Ford’s stock exceeds $10 after Volvo news

Ford Motor Co.’s jumped 21 cents to $10.11 per share in morning trading on Wednesday after the company announced that it expects to complete the sale of Volvo Car Corp. to Chinese automaker Zhejiang Geely Holding Group Company Limited during the second quarter of 2010.

It is the first time since October, 3 2005 that Ford’s stock has traded above the $10 mark. The stock price increase came hours after both Ford and Geely said they have reached an agreement on all major commercial issues.

However, Ford said, “some work still remains to be completed before signing – including final documentation, financing and government approvals.”

Read Full Article from Detroit Free Press

- Posted: 2009-12-23 10:53:23

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