GM crushes earnings on improving US, Chinese sales

Shares of GM surged on Tuesday morning after the carmaker reported earnings that topped expectations and raised its guidance for the third time this year. The stock was up 7.3% in early trading.

Earnings per share came in at $2.96, well above Wall Street’s estimate of $2.38. Sales for the quarter reached $48.8 billion and were up 10.5% from a year ago, topping estimates of $44.7 billion, according to FactSet.

In a letter to investors, CEO Mary Barra said that the company “grew U.S. retail market share with above-average pricing, well-managed inventories and below-average incentives,” while sales also improved in China.

More Markets

See all Markets

Tasha Matsumoto

Stocks climb higher as investors shake off hawkish Fed commentary

The S&P 500 and Nasdaq 100 continued their streak of monthly wins.

MADRID, SPAIN - JUNE 18: Actor Sacha Baron Cohen (C) attends "Bruno" photocall at Plaza de Toros de Las Ventas on June 18, 2009 in Madrid, Spain.

Western Digital Stock Rallies as Wall Street Raises Estimates

Western Digital rallies as Wall Street sees more gains ahead

Analysts responded to yesterday’s Western Digital earnings by rapidly ramping up price targets.

Matt Phillips8h

Luke Kawa

10h

December rate cut odds creep lower with Federal Reserve hawks out in full force

A cacophony of hawkish commentary.

Federal Reserve To Make Highly Anticipated Interest Rate Announcement This Week

J. Edward Moreno11h

Gene-editing stocks rally on Bloomberg report that FDA plans to fast-track approval process

Shares of biotechs working with gene-editing treatments rose after the industry’s top regulator told Bloomberg News that the Food and Drug Administration plans to publish a paper in early November outlining the agency’s new, faster approach to approving those treatments.

FDA Clears Way for Faster Personalized Gene Editing Treatments

Jon Keegan

11h

Amazon pulled off its monster quarter despite being left out of OpenAI’s tangle of deals

Amazon’s AWS revenue grew 20% year on year, and will hit $125 billion in capex for the year. CEO Andy Jassy said the 14,000 jobs cut weren’t about money, but about “culture.”

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.