Automakers & Airlines – The Stocks In Spotlight

The stocksAutomakers & Airlines – The Stocks In Spotlight of Automakers and airlines were the stocks that were in spotlight at the end of the week; the auto industry really appeared to be facing a tough market.

General Motors Corp., which started the week with its biggest suppliers, American Axle & Manufacturing Holdings Inc., reaching a tentative labor deal with the United Auto Workers, tumbled to the lowest level in 25 years because of news that the strike with American Axle will cost GM $1.8 billion before taxes.

The American Axle shares fell 81 cents, or 4.2 percent, to $18.44 at 4:15 p.m. in New York Stock Exchange composite trading.
 
On Friday, the Shares of GM set a low of $17.38, and ended down 83 cents, or 4.5 percent, to $17.60 on above average trading volume; For the week, shares finished nearly 14.9 percent lower.

The shares of Ford Motor Co. dropped 64 cents, or 8.2 percent, to $7.16 on Thursday over the auto maker’s announcement that it will slash production of trucks and SUVs through the rest of the year. , the stock declined 29 cents, or 4.1 percent, to end at $6.87 on Friday.

The shares of UAL Corp. declined 63 cents, or 7.7 percent, to end $7.52 after setting an all-time low of $7.36. The operator of United Airlines significantly raised ticket prices up to $60 roundtrip to cover the rising cost of fuel.

The stock of Home Depot Inc., the world's largest home-improvement retailer, declined 14 cents to end at $26.77 on Friday. Shares finished the week down 7.3 percent from Monday's closing price.