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- Wall Street indexes fall more than 1%, hit by tech, Iran war worries
- Oracle results beat estimates, but shares fall on plans for $40 billion raise
- Oil prices jump after Trump threatens to hit Iran 'very hard'
- Oracle reports earnings today: Analysts say this metric could 'catalyze higher multiples'
- UBS sees generational semiconductor boom, highlights stock winners
- Needham Starts Hyliion Holdings (HYLN) at Buy
- Alibaba falls on China AI capex report; Citi says selloff is premature
- Crude Inventory Fell 7.2 Million Barrels Last Week, Says EIA
- Wall Street indexes fall more than 1%, hit by tech, Iran war worries
- UBS sees generational semiconductor boom, highlights stock winners
Rivian (RIVN) to cut jobs by 6% amidst price war
February 1, 2023 11:56 AM ESTReuters reports in an exclusive story Wednesday that Rivian Automotive (NASDAQ: RIVN) is laying off 6% of its workforce in an effort to cut costs. The American EV maker, already grappling with falling cash reserves and a weak economy, is now bracing for what may be an industry-wide price war.
The falling EV prices were kicked off by cuts made recently by Elon Musk-led Tesla and Ford... More
Chinese domestic EV makers report January sales decline following Tesla (TSLA) price cuts
February 1, 2023 8:08 AM ESTChinas top domestic high-end EV manufacturers: Nio (NYSE: NIO), XPeng (NYSE: XPEV), and Li Auto (NASDAQ: LI), all recorded monthly and year-on-year sales declines in January, with some of the drops exceeding 50%. The weakness follows disrupted production and sales slowed by the weeklong Lunar New Year holiday, as-well-as recent Tesla (NASDAQ: TSLA) price... More
Tesla (TSLA) plans production ramp in Shanghai as price cuts boost demand
February 1, 2023 7:43 AM ESTIn an exclusive story, Reuters reports Wednesday that electric vehicle giant, Tesla, Inc. (NASDAQ: TSLA) plans to step up output at its Shanghai plant over the next two months to meet demand ignited by aggressive price cuts on its best-selling models. The report cites a planning memo seen by Reuters and a... More
Okta, Inc. (OKTA) seeing 'tons' of interest today - analyst
January 31, 2023 1:26 PM ESTOkta, Inc. (NASDAQ: OKTA) is seeing notable strength today, up 6%. Mizuho desk analyst Daniel O'Regan highlighted that he is getting a ton of questions on the stock today amid the move.
He commented, "Getting a TON of?'s OKTA +6%. Outperforming the IGV by... More
Warren Buffet backed EV maker BYD in talks to acquire insurer Yi'an
January 31, 2023 11:59 AM ESTBYD, the Chinese electric vehicle company in China, announced on Tuesday that the Warren Buffet backed automaker is working on a potential acquisition of Yi'an P&C Insurance Co, an insurer that was seized by Chinese regulators two years ago as part of a crackdown on financial... More
Tesla (TSLA) to increase CAPEX and ramp battery cell and semi-truck production
January 31, 2023 8:46 AM ESTTesla (NASDAQ: TSLA) announced in a 10-K filing on Tuesday that the electric vehicle company will increase its capital expenditure next year as the electric-vehicle maker increases production of a new battery cell and the Semi heavy duty truck.
Tesla wrote in the filing that we are likely to see heightened levels of capital... More
