RBC Capital anticipates a relief rally for the D-3 automakers Ford (F), GM (GM) and Stellantis (STLA) along with their suppliers Dana (DAN), American Axle (AXL), and Magna (MGA) after Ford had confirmed a tentative agreement with the UAW last night. The firm adds that Stellantis and GM talks are expected to occur tomorrow. Assuming everything is resolved today and tomorrow, this year’s strike would have lasted for almost 6 weeks – about the same duration as the 2019 strike – but because the strike was spread out across all 3 OEMs, unlike 2019 when UAW targeted GM, the impact is more modest for each OEM, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on GM:
- Down 50% from Highs, Tesla Stock (NASDAQ:TSLA) is Still Bearish
- General Motors Stock (NYSE:GM): Cruise Stops All Driverless Robotaxis
- Ford (NYSE:F) and UAW End Strike, Workers Return to Plants
- General Motors (NYSE:GM) Turns Up despite Cruise Disaster
- General Motors call volume above normal and directionally bullish
