General Motors Corp, the world's biggest automaker, lost US$1.04 to US$35.62. Ford Motor Co, the second largest, fell US$0.54 to US$9.96. UBS Warburg analyst Saul Rubin reduced his rating on General Motors to "neutral" from "buy," and downgraded Ford to "reduce" from "neutral" because the shares appear expensive.
Ford's stock has risen 32 percent this month after the company reported profit that beat estimates. General Motors' shares are close to fairly valued, he said.
Starbucks Corp lost US$1.76 to US$23.47. The biggest chain of US coffee shops reduced its full-year forecast to reflect its acquisition of Seattle Coffee Co and its expectation of paying higher taxes overseas.
Amazon.com Inc, the world's largest Internet retailer, jumped US$3.85 to US$28.97. Its first-quarter loss narrowed to $10.12 million as sales rose 28 percent. The company also boosted its 2003 revenue forecast to an increase of more than 19 percent from a gain of at least 15 percent.
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