General Motors shares slide despite raising full-year outlook

General Motors (GM) PT Raised to $54 at Argus

Argus analyst William Selesky raised the price target on General Motors (NYSE: GM) to $54.00 (from $52.00) while maintaining a Buy rating.

The analyst comments "Raising price target to $54 On July 23, General Motors reported an adjusted 2Q24 net profit of $3.510 billion or $3.06 per diluted share, up... More

General Motors (GM) cut at Morgan Stanley on minimal upside

Morgan Stanley downgraded General Motors (NYSE: GM) from Overweight to Equal-weight in a note Wednesday, citing limited upside potential.

Despite raising the price target from $46 to $47, analysts believe the stock's recent performance has largely discounted the upside.

"GM's improved capital discipline and execution has driven $10 of EPS, making it the best performing major OEM year-to-date and... More

Morgan Stanley Downgrades General Motors (GM) to Equalweight

Morgan Stanley analyst Adam Jonas downgraded General Motors (NYSE: GM) from Overweight to Equalweight with a price target of $47.00 (from $46.00).

The analyst comments "GM's fundamental improvements in capital discipline have not been ignored by the stock market. During the UAW strike of... More

General Motors (GM) PT Raised to $61 at JPMorgan

JPMorgan analyst Ryan Brinkman raised the price target on General Motors (NYSE: GM) to $61.00 (from $60.00) while maintaining a Overweight rating.

The analyst comments "We are reiterating our Overweight rating on GM shares after the automaker reported strongly better 2Q results Tuesday, which along with GMs strongly better than expected 2024 outlook introduced in January, strongly better than expected 1Q beat, unexpected guidance increase at the time of 1Q24 earnings, and unexpected second raise to full-year 2024 guidance today in as many quarters reveal GMs $10 bn accelerated share repurchase program announced last October and subsequent follow-on... More

General Motors (GM) PT Raised to $54 at Mizuho

Mizuho analyst Vijay Rakesh raised the price target on General Motors (NYSE: GM) to $54.00 (from $52.00) while maintaining a Outperform rating.

The analyst comments "Slowing EV Ramps with EV Trucks and Regulations - Still Up Q/Q, Focus on ICE GM noting EVs getting... More

Midday movers: Coca-Cola, Spotify rise; UPS, Comcast fall

(Updated - July 23, 2024 11:33 AM EDT)

Investing.com -- U.S. stock futures gained Tuesday ahead of the release of key corporate earnings, particularly from the important tech sector.

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

General Motors (NYSE: GM) stock fell 6% despite the auto giant beating second-quarter profit and revenue expectations, and raised its annual profit forecast for a second time this year, buoyed by strong pricing and demand for gas-powered trucks. Some analysts expressed concerns that results have peaked.... More

GM slams brakes on self-driving vehicle without steering wheel

By David Shepardson

(Reuters) -General Motors' Cruise self-driving unit will focus its development efforts on a next-generation Chevrolet Bolt as it indefinitely delays its planned Origin vehicle that would not have a steering wheel, the automaker said on Tuesday.

In 2022, GM filed a petition with the National Highway Traffic Safety Administration seeking permission to deploy up to 2,500 self-driving Origin vehicles annually without human controls such as brake pedals or mirrors. The agency has not acted on the request and GM cited the regulatory risk for its decision.

GM will instead use a conventional next-generation... More

General Motors (GM) Tops Q2 EPS by 35c; lifts guidance

General Motors (NYSE: GM) reported Q2 EPS of $3.06, $0.35 better than the analyst estimate of $2.71. Revenue for the quarter came in at $47.97 billion versus the consensus estimate of $45 billion.

GUIDANCE:

General Motors sees FY2024 EPS of $9.50-$10.50.

For earnings history and earnings-related data on General Motors (GM) click here.

General Motors (GM) Reports Q2, Raises Guidance, Puts Self-driving Vehicles without Steering Wheel on Hold

General Motors Co. (NYSE: GM) today reported second-quarter 2024 revenue of $48.0 billion, net income attributable to stockholders of $2.9 billion and EBIT-adjusted of $4.4 billion.

