Ford Motor (F) NewsBite - F Rises on CEO's Comments

Posted: Wednesday, September 23, 2009 10:00 AM EDT

Ford Motor (NYSE: F) opened at $7.20. So far today, the stock has hit a low of $7.18 and a high of $7.39. F is now trading at $7.39, up $0.38 (5.42%). Over the last 52 weeks the stock has ranged from a low of $1.01 to a high of $8.86. F shares are on the move this morning after company CEO Allan Mulally said the company is expecting US auto sales to rise over the next two years as the global economy recovers from the current downturn. He also reiterated his belief that the company will return to profitability in 2011. Technical indicators for the stock are neutral and S&P gives F a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on F the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 6 range. [ABR-Seven Summits Strategic Investments NewsBite]

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