When Ford Motor Co. posts fourth- quarter results tomorrow, the numbers probably won’t look great, likely the lowest operating profit of the year. Those figures mask the optimism coming from an unlikely place: Europe.
General Motors Co., the biggest U.S. automaker, rose to the highest price in since July 2011 after reporting a narrower first-quarter loss in Europe than a year earlier and earning more money than analysts had estimated.
The Dow Jones Transportation Average surged the most in more than eight months, led by railroad Kansas City Southern, as growing confidence in the U.S. economic recovery strengthens demand for freight shipments.
Canadian Pacific Railway Ltd. may face pressure to sell the company after William Ackman’s Pershing Square Capital Management LP bought a 12.2 percent stake and said it expects to hold talks with management.
At General Motors Co. ’s first annual meeting since going public again, Dan Akerson can talk up market-share gains and profit that old GM hadn’t seen in a decade. What he can’t do is take a victory lap.