Baidu’s (BIDU) Apollo gains approval to test autonomous vehicles in Shanghai
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/23/2026
- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
- Alphabet added to Dow Jones Industrial Average, Verizon dropped
- Chip stocks plunge, but bargain-hunters limit scale of tech rout
- FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
- Oil prices finish 1% lower as investors focus on Hormuz flows after peace talks
- Exclusive-China robot-hand-building unicorn Linkerbot targets $6 billion valuation
- Spain's ex-transport minister sentenced to 24 years for corruption
- Needham Starts NeoVolta (NEOV) at Buy
- China, US, UAE police arrest 276 telecom fraud suspects in Dubai
- Li Auto Inc. (LI) Breaks Ground on Chips R&D and Production Base
LG Energy in talks with Toyota (TM) to supply EV batteries
March 24, 2023 2:16 PM EDTLG Energy CEO Kwon Young Soo announced Friday that the South Korean battery giant has entered into talks with Toyota Motors (NYSE: TM) in the hopes of supplying the automaker with EV batteries.
When asked about the negotiation progress with... More
LG revives Arizona battery factory with $5.6b investment
March 24, 2023 2:00 PM EDTLG Energy Solutions, the worlds third-ranked electric vehicle battery maker, announced Friday that the company will resume a stalled U.S. battery project with a $5.6 billion investment in Arizona to qualify for federal incentives rolled out under the Inflation Reduction Act (IRA).
The battery maker said in June it was reassessing what was then a 1.7 trillion won ($1.3 billion) investment plan because of "unprecedented" economic conditions, just three months after it was... More
Tesla (TSLA) losing momentum as retail investors pull away
March 24, 2023 12:26 PM EDTAccording to data from Vanda Research, as of Wednesday, Net daily purchases of Tesla shares by individuals have fallen by about three-fourths from a peak of $436 million on March 1. Retail traders whose purchases have helped push the electric-vehicle makers stock up over 50% in 2023 are pulling back this month amid disappointment over a recent investor day and concerns over the health of... More
Tesla (TSLA) rolls out safety score 2.0
March 24, 2023 12:07 PM EDTIn October of 2021, Tesla (NASDAQ: TSLA) began a wide release of its FSD beta, only accessible to Tesla drivers who achieved a 100/100 on a proprietary safety scoring system. However, in November 2022, the FSD beta was opened to all North American owners who had purchased the option, regardless of safety score. Now the safety score is mainly used by the company to determine monthly premiums for its Tesla Insurance.
Friday, Tesla launched its Safety Score 2.0, a new version... More
UBS survey shows slowing pace of EV sector
March 24, 2023 7:38 AM EDTUBS conducted the seventh wave of its annual UBS Evidence Lab EV consumer survey with results showing 46% of consumers are likely to consider buying a fully electric car (BEV), a 3%-pts decrease y/y, marking the first sequential decline since the surveys inception in 2016. Analyst Patrick Hummel believes that the decline was driven by European markets on affordability concerns.
Hummel wrote in a note, While we... More
Tesla (TSLA) remains brand leader in UBS EV consumer survey
March 24, 2023 7:25 AM EDTUBS reiterated a Buy rating and $220.00 price target on Tesla, Inc. (NASDAQ: TSLA) following the seventh wave of the UBS Evidence Lab EV consumer survey.
The survey, which included over 10k participants, shows that 46% of consumers are likely to consider buying a fully electric car (BEV), a 3%-pts decrease y/y. This is the first sequential decline since the surveys... More
Tesla (TSLA) expects to lose tax credit on standard Model 3
March 23, 2023 7:53 AM EDTElectrek reports Thursday, citing people familiar with the matter, that Tesla (NASDAQ: TSLA) told employees they expect to lose the full $7,500 federal tax credit on their cheapest electric car, the Model 3 Standard range.
The communication to employees appears to have been done to prepare buyers of those vehicles,... More
Active options: TSLA GME NVDA AAPL LAZR AMC GOOGL AMD NKE
March 22, 2023 9:51 AM EDTActive options: TSLA GME NVDA AAPL LAZR AMC GOOGL AMD NKE
... MoreVW aiming for 3M small EVs produced in Spain between 2025-2030
March 22, 2023 8:48 AM EDTWayne Griffiths, the chairman of Volkswagen's Spanish unit SEAT, said on Wednesday that the German carmaker plans to produce 3 million small electric vehicles at its two plants in Spain between 2025 and 2030.
