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Ford CFO Sees Stock Drop as `Bizarre' After Doubling Profit

  • `I don't think we're peaking,' Bob Shanks says in interview
  • Analyst says `market punishing them unfairly' for small miss
Bloomberg business news

Behind Ford's Earnings and Stock Slump

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Ford Motor Co. will deliver “very strong results” over the next several years despite the selloff of its shares after third-quarter profit disappointed investors, the automaker’s chief financial officer said today.

While net income more than doubled to $1.9 billion from $835 million a year earlier, earnings of 45 cents a share, excluding some items, were below the 47-cent average of 18 analyst estimates. The miss drove Ford shares down 79 cents to $14.89 in New York. The 5 percent decline was the steepest in more than a year.