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post #1 of 9 (permalink) Old 03-13-2008, 07:43 PM Thread Starter
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Ford stock hits lowest price since '85, GM hits its lowest since '06 today

While it's been a tough couple of months for the auto industry as a whole it's been a crappy week for the Big 3.

From the Detroit Free Press:

Ford stock hits lowest price since '85, GM hits its lowest since '06 today
By KATIE MERX FREE PRESS BUSINESS WRITER March 13, 2008


Shares of General Motors Corp. and Ford Motor Co. fell markedly today after Morgan Stanley Research cut its earnings forecasts for the two Detroit automakers.

Ford shares fell to $5.12 early in the day, their lowest level since 1985. But the Dearborn automaker's shares had a bit of a rebound, closing down only 31 cents, or 5.4%, at $5.39.

After dropping to $19.07 - its lowest level since April 2006 - GM stock rebounded to close down 62 cents, or 2.96%, at $20.31.

Morgan Stanley auto analyst Jonathan Steinmetz wrote in a note to investors that the investment house was cutting the earnings estimates for the automakers following "poor February U.S. sales, poor fourth quarter results" and a new weaker U.S. industry sales forecast.

"We are cutting our 2008 U.S. sales estimate to 15.4 million from 15.9 million," Steinmetz wrote. "We are also introducing a 2009 forecast of 15.8 mm. We are reducing our estimates on GM, Ford, and suppliers with heavier Detroit-3 exposure."

Steinmetz lowered his expectations for GM's estimated earnings per share this year to a loss of $1.30 per share from an earlier estimate of a $1.30 per share profit.

The analyst lowered his estimate for Ford to a loss of 40 cents per share from an earlier estimate of a loss of 15 cents per share.

Steinmetz said he expects GM to build 175,000 fewer vehicles in the United States and Canada this year than the 4.1 million they built last year.
Steinmetz wrote that the downgrades were based primarily on "near-term headwinds," and that potential for cost reductions and product rejuvenation are possible by 2010 or 2011.
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post #2 of 9 (permalink) Old 03-13-2008, 07:50 PM
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The question now is it time to buy Ford stock or is it still on the way down?
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post #3 of 9 (permalink) Old 03-14-2008, 11:01 AM
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Wait until $4.00 dollar gas. Then they will really be hurting then. That jackass in the white house. Only took 7 years to meet the Big three. After blowing off meeting after meeting with them. Then only for 30 mins. And saying i can't and i won't do anything to help you. Tuff shit its not my problem. And F^*k off all the blue and white worker jobs. Me and my Oil buddys are making Billions. And all i can see are Muslim bomber's around every corner. Bush is so narrow minded, his note pads are only 1/2" inch wide.

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post #4 of 9 (permalink) Old 03-14-2008, 12:00 PM
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Quote:
Originally Posted by spence340 View Post
The question now is it time to buy Ford stock or is it still on the way down?
Are you kidding me?

You don't want to be holding stock, even if it is increasing because the dolalr is depreciating faster than the stock is rising [if it is rising]
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post #5 of 9 (permalink) Old 03-14-2008, 12:04 PM
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Originally Posted by SPOOK R/T View Post
Wait until $4.00 dollar gas. Then they will really be hurting then. That jackass in the white house. Only took 7 years to meet the Big three. After blowing off meeting after meeting with them. Then only for 30 mins. And saying i can't and i won't do anything to help you. Tuff shit its not my problem. And F^*k off all the blue and white worker jobs. Me and my Oil buddys are making Billions. And all i can see are Muslim bomber's around every corner. Bush is so narrow minded, his note pads are only 1/2" inch wide.
Please don't put all the blame on Bush.
Because if you do and the guard changes to another neo-con, McCain
http://devvy.net/pdf/mar08/stop_mccain_030508.pdf
or hillary/obama, the powers that be will be able to continue their agenda.

Last edited by MikeW; 03-14-2008 at 12:13 PM.
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post #6 of 9 (permalink) Old 03-14-2008, 01:55 PM
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True Bill and Hillary's Nafta BS as hurt us. But there are big problems with so called free trade. Most of the time we get screwed big time. Other countries tariff the shit out of us. And we do nothing to level the playing field. The big 3 did some bone headed deals in the past no doubt. But for every good paying job we send over sea's. It lower's the tax base we have here. And it buts a higher burden on the ones that are still working. With higher taxes for the rest of us. To make up the short fall.

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post #7 of 9 (permalink) Old 03-14-2008, 02:10 PM
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True Bill and Hillary's Nafta BS as hurt us. But there are big problems with so called free trade. Most of the time we get screwed big time. Other countries tariff the shit out of us. And we do nothing to level the playing field.
Nicely put! We need to get rid of NAFTA.
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post #8 of 9 (permalink) Old 03-14-2008, 03:01 PM
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True Canada has already said they don't like it. How can you beat 3-rd world counties. That pay there workers 50 cent's a day. And no pensions, health care, and tree hugger laws,
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post #9 of 9 (permalink) Old 03-14-2008, 03:13 PM
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True Canada has already said they don't like it. How can you beat 3-rd world counties. That pay there workers 50 cent's a day. And no pensions, health care, and tree hugger laws,
This is a huge topic this election. I for one would love to see it go.

Sorry for the small hijack.
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