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20.10.26 - 15:45
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General Motors Shares Plunge 6% Despite $20 Billion Buyback Announcement And Earnings Beat (ZeroHedge)
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General Motors Shares Plunge 6% Despite $20 Billion Buyback Announcement And Earnings Beat
General Motors shares are plunging more than 6% in premarket trading Tuesday, despite the automaker announcing a massive new $20 billion share repurchase program and reporting quarterly earnings that came in ahead of Wall Street expectations, according to Bloomberg News.
The selling comes as GM continues to grapple with a weakening U.S. auto market, where higher financing costs and pressure on household budgets have made it increasingly difficult to sell lower-priced vehicles. Demand for the company's more expensive trucks and SUVs has held up considerably better, allowing GM to preserve profitability even as overall sales volumes come under pressure.
Bloomberg/Financial Post reports that for the third quarter, GM generated approximately $50 billion in revenue and $4.1 billion in adjusted operating profit, narrowly beating analyst expectations. Adjusted earnings of $3.70 per share also exceeded the $3...
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20.10.26 - 14:36
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GM Narrows 2026 Profit Forecast, Boosts Share Buyback (Bloomberg)
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General Motors narrowed its full-year profit forecast amid softening sales, while also announcing it will buy back another $20 billion in stock. Paul Jacobson, CFO and executive vice president at GM, discusses the results on “Bloomberg Surveillance.” (Source: Bloomberg)...
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20.10.26 - 14:12
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AI Fears Return With Data Center IPO Flop; SpaceX, Netflix Earnings (Bloomberg)
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US equity futures slip, pausing an AI recovery in stocks, after South Korean data center company Elice plunged in its trading debut. Ukrainian President Volodymyr Zelenskyy heads to Norway for fresh peace talks as tensions with the US deepens. SpaceX, Netflix, General Motors, RTX, and Northrop are set to report earnings. Jeanne Sun of Citigroup Global Markets joins "Bloomberg Brief" to discuss her outlook for this earnings season. (Source: Bloomberg)...
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20.10.26 - 13:36
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GM Q3 Profit Surges, Revises FY26 Earnings View, Plans $20 Bln Buyback; Stock Drops (RTTNews)
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Shares of General Motors Co. were losing around 6 percent in the pre-market activity on the NYSE after the automajor revised its fiscal 2026 earnings view, raising the lower end of range, but trimming the higher end. This was despite reporting strong growth in third-quarter earnings. The firm also announced a new $20 billion multi-year share repurchase program and declared quarterly dividend....
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20.10.26 - 13:00
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General Motors Company Q3 Profit Climbs (AFX)
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WASHINGTON (dpa-AFX) - General Motors Company (GM) released earnings for its third quarter that Increases, from last yearThe company's bottom line came in at $3.305 billion, or $3.73 per share. Th......
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18.09.26 - 20:13
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Auto Stocks Slide As VW Cuts Outlook, Industry Urges Trump To Keep BYD Cars Out (ZeroHedge)
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Auto Stocks Slide As VW Cuts Outlook, Industry Urges Trump To Keep BYD Cars Out
Earnings pressure and trade-policy uncertainty are weighing on auto stocks on Friday.
Volkswagen shares fell as much as 7.5% after the struggling European automaker lowered its operating-margin forecast, reflecting a write-down on its Porsche stake and weak Chinese demand.
Separately, US auto industry groups urged the Trump administration to maintain restrictions on Chinese vehicles, according to a Bloomberg report.
"Allowing them to open a domestic facility would provide a foothold in the US market at the expense of manufacturers operating here," the coalition wrote.
Signatories include the Alliance for Automotive Innovation, whose members include Ford, General Motors, Toyota and Volkswagen, alongside Autos Drive America, the American Automotive Policy Council and the National Automobile Dealers Association.
The letter to the White House, seen by Bloomberg, comes less than a week before President Trump m...
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