Tesla, Apple, Petrobras Fall Premarket; Wynn Resorts Rises

Ford (F) Releases October Sales Numbers: EV Segment Jumps 2.2% YoY

Shares of Ford Motor Company (NYSE: F) are down 1.04% in early trading on Wednesday after the company released their sales numbers from the month of October. The American automaker reported 158,327 vehicles sold, 6,261 of which were electric models.

According to data released by the company, Fords October share of the electric vehicle segment was up 2.2 percentage points... More

Bernstein Reiterates Underperform Following Tesla (TSLA) Software Valuation

Bernstein reiterated an Underperform rating and $150.00 price target on Tesla Inc. (NASDAQ: TSLA) following an analysis of the companys software value. Analyst, Toni Sacconaghi sought to weigh-in to an ongoing debate about whether or not Tesla should be valued as a tech/software company or an auto manufacturer.

Tesla has two main sources of automotive software revenue today. First is deferred revenue recognition from software updates, which amounted to $48M last quarter, or ~$5/month per car in the installed base. Wrote Sacconaghi. The second source of software... More

Tesla (TSLA) Closes Flagship Showroom in Beijing

According to a report by Reuters, citing people familiar with the matter, Tesla (NASDAQ: TSLA) has closed the companys flagship showroom in Beijing, China. The Beijing showroom was in Parkview Green, an upscale downtown shopping center. A member of the mall's staff confirmed to Reuters during a visit to the site on Wednesday that Tesla had shut the showroom.... More

Tesla (TSLA) to Bring Workers from China to Boost Production in Fremont

A story by Bloomberg today, citing people familiar with the plans, reports that electric vehicle giant Tesla (NASDAQ: TSLA) is sending engineers and production staff from its recently upgraded Shanghai factory to its plant in Fremont, California. Tesla believes that the move is necessary to boost production at the US facility.

The carmaker will dispatch... More

Tesla (TSLA) Plans Mass Production of Cybertruck by End of 2023

According to an exclusive story by Reuters today, citing two people familiar with the matter, Tesla (NASDAQ: TSLA) is planning to start mass production of its Cybertruck at the end of 2023.

Tesla said last month that it was working on readying its Austin, Texas plant to build the new model with early production set to start in the... More

Wynn (WYNN) Jumps 10% as Billionaire Fertitta Amasses ~$440M Stake, Sparking Rumors

Shares of Wynn Resorts Ltd (NASDAQ: WYNN) surged 10% higher in early trading Monday after billionaire Tilman Fertitta disclosed owning a 6.1% stake in the casino operator.

Fertitta owned 6,917,551 shares of Wynn as of October 19, 2022, a 13G with the SEC showed on... More