Will Automotive Stocks Johnson Controls Inc.(NYSE:JCI), Tesla Motors Inc(NASDAQ:TSLA), and Dana Holding Corporation(NYSE:DAN) Change Their Current Trajectories?
New York, NY – GDP INSIDER – 10/14/2014.
This article discusses three automotive stocks: Johnson Controls Inc.(NYSE:JCI), Tesla Motors Inc(NASDAQ:TSLA), and Dana Holding Corporation(NYSE:DAN)
Johnson Controls Inc(NYSE:JCI) traded for as little as $40.16, a new 52 week low for the company. That mark also represents a new three month closing price low for the Wisconsin-based auto parts company that closed for as much as $51.41 on Jul. 14th, 2014. Not only that, but Johnson Controls was also downgraded by RBC Capital Markets yesterday, as the company was dropped from “Top Pick” to “Outperform”. The company also recently fired a consulting firm after one of the company’s psychologist’s had an affair with Johnson Controls CEO Alex Molinaroli.
On Oct. 13th, Credit Suisse lowered the earnings per share target for Tesla Motors Inc(NASDAQ:TSLA). The financial services lowered its estimate from $0.96 per share to $0.86 per share. Overall, the company’s market capitalization has fallen by around $3 billion over the past two trading days. Nevertheless, the company continues to announce innovative products that have the potential to succeed in a consumer market that desires electric cars, including a 691 horsepower electric super-sedan.
Dana Holding Corporation(NYSE:DAN) also reached a new 52 week low of $17.18 during yesterday’s trading. Not only that, but the company also has a bid price of $17.14 x 200 and an offer price of $24.68 x 600. These figures suggest that Dana Holding’s value may be susceptible to future fluctuations. The Ohio-based company manufactures and sells thermal-management, sealing, and driveline products to vehicle manufacturers. The company, like Johnson Controls, was also downgraded by RBC Capital Markets from “Outperform” to “Sector Perform”.
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