Why Shares of Ford Are Rising Today
Shares of Ford Motor Company (NYSE: F) were moving higher on Friday, after the company warned that it lost about $2 billion in the first quarter and said it may tap the bond market to raise additional cash.
As of 1:15 p.m. EDT, Ford's shares were up about 4.5% from Thursday's closing price.
Ford had said on Monday that it expected to report an operating loss for the first quarter, but that it hadn't yet calculated its tax obligation for the period. Ford amended that statement in a filing with the Securities and Exchange Commission (SEC) on Friday, saying that it now expects to report a net loss of about $2 billion on revenue of $34 billion.
Source Fool.com
