GM shares tumble as analyst cuts estimates

Published October 7, 2014 4:35pm ET



DETROIT (AP) — Shares of General Motors Co. slid as much as 5 percent in midday trading Tuesday after an analyst cut his earnings estimates and stock price target.

GM has the same problems as rival Ford, which warned last week that would fall short of full-year profit goals due to warranty and recall costs, foreign exchange differences and economic troubles in Russia and South America, Morgan Stanley analyst Adam Jonas wrote in a note to investors.

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