Griffiths said in a news conference that SEAT aims to assemble 500,000 electric cars a year in the... More
Nio (NIO) surges as CFO is 'very confident' in 250k vehicle sales target
March 22, 2023 7:59 AM EDTShares of NIO Inc. (NYSE: NIO) are up 2.80% in pre-market trading on Wednesday following comments by CFO Steven Feng where he said the company is very confident of meeting its target of doubling sales to 250,000 electric vehicles this year. The comments, made during a Bloomberg interview, provoked a surge in the companys Hong Kong shares.
We are very confident to achieve our sales target in 2023, Feng... More
NIO Inc. (NIO) gains as CFO confident sales will double this year
March 22, 2023 6:17 AM EDTNIO Inc. (NYSE: NIO) gains 2% in pre-open trading after the CFO said they are "very confident" sales will double this year to 250,000.
CFO Steven Feng was talking to Bloomberg TVWe are very confident to achieve our sales target in 2023, Feng said.... MoreNasdaq Trades at High, Up 1.35%
March 21, 2023 3:00 PM EDT(Updated - March 21, 2023 3:02 PM EDT)
Nasdaq Trades at High, Up 1.35%
S&P 500 Up 1.05%Dow Up 0.65%Tesla (NASDAQ: TSLA) among outperformers, up nearly 8%... MoreMidday movers: First Republic, Tesla, Foot Locker and more
March 21, 2023 2:44 PM EDTBy Liz Moyer
Investing.com -- Stocks were rising on Tuesday as investors looked ahead to the Fed's interest rate decision, which is widely expected to be an increase of a quarter of a percentage point. Here are the midday movers for March 21.
... More
Active options: TSLA AAPL NVDA BAC AMD AMZN FRC META MSFT
March 21, 2023 11:04 AM EDTActive options: TSLA AAPL NVDA BAC AMD AMZN FRC META MSFT
... MoreTesla (TSLA) Climbs 4%
March 21, 2023 9:44 AM EDTTesla (NASDAQ: TSLA) Climbs 4%
Earlier: Brokerage data surrounding Tesla (NASDAQ: TSLA) shows that the EV company is poised to report one of its best quarters in China.... More
Data suggests a very strong Q1 for Tesla (TSLA) in China
March 21, 2023 9:05 AM EDTBrokerage data surrounding Tesla (NASDAQ: TSLA) shows that the EV company is poised to report one of its best quarters in China.
According to data from China Merchants Bank International, the U.S. EV maker's retail sales in China totaled 106,915 units from Jan. 1 to March 19, or 1,371 units per day on... More
First Republic, Meta Platforms, Harley-Davidson and Foot Locker rise premarket
March 21, 2023 8:22 AM EDTBy Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, March 21st. Please refresh for updates.
First Republic Bank (NYSE: FRC) stock rose over 20% following... More
Slowing demand has BYD reducing shifts at China EV plants
March 21, 2023 8:21 AM EDTReuters reports Tuesday, citing people with knowledge of the matter, that BYD has reduced shifts at two auto assembly plants in China.
According to three of the sources and an internal memo sent earlier this month, BYD, which outsells Tesla (NYSE: TSLA) in China, asked some of the workers at its Xian plant, its biggest manufacturing hub, to work only four days a... More
Tesla to deliver strong Q1 retail sales in China - brokerage data
March 21, 2023 8:14 AM EDTSHANGHAI (Reuters) - Tesla is poised to report one of its best quarters in China, the latest retail sales data showed, after becoming the first electric vehicle maker in the country to cut prices in a bid to defend its market share.
The U.S. EV maker's retail sales in China totaled 106,915 units from Jan. 1 to March 19, or 1,371 units per day on average, according to data from China Merchants Bank International, which tracks car insurance registrations.
