RESEARCH ALERT-Bear Stearns cuts GM profit outlook

Newswire

NEW YORK, March 20 (Reuters) - Bear Stearns said on Thursday it had lowered its full-year 2003 earnings forecast for General Motors Corp. because of weak March sales and the likelihood of further production cuts by the world's largest automaker. In a research note, Bear Stearns auto analyst Domenic Martilotti said he had cut his 2003 earnings per share estimate for GM to $5.10 from $5.25. Martilotti, who said GM's underfunded pension plan continues to be a burden on its cash and ...

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