Ford stock worst S&P 500 performer a day after $1 billion supply-cost warning

Ford Motor Co. F, -10.52% stock on Tuesday fell to its lowest since July 27 and was on pace for its largest one-day percentage drop in two years a day after the auto maker said inflation and parts shortages will leave it with more unfinished vehicles than it had expected and paying more for the parts it does get, reminding Wall Street supply-chain snags are far from over. The stock is down for four of the past six days and looking at losses of 35% for the year, which compares with losses of around 19% for the S&P 500 index. SPX, -1.12% Ford said it expects to have between 40,000 and 45,000 unfinished vehicles in inventory at the end of the third quarter and that, based on recent negotiations, payments to suppliers will run about $1 billion higher than expected for the quarter, thanks to inflation. The company reaffirmed its outlook for the year, however. Ford stock was the worst performer on the S&P.

Source: finance.yahoo.com