General Motors Drops, GE Aerospace Falls, Hasbro Jumps
Today's biggest winners and losers in the stock market. On this episode of Stock Movers: General Motors Co. (GM) shares fell as shareholders focused on a narrower profit outlook despite plans for another $20 billion in stock repurchases. GM's board approved the new round of buybacks, which will be funded on an ongoing basis over a multi-year period of time, adding to the $29.5 billion already spent by the company buying back its shares since 2023. GE Aerospace (GE) shares drop as much as 5.5%, the most intraday since July 16, after higher full-year profit guidance from the jet-engine maker failed to impress investors. Though the outlook for adjusted earnings per share topped analyst estimates, it implied that the fourth quarter will come in below their expectations. Hasbro (HAS) stock is surging nearly 10% Tuesday afternoon, driven by sales of Magic: The Gathering, as well as hiked full-year revenue growth expectations. The company has diversified beyond physical toys into digital games, creating a cushion as lingering tariffs and surging fuel prices drive up toy prices and pressure toymakers' margins. See omnystudio.com/listener for privacy information.