Goldman Sachs analyst Patrick Archambault downgraded Ford to Neutral saying share outperformance over the next 6-12 months will be difficult following the carmaker's weaker than expected Q2 results and profit warning for 2016. A "strong product cycle" in trucks has not protected Ford from a "more difficult pricing environment," Archambault tells investors in a post-earnings research note. He cut his price target for the shares to $13 from $15. The stock closed yesterday down $1.13, or 8%, to $12.71.

Ford is recalling over 456,000 Bronco Sport and Maverick vehicles due to a battery detection issue that can result in loss of drive power, increasing the risk of a crash, Wyatte Grantham-Philips of The Associated Press reports, citing documents published by the National Highway Traffic Safety Administration. The recall covers about 403,000 model year 2021-2024 Bronco Sports produced between February 2020 and March 2024, as well as more than 53,000 model year 2022-2023 Mavericks manufactured from February 2021 to October 2022, according to the report. A Ford spokesperson confirmed to The Associated Press Wednesday, that the software update should arrive by later in the second quarter, commenting that "safety is a top priority, and we are taking proactive measures to address this issue promptly and effectively." Reference Link