Why Ford Stock Is Roaring Higher Today

Shares of Ford Motor Company (NYSE: F) were trading higher on Tuesday morning, after Ford announced the hiring of a new chief marketing officer -- and after Reuters reported that Ford's new CEO is moving aggressively to reduce rising warranty costs. As of 10:45 a.m. EST, Ford's shares were up about 6.9% from Monday's closing price. Reuters reported that new Ford CEO Jim Farley has begun an initiative to reduce so-called warranty costs, the costs that Ford incurs when vehicles are repaired under warranty or in conjunction with a recall.