Ford hit by special charges

Article Excerpt

FORD MOTOR CO. $11 is still a hold. The stock (New York symbol F; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 3.9 billion; Market cap: $42.9 billion; Price-to-sales ratio: 0.3; Dividend suspended in March 2020; TSINetwork Rating: Extra Risk; www.ford.com) has jumped 30% since the start of 2021 on positive reviews for its new electric-powered vehicles, including its Mustang sports car and F-150 pickup truck. However, the company will book over $2.1 billion in charges against its 2020 earnings. They include a $1.5 billion one-time loss related to its pension funds as the holdings inside those plans are adjusted to reflect their current market value. Ford is also recalling 3 million vehicles to fix defective airbag inflators made by Japanese supplier Takata. That will cost $610 million. Ford Motor is a hold. hold. …