second quarter results

DETROIT, MI (AP)--   Ford Motor Co. has surprised Wall Street by posting a $1.12 billion second-quarter net profit due to gains on its stake in the Argo AI autonomous vehicle operation. 

Without the $3.5 billion gain, the company lost $1.9 billion before taxes, or a 35 cents per share. That beat Wall Street expectations of a $1.17 per-share loss.

A year ago, Ford posted a $148 million net profit. Revenue was down by about half from a year ago to $19.37 billion, which narrowly beat estimates, according to FactSet.

 

CLEVELAND, OH--   Cleveland-Cliffs, Incorporated reported record high sales volume in the second quarter of 2019.

In results released Friday CCI says Mining and Pelletizing pellet sales volume in the second quarter of 2019 was 6.2 million long tons, a 4 percent increase from the prior-year quarter on strong customer demand.