'Big 3' Analyst Upgrades Send Futures Higher

|
Includes: DDAIF, F, GM
by: Jonathan Liss

After starting the morning on a down note, U.S. futures broke into positive territory on word the 'Big 3' automakers have all been upgraded by major sell-side firms.big 3 Deutsche Bank upgraded both GM and Ford to 'buy' from 'hold,' anticipating a positive outcome from healthcare negotiations with the companies' respective unions could improve the firms' flexibility in restructuring. DaimlerChrysler also received a 'Buy' upgrade from Citigroup as the firm grows more optimistic in the lead up to the company reveling its new optimization plan. Both GM's and Ford's shares are trading higher by roughly 4% in pre-market action.

• Sources: MarketWatch (i), (ii), (iii)
• Commentary: Big 3's January U.S. Auto Sales Fall To Lowest Ever As Japanese Gain, Winners and Losers From January's U.S. Auto Sales Report, American Cars: No Rewards Under the Hood
• Stocks and ETFs to watch: General Motors (NYSE:GM), Ford (NYSE:F), DaimlerChrysler (DCX). Competitors: Toyota (NYSE:TM), Honda (NYSE:HMC), Nissan (OTCPK:NSANY)

Seeking Alpha's news summaries are combined into a pre-market briefing called Wall Street Breakfast. Get Wall Street Breakfast by email -- it's free and takes only a few seconds to sign up.

About this article:

Expand
Tagged: , Auto Manufacturers - Major
Want to share your opinion on this article? Add a comment.
Disagree with this article? .
To report a factual error in this article, click here