NEW YORK (TheStreet) -- General Motors Co. (GM) - Get General Motors Company (GM) Report stock is down by 1.32% to $32.23 in afternoon trading on Friday, after the automaker said it will have to suspend operations due to issues with its supply chain, which was impacted by the recent earthquake in Japan.
The company will suspend operations at four North American plants for two weeks, starting on Monday, because of parts shortage.
"This temporary adjustment is not expected to have any material impact on GM's full-year production plans in North America," GM said in a statement. "In addition, the company does not expect a material impact to its second quarter or full-year financial results for GM North America."
The temporary shutdown will mostly affect factories that manufacture sedans and hatchbacks, not larger vehicles, such as SUVs or trucks, which have a higher demand since gasoline prices dropped, Reuters reports.
Separately, GM has a "buy" rating and a letter grade of B- at TheStreet Ratings because of the company's compelling growth in net income, revenue growth, notable return on equity, attractive valuation levels and impressive record of earnings per share growth.
You can view the full analysis from the report here: GM
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