5 Trending Stocks on Tuesday

4. Ford Motor Company (NYSE:F)

Number of Hedge Fund Holders: 46

Shares of Ford Motor Company (NYSE:F) fell over eight percent after the opening bell on Tuesday. The drop came after the Michigan-based automaker warned that higher costs have significantly dragged down its operating profit in the current quarter.

Ford Motor Company (NYSE:F) now anticipates adjusted EBIT in the range of $1.4 – $1.7 billion for the third quarter, well below analysts’ average estimate of $2.9 billion.

Nevertheless, Ford Motor Company (NYSE:F) reaffirmed its earnings outlook of $11.5 – $12.5 billion for the full year. The company plans to provide a detailed financial outlook along with its quarterly report next month.

Ford Motor Company (NYSE:F) is the latest company to blame macroeconomic headwinds for hurting its growth. Several companies such as FedEx and McDonald’s have already pointed towards weakening demand due to inflationary pressure.