Ford Motor on Thursday pegged the cost of a new labor deal at $8.8 billion and joined rival General Motors in cutting its full-year profit forecast due to lost production from a lengthy strike at its U.S. plants.
Regardless, even with the buybacks, their share price is still lower than when the strikes began.
This is key — GM would want to do a buyback if they think the stock is undervalued, which if they have a plan to deal with the additional costs, it is.
This is key — GM would want to do a buyback if they think the stock is undervalued, which if they have a plan to deal with the additional costs, it is.