Citigroup Downgrades GM to Hold from Buy

1388 Views 24 Replies 11 Participants Last post by Buickman, May 28, 2008

steinravnik

Discussion Starter · May 27, 2008

GM Declines After Citigroup Cuts Shares on Higher Energy Costs

May 27 (Bloomberg) -- General Motors Corp. fell after Citigroup Inc. cut its rating on the largest U.S. automaker to ``hold'' from ``buy,'' citing higher energy and commodities costs as well as continuing credit constraints.

``Auto fundamentals are poised to deteriorate beyond 2008,'' Citigroup analysts wrote in a note. GM faces ``reduced earnings power and cash burn risks.''

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aFnW44IVGYlU

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Hoboken Tim

· #13 · May 28, 2008

AMERICA 123 said:
Yea, Citigroup...... who is up to their eyeballs in the securitized/mortgage failure and the follow up 'we're going to fleece the sheep with an oil bubble - to cover our losses program' ?

Is that the same one ?

Tell me do they have a position of any sorts in regards to hybrid powertrains and other automakers - say from Japan ??

Speaking of ratings and disasters waiting to happen, how do they look themselves - allowing for what we don't know - of course.

Yes, How much of the price of oil is due to the big money moving from real
estate to oil futures?

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