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Merrill Lynch upgrades GM to "neutral"
http://biz.yahoo.com/ap/060426/wall_street.html?.v=9
GM jumped $1.32 to $22.73 after Merrill Lynch upgraded the automaker one notch to "neutral," citing beliefs that its restructuring plan is moving in the right direction. better article: http://today.reuters.com/investing/f...-GM-STOCKS.xml DETROIT (Reuters) - Shares of General Motors Corp. rose more than 6 percent on Wednesday after a Merrill Lynch analyst said he sees early signs of a turnaround at the struggling auto giant. Merrill Lynch analyst John Murphy on Wednesday raised his ratings on GM to "sell" from "neutral." "We believe the three steps necessary to turn GM around are: shrink to a defensible position, get a new labor deal, and reinvest in product," Murphy wrote in a research note. "And there appear to be early signs of these steps being taken." |
Re: Merrill Lynch upgrade's GM to "neutral"
Great!!! It'd good to see a positive upswing for once. Hell, last year was depressing anytime I thought about GM...
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Re: Merrill Lynch upgrade's GM to "neutral"
Excellent. :thumb:
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Re: Merrill Lynch upgrade's GM to "neutral"
Gotta love GM :bow: It's only gonna get better, too.
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Re: Merrill Lynch upgrade's GM to "neutral"
#2 will be the hard one. The stock should move if Delphi can hammer out a new contract, too.
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Re: Merrill Lynch upgrade's GM to "neutral"
This is pretty significant news.
I wonder if/when others will follow suit in the upgrade. |
Re: Merrill Lynch upgrade's GM to "neutral"
Helps my 401k. Good to hear that progress is being made.
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Re: Merrill Lynch upgrade's GM to "neutral"
Too bad their lineup still sucks.
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Re: Merrill Lynch upgrade's GM to "neutral"
It seems that last month, there was nothing but bad news and now there is mostly positive news. It is odd to have all the good news and bad news so close together. Could the recovery plan be taking affect so quickly or was some of the bad news just overblown?
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Re: Merrill Lynch upgrade's GM to "neutral"
well.. there still is the whole Delphi business still hanging around.. GM still has to write a big check to cover that!
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Re: Merrill Lynch upgrade's GM to "neutral"
The worse is behind GM. The last rattlesnake in the crib is this Delphi issue and their executives doing everything in their power to scuttle GM's & the UAW's newfound goodwill.
But I agree, that outside of this, GM should have a run of great news and much better times. The Lutz-Welburn vehicles are finally starting to hit the streets. GM's board of directors didn't make the same disasterous mistakes they did in the '90s. And most importantly, they have a CEO focused on the long term future of GM (even at the risk of his job and the company's credit & stock ratings) instead of monthly bottom line pressures from people looking for quick profits. Ya know, someone better start thinking about which hospital's padded room BM is going to be commited to and hope his insurence covers it. If Wagoner pulls off this turnaround, he's likely going to be seen as the greatest auto executive ever. If this happens, someone's going to find BM in a fetal position in a gutter somewhere, drooling and talking about those 14 (or whatever) step plans with himself. :lol: |
Re: Merrill Lynch upgrade's GM to "neutral"
Buick Man will be as worthless as a Bowel Movement. BM!
I know, dry... :lol: |
Re: Merrill Lynch upgrade's GM to "neutral"
Originally Posted by Chrome383Z
Buick Man will be as worthless as a Bowel Movement. BM!
I know, dry... :lol: ............. :D |
Re: Merrill Lynch upgrade's GM to "neutral"
Originally Posted by Chrome383Z
Buick Man will be as worthless as a Bowel Movement. BM!
I know, dry... :lol: |
Re: Merrill Lynch upgrade's GM to "neutral"
Originally Posted by IREngineer
will be?
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