{"id":73300,"date":"2026-10-20T08:38:18","date_gmt":"2026-10-20T12:38:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gm-and-rtx-lead-market-gains-on-massive-buyback-and-record-backlog\/73300\/"},"modified":"2026-10-20T08:38:18","modified_gmt":"2026-10-20T12:38:18","slug":"gm-and-rtx-lead-market-gains-on-massive-buyback-and-record-backlog","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gm-and-rtx-lead-market-gains-on-massive-buyback-and-record-backlog\/73300\/","title":{"rendered":"GM and RTX Lead Market Gains on Massive Buyback and Record Backlog"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>General Motors (<a href=\"\/stock\/GM\">GM<\/a>)<\/strong> authorized a massive <strong>$20 billion share repurchase program<\/strong>, aimed at retiring approximately <strong>25-27.5% of its outstanding shares<\/strong>, alongside a <strong>20% dividend hike<\/strong>.<\/li>\n<li><strong>RTX Corporation (<a href=\"\/stock\/RTX\">RTX<\/a>)<\/strong> shares rose after the company reported a <strong>record $340 billion backlog<\/strong> and raised its full-year 2026 guidance for the third time this year.<\/li>\n<li><strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>)<\/strong> announced new <strong>American Manufacturing Program<\/strong> partners for the <strong>iPhone 18 Pro<\/strong> and <strong>iPhone Duo<\/strong>, focusing on domestic titanium and camera technology.<\/li>\n<li><strong>Salesforce (<a href=\"\/stock\/CRM\">CRM<\/a>)<\/strong> reached a definitive agreement to acquire <strong>Braze (<a href=\"\/stock\/BRZE\">BRZE<\/a>)<\/strong> for approximately <strong>$5.66 billion<\/strong> in enterprise value to bolster its customer engagement platform.<\/li>\n<li><strong>US ADP Weekly Employment<\/strong> data showed private hiring slowed to <strong>18,500<\/strong> for the week ending Oct. 3, down from a revised <strong>26,000<\/strong> in the prior week.<\/li>\n<\/ul>\n<h2>Automotive and Aerospace Giants Drive Sentiment<\/h2>\n<p>General Motors (<a href=\"\/stock\/GM\">GM<\/a>) dominated <a href=\"https:\/\/stockmarketwatch.com\/movers\/premarket\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market<\/a> headlines by unveiling a <strong>$20 billion share buyback<\/strong> authorization, one of the largest in the history of the Detroit automaker. The company also increased its quarterly dividend by <strong>20% to $0.18 per share<\/strong> and raised its 2026 adjusted automotive free cash flow guidance to a range of <strong>$11.5 billion to $12.5 billion<\/strong>. Despite the robust capital return plan, shares saw an initial <strong>7.5% decline<\/strong> as investors weighed the aggressive buyback against broader industry challenges.<\/p>\n<p>RTX Corporation (<a href=\"\/stock\/RTX\">RTX<\/a>) reported a significant beat on both top and bottom lines, with adjusted EPS of <strong>$2.26<\/strong> surpassing the <strong>$1.78<\/strong> consensus. The aerospace leader&#39;s <strong>$340 billion backlog<\/strong> provides years of revenue visibility, leading management to lift its full-year adjusted EPS outlook to <strong>$7.65\u2013$7.75<\/strong>. The stock gained <strong>1.5%<\/strong> in <a href=\"https:\/\/stockmarketwatch.com\/movers\/premarket\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market trading<\/a> following the news.<\/p>\n<h2>Tech M&amp;A and Manufacturing Shifts<\/h2>\n<p>Salesforce (<a href=\"\/stock\/CRM\">CRM<\/a>) announced it will acquire Braze (<a href=\"\/stock\/BRZE\">BRZE<\/a>) for <strong>$47.50 per share<\/strong> in cash, valuing the enterprise at roughly <strong>$5.66 billion<\/strong>. The deal is designed to integrate Braze&#39;s advanced customer engagement tools into the Salesforce ecosystem. In the hardware sector, Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) revealed it is expanding its <strong>American Manufacturing Program<\/strong> by partnering with <strong>Perryman Company<\/strong> for titanium and <strong>Qnity Electronics<\/strong> for new variable aperture camera systems for the <strong>iPhone 18 Pro<\/strong>.<\/p>\n<p>Activist investor <strong>Starboard Value<\/strong> has reportedly built a stake worth several hundred million dollars in <strong>Solstice Advanced Materials (<a href=\"\/stock\/SOLS\">SOLS<\/a>)<\/strong>. The firm is pushing for <strong>$100 million in cost reductions<\/strong> and a sharper focus on core refrigerants and nuclear businesses following Solstice&#39;s failed merger with Element Solutions. Shares of SOLS rose <strong>3%<\/strong> on the disclosure.<\/p>\n<h2>Industrial Earnings and Economic Indicators<\/h2>\n<p>3M Company (<a href=\"\/stock\/MMM\">MMM<\/a>) shares climbed <strong>1.2%<\/strong> after the conglomerate beat profit expectations and raised its full-year EPS guidance to <strong>$9.10\u2013$9.15<\/strong>. The company highlighted strong productivity gains and a new commercial warrant agreement with <strong>Amazon (<a href=\"\/stock\/AMZN\">AMZN<\/a>)<\/strong> related to data center optical connectivity products. Conversely, Steel Dynamics (<a href=\"\/stock\/STLD\">STLD<\/a>) fell <strong>5.5%<\/strong> after reporting Q3 EPS of <strong>$5.26<\/strong>, missing the Wall Street consensus of <strong>$5.41<\/strong>.<\/p>\n<p>On the macroeconomic front, the <strong>National Bank of Hungary<\/strong> maintained its base interest rate at <strong>5.50%<\/strong>, meeting analyst expectations amid persistent inflation risks. In the U.S., high-frequency labor data from <strong>ADP<\/strong> indicated a cooling trend, with weekly private employment changes dropping to <strong>18,500<\/strong> from a revised <strong>26,000<\/strong> the previous week. <em>Market participants are closely watching these figures as a precursor to broader monthly labor reports.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways General Motors (GM) authorized a massive $20 billion share repurchase program, aimed at retiring approximately 25-27.5% of its 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