Ford Motor, Allscripts, Bank of America Among High Volume Stock Movers April 27th
Ford Motor Company (NYSE:F): Ford confirmed that its total company pre-tax operating profit is expected to be about equal to 2011. The company expects pre-tax operating profit in the second half to be slightly higher than the first half due to the cadence of its many product launches and capacity actions. The company also is on track to deliver strong Automotive operating-related cash flow for the year. Ford reported that its North America operation is expected to achieve significantly higher full year pre-tax profit and operating margin compared with 2011. Ford also continues to expect its South America operation will generate solid profitability for full year 2012, although lower than in 2011; new global products will be launched in the region that will positively impact results primarily in the second half of the year. At the same time, there is some uncertainty in the region, including new trade agreements, the details and impact of which are still being evaluated.
Allscripts Healthcare Solutions Inc (NASDAQ:MDRX): Allscripts overall option implied volatility of 38 is above its 26-week average of 35 according to Track Data, suggesting non-directional price movement into the company’s weaker than expected results, lowered guidance, and board room changes.
Bank of America Corp (NYSE:BAC): Charles Alexander, currently the head of Asia Pacific Corporate Banking at Bank of America Merill Lynch (NYSE:BAC), has been named as interim head of the bank’s China operations, reports the Wall Street Journal’s Deal Journal. Alexander fills the position that was previously held by Liu Erh Fei.
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