October 27, 2015 8:35 AM | 1 min read |
This story is still developing. Traders will be talking about their live reaction to Ford earnings on Benzinga's Premarket Prep.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
(NYSE: F) dropped over 3 percent in pre-market trading after the company reported weaker-than-expected earnings for the third quarter on Tuesday.The Dearborn, Michigan-based company posted quarterly net income of $1.9 billion, or $0.48 per share, compared to $1.1 billion, or $0.27 per share, in the year-ago period. After taxes, the company's earnings, excluding one-time items, came in at $0.45 per share. However, analysts were expecting earnings of $0.47 per share. The average estimate among 171 Estimize users was for earnings of $0.48 per share.In an email to Benzinga, a Ford spokesperson said, "We missed the street estimates because analysts did not listen to our tax rate guidance of 34 percent, which we communicated in 2Q. We came in at 33 percent and analysts calculated 32 percent."Its revenue rose $3.2 billion to $38.1 billion. Analysts projected revenue of $35.07 billion.Ford reaffirmed its pretax profit outlook of $8.5 billion to $9.5 billion for the full year. The company expects full-year profit margin in North America to be at the upper end of its prior outlook of 8.5 percent to 9.5 percent.The company's pretax profit in North America came in at $2.7 billion.Ford shares fell 3.76 percent to $15.09 in pre-market trading.
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