General Motors announced an accelerated $10 billion share buyback program and a 33% increase in its quarterly dividend. The automaker estimates that the new labor deals following a lengthy US strike will cost it $9.3 billion. This move is seen as a bid to regain Wall Street's confidence and gain back investors' love. The UAW strike cost General Motors $1.1 billion, leading the company to cut spending, including on electric vehicles and its robotaxi unit Cruise. General Motors' stocks jumped 9.8% following the announcement. Ford, on the other hand, estimates that the new U.S. labor agreement with the UAW will cost the company $8.8 billion over the life of the contract and has taken a $1.7 billion profit hit from the strike. The company plans to cancel or postpone $12 billion in investments related to electric vehicles due to the added costs from the labor deal.
WATCH: From a record spending spree by US shoppers to a long-overdue delivery at Tesla, we round up the big stories in business and finance this week https://t.co/9HLslQTUbd
General Motors outlined a $10 billion share buyback program and a 33% dividend increase this week, even as it said the lengthy United Auto Workers strike will cost it $9.3 billion https://t.co/1L65zeaUk0
WATCH: From a long-overdue delivery at Tesla to General Motors plan for a major share buyback, we round up the big stories in business and finance this week https://t.co/ADt5HaH9In
Ford lost $1.7 billion in profits due to UAW strike, company estimates https://t.co/HpaVmSLLmD https://t.co/ixxi78rCWD
Ford lost $1.7 billion in profits due to UAW strike, company estimates https://t.co/c9gKQTRfho https://t.co/kCwStiz5ik
"Ford further confirmed on Thursday that the UAW deal is expected to add about $900 in costs per assembled vehicle by 2028.... The company said it plans to cancel or postpone $12 billion in investments related to electric vehicles." https://t.co/4mQEV93RpS
Ford takes $1.7 billion profit hit from UAW strike https://t.co/Pf19SztEww https://t.co/FyNGRa0WZe
Ford $F just said the UAW deal will cost the company $8.8 billion over life of the contract Ford reinstated its guidance calling for $10B to $10.5B in EBIT, and adjusted free cash flow of between $5B and $5.5B - CNBC
$F | Ford Says The New U.S. Labor Agreement With The UAW Is Expected To Cost $8.8B Over Life of the Contract - The Cost Effect Is Anticipated About $900 Per Vehicle By 2028 – Or About 60 Basis Points To 70 Basis Points Of Adjusted EBIT Margin
General Motors stocks jumped 9.8% as the automaker announced a $10 billion share buyback, a 33% dividend increase and 'substantially lower' spending at its robotaxi unit Cruise https://t.co/inzQxs32Dq https://t.co/jtqEmUPmDZ
WATCH: General Motors stocks jumped 9.8% as the automaker announced a $10 billion share buyback, a 33% dividend increase and 'substantially lower' spending at its robotaxi unit Cruise https://t.co/mOOPRsHkdY https://t.co/LNJ7m32i8B
General Motors announced it would initiate an accelerated $10 billion share buyback program and increase its quarterly dividend by 33% next year https://t.co/inzQxs32Dq https://t.co/xP6PzraiAV
WATCH: General Motors announced it would initiate an accelerated $10 billion share buyback program and increase its quarterly dividend by 33% next year https://t.co/mOOPRsGMoq https://t.co/fGyF3dtfep
WATCH: General Motors is giving more money back to its shareholders as it looks to gain back Wall Street’s confidence https://t.co/mOOPRsGMoq https://t.co/p7vNFUpI6R
General Motors estimates UAW strike cost company $1.1B https://t.co/n1ntpI7oSt https://t.co/BOQdSPIKEA
WATCH: General Motors said its new labor deals after a lengthy US strike will cost it $9.3 billion even as it outlined $10 billion in share buybacks, a 33% dividend increase https://t.co/mOOPRsHkdY https://t.co/LwWWdCVhab
General Motors said its new labor deals after a lengthy US strike will cost it $9.3 billion even as it outlined $10 billion in share buybacks, a 33% dividend increase https://t.co/inzQxs2uNS https://t.co/XGnkY5yvEB
General Motors' $10 billion buyback plan is a plea for time and a little bit of love from investors, says @liamdenning https://t.co/TCdf3qi3DR via @opinion
REVEALED: UAW strike cost General Motors $1.1 BILLION - and will cut spending, including on EVs and at Cruise, to absorb costs of new contract https://t.co/wEVGuHOwTp https://t.co/lGyoBevtGm
General Motors will boost its dividend by 33% and implement a $10 billion share buyback program https://t.co/o9FqdTd4Ur