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Goldman Sachs outlined its preview of the second quarter for auto stocks. Below is a summary of some of their notable calls.
Goldman On Guidance
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Goldman expects the following changes to guidance:
- Harley-Davidson Inc (NYSE: HOG): Sees lower guidance, retail checks suggest sluggish sales
- Dana Holding Corporation (NYSE: DAN): Lower guidance on expected market share losses
- Sonic Automotive Inc (NYSE: SAH): Lower guidance on Takata recall effects
- Cooper-Standard Holdings Inc (NYSE: CPS) and Metaldyne Performance Group Inc (NYSE: MPG): Both seen raising guidance as outlooks are too conservative
On Earnings
Goldman analysts expect consensus beating results from the following due to solid production and expected strength in North American and European auto sales:
- General Motors Company (NYSE: GM)
- Delphi Automotive PLC (NYSE: DLPH)
- Metaldyne Performance Group
Additionally, Goldman expects Ford Motor Company (NYSE: F) to mostly achieve its guidance for the year.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.