Ford cuts full-year profit outlook as third-quarter profit dips
Share:
DEARBORN, Mich. (Reuters) - Ford Motor Co on Wednesday cut its forecast for operating profit for the year after a disappointing third quarter that Chief Executive Jim Hackett blamed on higher warranty costs, bigger discounts and weaker than expected performance in China.Investors sold off Ford shares, which fell 2.5% to $8.98 in after-hours trading while shares in electric car maker Tesla Inc surged more than 20% on better than expected results.In a conference call with analysts, Hackett said..