LG revives Arizona battery factory with $5.6b investment
- S&P 500 ends higher as markets weigh rising yields, upbeat corporate results
- Meta Platforms reports softer Q2 revenue guidance on plans to boost spending on AI
- IBM (IBM) announces mixed Q1 results, HashiCorp acquisition; shares down
- Equities mixed as investors eye earnings; yen on intervention watch
- ServiceNow (NOW) stock falls as refreshed subscription outlook trails estimates
- Fisker (FSR) Appoints Michael Healy as Chief Restructuring Officer
- Seagate Technology (STX) Enters $600M Asset Purchase Agreement with Avago
- Meta Platforms (META) Tops Q1 EPS by 39c, Offers Guidance
- Hasbro (HAS) brand strength sees earnings top expectations
- IBM (IBM) announces mixed Q1 results, HashiCorp acquisition; shares down
- After-hours movers: Meta, Ford, IBM, ServiceNow and more
- Midday movers: Tesla, Boeing rise; Uber, Old Dominion Freight fall
- After-hours movers: Tesla, Texas Instruments, Seagate, Visa and more
- Midday movers: PepsiCo, JetBlue fall; GM, Danaher and UPS rise
- After-hours movers: Cadence Design Systems, Cleveland-Cliffs, Riot Platforms, and more
Deutsche Bank cuts estimates ahead of Tesla’s (TSLA) 1Q report
March 28, 2023 11:37 AM EDTDeutsche Bank reiterated a Buy rating and $250.00 price target on Tesla Inc. (NASDAQ: TSLA) ahead of the electric automakers 1Q23 delivery and production numbers, which are expected to be reported this weekend.
Deutsche Bank trimmed their 1Q delivery estimate lower to 416k units (+34% YoY, +3% QoQ), reflecting the continued uncertainty in the macro environment after the price cuts, as well as competitive pricing responses in China. They estimate Tesla delivered... More
Honda (HMC) recalls over 300,000 vehicles as side-view mirrors may fall off
March 28, 2023 8:11 AM EDTHonda Motor Co., Ltd. (NYSE: HMC) is recalling more than 330,318 vehicles because heating pads behind both side-view mirrors may not be bonded properly, which could lead to the mirror glass falling out and increase the risk of a crash.
Vehicles included in the recall are... More
NHTSA opens probe into 50,000 Tesla (TSLA) Model X EVs over seat belts
March 28, 2023 7:37 AM EDTThe National Highway Traffic and Safety Association (NHTSA) announced Tuesday that the U.S. regulator has opened a probe into 50,000 Tesla (NASDAQ: TSLA) Model X vehicles after receiving two complaints reporting front seat belt failures.
The preliminary evaluation covers 2022-2023 model... More
Lucid (LCID) recalls 637 vehicles with risk of power loss
March 27, 2023 1:55 PM EDTLucid Group (NASDAQ: LCID) is recalling 637 Lucid Air vehicles made in 2022-2023, according to a filing with the National Highway Traffic Safety Administration. The startup said that a flawed electrically activated switches could affect the vehicle, causing a loss of power... More
Morgan Stanley remains bullish on Tesla (TSLA); 'We're prepared for more EV price cuts'
March 27, 2023 10:13 AM EDTMorgan Stanley reiterated an Overweight rating and $220.00 price target on Tesla (NASDAQ: TSLA) as Chinese battery analyst, Jack Lu notes a continued rise in domestic EV battery inventory.
According to Lu, domestic EV battery inventory continued to rise to ~152GWh at the end of... More
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
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
Volkswagen down after Stifel downgrade, citing lack of catalysts
March 24, 2023 11:07 AM EDTBy Geoffrey SmithÂ
Investing.com -- Volkswagen (ETR:VOWG_p) stock fell to a 2023 low on Friday after analysts at Stifel took an ax to their target price for the German carmaker, saying it had run out of catalysts.
Stifel cut its recommendation to neutral and nearly halved its target price to 149 from 295, expressing disappointment at its failure to re-rate after the spin-off of Porsche, and acknowledging heavier investment spending requirements in the future, including M&A-related. The... More
Active options: TSLA NFLX NVDA AMZN AAPL META BABA AMD
March 24, 2023 9:49 AM EDTActive options: TSLA NFLX NVDA AMZN AAPL META BABA AMD
... MoreUBS 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) best positioned to master upcoming industry shake-out - UBS
March 24, 2023 6:34 AM EDTUBS analyst Patrick Hummel reiterated a Buy rating and $220.00 price target on Tesla (NASDAQ: TSLA).
"Despite a plethora of BEV launches, legacy mass OEMs are the relative losers in this year's survey. In a market that is no longer supply constrained, technology and... More
Active options: TSLA NVDA SQ COIN AAPL NFLX AMD AMZN BABA
March 23, 2023 9:45 AM EDTActive options: TSLA NVDA SQ COIN AAPL NFLX AMD AMZN BABA
... MoreTesla (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
Tesla (TSLA) expects to lose full $7,500 tax credit on its cheapest electric car - electrek
March 23, 2023 6:28 AM EDTTesla (NASDAQ: TSLA) expects to lose full $7,500 tax credit on its cheapest electric car - electrek
"Now Electrek has learned from sources familiar with the matter that Tesla has communicated to employees that it expects the IRS to release the... MoreTesla (TSLA) 30-day option implied volatility at 66
March 23, 2023 4:22 AM EDTTesla (NASDAQ: TSLA) 30-day option implied volatility is at 66; compared to its 52-week range of 49 to 96.
... MoreActive options: TSLA NVDA AAPL GME AMD GOOGL AMZN BAC AMC MSFT
March 23, 2023 3:33 AM EDTActive options: TSLA NVDA AAPL GME AMD GOOGL AMZN BAC AMC MSFT
... MoreBaidu’s (BIDU) Apollo gains approval to test autonomous vehicles in Shanghai
March 22, 2023 2:00 PM EDTApollo, Baidus (NASDAQ: BIDU) smart car business, announced Wednesday that the Chinese tech giant has received approval to be among the first companies to test fully autonomous vehicles in Shanghai.
Apollo currently operates driverless robotaxi services in specially designated areas of... 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