The Ford logo
Justin Sullivan/Getty Images
A day after the Ford Mustang social media account teased an announcement, Ford (ticker: F) issued another news release early Thursday.
“Ford will make a major economic announcement this morning at 9:00 a.m. [eastern time] on how it’s continuing to transform its global automotive business,” read part of the release.
A conference call will follow the announcement at 10:30 a.m. It will also be available to watch on YouTube.
Investors will wait with baited breath. The Mustang announcement Wednesday was about a new black trim package for Mustang vehicles. It wasn’t a big deal for the stock.
Ford shares rose 1.3% in premarket trading Thursday.
Dow Jones Industrial Average
futures gained 0.6% and 0.5%, respectively.
Coming into Thursday trading, Ford stock has fallen about 35% this year, worse than the 14% comparable drop of the S&P 500. Inflation and rising interest rates have hit automotive stocks hard. Investors are worried high inflation will squeeze profit margins while rising rates will cool demand for new cars.
Write to email@example.com