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Twitter co-founder Evan Williams steps down from board

6 hours ago

Twitter Inc. co-founder Evan Williams is leaving the social-media company's board, according to a Friday filing with the Securities and Exchange Commission. "It's been an incredible 13 years, and I'm proud of what Twitter has accomplished during my time with the company," Williams said in a prepared statement. "I will continue rooting for the team as I focus my time on other projects." Williams's departure is effective at the end of the month, Twitter disclosed. Twitter's stock closed with a 3.1% gain Friday, but has declined 1.3% in the past 12 months, as the S&P 500 index has gained 2.6%.

Dow reclaims 26,000 and ends at 3 1/2-month peak as stock market levitates on tariff hope

7 hours ago

U.S. stocks finished near their best levels on Friday, with the marking its loftiest close since early November amid continuing hopes for a trade deal between the U.S. and China. The Dow Jones Industrial Average rose 181 points, or 0.7%, at 26,032, the S&P 500 index advanced 0.6% to finish at 2,793, while the Nasdaq Composite Index closed up 0.9% at 7,528, on a preliminary basis. It was the ninth straight weekly gain for the Dow and the Nasdaq, marking the first time since 1964 that the indexes rose in the first 8 weeks of a calendar year. The newfound buoyancy for stocks after a bruising December is largely pegged to softening from the Federal Reserve, who effectively put its interest-rate policy on hold, while growing hopes that Beijing and Washington can strike a tariff pact also are bolstering market optimism, at the moment. All three equity benchmarks finished at their highest levels since Nov. 8. On Friday, President Donald Trump described negotiations with Chin as having a "very good chance" of resulting in a deal, emphasizing that a a March 1 deadline for imposing new sanctions could be extended. In corporate news, shares of Kraft Heinz Co. sank 27.5%, representing its worst decline on record after a number of disclosures.

Wayfair stock soars after earnings, but Wells Fargo wonders whether it's sustainable

7 hours ago

Wayfair Inc. shares soared more than 28% in Friday trading after the online home retailer reported better-than-expected fourth-quarter earnings, but Wells Fargo analysts aren't sure the company can maintain those results. "U.S. profits are expected to turn sharply negative in Q1 (by about $27 million), visibility remains very low, and international losses continue to widen," analysts wrote in a note. Wells Fargo rates Wayfair shares market perform with a $145 price target. CFRA is more optimistic, particularly about Wayfair's international business. It maintained its hold stock rating and raised its price target to $150 from $100. "We see further strides with international expansion in Canada, the U.K., and Germany. Wayfair seems primed for its 2nd annual "Way Day" promotional sales event, likely to take place sometime this spring," Tuna Amobi wrote. Wayfair stock has rallied 103% over the last year while the S&P 500 index is up 3.1% for the period.

U.S. stocks edge off highs amid doubts on China trade progress

8 hours ago

U.S. stocks retreated from the highest levels of Friday as headlines from wire services of President Donald Trump's Oval Office comments suggest doubt on progress on U.S.-China trade talks. In a letter written by Xi Jinping and read out by Trump, the Chinese leader said he hopes the two sides "redouble efforts to meet half way." Trump meanwhile said perhaps he and Xi will work out the final points or perhaps not. U.S. Trade Representative Robert Lighthizer said a few "very big" hurdles remain. The Chinese delegation will stay two additional days, Treasury Secretary Steven Mnuchin said.

U.S. oil settles higher, carves out nearly 3 1/2-month peak as China tariff talks progress

8 hours ago

Crude-oil futures rallied Friday to a high of more than three months, with gains padding the commodity's weekly advance, as U.S. equities and other assets found traction against the backdrop of upbeat U.S.-China trade talks. April West Texas Intermediate crude gained 30 cents, or 0.5%, to finish at $57.26 a barrel, marking its highest finish since Nov. 12, according to FactSet data. For the week, WTI booked a roughly 3% gain. The oil market had finished lower Thursday after a U.S. government report revealed that domestic supplies climbed for a fifth straight week as production jumped to a record level, but ongoing evidence of declines in world-wide output capped price losses for the session. On Friday, for example, Baker Hughes weekly rig-count data showed the rigs drilling for oil edged back by four to 853. News reports said President Donald Trump would meet with China's top trade negotiator, Vice Premier Liu He, which has underscored optimism that a deal between China and the U.S. will strike a trade deal soon. China is a big importer of oil and its tiff on tariffs with Washington has been a drag on the commodity until recent signs of progress on talks emerged.

