Nov. 29, 2023 12:58 pm ET
Common Motors’ much-trumpeted know-how bets haven’t labored out nicely these days. Satirically, that’s one purpose it will probably afford to attain a straightforward aim with buyers.
A so-called accelerated share repurchase value $10 billion is massive for a corporation that had a market worth of simply $40 billion earlier than the announcement. Some $6.8 billion of inventory—about 17% of the entire—might be canceled instantly, with the remainder following over the subsequent yr. Mechanically, that ought to enhance analysts’ forecasts for GM’s earnings per share subsequent yr by roughly 20%. The inventory rose about 10% Wednesday morning.
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