GM Stock Soars Nearly 15% on Strong Quarterly Results

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GM Stock Soars Nearly 15% on Strong Quarterly Results
Photo: Paul Sancya/AP/TT

Development was mixed on the New York stock exchange on Thursday, but car giant General Motors surged nearly 15 percent.

The increase came after GM reported a quarterly result that was better than the analysts had predicted and also raised the forecast for the company's full-year result. The losses in the electric car business will also decrease next year, according to CEO Mary Barra.

Another winner was Warner Bros Discovery, up 11 percent, after the entertainment giant announced that it is considering several alternatives for the future, in addition to the previously announced division of the company into two parts. Warner Bros Discovery said that "several players" have shown interest in buying the entire company or its film business.

The broad S&P 500 index closed unchanged, the Dow Jones industrial index rose 0.5 percent and Nasdaq's technology-heavy composite index fell 0.2 percent.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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