GM and Google (GOOGL) partner to phase out Apple (APPL) CarPlay in EVs

Apple (AAPL) iPhone sell-through down just 3% YoY as US growth turned, claims UBS

UBS analyst David Vogt said in a note to clients Monday that they estimate Apple (NASDAQ: AAPL) iPhone sell-through was down just 3% year-over-year as US growth turned and as comps eased.

The analyst, who has a Buy rating and $180 price target on Apple... More

Stricter EV tax credit rules to take effect on April 18

The U.S. Treasury unveiled Friday stricter electric vehicle tax rules that will reduce or cut tax credits on some zero-emission models but grants buyers another two weeks before the new requirements take effect.

The EV battery sourcing guidance issued Friday triggers new requirements for critical minerals and battery components and takes effect for vehicle purchases starting April 18.

The rules are aimed at weaning the United States off dependence on China for EV battery supply chains and part of President Joe Biden's effort to make 50% of U.S. new vehicle sales by 2030 EVs... More

Apple (AAPL) option implied volatility into World Wide Developer Conference (WWDC) 2023 conference on June 5

Apple (NASDAQ: AAPL) 30-day option implied volatility is at 26; compared to its 52-week range of 23 to 45 into World Wide Developer Conference (WWDC) 2023 conference on June 5.

General Motors (GM) option implied volatility into BofA Securities 2023 Automotive Summit

General Motors (NYSE: GM) 30-day option implied volatility is at 41; compared to its 52-week range of 31 to 60 into BofA Securities 2023 Automotive Summit.

GM plans to phase out Apple CarPlay in EVs, with Google's help

By Joseph White

DETROIT (Reuters) - General Motors plans to phase out widely-used Apple CarPlay and Android Auto technologies that allow drivers to bypass a vehicle's infotainment systems, shifting instead to built-in infotainment systems developed with Google for future electric vehicles.

Apple CarPlay and Android Auto systems allow users to mirror their smartphone screens in a vehicle's dashboard display.

GM's decision to stop offering those systems in future electric vehicles, starting with the 2024 Chevrolet Blazer, could help the automaker capture more data on how consumers drive and charge EVs.

GM is designing the on-board navigation and... More

General Motors (GM) Enters Fourth Amended and Restated 5-Year Revolving Credit Agreement

General Motors (NYSE: GM) disclosed

On March 31, 2023, General Motors Company (GM) entered into a Fourth Amended and Restated 5-Year Revolving Credit Agreement, a Fifth Amended and Restated 3-Year Revolving Credit Agreement and a Fifth Amended and Restated 364-Day Revolving Credit Agreement, each with JPMorgan Chase Bank, N.A., as administrative agent, Citibank, N.A., as syndication agent, the other lenders named therein, and General Motors Financial Company, Inc. (collectively, the Facilities). The Facilities are unsecured and consist of a five-year $10 billion facility (the 5-year Facility), a three-year, $4.1 billion facility (the 3-Year Facility) and a 364-day, $2.0 billion facility (the 364-Day... More

Stock market today: Dow ends higher as tech continues to shine; Inflation eyed

By Yasin Ebrahim

Investing.com -- The Dow closed higher Thursday, as a melt-up in tech stocks continued just a day ahead of fresh inflation data that will provide further clues on whether the Federal Reserve rate-hike regime will come to a sooner rather than later end.

The Dow Jones Industrial Average added 0.4%, or 141 points, the Nasdaq gained 0.7%, and the S&P 500 rose 0.5%.

Tech stocks were among the biggest gainers on the day as Treasury yields steadied after their rebound.

The decline in bond yields has supported growth stocks year to date," Goldman Sachs... More

S&P 500 drifts higher as tech continues advance ahead of inflation data

By Yasin Ebrahim

Investing.com -- The S&P 500 climbed Thursday, as technology stocks continued to add to recent gains just a day ahead of fresh inflation data that will provide further clues on whether the Federal Reserve rate-hike regime will come to a sooner rather than later end.

The S&P 500 rose 0.4%, the Dow Jones Industrial Average added 0.3%, or 95 points, and the Nasdaq gained 0.6%.

Tech stocks were among the biggest gainers on the day as Treasury yields steadied after their recent melt-up following data showing jobless claims rose for the first... More

Hedge funds 'leaned more towards secular growth in January' - Jefferies

Jefferies analyst Steven DeSanctis said in a note to clients on Thursday that hedge funds leaned more towards secular growth in January.

"They increased weight to nearly 65% of portfolio, an OW of 21.8%, up from 17.1% last month," the analyst wrote, with the firm having assessed MSCI Hedge Fund data.

"Much of the increase in OW... More

Apple wins U.S. appeal over patents in $502 million VirnetX verdict

By Blake Brittain

(Reuters) -Apple Inc persuaded a U.S. appeals court on Thursday to uphold a patent tribunal's ruling that could imperil a $502 million verdict for patent licensing company VirnetX Inc in the companies' long-running fight over privacy-software technology.

The U.S. Court of Appeals for the Federal Circuit affirmed a decision from the U.S. Patent and Trademark Office that invalidated the two patents VirnetX had accused Apple of infringing.

VirnetX Chief Executive Kendall Larsen said in a statement that the company was... More

General Motors (GM) option implied volatility flat as shares rally 2%

General Motors (NYSE: GM) 30-day option implied volatility is at 41; compared to its 52-week range of 31 to 60 as shares rally 2%.

Alphabet (GOOGL) - near-term checks point to slightly better result for search in Q1, says Credit Suisse

Ahead of Alphabet's (NASDAQ: GOOGL) first quarter 2023 results on April 25, Credit Suisse analyst Stephen Ju stated that advertising spend on Google most reflects the state of the overall economy.

