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GENERAL MOTORS rally expected ahead of major 1W Golden CrossGeneral Motors (GM) is close to a Golden Cross on the 1W time-frame, which is a major bullish development as since its first trading days in November 2010, it has only been formed twice. The first one was on the week of June 19 2017 and second on March 29 2021. In both cases, the price rallied aggressively and reached the 2.0 Fibonacci extension of the pull-back that took place before. On top of that, its last two lows and the August 05 in particular, tested and successfully held both the 1W MA50 (blue trend-line) and 1W MA200 (orange trend-line). As a result, we expect the price to extend the rally and target at least $65.00. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:GMLong
by TradingShot
1
GM Stock Dips 5.4% Following a Downgrade by Morgan Stanley General Motors (NYSE: NYSE:GM ) stock took a significant hit following a downgrade by Morgan Stanley on Wednesday, as the investment bank lowered its rating from "Equal Weight" to "Underweight." Analyst Adam Jonas expressed concerns about rising competition from China, growing inventories, and the increasing costs tied to artificial intelligence (AI) integration in vehicles. The China Factor The major factor behind Morgan Stanley's downgrade is China, a critical market for NYSE:GM and the global automotive industry. China now produces 9 million more vehicles than it sells, turning what was once a profit center into a significant competitive threat. Jonas remarked that China's overcapacity, especially in electric vehicles (EVs), could put further pressure on Western automakers like GM. - GM's Market Share Decline: Over the past few years, NYSE:GM has been losing market share both in the U.S. and globally. The company has shifted its focus to electric vehicles and AI-driven technologies, but the costs and complexities of these transitions weigh heavily on its profitability. - Rising Costs: Another critical aspect of the downgrade is the growing expense of enabling AI in vehicles. As GM pivots towards advanced driver-assistance systems and autonomous vehicles, capital spending continues to rise, with an estimated **$300 million** in additional costs for the foreseeable future. - Price Target Adjustment: As part of the downgrade, Jonas slashed GM's price target from $47 to $42, a level below the current share price. This adjustment reflects concerns over GM's ability to compete effectively in a rapidly changing market dominated by EVs and AI-enabled vehicles. Industry-Wide Impact While NYSE:GM was hit the hardest, the downgrade extended to other U.S. automakers. Rivian (RIVN) and Ford (F) also saw their ratings adjusted. For Ford, Morgan Stanley cited similar concerns, including price/mix headwinds and the risk posed by the growing Chinese market. Meanwhile, Rivian's downgrade was attributed to the high capital intensity of developing its autonomous and EV technologies. However, Tesla (TSLA) and Ferrari (RACE) were notable exceptions, as Jonas maintained an "Overweight" rating on both companies. Tesla, in particular, is considered well-positioned to benefit from ongoing advancements in AI, battery technology, and its upcoming **October 10 robotaxi reveal, which could set a new benchmark for autonomous vehicles. Technical Outlook From a technical perspective, GM's chart paints a bleak picture. As of Wednesday, NYSE:GM stock was down 5.2%, hovering near $45.47 per share, following the Morgan Stanley downgrade. This marks a sharp reversal from GM's year-to-date gains of over 26.2%, placing the stock under significant downward pressure. The Relative Strength Index (RSI), a key momentum indicator, stands at 42, suggesting the stock is nearing oversold territory and is approaching a bear zone. This indicates potential further downside if selling pressure continues to mount. Bearish Gap Down: More importantly, the daily price chart shows a gap down pattern, a clear bearish reversal signal. When a stock opens at a lower price than its previous close without trading in between, it creates a gap, often reflecting negative sentiment or new bearish information—such as this downgrade. The gap remains unfilled, adding to the negative outlook. GM's next critical support level lies at the $42 pivot. Should the stock dip below this level, it could trigger a larger sell-off, dragging NYSE:GM even deeper into bearish territory. Investors will be watching this zone closely to determine whether the stock will hold or break lower, which could catalyze even more selling pressure. False Dawn or Opportunity? Despite the current headwinds, GM's stock has rallied over 80% from its lows last November, largely due to factors like the resolution of the UAW strike, the gradual ramp-up of its EV production, and a resumption of Cruise robotaxi rides after a brief suspension. However, the stock's latest downturn raises the question: was this recovery a false dawn? While the company has made strides in expanding its EV lineup and autonomous driving capabilities, many analysts are wary of its ability to maintain momentum. Rising competition from Chinese