FORD EARNINGS: Ford Motor Co.'s first-quarter net income fell 45 percent from a year earlier to $1.4 billion. Strong North American profits were offset by lower sales in Europe and Asia. The company also started paying a higher tax rate because it's more profitable.
WALL STREET SAYS: Ford earned 39 cents per share without one-time items. That beat the analysts' forecast of 35 cents per share, but Ford's shares still fell on investors' concerns about its outlook.
WHAT'S NEXT: The company announced it will offer lump-sum payouts to 90,000 white-collar retirees and former workers to try to reduce its pension obligations.