CHICAGO, Oct. 10, 2014 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the General Motors Co. (NYSE:GM-Free Report), Ford Motor Co. (NYSE:F-Free Report), Morgan Stanley (NYSE:MS-Free Report), Tesla Motors, Inc. (Nasdaq:TSLA-Free Report) and Thor Industries Inc. (NYSE:THO-Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Thursday's Analyst Blog:
Auto Stock Outlook
General Motors Co. (NYSE:GM-Free Report) and Ford Motor Co. (NYSE:F-Free Report) fell to new 52-week lows in two consecutive trading sessions due to weak market conditions and the target price cuts by Morgan Stanley (NYSE:MS-Free Report). Additionally, continued recalls and increased death claims due to the ignition switch issue compounded problems for General Motors, while the continued impact of a weak 2014 outlook, revealed on Sep 29, dragged Ford.
Meanwhile, Tesla Motors, Inc. (Nasdaq:TSLA-Free Report) gained significantly over the last five trading sessions on speculation of announcements related to a new vehicle and additional features for current vehicles.
Recap of the Week's Most Important Stories
- Stock price of Tesla increased for three consecutive trading sessions till Oct 6 as analysts and investors speculated on CEO Elon Musk's tweet that promised to "unveil the D and something else" on Oct 9. The company had also circulated a picture of a half-opened garage door marked with the letter D that had a dimly lit vehicle inside. This led to speculation that Tesla will announce a new car as well as additional driving-assist features for its existing cars. (Read more: Will Tesla Unveil Automated Driving Features, New Car?)
- On Oct 7, 2014, shares of General Motors tanked to a 52-week low of $31.65. The shares eventually closed at $31.77, with a negative year-to-date return of 20.4%. The 52-week low came on the heels of Morgan Stanley's lowering of price target range to $27–$29 for the automaker with the reiteration of an underweight rating. Moreover, the number of deaths associated with the faulty ignition switch has been increasing, while the automaker continues to announce more recalls. The stock fell further on Oct 8, reaching another 52-week low of $30.79 before rising to close at $32.18. (Read more: General Motors at 52-Week Low on Target Price Cut, Recalls.)
- Shares of Ford also touched a new 52-week low of $14.08 on Oct 7, given the weakness in the overall market and weak investor sentiment for the automaker that has been prevailing since the Investor Day conference on Sep 29, when Ford revealed weak outlook for 2014. As with General Motors, shares of Ford also plunged further on Oct 8 to reach another 52-week low of $13.62 before rising to close at $14.21. The decline on Oct 8 was partly contributed by the downward revision of Ford's target price to $14 from $16 by Morgan Stanley.
- Thor Industries Inc.'s (NYSE:THO-Free Report) stock gained 1.6% on Oct 6, as the market factored in the impact of the 17% increase in the regular quarterly dividend announced by the company on Friday. The board of directors of Thor approved the increase in dividend to 27 cents from 23 cents in a meeting on Oct 3. Thor will pay the increased dividend on Oct 31 to shareholders of record as of Oct 17. (Read more: Thor Shares Rise on 17% Hike in Quarterly Dividend.)
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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