20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
General Motors Company (NYSE:GM) has reportedly reversed its decision to lay off 1,245 workers from its facilities in São José dos Campos, São Caetano do Sul, and Mogi das Cruzes, located in São Paulo, Brazil.
The turn of events follows closely after a Brazilian labor court ruled against the American automotive giant's plea for a legal injunction to proceed with the job cuts, reported Reuters.
The labor union representing the workers, Sindmetal, has hailed the decision as a result of enduring a 13-day strike by the workforce, the report added. Representatives from General Motors are set to meet with union leaders on Monday to confirm the decision.
General Motors reached a tentative deal with the United Auto Workers on October 30, ending a six-week strike by the workers.
The deal included a 25% hourly pay increase and cost-of-living allowances over the four-and-a-half-year contract.
The company reported a third-quarter FY23 revenue of $44.13 billion, beating the analyst consensus estimate of $43.68 billion. Adjusted EPS of $2.28 beat the analyst consensus estimate of $1.88.
Price Action: GM shares closed higher by 3.37% at $29.77 on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!