automakers, combined with the immense capital required to stay at the forefront of AI and EV technology, puts GM in a challenging position. For now, Morgan Stanley's downgrade seems to reflect broader concerns over GM's ability to sustain market dominance in the face of these challenges. But with a robust presence in gas-powered vehicles and a growing portfolio of EVs, some investors may still see value at these levels, particularly if GM can address its core challenges and continue its transition to the next generation of automotive technologies. Conclusion: Tough Roads Ahead for GM As it stands, NYSE:GM faces a confluence of challenges: increased competition, rising costs, and weakening demand in key markets like China. The technical outlook remains bearish, with further downside potential if the stock breaks below its support at $42. Fundamentally, NYSE:GM must navigate these hurdles while continuing its aggressive shift toward AI and EV technology. Whether or not the stock can recover from this dip will depend largely on its ability to adapt in this increasingly competitive landscape. Investors should keep a close eye on GM’s next earnings report and market moves, as these will provide more insight into whether this sell-off represents a buying opportunity or the start of a larger downturn.
NYSE:GMShort
by DEXWireNews
General Motors initiates downsizing in China amid market shiftsGeneral Motors (GM) is undergoing a significant restructuring of its operations in China in response to declining sales and intense competition from local manufacturers. As part of its strategic adjustments, GM has started to reduce its workforce, particularly in departments focused on the Chinese market, such as research and development. These changes are unfolding as GM plans to meet with its local partner, SAIC, to discuss further capacity reductions and a broader reorganisation of its business strategies in China. The automotive giant's reorientation towards electric vehicle production and the focus on higher-priced and premium imported models come as the company grapples with the challenges posed by an oversaturated auto market in China. This strategic pivot is aimed at revitalizing GM's brand presence and competitiveness in the world’s largest auto market. Technical analysis of General Motors (NYSE: GM) Exploring potential trading opportunities based on the current technical setup of General Motors' stock: Timeframe : Daily (D1) Current trend : the stock is currently in an uptrend, with recent activity testing the support line. Resistance : 45.05 USD Support : 39.00 USD Potential downtrend target : should the trend reverse into a downtrend, the downside target could be set at 34.50 USD. Short-term target : if the uptrend persists and the stock breaks through the resistance at 45.05 USD, a short-term target could be 50.05 USD. Medium-term target : with sustained positive momentum, the stock price might aim for 55.50 USD. General Motors' performance, particularly amid ongoing organizational changes and strategic shifts in China, warrants close attention. The company's efforts to adapt to the evolving automotive industry and transition towards electric vehicles could have a substantial impact on its market position and stock performance. — Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews. The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments. Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
NYSE:GM
by RoboMarkets
🚗💡 General Motors (GM) Analysis 📈🔍Market Overview: GM is experiencing strong pricing trends driven by robust demand and a focused strategy, according to CFO Paul Jacobson. Analysts are optimistic, with Bernstein assigning an outperform rating and a $55 price target, indicating significant upside potential. Electrification Strategy: The imminent launch of the low-cost Chevrolet Equinox EV underscores GM's commitment to electrification, enhancing future profitability and market position. Investment Outlook: Bullish Stance: A bullish outlook on NYSE:GM is warranted above $38.00-$39.00. Upside Target: Target set at $61.00-$62.00, reflecting confidence in strategic execution and growth prospects in the electric vehicle market. 📊🔋 Monitor GM's performance closely for investment decisions! #GM #StockAnalysis 📉🔍
NYSE:GMLong
by Richtv_official
GE Aerospace Surges 6.37% On Earnings ReportGeneral Electric ( NYSE:GE ), a prominent global conglomerate, experienced a 6.37% surge in its stock prices following the release of its Q1 report. GE Aerospace, a subsidiary of General Electric, exceeded Q1 expectations, which included results for GE Vernova before the spinoff. GE Aerospace reported standalone adjusted earnings of 92 cents per share for the quarter. Solo adjusted revenue saw a 15% increase to $8.1 billion. On a consolidated basis, adjusted earnings for both GE Aerospace and GE Vernova were 82 cents per share, with consolidated GAAP earnings amounting to $1.38 per share. Total consolidated revenue increased by 11% to $16.1 billion, surpassing FactSet analysts' expectations of 65 cents per share on $15.25 billion in revenue. Total orders for GE Aerospace rose 34% to $11 billion, primarily