Market Overview

General Motors Surrenders All Of Its Early Gains


General Motors Company (NYSE: GM) shares are unchanged at $34.55 in Friday's session.

Before the open, the company reported a Q1 beat of $0.24 along with a $1.35 billion beat for revenues. The company sees FY 2017 EPS guidance in the $6.00-$6.50 range vs. $6.01 estimates.

This is the eighth consecutive quarter the company has beat for EPS and for the seventh time in a row for revenues.

After a higher open, GM's stock continued in that direction before peaking at $35.29 and reversing course. That marks the highest level for the issue since it peaked at $35.40 on April 3.

It has continued to make new lows for the session, with the current one standing at $34.42. If the decline continues, there may be additional support at the pair of lows at $33.95 from Wednesday and Thursday's sessions.

Posted-In: Technicals Intraday Update Movers Trading Ideas


Related Articles (GM)

View Comments and Join the Discussion!