Gold ends higher as dollar stumbles, metal registers second straight weekly gain

9 hours ago

Gold futures settled higher Friday as the dollar weakened, with bullion booking its second straight weekly gain, a day after the metal's largest one-day drop since August. April gold finished up $5, or 0.4%, at $1,332.80 an ounce, which helped it produce a weekly gain of 0.8%, according to FactSet data. The advance for the metal and the broader commodity complex has come amid apparent progress in talks between the U.S. and major natural resource importer China. Meanwhile, the dollar, as gauged by the ICE U.S. Dollar Index -- a measure of the buck against a half-dozen rival currencies -- was edging 0.2% lower at 96.44. A weaker U.S. unit can help commodities that are pegged in the currency climb.

Fed's Quarles: Might be best if balance sheet matches maturities of outstanding Treasurys

9 hours ago

The Federal Reserve might want the composition of its balance sheet to match the maturity composition of outstanding Treasury securities, said Federal Reserve Vice Chairman for Supervision Randal Quarles on Friday. The ultimate composition of the balance sheet is one of the key remaining unknowns about the central bank's plans for its $4 trillion balance sheet. The central bank signaled it intends to end the shrinking of its asset holdings would end this year. Many Wall Street economists had assumed the Fed might try to shorten the duration of its asset holdings so the central bank had room to lower long-term interest rates through purchases if the economy fell into recession. Quarles said a balance sheet that mirrors the composition of outstanding Treasury bills, notes and bonds would "minimiz[e] any market distortions that could arise from our holdings."

IGC's stock more than triples on heavy volume after winning appeal to re-list on NYSE

9 hours ago

Shares of India Globalization Capital Inc. , also known as IGC, more than tripled--up 234%--in very active afternoon trade Friday, to trade above the $1 mark for the first time in three months, after the company said its stock will re-list on the NYSE's American exchange next week after it won its appeal. Trading volume swelled to $8.6 million shares, compared with the full-day average of about 253,000 shares. The cannabis company's stock has been trading over the counter since the exchange's decision on Oct. 29 to delist the stock. Prior to its October de-listing, MarketWatch had written a story that outlined series of concerns with the company's claims and businesses. IGC's stock has now gained 85% over the past three months, while the ETFMG Alternative Harvest ETF has rallied 23% and the S&P 500 has tacked on 5.2%.

Kraft Heinz's credit outlook revised to negative at S&P

10 hours ago

Kraft Heinz Co.'s credit rating outlook was revised to revised to negative from stable Friday at S&P Global Ratings, following the packaged food company's disappointing fourth-quarter results, lowered dividend and the receipt of subpoena from the SEC. The credit rating agency said it could downgrade Kraft Heinz over the next 12 to 24 months if its business continues to falter, an inability to control costs, or if its credit ratios don't improve. The rating could also be lowered if the ongoing SEC investigation uncovers material accounting misstatements, internal control problems or other accounting irregularities. S&P kept its long-term rating on Kraft Heinz at BBB, which is two notched above "junk" status. Kraft's stock plummeted 27% in midday trade, on track for a record low and biggest-ever one-day selloff. It has plunged 48% over the past 12 months, while the S&P 500 has gained 3.2%.

New England Patriots owner Robert Kraft arrested for soliciting a prostitute in Florida

10 hours ago

Robert Kraft, the owner of the Super Bowl-champion New England Patriots, has been arrested in Florida for soliciting a prostitute, the Jupiter, Fla., police department said Friday. The arrest, which included some 25 "johns," was part of a bigger operation to uncover human sex trafficking that included the facility used by Kraft, the police said. But the NFL owner was not, as of Friday, linked to that trafficking operation. Police said Kraft was involved in two incidents in the last month at the Orchids of Asia Day Spa in Jupiter and there is video evidence showing the Patriots owner in the act, the CBS affiliate in Boston reported. A spokesman for the Patriots owner said "we categorically deny that Mr. Kraft engaged in any illegal activity. Because it is a judicial matter, we will not be commenting further."

