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Ford Motor Co. on Friday regained its status as No. 2 US automaker in terms of market value, leaving behind Tesla Inc. after mbadive gains that spurred the recovery of Ford shares.
Ford
F + 10.74%
Stocks were at their best since July and were the largest gain in a day in a decade, bringing the company's market valuation to about $ 40.7 billion on Friday night.
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TSLA, -5.04%
The shares traded at their lowest level since January 2017, still in shock from the larger-than-expected first-quarter loss announced earlier this week by the company. This brought Tesla's market capitalization to around $ 40.6 billion.
See also: Ford's shares rose the most in 10 years after the mbadive first-quarter record
General Motors Co.
GM + 1.46%
is the world's largest US $ 56 billion market capitalization.
GM must release its first quarter results Tuesday before the bell. Analysts surveyed by FactSet expect the company to publish adjusted earnings of $ 1.11 per share for a business turnover of $ 33.6 billion
Ford announced Thursday an adjusted earnings per share that has far exceeded Wall Street expectations and sales in line with expectations.
In addition, he showed that his restructuring efforts, long criticized on the street, were bearing fruit and once again underlined his strong portfolio in North America.
Read more: Tesla's earnings have been a "debacle", says a long-time bull in a burning comment
Tesla's first quarter results have been dubbed "debacle", to name one of an badyst's adjectives. Wall Street remains concerned about the decline in margins and demand, as well as the health of the company's balance sheet following the decline in cash as a result of the payment of a convertible bond in March.
Tesla released Wednesday night an adjusted loss of $ 2.90 per share for a business turnover of $ 4.5 billion, while it was expected an adjusted loss of $ 1.15 per share for sales of $ 5.4 billion.
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