Ford financial woes ease as profits boost Wall Street
It seems the pressure of the Global Financial Crisis may be easing, at least where Ford Motor Company is concerned.
The New York Times have reported yesterday that Wall Street stocks rose in hesitant trade the night prior after a surprise profit reported by Ford boosted market sentiment.
Ford's third-quarter profit of US$997 million (AUD$1,103 million), and comments that it was on track to become "solidly profitable", led Mr Douglas McIntyre of 24/7 Wall Street magazine to refer to the United States' number two manufacturer as "a little miracle."
"Almost no one thought Ford could make money in North America -- except Ford," said Mr McIntyre.
Ford rose 8.29 per cent among key stocks after the announcement yesterday surprised analysts expecting another loss from the manufacturer.
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