Shares of Fiat Chrysler Automobiles (NYSE: FCAU) gained 17.3% in October, according to data from S&P Global Market Intelligence. The Italian automaker's stock posted small gains in conjunction with broader market momentum and then saw a more pronounced jump following the publication of its third-quarter earnings results and new guidance targets.
FCA also appears to have gotten a boost from news of a proposed merger with French auto company Peugeot SA (OTC: PUGOY), which became official on the same day as the quarterly release. The combination would see current shareholders receive equal equity in the new company.
Image source: Fiat.