GM stock drops on Bernstein downgrade. The problem: 'Earnings headwinds' and cost concerns.

Lead autos analyst Daniel Roeska wrote in a note Monday morning that while GM shares have jumped over 85% since November of last year, there are several headwinds on the way that could dampen the stock’s run.

“We think there is a risk the company will announce additional capital requirements during its October CMD . We want to wait and see which updates GM shares," Roeska wrote. “We expect the company to further lower its BEV guidance. As a result, variable profit on EVs will be pushed back, and EBIT targets will be delayed to next year at best,” he wrote.

This all leads to Roeska’s rationale for downgrading GM to Market Perform and a lower $53 price target.While Roeska’s take is likely moving the stock lower on Monday, there is some bullishness on the Street too. On Monday, HSBC analysts named GM its top pick over its Big Three rivals, Ford , Ford is dealing with the possibility of a strike at the tool and die unit at one of its F-150 assembly plants.

Part of the District Line and London Overground have been suspended all day, after heavy rain hit the capital’s transport network overnight. There has been no District Line service between Turnham Green and Richmond, while the London Overground was also suspended between South Acton and Richmond.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Stock market today: S&P 500, Nasdaq slump as Nvidia struggles ahead of earningsStocks are eyeing a bid for fresh record highs after Jerome Powell made it crystal clear the Fed is ready to pivot to lowering rates in September.
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Nvidia options straddle says stock will move about 11% post-earnings: BermanTo calculate what the odds makers (read options market makers) are expecting following this week’s Nvidia Corp. (NVDA) earnings report, we can look at the pricing of an at-the-money straddle.
La source: BNNBloomberg - 🏆 83. / 50 Lire la suite »

Nvidia: How one strategist sees the stock trading on earningsNvidia (NVDA) is set to release its second quarter earnings on Wednesday, August 28, with many on Wall Street laser-focused on the chipmaker's results due to...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Stock market today: Wall Street hovers around records ahead of Nvidia earnings and inflation dataNEW YORK (AP) — Wall Street is hovering around record highs at the start of a week featuring another full slate of corporate earnings and the government’s...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

S&P/TSX composite up 100 points, U.S. stock markets mixed after Nvidia earningsTORONTO — Canada's main stock index gained 100 points Thursday, led by gains in energy, technology and financials, while U.S. stock markets fizzled to a mixed close following earnings from Nvidia. The S&P/TSX composite index closed up 100.
La source: SooToday - 🏆 8. / 85 Lire la suite »