FORD EARNINGS: Ford Motor Co. earned $1.1 billion in the first quarter, excluding a big accounting gain. North American profits jumped 33 percent. They fell elsewhere because of the European debt crisis and slower sales in China.
WALL STREET REACTS: Ford's earnings, of 20 cents per share, missed analysts' expectations by 5 cents. The stock price fell 6 percent in premarket trading but improved once the company blamed the shortfall on one-time issues like Thai flooding and higher commodity costs.
FORECAST: The company is increasing North American production in the first quarter but cutting it elsewhere because of lower demand.