GM stock slumps after earnings warning, as chip shipment timing and supply chain disruptions weigh
Shares of General Motors Co.
dropped 1.7% in premarket trading Friday, after the automaker warned of a second-quarter earnings shortfall, as vehicle wholesale volumes were hurt by the timing of semiconductor shipments and other supply chain disruptions. The company expects net income for the quarter to June 30 to be between $1.6 billion and $1.9 billion, well below the FactSet consensus of $2.46 billion. The company affirmed its full-year…