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.