CHICAGO, Sept. 19, 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 Tesla Motors, Inc. (Nasdaq:TSLA-Free Report), Morgan Stanley (NYSE:MS-Free Report), Ford Motor Co. (NYSE:F-Free Report), Honda Motor Co., Ltd. (NYSE:HMC-Free Report) and General Motors Co. (NYSE:GM-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 Roundup
Auto stocks fared poorly in the last five trading sessions as most major automakers recorded losses. Tesla Motors, Inc. (Nasdaq:TSLA-Free Report) fell for the second week in a row, as a Morgan Stanley (NYSE:MS-Free Report) analyst echoed CEO Elon Musk's last week's comments about the high stock price. This managed to diffuse the optimism provided by the approval of the Gigafactory incentive package by the Nevada Legislature.
Meanwhile, Ford Motor Co.'s (NYSE:F-Free Report) multiple recalls weighed on the stock price, overshadowing the Europe sales figures. Honda Motor Co., Ltd. (NYSE:HMC-Free Report) and others recorded losses, while General Motors Co. (NYSE:GM-Free Report) was one prominent company to have recorded small gains.
(Read last to last week's recap here: Auto Stock Roundup: Recalls Drag Ford, General Motors)
Recap of the Week's Most Important Stories
- Nevada's Legislature approved a package of bills which will allow tax incentives of $1.3 billion spread over 20 years for the construction of Tesla's $5 billion Gigafactory in the state. The tax benefits include sales tax exemptions of around $725 million through Jun 2034. Moreover, Tesla will save payroll and other taxes worth about $300 million through 2024. (Read more: Tesla Gigafactory Incentives Approved by Nevada.)
- Ford reported a 14.4% rise in sales in Europe to 61,700 units in August, beating the industry growth rate of 2%. Year-to-date, Ford's sales in the Euro 20 region surged 7.1% to 762,900 vehicles, beating the industry growth rate of 5.9%.
- General Motors has increased the number of deaths associated with the late faulty ignition switch recall to 19. There are apprehensions of the number rising further. Kenneth Feinberg, who was hired by the company to assess death claims and deploy funds, has determined that 19 out of the 125 death claims received by the company are eligible for compensation while the rest either require further documentation proof or are still under review. (Read more: General Motors' Ignition Switch Death Claims Rise to 19.)
- Recalls by automakers continued this week as well. Toyota announced the recall of 130,000 Tundra pickup trucks of model year 2014 to fix a problem in the side air bags. Meanwhile, Ford announced three separate recalls in North America. The automaker recalled 66,000 Escape hybrids of model years 2005 to 2008 and 7,800 Mercury Mariner crossover vehicles of model years 2006 to 2008 to fix a malfunctioning coolant pump. Additionally, Ford announced the recall of around 1,700 F-650 and F-750 pickup trucks of model year 2014 with diesel engines in the U.S. and Canada. The third recall was for 2014 model year Ford Focus sedans and 2015 model year Lincoln MKC crossovers. (Read more: Ford Makes Announcement of 3 Recalls in North America.)
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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