Stocks rose on Friday on better-than-expected results from companies including American Express and Ford as reassuring data on manufacturing and housing boosted hopes the recession is showing signs of abating.
Wall Street was set for a modestly higher open on Friday as investors found bright spots in a slew of earnings results, including a smaller-than-expected loss from struggling Ford Motor Co.
Ford Motor Co posted a smaller-than-expected first-quarter loss and said it was on track to at least break even in 2011 and did not expect to seek U.S. government loans, sending its shares up more than 22 percent.
Ford Motor Co posted a smaller-than-expected first-quarter loss on Friday amid the auto sector downturn and said it was on track to at least break even in 2011 and did not expect to seek U.S. government loans.
Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) is expected to post a large first-quarter net loss amid the global economic downturn that has pressured results in the United States, Western Europe and other developed economies.
If any of the big three U.S. automakers is forced to sell assets in a liquidation, their brands and patents may attract the most interest, while the manufacturing assets could be a tough sell.
Ford Motor Co said Tuesday it expects first quarter results to be lower, but shares jumped on as analyst upgraded the firm citing a brighter future.
Goldman Sachs upgraded the U.S. auto sector to
U.S. manufacturing bellwethers Caterpillar Inc and United Technologies Corp reported on Tuesday that falling global demand for their big-ticket products battered first-quarter results.
U.S. manufacturing bellwethers Caterpillar Inc and United Technologies Corp reported on Tuesday that falling global demand for their big-ticket products battered first-quarter results.
Two U.S. manufacturing bellwethers, Caterpillar and United Technologies, said on Tuesday that falling global demand for big-ticket products battered their first-quarter results.
General Motors Corp said on Monday it is telling about 1,600 salaried U.S. employees this week to leave by May 1 as it scrambles to reduce costs under a restructuring mandated by the U.S. government.
Top auto executives projected sales growth of up to 10 percent this year in China, but this lone bright spot among the world's major car markets is also producing ambitious potential rivals to the global auto majors.
Major Chinese auto group Chongqing Changan Auto Co is planning acquisitions overseas as it prepares to enter Europe and North America where the industry downturn has hit hard, its chairman said on Sunday.
Volkswagen AG may have overtaken Toyota Motor Co to become the world's top-selling carmaker in the first quarter, thanks to government incentives that fueled demand in VW's major markets.
Ford Motors shares were raise Monday after it planned to restructure its debt by 38 percent or $9.9 billion to bolster up its finance despite economic downturn and low demand.
Ford has always been a forerunner in the market of full-size trucks and vans.In terms of strength and durability in heavy-duty vehicles,Ford outraces its competitors.
As more and more car manufacturers offer both hybrid only cars (like the Prius) and hybrid versions of already popular cars (like the hybrid Honda Civic), more car buyers are looking to switch from their traditional gas-only cars to a hybrid.
President Barack Obama, saying he was committed to a strong U.S. auto industry, announced on Thursday the government would buy 17,600 new fuel-efficient vehicles from ailing American automakers by June 1.
President Barack Obama, saying he was committed to a strong U.S. auto industry, announced on Thursday the government would buy 17,600 new fuel-efficient vehicles from ailing American automakers by June 1.
As automakers unveil smaller electric cars and hybrids at the New York International Auto Show this week, Volkswagen’s President and chief executive insists the industry not only should develop those vehicles, but also improve fuel-efficient gas and diesel models.
General Motors Corp and Chrysler launched government-backed assistance programs for parts suppliers on Wednesday, and the task force overseeing the carmakers' restructuring was expected to meet with GM this week to speed up the process.