Midday movers: AT&T, Tesla, D.R. Horton and more

Renault aims for software to be on par with Tesla (TSLA) by 2026

French automotive group, Renault on Monday detailed the new software architecture of its future vehicles which it claims will be on par with Tesla (NASDAQ: TSLA) by 2026.

Automakers have been living for months under the threat of regular and drastic price cuts from Tesla. In France, the list price of the Tesla Model 3 now starts at... More

Morgan Stanley survey shows 71% of respondents believe Tesla (TSLA) will ‘underperform’ over next 6 months

Morgan Stanley reiterated an Overweight rating and $200.00 price target on Tesla (NASDAQ: TSLA) after conducting an email survey of institutional investors and industry experts on Friday.

The survey consisted of one question asking survey respondents how they believe Tesla will perform over the next six months, with a multiple-choice answer ranging from Significantly Outperform to Significantly Underperform.

The survey was distributed at 11:52am EST on Friday, April... More

Tesla (TSLA) boosts spending forecasts in race to increase output

Electric vehicle giant Tesla, Inc (NASDAQ: TSLA) said in a filing on Monday that the company raised its capital expenditure forecast as the automaker ramps up output at its factories. Tesla now expects to spend between $7 billion and $9 billion this year, higher than its... More

Daiwa cuts estimates on Tesla (TSLA) as price cuts place pressure on margins

Daiwa Capital reiterated an Outperform rating on Tesla (NASDAQ: TSLA) and cut their price target on the stock to $185.00 (From $218.00) as the electric vehicle company leverages pricing power to grow volume.

Tesla reiterated its strategy to grow volumes at the expense of margin as management views price as a clearing mechanism, at... More

Tesla (TSLA) to export Model Y from China to Canada

According to a memo seen by Reuters, and an unnamed person with direct knowledge of the plan, Tesla (NASDAQ: TSLA) has begun producing a version of the Model Y in Shanghai to be sold in Canada this year. This will be the first time the company will be shipping cars to North America from China.

Over the weekend, Tesla posted on its website that it... More

As Tesla (TSLA) 'weaponizes' cost leadership Morgan Stanley believes legacy OEMs should reconsider EV spending plans

Morgan Stanley reiterated an Overweight rating and $200.00 price target on Tesla, Inc. (NASDAQ: TSLA) as the electric vehicle giant continues to invest their cost leadership and industry high margins into lower prices.

Following Teslas 1Q results, Morgan Stanley held discussions with a number of clients about what the electric vehicle makers industry leading margins would mean for legacy OEMs. If Tesla weaponizes their cost leadership in the form of price, does this impair the economic returns of the... More

Jury finds Tesla (TSLA) autopilot not at fault in 2019 crash

A California jury on Friday found that a Tesla (NASDAQ: TSLA) autopilot feature did not fail to perform safely in what appears to be the first trial related to a crash involving the partially automated driving software.

Justine Hsu, a resident of Los Angeles, sued Tesla in 2020, saying her Tesla Model S swerved into... More

California and others call for recall of Hyundai and Kia vehicles over risk of theft

California Attorney General Rob Bonta, as well as attorneys general of 17 other states on Thursday, call on the National Highway Traffic Safety Administration (NHTSA) to recall Hyundai and Kia vehicles, saying they are more likely to be stolen because they lack safety features that are standard in other cars.

Hyundai and Kia vehicles represent a large share of stolen cars in multiple U.S. cities, according to data from police and state officials. While most cars in recent years have been installed... More

Ford (F) CEO Farley says Tesla (TSLA) price cuts reflect pressure of ageing lineup

Ford (NYSE: F) Chief Executive Officer Jim Farley attended a charity event Thursday night where he commented on Teslas (NASDAQ: TSLA) recent price cuts, saying that the decision reflects the pressure Tesla faces from competition and an ageing product line-up.

Farley said Tesla's price cuts underscore intense competition in the two-row crossover or SUV segment of the auto market, where Tesla's best-selling Model Y faces a range of newer rivals in China and other markets.

Ford, he... More

Tesla (TSLA) increases prices in U.S. just days after cutting them

Electric vehicle giant, Tesla (NASDAQ: TSLA) raised the prices on their Model S and X in the U.S., according to its website Thursday, although they are still 20% lower than the start of the year cutting prices six times to drum up demand.

Tesla has been slashing... More

Truist downgrades Tesla (TSLA) as it signals willingness to continue price cuts

Truist Securities downgraded Tesla (NASDAQ: TSLA) to a Hold rating (From Buy) and cut their price target on the stock to $154.00 (From $245.00) after the company reported 1Q results and signaled its willingness to continue to cut prices.

Analyst William Stein wrote in a note, We and investors alike have seen TSLA's price reductions, so Q1's results weren't surprising. What surprised us is TSLA's stated willingness to reduce price further, accepting still lower automotive... More

IKEA invests £4.5 million in EV charging infrastructure projects for last mile fleet in the UK and Ireland

Swedish furniture retailer, IKEA announced today a £4.5million investment in a nationwide electric charging infrastructure, which will provide charging points for electric delivery vehicles across the country to enable more emissions-free deliveries.

The EV infrastructure forms part of IKEAs ongoing transformation to become even more affordable, accessible, and sustainable as it aims to reach 100% zero emission deliveries to customers by 2025.

The investment marks one of the biggest EV charging... More