Diamonds and Dogs
General Motors (GM) raises guidance to start the New Year. GM is trading up 7% to a one month high after raising earnings and cash flow numbers. The company said it expects adjusted automotive free cash flow in 2019 to come in between $4.5 billion and $6 billion. GM forecast 2019 adjusted earnings per share in the range of $6.50 to $7.00, above the $5.86 expected by analysts. The CEO continues to see strength in their core businesses and invest in technologies that will transform the future of mobility. A good star to the New Year.
Weight Watchers (WTW) taking a hit. The diet company stock is down 9% today and down 70% from the summer highs as demand slows. JP Morgan slashed their price target to $37 to $70 citing indications of a weak start to the New Year Resolution enrollment period, which is the key sign up period of the year. The analyst went on to say the current trends will make it difficult for the company to generate significant growth in members. They may have to bring back Oprah Winfrey.
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