Dow retakes perch above 26,000 for first time in about three months as stock market extends rally

11 hours ago

The Dow Jones Industrial Average rallied Friday morning, along with the other main benchmarks, as investor held out hopes for a trade deal between the U.S. and China before a March deadline.The Dow rose 180 points, or 0.7%, to 26,032 and hit an intraday high at 26,047. A trade above 26,00 would mark the benchmark's first since Nov. 8, according to FactSet data. Markets have been rebounding off the lows from December, and hope for a resolution of tariffs and a Federal Reserve that has said it would be patient with normalizing monetary policy have helped to support buying. Both the Dow and S&P 500 are up more than 19% from their Dec. 24th nadirs, while the Nasdaq Composite Index has advanced more than 20%, thus far in the year, at last check.

Ultra Clean stock heads toward worst day since 2017 after earnings

12 hours ago

Shares of Ultra Clean Holdings Inc. are down 17% in Friday morning trading and on pace for their worst single-day performance since October 2017 following the semiconductor-equipment company's earnings report. The company reported revenue that was slightly above expectations and fell short of the earnings consensus with its Thursday-afternoon report. Ultra Clean also delivered an adjusted EPS forecast of 9 cents to 19 cents for the first quarter. Analysts surveyed by FactSet project 16 cents in adjusted EPS for the period. "Reflecting what many of UCTT's peers and OEM customers have already reported, UCTT expects the [wafer fab equipment] spending environment to remain challenged in 2019," wrote Needham's N. Quinn Bolton. "Management expects weakness in WFE spending to continue throughout the year." He maintained a buy rating on the stock and is encouraged by the company's focus on cost control. Shares are still up 17% over the past three months, while the S&P 500 has gained 5.1%.

Fed's Williams says Phillips Curve linking inflation to employment is 'alive and kicking'

12 hours ago

The relationship between employment and inflation known as the Phillips Curve is "alive and kicking," said New York Fed President John Williams on Friday. The Fed has traditionally been worried that low unemployment will lead to rising inflation. Because there have been no signs of inflation over the past few years, even though the unemployment rate has been so low, has led many economists to start to doubt this relationship, known by the "Phillips Curve" shorthand. In a speech at a forum on monetary policy, sponsored by the University of Chicago Booth School of Business, Williams said that the data shows the Phillips Curve correlation still exists, particularly if you exclude some goods and use mainly services prices. Williams said the central bank must be "vigilant" about inflation moving up or down and how the public expects inflation to behave over the longer term. Not only should the Fed worry about higher inflation, it must be alert to declining inflation expectations, he said. Williams said the Fed should review its 2% inflation target to make sure it takes account for expectations moving in both directions.

Dow climbs at the open, on track for 9th straight weekly gain amid China trade talks

13 hours ago

Stock benchmarks opened higher Friday morning, set to extend a weekly uptrend for equities, with President Donald Trump scheduled to meet China's top trade negotiator, Vice Premier Liu He, later in the session. The Dow Jones Industrial Average gained 105 points, or 0.4%, at 25,954, the S&P 500 index climbed 0.3% to 2,782, while the Nasdaq Composite Index advanced 24 points, or 0.3%, to reach 7,484. The Dow and Nasdaq are on pace for a streak of nine consecutive weekly gains, while the S&P 500 is on track to book its fourth straight weekly rise. Talks between Beijing and Washington are intended to avoid an increase in tariffs on some $200 billion in Chinese imports to 25% from 10%, set to occur on March 2, at 12:01 a.m. In corporate news, shares of Kraft Heinz Co. were down more than 26% after the food company late Wednesday reported weaker-than-expected fourth-quarter results, slashed its dividend and revealed an accounting investigation that resulted in a subpoena from the Securities and Exchange Commission.

Sears launches Craftsman Ultimate Collection of tools

13 hours ago

Sears Holdings Corp. has launched Craftsman Ultimate Collection, a line of tools for mechanics that includes high-performance ratchets and ratcheting wrenches, and other items. The items are available exclusively at Sears stores, on its website, and at Sears Hometown locations. The Craftsman Ultimate Collection is available as a 104-piece mechanic's set for about $320, as a 302-piece mechanic's set for about $1,000, or in other sizes. Sears shares are up 4.5% in Friday trading, but down nearly 50% for the past 12 months. The S&P 500 index has gained nearly 3% over the last year.

