GM's stock surges after upbeat profit outlook
Shares of General Motors Co. shot up 5.6% in premarket trade Friday, after the automaker said it expects 2018 earnings and adjusted free cash flow to beat expectations and provided an upbeat 2019 outlook. The FactSet consensus for 2018 adjusted EPS is $6.24. The automaker said it expects 2019 adjusted EPS of $6.50 to $7.00, above the FactSet consensus of $5.92. GM said it expects and adjusted automotive free cash flow of $4.5 billion to $6.0 billion. GM is expected to report fourth-quarter and full-year results in early February. "We will continue to strengthen our core business and invest in the technologies that will transform the future of mobility," said Chief Executive Mary Barra. GM said Cadillac will be its lead electric vehicle brand, and will introduce the first "all-battery" vehicle. The stock has hiked up 7.5% over the past three months, while the Dow Jones Industrial Average has lost 4.2%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.