Ford Motor Company (NYSE: F)
Ford was already having a rough time in the pre-market. However, minutes ago, our partners at Trade Ideas informed us that the stock was taking a bit of a dive. As soon as they did, we started digging to see why, and learned that the company has made the decision to slash guidance for Q1 earnings per share. At the moment (9:15), $F is trading at $11.48 per share after a loss of $0.29 per share (2.46%) thus far today.
$F Slashes Q1 EPS Guidance
As mentioned above, Ford Motor Company is taking a bit of a dive in the pre-market at the moment, and for good reason. The company announced that it has made the decision to cut guidance for the first quarter down quite a bit. In fact, $F has slashed guidance down to between $0.30 per share and $0.35 per share for first quarter earnings. Not only is this quite a bit lower than previous guidance, it is way off when we look at analyst estimates at $0.45 per share.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching $F incredibly closely. In particular, we’re interested in hearing why the company cut guidance, as this is still a breaking story and not many details are being offered. We’ll continue to follow the story closely and bring the news as it breaks!
Update 12:01: We’re starting to see some big activity here. 18 million shares just traded at $11.77.
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