Ford shares fall on bleak outlook
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Ford shares fall on bleak outlook
From: http://news.moneycentral.msn.com/pro...622&ID=4911339
"DETROIT (Reuters) - Shares of Ford Motor Co. fell nearly 5 percent on Wednesday after the automaker lowered its 2005 profit outlook for the second time in two months and said it would cut about 1,700 jobs as it faces weak U.S. vehicle sales.
The latest earnings warning follows a 12-month decline in Ford's U.S. vehicle sales and comes as Detroit's automakers, led by struggling General Motors Corp. , are trying to tackle some of their biggest challenges in decades, including mushrooming health-care and raw material costs, and increased competition from Asian automakers."
"DETROIT (Reuters) - Shares of Ford Motor Co. fell nearly 5 percent on Wednesday after the automaker lowered its 2005 profit outlook for the second time in two months and said it would cut about 1,700 jobs as it faces weak U.S. vehicle sales.
The latest earnings warning follows a 12-month decline in Ford's U.S. vehicle sales and comes as Detroit's automakers, led by struggling General Motors Corp. , are trying to tackle some of their biggest challenges in decades, including mushrooming health-care and raw material costs, and increased competition from Asian automakers."