Why Ford Stock Is in the Fast Lane Today
General Motors (NYSE: GM) stepped on the accelerator, and Ford Motor Company (NYSE: F) is going along for the ride. Shares of Ford traded up as much as 5.3% on Tuesday after crosstown rival GM handily beat expectations.
It's a busy week for Ford. On Monday, the automotive giant announced it was cutting prices on its popular Mustang Mach-E electric vehicle, part of a plan to better compete with Tesla.
On Tuesday, it was news from General Motors that was giving Ford shares a push. GM earned $2.12 per share in the fourth quarter on revenue of $43.11 billion, easily topping analyst expectations for $1.69 per share in earnings on sales of $40.6 billion.
Source Fool.com
