The Good, the Bad and the Ford

More good news from the tech sector as Ebay, Qualcomm and Nokia all posted better than forecast earnings. Ebay even raised their outlook for the next quarter and the full year. They also announced the buyback of $1- billion in stock. Chip maker Qualcomm also posted better than expected earnings and raised their guidance. Expect Nasdaq to do well today.

The blue chippers may not fair as well on the NYSE as Ford reported a record loss of $12.7 Billion, that’s right BILLION loss for the quarter. Boy if I lost even half that my bank would have me shot. Ford got stuck with a high reliance on trucks when high gas prices hit and sent consumers running to buy smaller cars. Although the margins are high on trucks, you can’t realize the profits unless you sell the trucks. It will be interesting to see what Wall Street thinks of all this.