driven by orders for commercial engines and services. The company registered free cash flow of $1.7 billion for the quarter. For fiscal 2024, GE Aerospace projects an adjusted earnings range of $3.80 to $4.05 per share, with free cash flow exceeding $5 billion. GE Aerospace raised its total operating profit outlook from $6 billion to $6.5 billion to $6.2 billion to $6.6 billion. GE anticipates mid-to-high teens growth in commercial engines and services revenue. It lifted its operating profit outlook for the business segment by $0.1 billion to $6.1 billion to $6.4 billion. GE Aerospace expects defense and propulsion technologies revenue to rise in the mid-to-high-single-digits, with its defense operating profit ranging from $1 billion to $1.3 billion. In early March, GE Aerospace adjusted its 2025 revenue outlook to low double-digit growth. It also forecasts an operating profit of roughly $7.3 billion as the midpoint for the year, to reach an operating profit of $10 billion in 2028. GE Aerospace plans to deliver approximately 70% to 75% of cash to shareholders through dividends and share buybacks, including an initial dividend payout at 30% of net income, subject to board approval, and $15 billion in share buybacks. TD Cowen upgraded GE stock to buy from hold on April 9, citing GE Aerospace's commercial aftermarket prospects in light of Boeing production issues. Over 50% of GE Aerospace sales and 75% of its profits come from the commercial aerospace aftermarket following the spinoff. The firm raised its price target on GE shares to $180 from $175. NYSE:GE stock has rallied 4.6% early Tuesday. Shares rose 1.4% Monday, bouncing off their 21-day exponential moving average. NYSE:GE stock jumped 37% in 2024 leading up to the April 2 spinout. GE Aerospace stock saw a nearly 54% increase so far this year and is trading at its highest level since July 2016.
NYSE:GELong
by DEXWireNews
General Motors Surges 5% on First Quarter ResultsGeneral Motors ( NYSE:GM ), the Michigan-based automaker, exceeded Wall Street's predictions and raised its annual forecast in its first-quarter report, citing stable pricing and demand for its gas-engine vehicles. The company increased its adjusted pretax profit projection to $12.5 billion to $14.5 billion, from its previous range of $12 billion to $14 billion for the year. GM's net income for the first quarter increased by 24.4% over the year-ago period to $3 billion, with the automaker reporting a 7.6% rise in revenue to $43 billion. Its adjusted earnings per share of $2.62 surpassed the average Wall Street target of $2.15, and revenue exceeded the Wall Street target of $41.9 billion in the March quarter. Investors were pleased with strong vehicle pricing for gasoline-powered trucks, which continue to generate substantial profit and free cash flow, according to Tim Piechowski, portfolio manager at ACR Alpine Capital Research in St. Louis. Despite GM's struggles in China and with electric vehicles, its truck and SUV business remains strong. GM's business in China, previously the automaker's largest market, has been declining, with Chinese automakers and Tesla gaining market share in the region through deep price cuts and refreshed technology offerings. NYSE:GM lost $106 million in China in the quarter, which CFO Jacobson explained to reporters was less than expected, as the company worked through inventory. GM's CEO, Mary Barra, faces two significant challenges ahead: turning around GM's shrinking sales in China and salvaging Cruise, its robotaxi unit. Cruise halted operations last year after one of its self-driving cars dragged a woman down a San Francisco street. Earlier this year, company officials announced that NYSE:GM would cut spending on this unit by $1 billion. The robotaxi business lost $2.7 billion last year, not including $500 million in restructuring costs incurred in the fourth quarter as the unit cut staff. GM spent $400 million on Cruise in the first quarter. GM's joint venture with LG Energy Solution, called Ultium Cells, is ramping up production of battery cells at plants in Ohio and Tennessee, as Barra noted. She also said that the company continues to see sequential and year-over-year improvements in profitability as it benefits from scale, material cost, and mix improvements. Both NYSE:GM and crosstown rival Ford Motor are relying on profit from gas-engine trucks to alleviate investors' concerns as they funnel cash into costly EV development. While GM has not broken out financial results for its EV business, CFO Jacobson maintained previous forecasts for turning a profit. He expects variable profit, which excludes fixed costs, to be positive by the second half of 2024. Tesla, the EV leader, recently laid off more than 10% of its global staff and slashed prices on its models across several markets. It is expected to post its first revenue drop and lowest gross margin in nearly four years, according to LSEG data. NYSE:GM outlined a $10 billion stock buyback last year after reaching a costly new labor agreement with the United Auto Workers union. The company announced that the first tranche of this was completed in the first quarter.