Diplomat Pharmacy's stock plunges after postponing earnings release on expected PBM-related charge

14 hours ago

Shares of Diplomat Pharmacy Inc. tumbled 20% toward a record low in premarket trade Friday, after the provider of specialty pharmacy and infusion services said it will postpone the release of its fourth-quarter results by about three weeks after determining it will need to book an impairment charge related to its pharmacy benefit management (PBM) business. The Q4 report was previously expected to be released after the Feb. 25 close. The company said the charge is expected to represent a "significant portion" of the PBM's goodwill and definite-lived intangible assets, which total about $630 million as of Dec. 31. The charge relates to the acquisitions of NPS and LDI in 2017 and is driven by reduced financial forecasts for the PBM business. The company still expects 2018 revenue of $5.5 billion to $5.6 billion but has withdrawn its preliminary 2019 outlook. The stock has dropped 41.5% over the past 12 months while the S&P 500 has gained 2.6%.

Roku downgraded to neutral at Wedbush after earnings

14 hours ago

Wedbush analyst Michael Pachter downgraded Roku Inc. shares to neutral from outperform on Friday, a day after the streaming company reported better-than-expected results for its December quarter. Pachter is concerned about spending trends at the company. "Roku has built an exceptional platform on the back of its players, and now as it expands in the rapidly growing smart TV category, has positioned itself as best in class for over-the-top advertising and is poised for international expansion," he wrote. "That said, we lowered our long-term EPS estimate on a lower operating margin assumption, given a greater likelihood of higher spending levels than we previously modeled." Pachter doesn't anticipate meaningful contributions from international expansion until at least 2020, though he said the company "is spending handsomely to expand its international presence." He wrote that the company is also spending up on advertising improvements as well as feature and content enhancements for the Roku Channel. Roku shares are up 5.5% in premarket trading Friday, and they've gained 28% over the past three months. The S&P 500 has gained 4.7% in that time.

Achieve Life Sciences' stock rockets on heavy volume after update results of smoking-cessation drug trial

14 hours ago

Shares of Achieve Life Sciences Inc. rocketed 73% to pace all premarket gainers in active trade Friday, after the company reported upbeat results from a trial of its smoking-cessation drug. Trading volume reached 1.8 million shares ahead of the open, compared with the full-day average of about 151,000 shares. The company said it evaluated repeat doses of cytisinicline in 26 healthy volunteer smokers, who smoked an average 17.2 cigarettes a day. By the 26th day of treatment, there was an averag80% reduction in cigarettes smoked, 82% reduction in expired carbon monoxide and 46% had stopped smoking. Cytisinicline was well tolerated, with only "transient, mild-to-moderate headache" as the most common adverse event. "Given the short 25-day treatment period, the abstinence rates observed are impressive, particularly since subjects were not required to commit to quitting and received minimal behavioral support during the study," said Chief Medical Officer Cindy Jacobs. The stock has tumbled 87% over the past 12 months through Thursday, while the S&P 500 has gained 2.6%.

Fitbit stock falls after Wedbush downgrade

15 hours ago

Shares of Fitbit Inc. are down 1.2% in premarket trading Friday after Wedbush analyst Michael Pachter downgraded the stock to neutral from outperform given what he views as a lack of information provided by management about the opportunities in the larger health system. "It is not yet clear how much Fitbit Care and related initiatives are contributing to Fitbit's revenue and profitability, and we anticipate guidance for FY19 to include modest revenue and earnings growth without providing any detail on healthcare," he wrote. He expects that the company will host an analyst day in the coming months and be more forthcoming then. "We think what is currently known about the medical-technology opportunity is fully priced into Fitbit's share price," Pachter wrote. "Until we know more, we will step to the sidelines." Pachter kept his $6.50 target price intact. Fitbit's stock has risen 24% over the past three months, as the S&P 500 has gained 4.7%.

Voyager Therapeutics stock soars after AbbVie collaboration potentially valued at over $1 billion

15 hours ago

Shares of Voyager Therapeutics Inc. ran up 14.2% in premarket trade Friday, after the gene therapy company and AbbVie Inc. announced a collaboration to develop antibodies to treat Parkinson's disease. AbbVie's stock was still inactive ahead of the open. Under terms of the collaboration, Voyager will receive $65 million upfront and up to $245 million in preclinical and phase 1 option payments, as well as up to an additional $728 million in potential milestone payments and royalties. Voyager is also eligible to earn up to a total of $500 million in commercial milestones. Voyager's stock has lost 10% over the past three months, while AbbVie shares have declined 8.6% and the S&P 500 has gained 4.7%.

