Diamonds and Dogs

11/29/23

GM (GM) is jumping 10% on renewed guidance, a dividend hike and a share buyback. Now that the labor strike is over, GM is reissuing guidance once again. The auto giant is also hiking their dividend 33% to 12 cents while announcing a share buyback for $10 billion or 23% of the outstanding shares.

Petco Health and Wellness (WOOF) is down 28% following disappointing results in its third-quarter. Missing estimates on the top and bottom lines and cut its guidance for the full year citing a challenging consumer environment following the pandemic-era boom.

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