Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

New Stock Coverage: 57 Cents Could Cost General Motors Billions

By

Wall Street ratings agencies set the tone for today's stock market.

PrintPRINT
Notwithstanding that yesterday was the start of National Poetry Month, history repeated rather than rhymed on Wall Street. For the past four decades, April has been the single best month of the year for the S&P 500 (INDEXSP:.INX), and so it proved again, with the index hitting a historic high. Even Ford (NYSE:F), whose founder was famous for saying "history is bunk," joined in the fun, gaining 4.62% for its single best session since 2012. (Alas, Herman Van Rompuy, the haiku-penning head of the European Council, could only curse in verse how much worse is the Continent's economy than its American counterpart.) Tesla Motors (NASDAQ:TSLA), whose man of the hour Elon Musk was the victim of an audio editing error on 60 Minutes, made money talk by surging 4.09%. As, indeed, did Google's (NASDAQ:GOOGLarry Page, who once literally lost his voice. His stock advanced another 1.83%. Mr. Page has promised to leave Mr. Musk all his money, but you know what they say -- where there's a will, there's a won't. Just ask Anderson Cooper, whose mom isn't giving him a wooden nickel of her hundreds of millions. He will only inherit the wind, when Windstream (NASDAQ:WIN) -- up 3.16% -- would have been a far better bet. And on the 75th birthday of Ali MacGraw -- whose never say sorry is the stuff of Hollywood history -- Mary Barra took her General Motors(NYSE:GM) to Capitol Hill for an extremely belated apology tour.
 
Today in economics, factory orders for February are expected to tick up from the prior month's pace at 10:00 a.m. EDT. On the earnings front, Monsanto (NYSE:MON) released results earlier this morning.
 
Alkermes (NASDAQ:ALKS): The stock, up 2.59% yesterday, is adding on another 1.92% as we speak after being assigned an Outperform by Credit Suisse. Its target price is $57.
 
Automakers: Nomura establishes a Neutral on Ford Motor ($15 price objective) and has a Reduce and $32 target on General Motors, whose deadly ignition switch could have been fixed for $0.57. Issues for both car companies include "increasing macroeconomic headwinds," according to the bank.
 
E-House (China) Holdings (NYSE:EJ): Shares are surging some 4.31% even as we speak, this after being begun with a bullish Buy at Brean Capital.
 
Mobile Mini (NASDAQ:MINI): The stock is a new Neutral at SunTrust.
 
National Fuel Gas (NYSE:NFG): Jefferies starts the stock with a Buy and $79 objective.
 
SouFun Holdings (NYSE:SFUN): The Chinese stock is begun with a Buy and $105 target at Brean Capital, which says urbanization and increasing household income can each act as catalysts.
 
Textron (NYSE:TXT): JP Morgan resumes research at Overweight. Its target is $44.
 
Utilities: Barclays assigns an Overweight on NRG Energy (NYSE:NRG) and establishes an Equal Weight on NRG Yield (NYSE:NYLD). Its respective price objectives are $36 and $41.
 
Also see:

Stock Upgrades: Intuitive Surgical Rides the Rise of the Robots

Stock Downgrades: The Medicines Company Stuck in Sickbed

No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE