Diamonds and Dogs

10/22/24

General Motors (GM) is the diamond of the day up 10% after easily beating estimates as revenue rose 10% to $48.76 billion. GM also raised third-quarter expectations and full-year guidance thanks to strong demand for their GMC Yukon and Chevy Silverado. The company also said its getting closer to profitability on their EV cars.

Profit-taking in Lockheed Martin (LMT). The defense contractor is down 6% even though they posted strong earnings and raised guidance. The one blemish was revenue rose just 1.3% to $17.10 billion. The company has a huge backlog of business worth $165 billion. Lockheed is also continuing to spend billions on buybacks while hiking their dividend 5%, marking 22 years of consistent hikes.