{"id":1649270,"date":"2022-09-20T13:51:40","date_gmt":"2022-09-20T17:51:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1649270"},"modified":"2022-09-20T13:52:11","modified_gmt":"2022-09-20T17:52:11","slug":"ford-tumbles-11-after-inflation-warning","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ford-tumbles-11-after-inflation-warning\/","title":{"rendered":"Ford tumbles 11% after inflation warning"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fford-tumbles-11-after-inflation-warning%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1649270&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Kannaki Deka and Noel Randewich<\/p>\n<p>(Reuters) -Ford Motor Co shares tumbled about 11% on Tuesday, a day after the automaker said inflation-related costs would be $1 billion more than expected in the current quarter and that parts shortages had delayed deliveries.<\/p>\n<p>The stock last traded at $13.33 and was on track for its deepest one-day decline since March 2020, when global markets reeled over the coronavirus pandemic.<\/p>\n<p>Ford\u2019s preliminary third-quarter results, released late on Monday, sent shares of rival General Motors Co down 4.4% as analysts said it might take more time for automakers to recover from chip shortages.<\/p>\n<p>\u201cIt appears that across the industry, chip and components shortages may be improving at a slower pace than anticipated,\u201d Deutsche Bank analyst Emmanuel Rosner said.<\/p>\n<p>In July, Ford said it expected commodity costs to rise $4 billion for the year.<\/p>\n<p>The Detroit manufacturer\u2019s warning comes less than a week after delivery company FedEx Corp withdrew its financial forecast due to slowing global demand.<\/p>\n<p>Ford\u2019s inflation troubles and FedEx\u2019s weak demand highlight the bind the Federal Reserve finds itself in ahead of the U.S. central bank\u2019s policy-making meeting on Wednesday.<\/p>\n<p>The Fed is widely expected to hike rates by 75 basis points in its battle against decades-high inflation. However, its aggressive monetary policy campaign has battered the U.S. stock market in recent weeks, with investors worried the Fed\u2019s measures could hobble the economy.<\/p>\n<p>Ford also estimated it would have 40,000 to 45,000 vehicles in inventory lacking parts.<\/p>\n<p>Ford, which is set to report third-quarter results on Oct. 26, affirmed 2022 adjusted earnings before interest and taxes forecast of $11.5 billion to $12.5 billion.<\/p>\n<p>It was unclear if chip and parts supply will normalize by the end of the year, Deutsche Bank\u2019s Rosner said.<\/p>\n<p>Ford\u2019s shares are down 36% in 2022, well over the S&#038;P 500\u2019s 19% decrease.<\/p>\n<p> (Reporting by Kannaki Deka in Bengaluru and Noel Randewich in Oakland, Calif.; Editing by Shounak Dasgupta and Richard Chang)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/file-photo-ford-motor-cos-logo-pictured-in-2019\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8J0SW-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8J0SW-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Kannaki Deka and Noel Randewich (Reuters) -Ford Motor Co shares tumbled about 11% on Tuesday, a day after the automaker said inflation-related costs would be $1 billion more than<\/p>\n","protected":false},"author":66,"featured_media":1889071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1649270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/ford-tumbles-11-after\/?utm_source=rss&utm_medium=rss&utm_campaign=ford-tumbles-11-after","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1649270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1649270"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1649270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889071"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1649270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1649270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1649270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}