Stellantis stock rises 13% as automaker’s turnaround plan, cost cuts gain traction

Stellantis shares gained 13% on Wednesday, closing at $4.69 on the New York Stock Exchange, while shares in Milan climbed 15.4% to 4.28 euros. The gains reflected investor confidence in the European automaker’s third-quarter financial performance and strategic direction under its 60 billion euro turnaround initiative.
The company reported third-quarter revenues increased 1% to 37.6 billion euros compared to the prior year, while adjusted operating income surged 184% to 256 million euros from