I'm at work so I'll make this brief...
You can get the direction you need to move by taking the x and y position of the thumbstick.
Something like Vector2 direction = GamePad.GetState().Thumbsticks.Right;
If you normalise the direction, you can then simply multiply by the object's speed (per frame) and add it to it's current position.
so Vector2 newPosition = oldPosition + direction.Normalize() * speed;
To get the facing, you can do a bit of trig:
float rotation = Math.Atan2(direction.Y, direction.X);
That will give you the rotation in radians, which you can use to create a rotation matrix (eg. Matrix.CreateRotationZ(rotation))
I hope that points you in the right direction.