The analyst, who has an Outperform rating and $136 price target on the stock, revealed the firm's conversations with advertisers suggest that strength in... More

PayPal's (PYPL) BNPL offering has an advantage over Apple Pay Later - UBS

UBS analyst Rayna Kumar reiterated a Buy rating on PayPal (NASDAQ: PYPL) shares after Apple (NASDAQ: AAPL) announced the launch of its buy now, pay later (BNPL) product, Apple Pay Later.

The Cupertino-based tech... More

Apple (AAPL) analyst says headset faces delay, uncertainty over WWDC launch

Apple (NASDAQ: AAPL) analyst says headset faces delay, uncertainty over WWDC launch

Because... More

Apple and Disney worth more together than separately, says Needham & Company

In a note on Apple (NASDAQ: AAPL) vs. Walt Disney (NYSE: DIS), Needham & Company analyst Laura Martin stated that Apple and Disney are complementary networks.

The analyst, who has a Buy rating and $170 price target on Apple, said... More

Alphabet's (GOOGL) YouTube Engagement Remains Steady - Credit Suisse

Credit Suisse analyst Stephen Ju reiterated an Outperform rating and $136.00 price target on Alphabet (NASDAQ: GOOGL), noting YueTube engagement remains steady. The firm maintained 2023 and 2024 adjusted EPS estimates of $5.53 and $6.27, respectively.

"We also update engagement/time spent data and the time series... More

Apple (AAPL) and Disney (DIS) are complementary networks, are worth more together than separately - Needham & Company

Needham & Company's analyst Laura Martin on Apple (NASDAQ: AAPL) vs Walt Disney (NYSE: DIS) debate.

"Offensively, as an upside value driver, strong distribution and world-class content are complementary networks. That is, they are worth more together than separately,... More

Google Cloud VP Says Microsoft 'Selectively Buying Out' Complainants - Reuters

Google Cloud VP Says Microsoft 'Selectively Buying Out' Complainants - Reuters

Google accuses Microsoft of anti-competitive Cloud practices

Investing.com -- Alphabet (NASDAQ: GOOGL) took aim at Microsoft's (NASDAQ: MSFT) increasingly potent Cloud services offering, telling Reuters that it is "anti-competitive" and urging EU regulators to crack down on its rival's deals with smaller companies.

"Microsoft definitely has a very anti-competitive posture in cloud," Google Cloud president Amit Zavery said in an interview with the news agency. "They are leveraging a lot of their dominance in the on-premise... More

Active options: GOOGL COIN META LULU NIO FRC SQ ATVI SHOP

Active options: GOOGL COIN META LULU NIO FRC SQ ATVI SHOP

White House touts Amazon EVs, Google EV tax credit tool

By Jarrett Renshaw

(Reuters) - The White House on Thursday highlighted new U.S. company moves to support electric vehicles (EVs), as final rules on tax credits aimed at boosting the industry are expected this week.

Amazon is rolling out the first 3,000 delivery vehicles it has acquired as part of a commitment to bring 100,000 vehicles to the road by... More

Apple to host annual developers' conference from June 5

(Reuters) - Apple Inc said on Wednesday it will host its annual developers' conference from June 5 to June 9, where the iPhone maker is expected to unveil its latest software updates.

Analysts will also look for hints from Apple about the much-anticipated mixed-reality headset that can overlay digital objects... More

Meta best-positioned to benefit from potential TikTok ban - Morgan Stanley

Morgan Stanley analyst Brian Nowak believes Meta Platforms (NASDAQ: META) is the best-positioned internet stock to benefit from the potential U.S. ban on TikTok.

The analyst notes increasing momentum to ban TikTok, which could have a massive impact on other social media apps as there would be 53 billion U.S. consumer... More

Elon Musk, AI Pioneers Sign Open Letter on AI Development Moratorium -- WSJ

Elon Musk, AI Pioneers Sign Open Letter on AI Development Moratorium -- WSJ

Lululemon, Micron and UBS rise premarket; Macy's, Foot Locker fall

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, March 29th. Please refresh for updates.

Lululemon Athletica (NASDAQ: LULU) stock rose 16% after the athleisure clothing retailer reported... More

Google (GOOGL) Launches New Tool to Let Users Scrutinize Its Ads - Bloomberg

Google (NASDAQ: GOOGL) Launches New Tool to Let Users Scrutinize Its Ads - Bloomberg

UBS shakeup, chipmaking cheer, SBF bribery charge - what's moving markets

By Geoffrey Smith

Investing.com -- UBS sends for its own private Superman, two big chipmakers see an improvement in their fortunes (as does Lululemon) and stocks are back where they were before the U.S.'s regional banks began to wobble. Here's what's moving financial markets on Wednesday, March 30th.

1. Ermotti returns to UBS

UBS (SIX: UBSG) brought back its Sergio Ermotti as chief executive, a sign of the difficulties it faces in implementing the takeover of Credit Suisse... More

Google scores partial victory in Android antitrust case in India

By Arpan Chaturvedi and Munsif Vengattil

NEW DELHI (Reuters) -An Indian tribunal on Wednesday gave partial relief to Alphabet Inc's Google by setting aside four of 10 antitrust directives in a case related to the dominant market position of its Android operating system.

The Competition Commission of India (CCI) said in October that Google had exploited its dominant position in Android and told it to remove restrictions imposed on device makers, including related to the pre-installation of apps. It also fined Google $161 million.

An Indian appeals tribunal on Wednesday said CCI's findings of Google's anti-competitive conduct were... More

Active options: GOOGL MSFT FRC META CCL GOOG NFLX SNAP COIN GME MU OXY

Active options: GOOGL MSFT FRC META CCL GOOG NFLX SNAP COIN GME MU OXY