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FORD MISSES Q4 PROFIT ESTIMATES, STOCK FALLS BELOW MA5 - Capital Street FX
FORD MISSES Q4 PROFIT ESTIMATES, STOCK FALLS BELOW MA5
In the Premarket trading session on Thursday, Ford Motor’s stock was trading at 8.35- higher by 0.12% as compared to its previous close.
The company reported fourth-quarter earnings after the market closed on Wednesday. The automaker’s reorganization plans showed up in its fourth-quarter earnings as pension and layoff costs eroded the company’s profit and caused it to miss earnings estimates. Ford, however, posted stronger-than-expected sales.
The company generated adjusted EPS of 30 cents for the fourth quarter. The EPS was below the consensus estimates of 32 cents. Ford brought in $38.7 billion in automotive segment revenue for the fourth quarter. The revenue was above the market expectation of $36.88 billion.
The automaker lost money in every global region except North America, and last week provided a downbeat 2019 outlook along with preliminary fourth-quarter numbers.
On the technical front, the current price is below the MA5. The current price is above the middle line of the Bollinger Bands but is heading downwards. The current price is above the MA20. The stock is expected to trade lower today.
TRADE SUGGESTION- LIMIT SELL AT 8.39 TAKE PROFIT AT 8.24 STOP LOSS AT 8.47