investors are worried that third-quarter earnings will be worse than expected,
The Wall Street Journal
reported this morning.
In July, the company warned of a lackluster quarter. Now, there is increased investor concern because of a research note issued yesterday by a
analyst that predicts the U.S. arm of the carmaker would report an operating loss of about $320 million. The loss is a result of outsized spending on consumer incentives combined with costs for launching new vehicles.
Deutsche Bank cut its earnings view on the company to 59 cents a share from 95 cents for the third quarter and to $4.82 a share from $5.77 for the full year. A five-analyst estimate for the quarter is $1.22, while the 12-analyst estimate for the year is $5.77.