Ford (F) - Get Ford Motor Company Report shares skidded by more than 7.8% Thursday to close at $9.52 after the company suffered the fallout from weak second-quarter results and guidance that were issued Wednesday.

Ford reported second-quarter earnings of 28 cents a share on revenue of $38.9 billion vs. Wall Street's profit expectations of 31 cents a share on revenue of $38.5 billion. For the full year, the company said it expects to earn between $1.20 and $1.35 a share vs analysts' expectations of $1.40 a share.

The stock was trading on heavy volume, with 39.6 million shares changing hands by 11 a.m. ET Thursday, higher than the company's average daily trading volume of 36.88 million shares. 

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Ford said its full-year guidance was "based on the current economic environment, including the status of commodities, foreign exchange and tariffs."

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