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APR 02, 2014 - MarketWatch

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Ford initiated at neutral, GM reduce at Nomura

MADRID (MarketWatch) -- Nomura initiated coverage on two major U.S. automakers on Wednesday, starting Ford Motor Co. at neutral and General Motors Co. at reduce. "We believe increasing macroeconomic headwinds will affect Ford and GM's profitability negatively relative to very high expectations for a FY15 earnings-per-share recovery," said analyst Harald Hendrikse. He said they also initiated their macro-based model for the U.S. auto seasonally-adjusted annual rate at 16.0 million units for 2014, which reflects the slowdown in demand growth since September 2013. Slowing U.S. demand has ... Read More

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