All articles tagged with #shares surge
General Motors raised its annual profit forecast due to tariff relief and reduced losses on electric vehicles, leading to a 14% surge in shares, its best day in six years, amid strong quarterly earnings and optimistic outlooks for 2026.
Krispy Kreme's shares surged 23% as it announced a partnership with McDonald's to make its donuts available in all U.S. restaurants by the end of 2026, following a successful pilot project in Kentucky. The phased roll-out will begin in the second half of 2024, and Krispy Kreme will exclusively supply its donuts to McDonald's until December 31, 2026. This move is part of Krispy Kreme's strategy to expand its presence in quick-service restaurants and grocery stores globally. McDonald's, aiming to open 10,000 restaurants by 2027, has faced challenges with weak overseas demand and tough economic conditions in China.
Estee Lauder plans to cut 3% to 5% of its global workforce due to squeezed margins from reduced demand for luxury products in China, leading to a surge in shares. The company witnessed a small reduction in market share in China and expects to incur charges before taxes. Its annual profit forecast was also lowered for the second time as U.S. business slowed down, while L'Oreal's shares have outperformed Estee Lauder's stock since 2022.