Morgan Stanley analyst Adam Jonas said Ford may be making a change at the top too late to stop the slide in its earnings this cycle, but it's not too late to reposition the firm for the next decade. The analyst, who expects other departures or reappointments to follow the appointment of Jim Hackett as CEO, added that the move "suggests a difficult time and a healthy sense of urgency." Jonas, who also thinks the company's earnings situation may get "materially worse before it gets better," keeps an Underweight rating and $10 price target on Ford shares.

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