: Ford books $8.2 billion fourth-quarter profit on Rivian investment

January 18, 2022

Ford Motor Co. said late Tuesday it has realized a $8.2 billion gain in the fourth quarter related to its investments in Rivian Automotive Inc. following the electric-vehicle maker’s November initial public offering.

Ford
F,
-3.22%
and Rivian
RIVN,
-8.49%
shares rose modestly in the extended session after the news.

Ford said it was detailing special items ahead of its early February fourth-quarter earnings. The items will be reported as GAAP net income and EPS, but excluded from non-GAAP adjusted earnings and EPS, the car maker said.

Futurist Eric Fry says it will be a “Summer of Surge” for these three stocks

One company to replace Amazon… another to rival Tesla… and a third to upset Nvidia. These little-known stocks are poised to overtake the three reigning tech darlings in a move that could completely reorder the top dogs of the stock market. Eric Fry gives away names, tickers and full analysis in this first-ever free broadcast.

Watch now…