‘ Foot Locker (FL) Receives Upgrade and Positive Outlook for 2024\n\nShares of footwear and apparel retailer Foot Locker (NYSE:FL) saw a 5.7% jump in the morning session on Thursday after Piper Sandler analyst Abbie Zvejnieks upgraded the stock from Neutral to Overweight (Buy) and raised the price target from $24 to $33. This upgrade is based on anticipated benefits from leaner inventories at year-end, enabling Foot Locker to introduce trendy styles in 2024. Zvejnieks also highlighted the expansion of non-Nike products, which is expected to offset challenges stemming from Nike’s business “reset” with Foot Locker.\n\nThe market’s reaction to this news indicates that it is considered meaningful, although it may not fundamentally change its perception of the business. This is in line with the stock’s average volatility, with only 22 moves greater than 5% in the last year. The previous big move was 15 days ago, when the stock gained 8.2% on the news of better-than-expected third quarter results and a multi-year deal with the NBA.\n\n A 16.1% decline since the beginning of the year, Foot Locker’s stock is still trading 33.3% below its 52-week high. Piper Sandler’s upgrade and positive outlook for 2024 suggest a potential recovery for the company. Other analysts have also expressed optimism, with Morgan Stanley upgrading Six Flags (SIX) and Barclays upgrading General Motors (GM).\n\nIn a the upgrade and positive outlook for 2024 have caught the attention of the market, with analysts expressing confidence in Foot Locker’s potential for growth.’

General Motors Announces Layoffs and Changes Amidst Production Delays\n\nGeneral Motors (GM) has recently made significant changes to its production plans, including delaying the production of electric pickup trucks and ending production of the Camaro muscle car. These changes have resulted in layoffs at two of its Michigan plants and changes within its self-driving vehicle unit, Cruise. The company stated that these decisions are part of its commitment to transparency and rebuilding trust. Affected employees will be offered jobs elsewhere within the company, and GM remains committed to its goal of transitioning to all-electric vehicles in the future.\n\nGM announced on Thursday that it will be laying off a total of 1,314 employees at two factories in Michigan. This decision comes as the company ends production of certain vehicles, according to the Detroit Free Press. The layoffs are expected to take place in January and March of next year, affecting workers at the Orion Assembly and Lansing Grand River plants. These cuts are related to GM's recent announcement of delaying production of two all-electric pickups and ending production of the Camaro muscle car. The company stated that it will offer affected employees jobs elsewhere within the company.\n\nIn addition to the layoffs, GM's self-driving vehicle unit, Cruise, also announced layoffs on Thursday morning. This move comes amid an ongoing safety investigation into its robotaxis, impacting nearly one in four employees. The company also recently let go of nine Cruise executives, including the Chief Operating Officer, as part of the safety probe. These changes come as GM announced a restructuring of its product development team and promoted new executives to lead the next phase of the company's growth strategy.\n\nGM's decision to lay off employees and make leadership changes is part of its commitment to transparency and rebuilding trust. The company stated that it is focused on operating with the highest standards when it comes to safety, integrity, and accountability. As a result, new leadership is necessary to achieve these goals. GM will offer affected employees jobs elsewhere within the company.\n\nThis news comes as GM has been making several changes to its production plans, including delaying the production of electric pickup trucks and abandoning a goal to build 400,000 EVs by 2024. The company's rival, Ford, has also been affected by the global chip shortage and announced temporary cuts to production. GM remains committed to its goal of stopping the sale of gas-powered vehicles by 2035.\n\nIn a General Motors has announced layoffs at two of its Michigan plants and changes within its self-driving vehicle unit, Cruise.