Merrill Lynch upgrade's GM to "neutral"
Thread Starter
Banned
Joined: Jul 2001
Posts: 3,604
From: Milton, FL
Merrill Lynch upgrades GM to "neutral"
http://biz.yahoo.com/ap/060426/wall_street.html?.v=9
better article:
http://today.reuters.com/investing/f...-GM-STOCKS.xml
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."
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."
Last edited by anasazi; Apr 26, 2006 at 11:22 AM.
It's only gonna get better, too.
Registered User
Joined: Jul 1999
Posts: 2,072
From: Lilburn, GA, USA
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?
Registered User
Joined: Mar 2001
Posts: 13,713
From: The Golden State
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.
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.
Last edited by guionM; Apr 26, 2006 at 02:16 PM.
