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
- ECRI Weekly Leading Index: "Disentangling Cyclical from Structural" | Financial Sense
- One Big, Fat, Ugly Bubble | ZeroHedge
- The Epidemic Of Bad Ideas | ZeroHedge
- George Soros faces backlash in Eastern Europe and Balkans | ZeroHedge
- Meanwhile In The Oval Office... | ZeroHedge
- America's Real 'Division' (Summarized In 100 Seconds) | ZeroHedge
- "And You Thought Mass Hysteria Was Over..." | ZeroHedge
The most relevant financial news and articles from the Internets
- Gregg Popovich says Wizards 'got off easy,' should... | Business Insider
- This is what it looks like when society collapses | Business Insider
- Trump: Phone call with Israel's Netanyahu was 'very... | Business Insider
- Matt Ryan's most memorable play of the year is one he didn't make | Business Insider
- Actress Ashley Judd became the breakout star of the Women's March on... | Business Insider
- Science says parents of unsuccessful kids could have these 6 things in... | Business Insider
- Batteries for Tesla and other electric car makers are getting cheaper | Business Insider