No Longer a Nine Dollar Stock
Congrats to those that listened to us when we were pimping Ford Motor Co. (F) at $9.09. Today is was one of the few stocks that advanced amongst a day of recovery after the destruction of Hurricane Sandy.
We talked up Ford in July and made it explicit when we said 'Ford could be the ideal pick for your IRA'. Ford Motor shares rallied 8% today and closed at $11.16. Since our recommendation on Ford the stock has bounced back 18.5%, which is huge for a stock that traded under $10 at the time.
Now that trading has resumed the Street rewarded Ford of its best Q3 performance -- ever. Pre-tax profits came in at almost $2.2 billion in Q3 2012. There are still concerns with its amazing CEO Alan Mulally, after all, how much longer will he stick around? Europe is a ongoing concern, how much longer will it take for a turnaround, and will it ever occur?
Here's what we do know:
In North America Ford had pre-tax revenue of over $2.3 billion. That marks a huge increase from the $1.55 billion earned in Q3 2011. As of September 30, Ford's North American operations had generated nearly $6.5 billion in pre-tax revenue for the year, which is bigger than its pre-tax figure for all of 2011. Ford credits these numbers to its strong product lineup and brisk sales.
Say what you will of Ford but keep in mind they never took a bailout and have kept the American dream alive. Despite its 18% increase in share price since our recommendation Ford still packs a 1.79% annual dividend yield.
Ford Motor Charts:
Best of the Blogs
Scanning and identifying the best blog entries every hour
- This Is The NIRP "Doom Loop" That Threatens To Wipeout Banks And The Global Economy | ZeroHedge
- Central Banks Are Trojan Horses, Looting Their Host Nations | ZeroHedge
- What Kind of Power Will China Become? | Financial Sense
- The Crash In US Bank Stocks Is Only Half-Way Through | ZeroHedge
- WTI Crude Pumps'n'Dumps Back To $26 Handle After Saudi Headlines | ZeroHedge
- Move Over Greece, It's Italy's Turn - George Friedman Sounds the Alarm on European Banking Crisis | Financial Sense
- HSBC Cancels Pay Freeze After Two Weeks Following "Staff Revolt" | ZeroHedge
The most relevant financial news and articles from the Internets
- No, J.K. Rowling isn’t writing another 'Harry Potter' book —... | Business Insider
- This Air Force general passing out during an F-35 brief... | Business Insider
- John Paulson has a big new bet | Business Insider
- A major Xbox One exclusive is coming with a bunch of great, free games... | Business Insider
- BMW just unleashed its second 600-horsepower luxury limo in a week | Business Insider
- Cliven Bundy was just charged for his 2014 standoff in Nevada after getting... | Business Insider
- That time a Navy squadron bombed North Vietnam with a... | Business Insider