Like most analysts, Rod Lache has concluded that a government bailout is not likely to help the shares, that even with a bailout GM's future, if it is not in bankruptcy, is likely to be "bankruptcy-like."
The Dow picked up gains on Friday with investors gobbling up shares of commodity and tech stocks currently trading at multi-year lows.
Stocks sold off on Thursday in their worst two-day slide since October 1987 with disappointing corporate outlooks and bleak sales from major retailers fueling invsetor fears.
The Dow plummeted on Wednesday, a day after Barack Obama's historic victory, as a fresh batch of dismal economic data underscored the massive challenges awaiting his administration.
I can make excuses for the selloff, if you want: 1) the volume is light, 2) there has been no concerted wave of selling, just buyers walking away, and 3) we have had a rally for the last week and a half and can't expect to go too far.
The average stock is down about 2.5 percent midday, with particularly weakness in some commodity and energy names. ArcelorMittal's announcement they would be cutting steel production is weighing on steel, iron ore, and coal companies.
Futures are down, but don't read this as a refutation of President-elect Obama. The S&P 500 has moved 11 percent in the past week, and many traders went home short on simple profit-taking.
The Dow surged higher in an Election Day rally, with investors looking forward to the end of the uncertainty surrounding the long fight for the White House.
The Lightning Round is extended in this CNBC.com exclusive feature.
These stocks look like they should be bought, right? Here's why they can't be.
Commodities are unwinding -- but Bob Richards, Longbow Research analyst, says steel stocks are only going to get stronger. "There are systemic reasons for prices to stay high," Richards assured investors.
For the week ending Friday, August 22, 2008, the U.S. major Indices fell for the week on the unknown future of mortgage giants Freddie Mac and Fannie Mae, downbeat home construction July data, and soaring producer prices. The NASDAQ Composite performed the worst for the week, declining 1.54%, its steepest decline since Independence Day week. However, Friday was a positive day for the markets helped by a welcome speech by Federal Reserve Chairman Ben Bernanke and a pull back in the price of crude. The Dow had three days of triple-digit point gains & losses, netting to finish almost flat for the week.
The Dow edged higher on Friday, as the continued drop in oil fueled stock market optimism. However the Fast Money traders have their eye on Goldman Sachs.
Things may be looking pretty grim for the European economy, but is there still money to be made from understanding how consumer trends are shifting? Here are some opinions on which areas might be more profitable than others in the current environment.
The Dow closed lower on Friday after General Motors reported hefty losses and new data showed U.S. employers cut jobs for the seventh straight month.
The Dow and S&P 500 climbed higher on Wednesday after an unexpectedly strong report on the job market offset a surge in oil prices.
ArcelorMittal, the world's No. 1 steelmaker, reported second-quarter results far above analysts' expectations on Wednesday as it managed to pass on rising raw material costs despite the growing economic gloom.
As most are aware, Cramer's been strong on steel -- John Surma of U.S. Steel even made an appearance at Penn State with the show back on March 26, and steel's gone north 25% since then. Only Stalin may have been a stronger supporter of steel, Cramer quips. Now, however, the metal's not looking so hot, with news of lower coal prices and consumer resistance to steel industry price hikes and surcharges.
Following are the day’s biggest winners and losers. Find out why shares of American Express and Sherwin-Williams popped while NYSE Euronext and Yahoo! dropped.
In Monday’s Web Extra, Karen Finerman reveals which steel stock she thinks is buy on market moving news.