MidnightTrader’s Analyst Play: Ford
Ford Motor
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PowerRating) closed down 10.7% at 7.50 Friday, extending its pre-market decline. Weakness followed two downgrades this morning – Bear Stearns reducing it to Underperform from Peer Perform and JP Morgan cutting it to Neutral from Overweight.
In recent analyst ratings changes that MidnightTrader has tracked, including today, Ford has extended its pre-market move during regular trading four times.
4/25/2008 Pre-Market: -2.7% at 8.17; 4/25/2008 Regular Session:0 -10.7% at 7.50 – JP Morgan cuts stock to Neutral, Bear Stearns cuts stock to Underperform.
4/21/2008 Pre-Market: up at 7.50 4/21/2008 Regular Session: +3.7% at 7.73 – Soleil raises rating to Buy vs Sell, hikes price target to $11 per share vs $5.
9/17/2007 Pre-Market: bid higher; 9/17/2007 Regular Session: +4% – Bear Stearns upgrades stock to Outperform vs Peer Perform.
7/27/2007 Pre-Market: +1% 7/27/2007 Regular Session: +3.1% to 8.35 – Merrill raises rating to Neutral vs Sell.
Brooks McFeely is widely regarded as the leading expert on extended-hours trading. He is a Managing Partner for Brochet Capital Partners, LP and the founder of Midnight Trader, Inc. (www.midnighttrader.com), the leading provider of pre-market and after-hours trading analysis and news to retail and institutional investors.