That was slightly higher than the 1,327 units it sold... More
Tesla's (TSLA) key Chinese rival BYD said to cut shifts as EV demand softens
March 21, 2023 6:10 AM EDTBYD Co, one of China's biggest car makers and a key competitor of Tesla (NASDAQ: TSLA) in the local market is making shift cuts at two of its EV plants in China, as reported by Reuters early Tuesday.
According to an internal memo,... More
Tesla's competitor BYD reduces shifts at two EV assembly plants in China - Reuters
March 21, 2023 5:40 AM EDTBYD reduces shifts at two EV assembly plants in China - Reuters
BYD, a Chinese EV maker that outsells Tesla in the local market, has reportedly reduced shifts at two key plants in China. No specifics on how long reduced shifts would last for were provided.... MoreTesla (TSLA) Receives Baa3 Investment-grade L-T Issuer Rating from Moody's
March 20, 2023 4:42 PM EDTTesla (NASDAQ: TSLA) Receives Baa3 Investment-grade L-T Issuer Rating from Moody's
... MorePolestar (PSNY) launches electric SUV in China with $29k price cut
March 20, 2023 2:52 PM EDTSwedish electric automaker, Polestar (NASDAQ: PSNY) officially launched their Polestar 3 electric SUV in China on Friday. However, the EV maker has slashed its starting price by roughly $29,000.
When the Polestar 3 was first advertised to Chinese... More
Active options: TSLA AAPL CS NVDA AMZN AMD BAC MSFT FRC META
March 20, 2023 2:29 PM EDTActive options: TSLA AAPL CS NVDA AMZN AMD BAC MSFT FRC META
... MorePrepare for lower margins as Tesla (TSLA) price cuts become a 'feature' of EV market - Morgan Stanley
March 20, 2023 11:51 AM EDTMorgan Stanley reiterated an Overweight rating and $220.00 price target on Tesla (NASDAQ: TSLA) as analyst Adam Jonas believes that investors should anticipate further price cuts in EVs.
Jonas wrote in a note, We believe EV price cuts are not a fad, but a trend. While subject to volatility, investors should anticipate further price cuts in EVs with cost-leader Tesla setting the tone.
One of the reasons Jonas... More
Tesla (TSLA) price cuts 'not a fad, but a trend' - Morgan Stanley
March 20, 2023 11:17 AM EDTMorgan Stanley analyst Adam Jonas reiterated an Overweight rating and $220.00 price target on Tesla (NASDAQ: TSLA), saying price cuts are "rational" and "not a fad, but a trend."
"We believe EV price cuts are not a fad, but a trend," Jonas commented. "While subject to... More
XPeng (H-Shares) (9868:HK) (XPEV) PT Lowered to HK$28.14 at Citi
March 20, 2023 11:12 AM EDTCiti analyst Jeff Chung lowered the price target on XPeng (H-Shares) (9868:HK) (NYSE: XPEV) to HK$28.14 (from HK$34.78) while maintaining a Sell rating.... More
BOCOM Int'l Downgrades XPeng (XPEV) to Neutal
March 20, 2023 11:06 AM EDTBOCOM Int'l analyst Angus Chan downgraded XPeng (NYSE: XPEV) from Buy to Neutal.
For an analyst ratings summary and ratings history on XPeng click here. For more ratings news on XPeng click here.
Shares of XPeng closed at $8.84 yesterday.
... MoreUBS turning more positive on Baidu (BIDU) following Ernie Bot announcement
March 20, 2023 11:01 AM EDTUBS analyst Wei Xiong maintained a Buy rating and $185 price target on Baidu (NASDAQ: BIDU) in a note to clients on Monday, providing a positive assessment of the company's ChatGPT equivalent product, Ernie Bot.
Baidu hosted a press conference on March 16, unveiling Ernie Bot, emphasizing its domestic leadership... More
Active options: TSLA CS NVDA AMD AMZN MSFT AAPL BAC LAZR
March 20, 2023 9:56 AM EDTActive options: TSLA CS NVDA AMD AMZN MSFT AAPL BAC LAZR
... MoreActive options: TSLA CS NVDA AMD AMZN MSFT AAPL BAC LAZR
March 20, 2023 9:55 AM EDTActive options: TSLA CS NVDA AMD AMZN MSFT AAPL BAC LAZR
... MoreMorgan Stanley cuts forecasts on China EVs reflecting headwinds
March 20, 2023 8:16 AM EDTMorgan Stanley has decided to cut earnings forecasts and price targets on Chinese electric vehicle companys, Nio Inc. (NYSE: NIO), Li Auto (NASDAQ: LI), XPeng (NYSE: XPEV) and BYD after Teslas (NASDAQ: TSLA) price cuts in the country triggered broader price competition. The price cuts, along with weaker YTD sales post stimulus, has pressured the Chinese EV segments 1H23 sales margin.