GM is also updating its 2024 full-year earnings guidance for the second consecutive quarter:

Updated 2024 Guidance

Previous 2024 Guidance

Net income attributable... More

GM beats quarterly expectations and raises forecast, but shares dive

By Nora Eckert

DETROIT (Reuters) - General Motors reported second-quarter profit and revenue on Tuesday that beat Wall Street's expectations, and raised its annual profit forecast for a second time this year, buoyed by strong pricing and demand for gas-powered trucks.

The company's shares lost 6.4% on the day, however. 

The selloff could be related to a number of factors, analysts said, including a shift in the company's Cruise self-driving vehicle strategy, its continued losses in China and a broader concern that the auto industry will become less disciplined on inventory levels and buyer incentives.

Harris support, Tesla earnings, Wiz's deal - what's moving markets

Investing.com -- Corporate earnings will be in the spotlight Tuesday, especially from tech giants Tesla and Alphabet, while Wiz has reportedly turned down a deal with Google. Vice President Kamala Harris looks set for a run at the presidency. 

Vice President Kamala Harris appears to be in prime position to receive the Democratic Partys nomination to run against Republican candidate Donald Trump in Novembers presidential election.

An AP survey indicated that... More

Stocks expected to have increasing option volume: LMT HCA SHW GM KMB DGX WBD CALX WBD NXPI

Stocks expected to have increasing option volume: LMT HCA SHW GM KMB DGX WBD CALX WBD NXPI

General Motors (GM) Declares $0.12 Quarterly Dividend; 1% Yield

General Motors (NYSE: GM) declared a quarterly dividend of $0.12 per share, or $0.48 annualized.

The dividend will be payable on September 19, 2024, to stockholders of record on September 6, 2024, with an ex-dividend date of September 5, 2024.

The annual yield on the dividend is 1 percent.

For a... More

General Motors (GM) option IV elevated into quarter results

General Motors (NYSE: GM) July 26 weekly call option implied volatility is at 64, August is at 36; compared to its 52-week range of 21 to 43 into the expected release of quarter results before the bell on July 23.

Biden/Harris, Nvidia's chips, Chinese rate cut - what's moving markets

Investing.com -- The volatile U.S. political situation took another turn, with President Joe Biden dropping out of race for re-election. China has attempted to boost its struggling economy but cutting interest rates, while Nvidia is developing an AI chip for the Chinese market. 

President Joe Biden on Sunday bowed to what seemed inevitable, and dropped out of the race for re-election amid concerns about his age and health.

Biden backed his Vice... More

RBC Capital Reiterates Outperform Rating on General Motors (GM)

RBC Capital analyst Joseph Spak reiterated an Outperform rating and $58.00 price target on General Motors (NYSE: GM).

The analyst comments "GM appears to be set up well for a Q2 beat. 2024 guidance also implies a sharp H2 downshift vs H1 which could be... More

GM, Ford profit may take a hit from cooling EV demand, US dealer software outage

By Nathan Gomes and Nora Eckert

(Reuters) - General Motors and Ford may post lower profit when they report quarterly results this week, as the industry's high-stakes bet on EVs fails to pay off, while a cyberattack on a crucial computer network used by dealerships disrupted sales.

GM is expected to report a 7.7% drop in second-quarter net income, while Ford is expected to post a 10% drop in profit, according to data from LSEG. GM is scheduled to report its results on Tuesday and Ford the following day.

The cyberattack-induced outage at CDK forced the retail... More

General Motors (GM) July weekly 48.50 straddle priced into quarter results

General Motors (NYSE: GM) July weekly 48.50 straddle priced for a move of 6% into the expected release of quarter results before the bell on July 23.

10 policies if Trump wins and stock implications: Jefferies

Jefferies, in a note on Friday, pointed out ten potential policies that former President Donald Trump could implement if he wins the next election and the subsequent stock implications.

The report is based on Trump's Agenda 47 proposals, an analysis of the 220 executive orders from his first term, and insights from Jefferies' policy experts.

1. Immigration and Deportation

Jefferies' analysts predict that Trump may terminate benefits for undocumented immigrants and intensify deportation and detention efforts, involving cutting public housing, food stamps, health insurance, and citizenships for children of undocumented immigrants.

The move might benefit... More