WILMINGTON, Del. (AP) -- Ford is meeting with shareholders to talk about a turnaround following last week's revelation that billionaire Kirk Kerkorian has taken a 4.7 percent stake in the automaker.

The company posted a surprising $100 million profit during the first quarter and recently announced a new labor deal with auto workers in Canada.

Ford Motor Co., the nation's second largest automaker, reported a full-year loss of $2.7 billion last year and has said it does not expect to reach profitability until next year. Company officials are reviewing several ballot proposals and Chief Executive Alan Mulally will brief shareholders Thursday on plans for a turnaround.

Kerkorian's Tracinda Corp. said it eventually wants to bump its ownership of Ford up to 5.6 percent. Kerkorian has expressed confidence in Mulally's work.