NYSE:GMLong
by DEXWireNews
General Motors (GM) Soars to New Heights Amidst Insider Sell-offGeneral Motors Company (NYSE: NYSE:GM ) has been dominating headlines recently, not only for its impressive stock performance but also for a notable insider sell-off by Executive Vice President Rory Harvey. Despite this sell-off, NYSE:GM 's stock surged to a fresh 52-week high, reaching $43.06 in the previous session. Insider Sell-off Amidst Record Highs: The recent insider sell-off by Executive Vice President Rory Harvey, who offloaded 5,100 shares of NYSE:GM , might raise eyebrows among investors. However, it's essential to put this transaction into context. Insider selling is not uncommon, and it doesn't always signal a lack of confidence in the company's future prospects. Instead, it could simply be a strategic move by an executive to diversify their portfolio or address personal financial needs. Record-Breaking Performance: Despite the insider sell-off, NYSE:GM 's stock has been on a remarkable uptrend, surging 8.5% over the past month alone. This surge has propelled the stock to new heights. The company's stock has gained 19.3% since the beginning of the year, showcasing its resilience amidst broader market volatility. Earnings Beat and Future Projections: GM's stellar performance is underpinned by its robust financials and consistent earnings beats. The company has a stellar track record of surpassing earnings consensus estimates, having not missed expectations in the last four quarters. In its most recent earnings report, NYSE:GM reported an EPS of $1.24, comfortably beating the consensus estimate of $1.12. Moreover, its revenue also exceeded expectations, further bolstering investor confidence. Looking ahead, analysts remain bullish on NYSE:GM 's prospects, with expectations of continued growth. For the current fiscal year, NYSE:GM is projected to post earnings of $9 per share on revenues of $174.98 billion, representing a substantial increase in EPS and revenues. Similarly, for the next fiscal year, the company is expected to deliver solid earnings growth, further cementing its position as a market leader. Valuation and Investment Outlook: While GM's stock may be trading at a 52-week high, valuation metrics suggest that the company still has room to run. With a Value Score of A and strong Momentum Score, NYSE:GM appears to be attractively priced relative to its growth prospects. Investors should consider the company's strong fundamentals, consistent earnings performance, and positive outlook when evaluating its investment potential. In conclusion, General Motors' ( NYSE:GM ) impressive performance and bullish outlook make it a compelling investment opportunity, despite the recent insider sell-off. With robust financials, consistent earnings beats, and favorable valuation metrics, NYSE:GM is well-positioned to sustain its momentum and deliver long-term value to investors.
NYSE:GM
by DEXWireNews
General Motors (GM): Charting a Course for SuccessGeneral Motors (GM): NYSE:GM General Motors has been added to our portfolio, starting our chart analysis from the COVID-19 low at $14.33. Since then, we've developed an overarching Wave (1) in blue and have also already completed Wave (2) at $26.30, characterized by an Expanded Flat and Zigzag correction. We are now in the midst of the overarching Wave (3), which is expected to exceed both Wave (1) and the local high of $67.06. The 4-hour chart provides a clearer view, indicating that we are currently near the conclusion of a circled Wave (i). In the coming weeks, we may see a downtrend towards Wave (ii), where the price should stabilize between the 50% and 78.6% retracement levels. The exact positioning of this phase is yet to be determined. Upon the first sign of weakness, we plan to place a limit order.
