Shares of GM (GM) - Get General Motors Company Report rose 2.5% Friday as investors anticipate an end to the impasse between the company and more than 45,000 striking auto workers in the United Auto Workers union.
The strike has lasted 40 days and has cost the company $2 billion, according to some estimates. About half of the eligible workers voted on a deal Thursday, and Automotive News reported that about 55% of remaining voters would have to vote "no" for the deal not to pass.
Meanwhile, over at Tesla (TSLA) - Get Tesla Inc Report , shorts are feeling the pain for a second straight session as the stock jumped another 9.5% after rising more than 15% during Thursday's session following its earnings release.
Shorts are estimated to have lost $1.5 billion in value during Thursday's session. Those losses were compounded on Friday.
Earnings per share was an adjusted $1.82, against analysts expectation of 42 cents.
And while investors and many analysts cited the dramatically lower costs as a reason for optimism on future profitability, there was one glaring issue.
Save 57% during our Halloween Sale.Don't let this market haunt you; join Jim Cramer's Investment Club, Action Alerts PLUS. Click here to sign up!
Bull Market Fantasy: LIVE TUESDAY & THURSDAY @10:45AM
Catch Up: Today's Top News Videos Below