Why Ford Stock Is Down Today
Shares of Ford Motor Company (NYSE: F) were trading down on Wednesday, after the company previewed a series of one-time items it expects to report with its fourth-quarter earnings.
As of 1 p.m. ET, Ford's shares were down about 7.2% from Tuesday's closing price.
At first glance, Ford's preview, released after the U.S. markets closed on Tuesday, was good news. The company said it will report a fourth-quarter gain of $8.2 billion on its stake in Rivian Automotive (NASDAQ: RIVN), which went public late last year. Ford said it will also realize a $3.5 billion accounting gain from its annual pension-fund remeasurement, and a $3.6 billion tax benefit related to its global restructuring.
Source Fool.com
