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Ford beat expectations with a first quarter 2011 net income of $2.6 billion, an increase of $466 million from the first quarter 2010. First quarter 2011 pre-tax operating profit was $2.8 billion. Ford Credit contributed $713 million to the pre-tax operating profit.
J.P. Morgan analyst Himanshu Patel called the Ford Credit results “unsustainable.” Patel had expected $428 million. He thinks the number reflects stronger-than-expected lease residuals. Which is good news if you own a Ford and want to sell it.
With a pretax operating profit of $293 million in Europe, Ford solidified its position in the Old Country. Ford reduced its debt by $2.5 billion in the quarter to $16.6 billion.
19 Comments on “Ford Brings In The Q1 Bacon...”
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Thumbs up to the Blue Oval Boys.
Hold the party. Wall Street was not impressed with Ford. Stock closed up a big twelve cents today. If Wall Street is not impressed, neither should you.
Those geniuses who didn’t see the housing bubble, the ones who had to be bailed out to the tune of a trillion or so dollars? THose guys? I’m not impressed with you if that’s the best you can come up with.
Wall Street never imagined how many left wing types would do the immoral thing and walk away from debt. But, not all is lost. Most corporations will not hire scum that walk away from debt obligations.
What are you talking about? Left wing scum suprised Wall Street? When Wall Street is rigging the game in their favor, Privatize profits and socialize losses? I would sooner trust any of your so-called left wing scum than a partner at Goldman Sachs.
“Wall Street never imagined how many left wing types would do the immoral thing and walk away from debt.”
Bullcrap. Wall Street was dumb enough and greedy enough to swallow the completely f**ked ‘mortgage investment vehicles’ that the even greedier Goldman Sachs put together. Wall Street was screwed by its own immense greed, not the poor ‘left wing’ b*stards who got stuck in a negative equity trap with vastly overpriced homes that were barely worth the plywood they were built out of.
Wall Street never imagined how many left wing types would do the immoral thing and walk away from debt.
Seriously? Like a right winger never went into foreclosure? My neighbor sure as hell did…had to take down his Tea Party flag, load up his “Obama is a communist”-festooned SUV with all his stuff, and hit the road.
Go away and leave the political talk for the grown ups, would you?
Wall Street never imagined how many left wing types would do the immoral thing and walk away from debt
Donald Trump?
“Wall Street never imagined how many left wing types would do the immoral thing and walk away from debt.”
The majority of the people who have the ability to pay their mortgages but are using “strategic defaults” to skip out on them are in fact high income people with expensive homes. As a rule, that demographic trends Republican, not “Left Wing, blah, blah, blah”.
High-income people are not overwhelmingly Republican in places like California and New York – which are where the housing bubble inflated the most, and people thus have a stronger motivation to default on a mortgage.
Chances are Ford’s stock price already reflected the good Q1 number. It’s $1 higher now than one week ago.
Ford stock is down on the year. Wall Street is not buying the “Ford Superstar” story.
Same thing happens whenever Apple reports record-shattering numbers – the stock either doesn’t move much or goes down. Yet look who’s the darling of the tech industry and has multi-billions of cash reserves.
Apple reported on 4/21, and it’s stock opened up north of 10 points and held most of that.
jj99, give up you’re not being laughed with, you’re being laughed at.
Yeah, because the day and high frequency traders who dominate daily activity in the markets are so, so wise!
Maybe investors are concerned about Ford being the likely UAW strike target and that these high earnings might not last. It’s hard to get excited about investing in a car company with gas prices headed toward $5.00 with no relief in sight–we saw what happened in 2008.
You, sir could teach righty tighty jj99 a lesson, one that’s not printed in Consumer Reports, or endorsed by the Cato institute. As good as Ford is doing, there are a lot of hurdles in the way. High gas prices and the continued down economy are no doubt part of why the criminals on Wall Street are not singing the praises. I hope that changes soon as I want to cash in my $3 and change Ford purchase for a nice convertible…and I’d like to get it this summer…
Rebecca (I love the sound of my own voice) Lindland…..As Foghorn Leghorn would say,”I’ve seen better heads on a glass of root beer”.