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Carmaker Ford posts smaller than expected losses

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Carmaker Ford posts smaller than expected losses

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The Ford Motor Company has posted a smaller than expected first-quarter loss, and says it is on track to at least break even in 2011.

The loss from continuing operations and excluding one-time items came to 75 cents per share, whereas one dollar 23 had been predicted. Further news that executives did not expect to seek federal funds from the US government sent the company’s shares soaring by 22 percent.