GM's stock soars after the automaker reports better than expected earnings for the third quarter.
plus why Warner Brothers Discovery is exploring a sale.
There is so much uncertainty about where the audience is going and how best to capture that audience and advertisers and the people who run these big companies naturally feel that they need to be bigger to compete.
And what's behind a surge in renters turning to fraud to apply for luxury apartments?
It's Tuesday, October 21st.
I'm Alex Osela for The Wall Street Journal.
This is the PM edition of What's News,
the top headlines and business stories that move the world today.
General Motors shares soared after its latest quarterly results.
The automaker's third quarter was surprisingly strong, even with the pain of tariffs,
a slowing electric vehicle market, and supply crunches.
GM said it is making faster than expected progress, reducing a multi-billion dollar tariff bill.
Speaking on this morning's earnings call,
GM CEO Mary Barra said the company is also moving quickly to downsize its money-losing electric vehicle business.
By acting swiftly and decisively to address overcapacity,
we expect to reduce EV losses in 2026 and beyond,
making us much better positioned as demand stabilizes.
Net income plunged by more than half in the quarter,
but an adjusted income figure exceeded Wall Street's estimates,
and the automaker raised its guidance.