Macy's, Salesforce and Okta rise premarket; Silvergate, Tesla fall

Tesla (TSLA) recalls 3,470 Model Y EVs

The National Highway Traffic Safety Administration (NHTSA) reported over the weekend that electric vehicle maker, Tesla Inc. (NASDAQ: TSLA) has issued a recall notice for 3,470 Model Y vehicles in the U.S. built between 2022-2023.

According to the NHTSA report, bolts in the second-row seats may be loose.... More

Tesla (TSLA) cuts Model S and Model X prices in U.S.

According to Teslas (NASDAQ: TSLA) website over the weekend, the electric vehicle company decided to cut prices on its two most expensive electric vehicles in the United States. The cuts come just days after Chief Executive Elon Musk said recent price cuts on other models had stoked demand.

These most recent price cuts... More

Jefferies raises price target on Tesla (TSLA)

Jefferies reiterated a Buy rating on Tesla (NASDAQ: TSLA) and raised the price target on the stock to $230.00 (From: $180.00) following the electric vehicle makers 2023 investor day.

After a harrowing H2, the Austin investor day demonstrated Tesla remains very much a "Day 1" company. Analyst Philippe Houchois wrote in a note.... More

Morgan Stanley questions how competition can keep up with Tesla (TSLA); Reiterates Outperform

Morgan Stanley reiterated an Outperform rating and $220.00 price target on Tesla (NASDAQ: TSLA) following the electric vehicle makers 2023 investor day.

The company revealed their master plan 3 with vertical integration and new technologies to support CEO Elon Musks dream of creating a sustainable energy economy. However, vertical integration efforts only pay off if you manufacture at an extraordinarily high scale (1mn-2mn units per model, >1mm units per factory).

Analyst, Adam Jonas wrote in a note, The word 'petawatt'... More

Tesla (TSLA) sold 74,402 China-made EVs in February

According to China Passenger Car Association (CPCA) data released on Friday, electric vehicle maker, Tesla (NASDAQ: TSLA) sold 74,402 China-made electric vehicles (EV) in February, up 31.65% from a year earlier and 12.6% QoQ.

Tesla had planned to run its Shanghai plant at an average weekly output rate... More

Aehr (AEHR) CEO comments on Tesla's (TSLA) silicon carbide statements

Gayn Erickson, CEO of Aehr Test Systems (NASDAQ: AEHR), spoke today at the Power America conference on Wide Bandgap Semiconductors on Aehrs interpretation of Teslas (NASDAQ: TSLA) statements made at Teslas Investor Day on March 1, 2023.

During Teslas investor day, the electric vehicle maker discussed plans for a next... More

Citi Keeps Buy Rating on NIO (NIO), PT $23.30, Issues Comments on Citi Business Update Call Today

Citi analyst Jeff Chung reiterated a Buy rating and $23.30 price target on NIO (NYSE: NIO).

The analyst comments "We hosted NIO for a business update call on Mar 2nd, with the key takeaways summarized as below. 4Q22 Provision Due to lower sales forecast of old 866 models, inventory provision and losses on purchase commitments was Rmb985mn in 4Q22. Breaking it down, mgmt. indicate less than Rmb200m was related to provision of Nios parts inventory and c.Rmb800m was related to provision of suppliers inventory and losses on purchase commitments. Mgmt. indicate they conservatively... More

J.P. Morgan underwhelmed at Tesla (TSLA) investor day; reiterates underweight

J.P. Morgan reiterated an Underweight rating and $120.00 price target on Tesla (NASDAQ: TSLA) following the electric vehicle companys most recent investor day presentation.

Tesla and CEO Elon Musk held their investor day Wednesday, where the billionaire revealed his Master Plan Part 3. The plan was centered around creating a sustainable energy economy through electrification. However, the presentation... More

J.P. Morgan Sidelines Nio (NIO) on 4Q miss

J.P. Morgan downgraded Nio Inc. (NYSE: NIO) to a Neutral rating (From: Overweight) and cut the price target on the stock to $10.00 (From: $14.00) following the electric vehicle makers 4Q earnings release.

Analyst Nick Lai wrote in a note, NIOs 4Q22 result on 1 March was a miss on unexpected vehicle margin contraction (to 6.8% in 4Q22 vs 16.4% in 3Q22), which together with higher than expected opex dragged the bottom... More

Barclays cuts Nio (NIO) to equal weight as losses mount

Barclays downgraded Nio Inc. (NYSE: NIO) to an Equal Weight rating (From: Overweight) and cut the price target on the stock to $10.00 (From: $18.00) following the electric vehicle makers 4Q earning report.

NIO reported total 4Q revenue of RMB 16.1bn. Up 62.2% yoy, but 10.2% lower than Barclays estimate. Vehicle sales revenue was RMB 14.8bn, 12.1% lower than estimated, due to lower-than-expected vehicle deliveries during the quarter. NIO delivered 40,052 units in 4Q22, only slightly above the lowered management deliveries guidance... More