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General Motors (GM) option IV into hosting a conference call and webcast for financial analysts

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UAW push to organize Tesla (TSLA) and non-union auto sector

November 29, 2023 4:22 PM EST

The United Auto Workers (UAW) union announced Wednesday their plan to unionize electric vehicle maker, Tesla (NASDAQ: TSLA) as well as the entirety of the nonunion auto industry in the United States.

This move follows the unions successful negotiation of new contracts with the Detroit Three automakers.

UAW revealed that employees from 13 nonunion automakers have launched coordinated campaigns nationwide to join the union.

These efforts encompass companies such as Tesla, Toyota (NYSE:... More

General Motors (GM) takes $9.3B hit from labor deals, plans $10B buyback

November 29, 2023 10:13 AM EST

General Motors (NYSE: GM) announced on Wednesday that its recent labor agreements following an extended U.S. strike will result in a $9.3 billion expense. Despite this, the company has detailed plans for $10 billion in share repurchases, a 33% hike in dividends, and a significant reduction in expenditure for its self-driving taxi venture, Cruise.

At Tuesday's closing price, the buyback amounts to approximately a quarter of GM's common... More

General Motors (GM) Mentioned Positively at Citi

November 29, 2023 9:41 AM EST

Citi analyst Itay Michaeli reiterated a Buy rating and $90.00 price target on General Motors (NYSE: GM)

The analyst comments "GMs post-UAW business update contained a number of positives that inject the much-needed visibility and reassurance we described earlier this week (here). Key... More

GM cuts spending on self-driving Cruise brand

November 28, 2023 9:17 AM EST

General Motors (NYSE: GM) announced Tuesday that the Detroit automaker is scaling back spending on its self-driving unit, Cruise following an accident involving one of their vehicles last month.

In October, a driverless cab operated by Cruise failed to halt in time... More