Ford Posts First Annual Profit Since 2005

U.S. automaker Ford (F), viewed as the healthiest of the nation's automakers, says it earned $2.7 billion last year -- its first annual profit since 2005.

The news drove shares 4% higher before the opening bell but most of those gains were lost by the end of trading Thursday.

Ford, which remains the only big U.S. automaker to avoid a government bailout, has benefited by smart cost-cutting moves and sales of popular car and truck models.