Just as the ides of March marked the downfall of Julius Caesar, last week brought several industry titans to their knees.
Shares of General Motors (GM) plunged last week after the car maker was hit with criticism related to ignition problems and botched recalls. Competitors Ford (F) and Toyota (TM) were also swept up in the bad press and saw their share prices fall. So over the weekend I downgraded all three auto makers in Portfolio Grader to D-rated sells (all were previously C-rated holds).
It just comes to show that a lot can happen in a week, even with Wall Street’s biggest players. So let’s look at the 61 big blue chips that have been upgraded and downgraded this weekend. After taking a close look at the latest data on institutional buying pressure and each company’s fundamental health, I decided to revise my Portfolio Grader recommendations for each of the stocks listed below.