Starboard calls on Magellan Health to explore a sale, nominates 'full slate' for board of directors

15 hours ago

Activist investor Starboard Value LP called on Magellan Health Inc. to explore "all potential strategic alternatives," including a sale of the company, to unlock shareholder value. Starboard, which said it owns 9.8% of the healthcare management company's outstanding shares, also nominated a "full slate" of candidates for election to Magellan's board. In an open letter to shareholders, Starboard said the company is "deeply undervalued," as operational missteps have resulted in "frustratingly extensive periods of share price underperformance." Among the execution issues Starboard listed were key legacy contract losses, bringing on "significant yet unprofitable" new business and "haphazard" execution in its pharmacy benefit management business. "When comparing a revised standalone plan to a sale of the company, it is crucial for the Board to appropriately assess the risks inherent in the internal plan and the time required to achieve that plan, compared to the certainty of a sale transaction," Starboard wrote in the letter. The stock, which was still inactive in premarket trade, has lost 25.5% over the past 12 months while the SPDR Health Care Select Sector ETF has climbed 9.2% and the S&P 500 has gained 2.6%.

AutoNation misses revenue expectations, names new CEO

15 hours ago

AutoNation Inc. reported a fourth-quarter drop in earnings and revenue fell more than expected, while naming a new CEO and implementing a restructuring plan. The auto retailer's stock was indicated down fractionally in premarket trade. Net income fell to $92.7 million, or $1.02 a share, from $151.3 million, or $1.64 a share, in the same period a year ago. The latest quarter included restructuring charges of 8 cents per share, while year-ago results included a 45-cents per share tax-reform benefit. The FactSet consensus for earnings per share was $1.15. Revenue fell to $5.41 billion from $5.68 billion, below the FactSet consensus of $5.63 billion, as new and used vehicle and parts and service revenue all missed expectations. The restructuring plan targets lowering costs by $50 million a year. Separately, the company named Carl Liebert its new CEO effective March 11. Liebert, currently Chief Operating Officer at USAA, will succeed current CEO Mike Jackson, who will assume the role of executive chairman on March 11. The stock has lost 26% over the past 12 months while the S&P 500 has gained 2.6%.

Wayfair's stock surges after company loses less, sells more than expected

15 hours ago

Shares of Wayfair Inc. shot up 5.1% in premarket trade Friday, after the online home furnishings seller reported fourth-quarter losses that were narrower than expected and revenue that beat forecasts. The net loss widened to $143.8 million, or $1.59 a share, from $72.8 million, or 83 cents a share, in the same period a year ago. Excluding non-recurring items, the adjusted loss per share was $1.12, compared with the FactSet consensus of a $1.28 loss per share. Revenue rose to $2.01 billion from $1.44 billion, above the FactSet consensus of $1.97 billion, as direct retail revenue grew 41% to $2.00 billion to top expectations of $1.95 billion. The number of active direct retail customers increased 38% to 15.2 million and orders per customer increased to 1.85 from 1.77, while the average order value declined to $227 from $229, but matched the FactSet consensus. The stock has rallied 7.5% year to date, while the S&P 500 has climbed 10.7%.

Tough going in trade talks; Trump set to meet China's top negotiator: report

yesterday

Negotiators from the U.S. and China have struggled this week to agree on specific language as they sketch out the framework of a potential trade deal, Reuters reported Thursday. Still, talks in Washington were apparently going well enough that President Donald Trump will meet with China's top trade negotiator, Vice Premier Liu He, on Friday, according to Reuters. The two sides reportedly met for more than nine hours Thursday. The 90-day tariff truce is set to expire March 1, though in recent days Trump has suggested he may hold off on raising tariffs if a deal appears imminent.