NYSE:GMLong
by freeguy_by_wmc
Turbulence in GM's Cruise: Leadership Exodus and the Road AheadGeneral Motors' ( NYSE:GM ) autonomous driving subsidiary, Cruise, finds itself navigating choppy waters yet again as the departure of Carl Jenkins, the head of hardware, marks another significant exit from the company. Jenkins' resignation, announced amid a series of departures since the suspension of U.S. operations in October, underscores the challenges facing Cruise in its quest for self-driving technology supremacy. Jenkins, a stalwart of the autonomous vehicle (AV) industry with six years at Cruise, leaves behind a void in the development of crucial hardware components, including microchips and sensors. His departure follows the suspension of operations triggered by a tragic incident in San Francisco, where a pedestrian was fatally struck by a self-driving Cruise vehicle, prompting California authorities to suspend the company's permit for driverless vehicles. The aftermath of the accident saw Cruise's then-CEO, Kyle Vogt, and co-founder Dan Kan resign, signaling a leadership shakeup. Now, with Jenkins' exit, questions arise about the stability of Cruise's leadership and its ability to regain momentum in the fiercely competitive AV landscape. Mo Elshenawy, Cruise's Co-President, acknowledged Jenkins' departure in an internal communication, emphasizing the critical role of the autonomous vehicles platforms team in Cruise's efforts to resume testing. However, neither Jenkins nor Elshenawy provided a reason for the departure, leaving stakeholders speculating about underlying issues within the organization. The timing of Jenkins' resignation, amid ongoing regulatory scrutiny and public skepticism surrounding self-driving technology, amplifies concerns about Cruise's future trajectory. With competitors such as Waymo and Tesla making significant strides in the AV space, Cruise faces mounting pressure to demonstrate its commitment to safety and innovation. Yet, amidst the turbulence, Elshenawy strikes an optimistic tone, highlighting Cruise's position in a transitional phase as an opportunity for redefinition and growth. However, the road ahead remains fraught with challenges, from rebuilding public trust to addressing regulatory concerns and ensuring the seamless integration of hardware and software components. As Cruise navigates these complexities, stakeholders, including investors and consumers, will be closely watching how the company adapts and evolves in the face of adversity. Jenkins' departure serves as a stark reminder of the hurdles inherent in pioneering autonomous technology and underscores the imperative for Cruise to chart a course towards a safer, more sustainable future for self-driving vehicles. In the wake of Jenkins' resignation, the onus is on Cruise's leadership to instill confidence, foster innovation, and steer the company towards its vision of a world where autonomous vehicles redefine mobility. Only time will tell whether Cruise can weather the storm and emerge stronger on the other side. Through strategic decision-making and a steadfast commitment to its mission, Cruise must prove that setbacks are but temporary detours on the road to revolutionizing transportation. As the AV industry continues to evolve, Cruise's ability to navigate uncertainty and stay the course will determine its legacy in shaping the future of mobility.
