General Motors (GM) shareholders showed just how happy they were with the company?s news Wednesday morning that it was reinstating its full-year guidance as well as engaging in a $10 billion share buyback plan.

The company suspended its full-year financial guidance after it reached a tentative deal with the United Automobile Workers (UAW), as it needed to figure out just how much the walkout cost ? and what the new 4.5-year deal will cost. Officials figured out the strike cost GM $1.1 billion, which was not enough to derail the company?s profitability for 2023.

After announcing the reinstatement of its full-year 2023 earnings guidance, a $10 billion accelerated share repurchase (ASR) program, and its intention to increase its common stock dividend by 33% beginning the first quarter of 2024 ? from 9 cents to 12 cents a quarter ? the stock started moving.
The company?s stock jumped more than 6% in pre-market trading after closing Tuesday at $28.89 a share. It was trading at $30.75 within an hour of the release of the news, at about 6:30 a.m. EST. It has continued to rally since then, opening the day at $31.87 and rising into the low $32 range, good for an 11% bump.

What?s All the Fuss"

The automaker now predicts full-year adjusted profits in the region of $11.7 billion to $12.7 billion, down from its prior forecast of $12 billion to $14 billion. Diluted earnings, GM said, would likely come in between $7.20 and $7.70 per share, compared to its prior range o...