Surprise! California pension fund reportedly had major stake in National Enquirer parent

yesterday

Californians voted overwhelmingly against Donald Trump in the 2016 presidential election, but they might be surprised to learn they owned as much as one-third of the parent company of the National Enquirer, which helped Trump's campaign by reportedly supressing potentially damaging news stories, the Los Angeles Times reported Thursday. CalPERS, California's public pension fund, which is funded by taxpayers and state employees, was one of the largest investors in American Media Inc. as of 2016, the Times reported. It is unclear if it still holds that stake. Through public filings, the Times found CalPERS's stake came from an investment managed by a New Jersey hedge fund. The tabloid was most recently accused of trying to blackmail Amazon.com Inc. CEO Jeff Bezos with salacious photos. A CalPERS spokeswoman told the Times "CalPERS does not align itself with American Media's business actions," or endorse it. A Stanford economics professor told the Times that many Californians would be unhappy to learn they may have helped fund pro-Trump efforts: "That's going to make them feel real good about their pension fund managers!" he said sarcastically.

India Globalization Capital says it will re-list on NYSE American exchange

yesterday

India Globalization Capital Inc. said late Thursday that it had successfully challenged the NYSE American's Oct. 29 decision to de-list the stock. IGC said it will re-list no later than Feb. 26. "We are very pleased that the Exchange procedures allowed us the opportunity to challenge the decision to delist and to present our case to a review panel," Chief Executive Ram Mukunda said in a statement. Prior to its October de-listing, MarketWatch had written a story that outlined series of concerns with the company's claims and businesses.

Stamps.com ending exclusive partnership with U.S. Postal Service, stock down nearly 50%

yesterday

Stamps.com Inc. revealed Thursday afternoon that it is ending its partnership with the U.S. Postal Service, helping to explain a disappointing forecast provided earlier that sent shares plunging. The explanation did not help, as shares continued to dive and were recently down nearly 48% in after-hours trading. "We will no longer be exclusive to the USPS and that's non-negotiable," Chief Executive Kenneth McBride said of demands his company made in negotiations to renew their revenue-sharing agreement. "The USPS has not agreed to accept these terms or any other terms of our partnership proposal. So at this point we've decided to discontinue our shipping partnership with the USPS so that we can fully embrace partnerships with other carriers who we think will be well-positioned to win in the shipping business in the next five years." McBride later stressed that Stamps.com will still be able to sell stamps. "Note that our decision to discontinue our exclusive partnership with the USPS does not in any way impact our regulatory relationship with them or the products and services we are able to offer our customers," he said, stressing that the move is an effort to service other carriers such as FedEx, UPS and Amazon.com Inc.

Kraft Heinz cuts dividend, stock falls farther

yesterday

Kraft Heinz Inc. announced Thursday afternoon that it would slash its dividend payments by more than a third, sending shares on an even steeper dive in after-hours trading. Kraft Heinz shares had already declined more than 8% after releasing a disappointing earnings report, but executives passed along more bad news in the conference call. Kraft Heinz plans to slash its dividend to 40 cents a share each quarter, an annualized $1.60 a share rate, from a $2.50 a year rate, a reduction of 36%. Executives also said that they are considering selling more businesses that the food conglomerate currently owns. Shares were down more than 17% as of 6 p.m. Eastern time.

Wabtec to replace Goodyear Tire on S&P 500 Feb. 27

yesterday

Wabtec Corp. , an equipment supplier for the rail industry, will replace Goodyear Tire & Rubber Co. in the S&P 500 ahead of the market's open on Feb. 27 as part of its plan to buy Transportation Systems Holdings, which was spun off from General Electric Co. , S&P Dow Jones Indices said Thursday. After the deal, Wabtec will be more representative of a large-cap stock, according to the index company. Shares of Wabtec fell 1.3% after hours.

Ford launches probe into its emissions, fuel economy testing

yesterday

Ford Motor Co. said late Thursday it has launched an investigation into its U.S. fuel economy and emissions compliance process after some employees raised concerns, the car maker said. The issue is not connected to "defeat devices," Ford said. The car maker has hired an outside firm to look into road-load specifications used in its testing and applications and is evaluating possible changes to some of its modeling, it said. Ford has shared its concerns with the Environmental Protection Agency and California Air Resources Board officials, it said. "The investigation and potential concerns do not involve the use of defeat devices in our products. At this time, there's been no determination that this affects Ford's fuel economy labels or emissions certifications," the company said. The first vehicle under the microscope is the 2019 Ranger, but Ford is assessing additional vehicles as well. "As always, we strive to be transparent with our customers, employees, dealers, shareholders and other stakeholders. We understand how important it is to all audiences that we thoroughly yet swiftly complete this investigation," Ford said. Shares of Ford fell 0.7% in the extended session Thursday after ending the regular trading day down 2.6%.