GM surges as CEO promises greater shareholder returns

Volkswagen hits the breaks on battery unit IPO

January 30, 2024 9:07 AM EST

Bloomberg reports Tuesday that Volkswagen AG (VW) is postponing its plans to draw external investors for its battery unit, citing sluggish demand for electric vehicles and a challenging landscape in the industry's shift toward electric mobility.

According to sources familiar with the matter who requested anonymity, the company has also delayed discussions with potential investors due to concerns about its ability to produce batteries at a large scale.

The company is no longer prioritizing stake sales or the potential listing of its PowerCo business in the current or upcoming year. Consequently, VW's preference shares experienced a negative... More

General Motors (GM) PT Raised to $38 at CFRA

January 30, 2024 8:33 AM EST

CFRA analyst Garrett Nelson raised the price target on General Motors (NYSE: GM) to $38.00 (from $34.00) while maintaining a Hold rating.... More

Midday movers: GM advances, Apple declines, and more

January 30, 2024 7:58 AM EST

(Updated - January 30, 2024 12:00 PM EST)

Investing.com -- Main U.S. indexes were mixed Tuesday as investors awaited the start of the latest Federal Reserve policy-setting meeting as well as earnings from a number of major companies.

Here are some of the biggest U.S. stock movers today:

General Motors (NYSE: GM) stock soared 6.75% after the auto giant reported lower pretax profit for the fourth quarter but gave investors an upbeat outlook for 2024 and signaled more capital could be returned to shareholders.

United Parcel Service (NYSE:... More

Ford Motor (F) Trades Higher in Sympathy with General Motors (GM)

January 30, 2024 7:19 AM EST

Ford (NYSE: F) Trades Higher in Sympathy with General Motors (NYSE: GM)

GM +8% Following ResultsF +2.7%Stellantis (NYSE: STLA) +2.3%
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General Motors annual earnings outlook tops estimates

January 30, 2024 7:05 AM EST

(Updated - January 30, 2024 9:07 AM EST)

Investing.com -- General Motors (NYSE: GM) has unveiled a full-year profit forecast that beat Wall Street estimates, giving lift to shares in the U.S. carmaker in premarket trading on Tuesday.

Adjusted earnings per share in 2024 is seen coming in at $8.50 to $9.50, topping Bloomberg consensus estimates of $7.70.

In a letter to shareholders on Tuesday, Chief Executive Mary Barra said that the company is "well-positioned" for a year of strong financial performance, arguing that ongoing resilience in the U.S. economy and jobs market... More

GM shares jump as CEO Barra promises shareholders more cash

January 30, 2024 6:32 AM EST

By Joseph White

DETROIT (Reuters) -General Motors shares jumped Tuesday after the company gave investors an upbeat outlook for 2024 and signaled more capital will be returned to shareholders.

"Consensus is growing that the U.S. economy, the job market and auto sales will continue to be resilient," GM Chief Executive Mary Barra told investors in a letter. GM expects to reduce shares outstanding to below 1 billion, down from about 1.2 billion currently and 1.6 billion at the post-IPO peak, Barra said.

GM shares rose 8.7% in early trading.

Barra highlighted moves to return cash to shareholders, including $12 billion in... More

General Motors (GM) Tops Q4 EPS by 8c, Beats on Revenue, Offers Strong EPS Guidance

January 30, 2024 6:31 AM EST

(Updated - January 30, 2024 6:32 AM EST)

General Motors (NYSE: GM) reported Q4 EPS of $1.24, $0.08 better than the analyst estimate of $1.16. Revenue for the quarter came in at $43 billion versus the consensus estimate of $38.66 billion.

The company sees 2024 Adjusted EPS of $8.50-$9.50, above estimate... More

General Motors (GM) Raises Quarterly Dividend 33.3% to $0.12; 1.4% Yield

January 29, 2024 4:01 PM EST

General Motors (NYSE: GM) declared a quarterly dividend of $0.12 per share, or $0.48 annualized. This is a 33.3% increase from the prior dividend of $0.09.

The dividend will be payable on March 14, 2024, to stockholders of record on March 1, 2024, with an ex-dividend date of February 29,... More

GM dealers pressure automaker to introduce more hybrid options

January 29, 2024 12:19 PM EST

In an exclusive story by The Wall Street Journal Monday, a General Motors (NYSE: GM) advisory committee, made up of influential auto dealers, is pressuring the Detroit automaker to introduce additional hybrid models.

The Dealers worry that without more hybrid options they risk losing customers looking for a slower transition to fully electric vehicles.

According to unnamed sources, the committee has held several meetings where the dealers urged General Motors to add hybrids to its lineup. In recent years, GM has directed its attention toward fully electric vehicles,... More

Dealers Have Been Pressing GM (GM) to Add Hybrids to U.S. Lineup - WSJ

January 29, 2024 11:22 AM EST

Dealers Have Been Pressing GM (GM) to Add Hybrids to U.S. Lineup - WSJ

GM Dealers on Advisory Committees Want Hybrids as a Hedge to the Company's EV Strategy... More

General Motors (GM) February weekly option implied volatility elevated into quarter results

January 29, 2024 10:43 AM EST

General Motors (NYSE: GM) February weekly call option implied volatility is at 60, February is at 39; compared to its 52-week range of 26 to 46 into the expected release of quarter results before the bell on January 30.

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General Motors (GM) February weekly 35 straddle into quarter results

January 29, 2024 3:59 AM EST

General Motors (NYSE: GM) February weekly 35 straddle priced for a move of 5.5% into the expected release of quarter results before the bell on January 30.

... More

General Motors (GM) option IV after Tesla (TSLA) results

January 26, 2024 5:19 AM EST

General Motors (NYSE: GM) 30-day option implied volatility is at 35; compared to its 52-week range of 26 to 46 into expected release of quarter results on January 30.

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