U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.77%

Morgan Stanley Reiterates View of No Hike in March, 'ample room for the data to shift Fed views'

February 1, 2023 2:27 PM EST

Morgan Stanley Reiterates View of No Hike in March

Analyst Ellen Zentner comments "Chair Powell now prepares for the Q&A at2:30PM ET, and we expect he will to drive home a hawkish message. Rates of core inflation have moved into a lower range, and wage gains... More

Rivian (RIVN) to cut jobs by 6% amidst price war

February 1, 2023 11:56 AM EST

Reuters 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 EST

Chinas 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 EST

In 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

Warren Buffet backed EV maker BYD in talks to acquire insurer Yi'an

January 31, 2023 11:59 AM EST

BYD, 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 EST

Tesla (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

Evercore ISI Removes IBM (IBM) from Tactical Outperform List

January 30, 2023 5:17 PM EST

Evercore ISI analyst Amit Daryanani reiterated an In Line rating and $150.00 price target on IBM (NYSE: IBM)

Removes from Tactical Outperform List.

For an analyst ratings summary and ratings history on IBM click here. For more ratings news on IBM click here.

Shares of IBM closed at $134.39 yesterday.

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