Ford Beats Q3 Forecasts, Guides 2017 Earnings High

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Ford (F) reported third-quarter results that topped consensus views and gave bullish guidance, two days after General Motors (GM) crushed quarterly estimates.

XAutoplay: On | OffEstimates: EPS to climb 27% to 33 cents while revenue dips 1.2% to $32.92 billion, as U.S. demand cools.

Results: EPS of 43 cents on revenue of $36.5 billion.

Outlook: Full-year EPS of $1.75-$1.85, above consensus views for $1.74.

Stock: Shares rallied 1.9% to 12.27 in premarket trading on the stock market today. Ford is forming a handle on a double-bottom base with 12.56 buy point. GM was quiet, after hitting a fresh post-bankruptcy high of 46.48 on Tuesday. Fiat Chrysler (FCAU), which reported mixed results Tuesday, rose 1.3% early Thursday.

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Ford, GM and the world's other auto giants are undergoing transformations as Tesla (TSLA) and Silicon Valley spur more competition in electric vehicles and autonomous driving.

GM has bought up self-driving startups, announced plans to eventually go all electric, and is pulling back from less profitable markets and models.

Earlier this month, Ford said it will shift toward high-margin trucks and SUVs and away from less-profitable cars, while slashing costs by $14 billion and investing more in electric vehicles. Ford also plans to add 13 EVs with a five-year investment of $4.5 billion.

While markets are bullish on GM's plans, lifting its stock accordingly, the same can't be said about Ford's plans, which have been met with more skepticism.

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