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Panorama Internazionale

11 GENNAIO 2019

19:54 - Stati Uniti

GM BUCKS GLOOMY EARNINGS FORECAST TREND, SHARES JUMP

(ICE) - ROMA, 11 GEN -

Detroit - General Motors Co executives on Friday bucked gloomy forecasts for growth and sent the automaker's shares soaring, promising investors stronger 2019 earnings and outlining ambitious plans for its Cadillac brand to challenge Tesla Inc in the growing electric vehicle market. The market cheered GM's forecast, sending the company's stock up nearly 9 percent even as Tesla shares slipped. 

"We're very much looking forward to the execution of what they've announced," Tim Piechowski, portfolio manager with ACR Alpine Capital Research, which owns GM shares. BULLISH EARNINGS OUTLOOK. GM said it expects 2019 adjusted earnings per share in the range of $6.50 to $7.00, above the $5.86 expected by analysts according to IBES data from Refinitiv. GM said it also expects 2018 earnings per share to come in above its previous forecast.

https://www.reuters.com/article/us-gm-outlook/gm-bucks-gloomy-earnings-forecast-trend-shares-jump-idUSKCN1P51KV (ICE CHICAGO)