markets

Max Knoblauch1/27/26

GM posts a solid Q4 beat, gives higher-than-expected guidance, and announces a $6 billion stock buyback

Detroit automaker GM reported its fourth-quarter and full-year earnings results on Tuesday. Its shares climbed more than 5% in premarket trading.

The company, which leads the US in auto sales, guided for adjusted earnings of between $11 and $13 per share in 2026, with a midpoint just modestly ahead of the $11.94 per share expected by Wall Street analysts polled by FactSet. GM forecast adjusted automotive free cash flow of between $9 billion and $11 billion in the year ahead, compared to estimates of $9.8 billion.

In its fourth quarter, GM posted adjusted earnings of $2.51 per share, beating the $2.25-per-share estimate. In its Q4 sales report, GM said EV sales dropped 43% in the quarter amid an industry-wide pullback due to the end of federal tax credits. Total sales fell 7% year over year in the quarter, but climbed 6% for the full year.

The automaker also announced a new $6 billion stock buyback program, and said it would raise its quarterly dividend 20% to $0.18 per share.

Earlier this month, GM said it would take a $6 billion write-down on its EV business in the fourth quarter. Its rival Ford announced a $19.5 billion write-down for similar reasons in December.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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