NYSE:GM
by DEXWireNews
General Motors Navigates Challenges, Sees Bright Spots in 2024 General Motors ( NYSE:GM ) is making headlines after a roller-coaster ride in the fourth quarter of 2023, marked by a 9.50% surge in premarket trading on Tuesday. Despite a 41.5% decline in adjusted earnings and a slight drop in revenue, the automotive giant's positive outlook for 2024 and strategic moves have caught the attention of investors. We'll delve into the key factors shaping GM's current trajectory and explore what lies ahead for the company. Q4 Performance and Hurdles: NYSE:GM 's Q4 report showed a 41.5% decline in adjusted earnings to $1.24 per share, the first drop in five quarters, attributed to factors such as unsold electric vehicles and a 40-day strike. However, these results were less severe than expected, with FactSet analysts predicting a 45% decline to $1.16 per share. The impact of unsold EVs led to a $1.6 billion charge, and an additional $800 million charge was tied to the recall of Chevy Bolt batteries. Promising U.S. and China Deliveries: Despite the challenges, NYSE:GM delivered 2.6 million vehicles in the U.S. during 2023, boasting a 14% YoY increase. The company claimed a 16.2% total market share in the United States for 2023. Furthermore, NYSE:GM and its joint ventures delivered 2.1 million cars to China, underlining the global reach of the automaker. Strategic Moves and Shareholder Returns: NYSE:GM 's management outlined a positive outlook for 2024, emphasizing a resilient U.S. economy and continued demand for vehicles. The company aims to capitalize on strong demand for combustion trucks and SUVs in North America, cost-cutting initiatives, and the increasing sales of its new generation of electric vehicles. In a bid to reward shareholders, NYSE:GM has already returned $12 billion in 2023 through a $10 billion share buyback and a 33% dividend increase. The company pledged to "consistently return excess free cash flow to shareholders" and outlined a forecast of adjusted pre-tax profits in the range of $12 billion to $14 billion for 2024. Electric Vehicle Focus: NYSE:GM is banking on the growing popularity of electric vehicles, with plans to increase overall EV sales to 10% of the U.S. market in 2024, up from 7% in 2023. The company's Chief Financial Officer, Paul Jacobson, expressed confidence that GM's electric vehicle operations would start generating variable profit by the second half of the year. Cruise Unit Challenges and China Market Dynamics: While NYSE:GM faces challenges in its Cruise robo-taxi unit, marked by a $1 billion spending cut and an external law firm's report faulting Cruise management's response to an incident, the company aims to refocus and relaunch Cruise. Meanwhile, in China, NYSE:GM acknowledges deepening challenges with domestic automakers and Tesla gaining share. The company expects a loss for the current quarter in the Chinese market. Conclusion: General Motors' ( NYSE:GM ) journey through Q4 2023 reflects a mix of challenges and promising innovations. As the automotive industry undergoes transformative shifts towards electric vehicles, NYSE:GM 's strategic moves and positive outlook for 2024 position the company for a dynamic year ahead. Investors will be watching closely as NYSE:GM navigates the evolving landscape, capitalizing on strengths and addressing challenges to drive future growth.
NYSE:GMLong
by DEXWireNews
GM General Motors Company Options Ahead of Earnings If you haven`t bought the dip on GM before the previous earnings: Then analyzing the options chain and the chart patterns of GM General Motors Company prior to the earnings report this week, I would consider purchasing the 35usd strike price at the money Puts with an expiration date of 2024-4-19, for a premium of approximately $1.85. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NYSE:GMShort
by TopgOptions
General Motors (NYSE: $GM) Announces $10B Share Buy-backGeneral Motors (GM) stock increased by 10.7% on Wednesday after the company announced plans to increase shareholder returns. The automaker announced: 1. A $10 billion accelerated share buyback program 2. A 33% increase in its common stock dividend beginning in 2024 3. Reinstatement of its 2023 earnings guidance 4. The dividend will increase to $0.12 per quarter. General Motors expects net income in the range of $9.1 billion to $9.7 billion. General Motors Outlook Scaling back on its EV and driverless vehicle ambitions. Navigating higher labor costs due to a new union contract with the United Auto Workers. Finalizing a 2024 budget that will offset the costs of new labor agreements Reducing capital intensity, developing products more efficiently, and reducing fixed and variable costs. GM is only recently emerging from the six-week strike that cost the company more than $1.1 billion during the third and fourth quarters. GM lost more than 31,000 units of production, more than competitors Ford and Stellantis. Despite Wednesday's jump, GM stock is down 5.56% year to date. Technical Analysist The 10-day chart shows that GM stock has been fluctuating between a low of $26.30 on November 20 and a high of $31.75 on November 30. The stock has experienced some volatility due to various factors, such as the global chip shortage, the electric vehicle competition, and the regulatory and safety challenges of its self-driving subsidiary Cruise. Price Momentum General Motors (NASDAQ: GM) is trading in the middle of its 52-week range and below its 200-day simple moving average. Investors are still evaluating the share price, but the stock still appears to have some downward momentum.
