Ford ends day at 3-week high thanks to Toyota talk
Ford Motor Company was quick to issue a brief statement regarding the meeting that took place between its CEO, Alan Mulally, and executives from Toyota last week in Japan in order to quell speculation of an alliance or partnership, but news of the meeting had a very positive effect on the Blue Oval's share price today, which rose to a three week high of $7.59, up about 1.3 percent or 10 percent compared to yesterday. Ford's stock began to rise around noon yesterday as news of the meeting began to spread. Wall Street is likely reacting to the prospect that any collaboration with Toyota could result in some much needed cost-cutting at Ford. Tomorrow will tell us whether Ford's stock deserves to be flirting with $7.60, but for the time being the idea that our own Blue Oval could be in cahoots with the Japanese Juggernaut has investors curious and hopeful.
[Source: Reuters]
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Reader Comments (Page 1 of 1)
Roger Dodger 9:54PM (12/27/2006)
Wall Street goes nuts over (any hint) of M&A, that's where all their bonuses came from.
I would love to see Toyota pick up Mazda, with its great engineering abilities (and Toyota needs proven engineers for their rapid worldwide expansion).
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Mark 8:32PM (12/27/2006)
. heller, ford, uuuuuuuuuuuu need 2 find another partner okkkkkkkk.
FORD........IT'S FIX OR REPAIR DAMAGED
HOW MANY TIMES I REPAIRED MY CAR.....
don't even try to be a patner
I will try 2 talk will all altisclubzz.com not letting to be partner
You will face a .......... fist
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aaron 10:56PM (12/27/2006)
in other news toyota hit an all time high today. You guys miss that? As roger dodger says, wall street loves that news.
mark, might want to put the paint chips away. retard.
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Andy 11:59PM (12/27/2006)
Mark should enlighten me on what a "patner" is. This Ford/Toyota partnership is all hype. No one is taking this seriously.
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Roger Dodger 12:54AM (12/28/2006)
Toyota's market capitalization is now more than 240 billion $$$$.
By the end of 2007, I think it will go over 300 billion.
http://www.marketwatch.com/tools/quotes/quotes.asp?symb=tm&siteid=mktw&dist=mktwqn&sourceid=mozilla-search
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