The Zacks Analyst Blog Highlights: General Motors, Ford Motor, Tesla Motors, Toyota Motor and Honda Motor
For Immediate Release
Chicago, IL – October 17, 2014 – 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. (GM-Free Report), Ford Motor Co. (F-Free Report), Tesla Motors, Inc. (TSLA-Free Report), Toyota Motor Corp. (TM-Free Report) and Honda Motor Co., Ltd. (HMC-Free Report).
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Here are highlights from Thursday’s Analyst Blog:
Auto Stock Roundup
Weakness in the U.S. market dragged all major auto stocks last week. General Motors Co. (GM-Free Report), Ford Motor Co. (F-Free Report) and several others others, fell to new 52-week lows on Oct 15.
Meanwhile, Tesla Motors, Inc. (TSLA-Free Report) lost 11.4% over the last five trading sessions owing to stressed market conditions, along with company-specific factors such as a downward estimate revision by Credit Suisse, a petition by Model S owners and unfulfilled investor expectations related to last week’s announcement.
(Read last to last week’s recap here: Auto Stock Roundup: 52-Week Lows for General Motors & Ford, Positive Momentum for Tesla)
Recap of the Week’s Most Important Stories
Tesla launched the world’s first dual electric motor production car as well as an all-wheel drive and an autopilot system that will be integrated in all Model S vehicles, going forward. The dual motor significantly enhances the performance of Model S. In fact, the high-end version of Model S with dual motor, christened Model S P85, is the fastest accelerating four-door production car of all times with a 0–60 mph acceleration in 3.2 seconds, according to Tesla. (Read more: Tesla Motor Launches All-Wheel-Drive Model S with Auto Pilot.)
General Motors sold 7.37 million vehicles globally in the first nine months of 2014, up 2% from the prior-year period. However, it lost the second spot to Volkswagen AG, which reported global sales of 7.4 million. Toyota Motor Corp. (TM-Free Report) is expected to maintain its leading position when it reports its nine-month sales figures.
Winnebago reinstated its quarterly cash dividend to enhance shareholders’ value. The company announced a quarterly cash dividend of 9 cents per share, payable on Nov 26, 2014 to shareholders of record as of Nov 12, 2014.
Penske announced a 5% increase in its quarterly cash dividend to 21 cents per share from 20 cents. The increased dividend will be paid for the first time on Dec 1, 2014, to shareholders of record on Nov 10, 2014.
Toyota announced three recalls this week, while Honda Motor Co., Ltd. (HMC-Free Report) announced one. The largest of the three recalls by Toyota covered 1.7 million vehicles globally. These vehicles are being recalled for possible fuel leak, which can result in fire. Another recall covered 800,000 Crown Majesta, Crown, Noah and Voxy vehicles manufactured between Jun 2007 and Jun 2012. These vehicles are being recalled in Japan, China and other parts of Asia due to possible leakage in the brake master cylinder. Toyota also recalled 190,000 Corolla, Rumion and Auris models for problem in the fuel evaporator emissions control unit. Meanwhile, Honda recalled 43,000 Acura vehicles in the U.S. due to issues with the front seat belts. Per reports, the front seat belts may not unclasp in temperatures below 0 degrees Fahrenheit. (Read more: Honda Recalls Acura Vehicles for Seat Belt Issue.)
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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