NYSE:GMLong
by DEXWireNews
General Motors (NASDAQ: $GM) Announces $10B Share Buy-backGeneral Motors (GM) stock increased by 10.7% on Wednesday after the company announced plans to increase shareholder returns. The automaker announced: 1. A $10 billion accelerated share buyback program 2. A 33% increase in its common stock dividend beginning in 2024 3. Reinstatement of its 2023 earnings guidance 4. The dividend will increase to $0.12 per quarter. General Motors expects net income in the range of $9.1 billion to $9.7 billion. General Motors Outlook Scaling back on its EV and driverless vehicle ambitions. Navigating higher labor costs due to a new union contract with the United Auto Workers. Finalizing a 2024 budget that will offset the costs of new labor agreements Reducing capital intensity, developing products more efficiently, and reducing fixed and variable costs. GM is only recently emerging from the six-week strike that cost the company more than $1.1 billion during the third and fourth quarters. GM lost more than 31,000 units of production, more than competitors Ford and Stellantis. Despite Wednesday's jump, GM stock is down 5.56% year to date. Technical Analysist The 10-day chart shows that GM stock has been fluctuating between a low of $26.30 on November 20 and a high of $31.75 on November 30. The stock has experienced some volatility due to various factors, such as the global chip shortage, the electric vehicle competition, and the regulatory and safety challenges of its self-driving subsidiary Cruise. Price Momentum General Motors (NASDAQ: GM) is trading in the middle of its 52-week range and below its 200-day simple moving average. Investors are still evaluating the share price, but the stock still appears to have some downward momentum.
NYSE:GMLong
by DEXWireNews
General Motors Surges on Dividend Boost, $10 Billion BuybackGeneral Motors (NYSE: GM) - shares powered higher Today after the carmaker updated its profit guidance following the United Autoworkers Union strike while unveiling plans to boost its quarterly dividend and buyback $10 billion in stock. General Motors said the six-week UAW strike, which ended late last month, would clip around $1.1 billion from the group's bottom line, but would ultimately improve free cash flows thanks in part to strike-related shutdowns at various facilities around the country. GM said it now sees full-year adjusted profits in the region of $11.7 billion to $12.7 billion, down from its prior forecast of $12 billion to $14 billion. Diluted earnings, GM said, would likely come in between $7.20 and $7.70 per share, compared to its prior range of between $7.15 and $8.15 per share. The carmaker also said it would boost its quarterly dividend by 33%, to 12 cents per share, starting in 2024 while immediately retiring $6.8 billion in GM stock through its new $10 billion buyback. GM's free cash flow forecast was lifted to between $10.5 billion and $11.5 billion, a $2.5 billion boost from the higher end of it pre-strike forecast. Price Momentum GM is trading in the middle of its 52-week range and below its 200-day simple moving average. What does this mean? Investors are still evaluating the share price, but the stock still appears to have some downward momentum. This is a Neutral sign for the stock's future value.
NYSE:GMLong
by DEXWireNews
GM General Motors Company Options Ahead of EarningsIf you haven`t bought GM ahead of the previous earnings: Then analyzing the options chain of GM General Motors Company prior to the earnings report this week, I would consider purchasing the 30usd strike price Calls with an expiration date of 2023-12-15 for a premium of approximately $1.77. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. I am interested to hear your thoughts on this strategy.
NYSE:GMLong
by TopgOptions
GENERAL MOTORS Confirmed buy signal.General Motors Company (GM) has completed 3 days of trading above the 4H MA50 (blue trend-line), with the 4H RSI almost 60.00. The long-term pattern is a Triangle and the recent Double Bottom was within the Higher Lows Zone that is in place since July 05 2022. Every time the price broke above the 4H MA50 after a 4H RSI oversold bounce on Higher Lows, we had a low risk buy entry at our hands. There is a 12-month Resistance Zone that we should revisit on the long-term but on the more short/ medium-term we will target the 0.786 Fibonacci retracement level at 39.00, which was the targeted extension on the Lower Highs trend-line during the July High. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:GMLong
by TradingShot