Ford Motor Company (F), a leading automaker selling cars and trucks worldwide, has revealed its fourth quarter performance to investors. Net income of the company increased to $13.6 billion, translating to $3.40 per share, as against $190 million, or 5 cents per share, during the same quarter a year ago. Although the yearly revenue only rose by 6%, equaling to $34 billion and the stock missed some estimates, this definitely marks a meaningful increase in its previous year performance.
According to Alan Mulally, President and CEO of Ford, management has delivered strong results for the entire year and has continued to serve its customers across the globe with high-class vehicles and attain progress with its mid-term goals and objectives.
Ford is currently trading slightly below $13. The acid test should occur at $15, when the stock would either form a mid-term uptrend, targeting the 10-year high $18.65, or drop back, forming a head-and-shoulders technical pattern.