by percentage of FY11 sales includes: United States (49.2%), Europe (26.5%), South America (8.9%), North America ex-U.S. (8.7%), and Asia Pacific Africa (6.7%).
Once investors dump on bad news they are slow to buy back in....Me for instance, i dumped 60% of my shares on the news, but haven't bought back yet, because i'm now waiting for the dust to settle......I