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GM Shares Hit 62-Year Lows
Forbes Markets
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11-10-2008 5:30 PM
480 views
tags:
general motors
,
u.s. equities
,
automakers
Forbes Markets
says:
Thud.
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/cb31f347-93f8-4b95-9ba8-256c6905641a/359088CE-5CA3-48C1-9224-ACDCB385D741/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.reuters.com/article/ousiv/idUSTRE4A82UZ20081110" href="http://www.reuters.com/article/ousiv/idUSTRE4A82UZ20081110" style="font-size: 11px;">www.reuters.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/ousiv/idUSTRE4A82UZ20081110"><P>Shares of General Motors Corp (GM.N: <A href="http://www.reuters.com/stocks/quote?symbol=GM.N">Quote</A>, <A href="http://www.reuters.com/stocks/companyProfile?symbol=GM.N">Profile</A>, <A href="http://www.reuters.com/stocks/researchReports?symbol=GM.N">Research</A>, <A href="http://reuters.socialpicks.com/stock/r/GM">Stock Buzz</A>) tumbled 24 percent to 62-year lows on Monday after analysts downgraded the automaker, citing cash levels that may fall below the minimum needed in the first quarter of 2009.<SPAN id="midArticle_byline"></SPAN></P><SPAN id="midArticle_0"></SPAN> <P>Analysts including Barclays Capital to Credit Suisse also warned that while government aid would decrease the risk of a bankruptcy for the No.1 U.S. automaker, any assistance would come at a significant cost to existing shareholders.</P><SPAN id="midArticle_1"></SPAN> <P>GM and Ford Motor Co (F.N: <A href="http://www.reuters.com/stocks/quote?symbol=F.N">Quote</A>, <A href="http://www.reuters.com/stocks/companyProfile?symbol=F.N">Profile</A>, <A href="http://www.reuters.com/stocks/researchReports?symbol=F.N">Research</A>, <A href="http://reuters.socialpicks.com/stock/r/F">Stock Buzz</A>) reported far deeper-than-expected quarterly losses on Friday and said their rate of cash burn had accelerated, as an extended slump in car sales raised questions about the future of the U.S. auto industry.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/359088CE-5CA3-48C1-9224-ACDCB385D741/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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