Carmakers continue to join the price competition by either lowering the MSRP directly,... More
Factbox-Ernie vs ChatGPT on global leaders
March 20, 2023 7:42 AM EDTBy Eduardo Baptista
BEIJING (Reuters) - Baidu's unveiling of its Ernie bot last week thrust the Chinese search engine giant into a race against global tech peers Microsoft and Google who are also building powerful artificial intelligence-driven chatbots and products.
Questions had remained over how Ernie and other Chinese chatbots in development would treat topics that are sensitive in mainland China, where authorities tightly censor the internet.
Reuters' tests of ChatGPT indicated that the Microsoft-backed chatbot is not averse to answering such questions.
Baidu last Thursday allowed users to apply for invitation codes to... More
Citi predicts challenges for XPeng (XPEV) in 2023; reiterates Sell
March 20, 2023 7:28 AM EDTCiti reiterated a Sell rating on XPeng (NYSE: XPEV) and cut the price target on the stock to $7.21 (From $8.92) after adjusting estimates to reflect the electric vehicle makers 4Q22 earnings results.
Citi analyst, Jeff Chung wrote in a note, We believe the companys... More
Baidu's Ernie writes poems but says it has insufficient information on Xi, tests show
March 20, 2023 6:20 AM EDTBy Eduardo Baptista
BEIJING (Reuters) - Baidu's Ernie bot can within seconds generate pictures of flowers and write Tang dynasty-style poems but will decline questions about Chinese President Xi Jinping by saying it has not yet learnt how to answer them, Reuters tests showed.
The Chinese search engine giant last week unveiled China's closest rival to OpenAI's chatbot ChatGPT and from Thursday allowed users to apply for access to it.
Some analysts and users soon began posting positive reviews of their experiences with Ernie bot, and side-by-side comparisons with ChatGPT, that drove Baidu's share price higher.
... MoreActive options: TSLA NVDA AAPL MSFT AMD AMZN BAC GOOGL META
March 20, 2023 5:39 AM EDTActive options: TSLA NVDA AAPL MSFT AMD AMZN BAC GOOGL META
... MoreUBS reiterates Buy Rating on Baidu (BIDU) after testing Ernie bot
March 20, 2023 5:11 AM EDTUBS analyst Wei Xiong reiterated a Buy rating and $185.00 price target on Baidu (NASDAQ: BIDU).
"Initial market reaction post the event was negative given the lack of a live demo and uncertainties around product plans, but the ADR performed better... More
XPeng (XPEV) PT Raised to $12.50 at Morgan Stanley
March 20, 2023 5:07 AM EDTMorgan Stanley analyst Tim Hsiao raised the price target on XPeng (NYSE: XPEV) to $12.50 (from $12.00) while maintaining a Overweight rating.... More
Li Auto (LI) PT Raised to $30 at Morgan Stanley
March 20, 2023 5:07 AM EDTMorgan Stanley analyst Tim Hsiao raised the price target on Li Auto (NASDAQ: LI) to $30.00 (from $23.00) while maintaining a Overweight rating.... More
NIO (NIO) PT Lowered to $12 at Morgan Stanley
March 20, 2023 5:07 AM EDTMorgan Stanley analyst Tim Hsiao lowered the price target on NIO (NYSE: NIO) to $12.00 (from $16.10) while maintaining a Overweight rating.... More
XPeng (XPEV) PT Lowered to $7.21 at Citi
March 20, 2023 4:59 AM EDTCiti analyst Jeff Chung lowered the price target on XPeng (NYSE: XPEV) to $7.21 (from $8.92) while maintaining a Sell rating.
... More
