Ford's stock is having its best day in a decade
Ford Motor Co. shares soared Friday toward the biggest one-day gain in a decade, after the car maker’s massive first-quarter earnings beat appeared to dispel worries about its ongoing restructuring effort.
Ford stock gained more than 10% in morning trade, on pace for their largest one-day percentage increase since April 24, 2009. The stock was headed for the highest close since July 25, 2018. “Ford put up one heck of a surprising upside Q1 beat ... coming from all the areas we actually expected to have been weak,” such as China and the Europe Union, Evercore analysts wrote.
Meanwhile, Ford disclosed earlier Friday that the U.S. Department of Justice had opened a criminal investigation into the company’s previously disclosed concerns involving the auto maker’s U.S. emissions certification process.
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