Mercedes-Benz launches new E-Class, its final ICE vehicle

Tesla (TSLA) pulls Models S and X orders from Australian website

American electric vehicle giant Tesla (NASDAQ: TSLA) updated its Australian website Wednesday night to reflect that the company is no longer accepting orders for either the Model S or Model X from customers in the country. Prospective buyers will only be able to receive updates and not place orders for the companys flagship vehicles.

The $400 refundable pre-order option... More

Honda (HMC) and Honda USA award over $2.7M to advance environmental conservation activities

Japanese automaker, Honda (NYSE: HMC) and the Honda USA Foundation announced Thursday that they have awarded more than $2.7 million in funding to a variety of environmental education and conservation initiatives across the U.S.

The funding includes $625,000 to support The Nature Conservancy (TNC) programs across 10 states and an additional $2 million in financial grants to 67 organizations undertaking environmental and conservation initiatives across multiple... More

Honda (HMC) and GS Yuasa to invest $3b for battery development

The Nikkei news reports Thursday that Honda Motor (NYSE: HMC) alongside battery maker GS Yuasa Corp will invest over 400 billion yen ($2.99 billion) and team up to produce batteries for electric vehicles (EVs) and homes.

The report states that the companies will... More

BYD posts fivefold jump in 1Q profit

Chinese electric automaker BYD Co. posted a fivefold jump in its first-quarter profit on Thursday.

Net profit for the first three months of the year was 4.13 billion yuan ($596.56 million), up 410.9% from 808.41 million yuan a year earlier, on revenue up 79.8% at 120.17 billion yuan, the company said in a stock... More

Toyota (TM) inches past production goal, warns of lingering chip shortage

Japan's Toyota Motor (NYSE: TM) said Thursday that the Japanese automaker has produced 9.13 million vehicles in the 12 months through March 31, a fraction ahead of its target, though that goal was downgraded twice from an initial goal for the year of around 9.7 million amid industry... More

Morgan Stanley adjusts estimates ahead of Ford’s (F) 1Q release

Morgan Stanley reiterated an Overweight rating and $14.00 price target on Ford Motor Company (NYSE: F) ahead of the American automakers 1Q earnings release. Ford is scheduled to report 1Q earnings results on Mary 2nd.

Analyst Adam Jonas wrote in a note,... More

Hyundai plans Russian exit, negotiates sale of factories

South Korean media reports Wednesday that automaker Hyundai Motors is planning to exit Russia and sell its manufacturing plants.

South Korean TV network MBC reported that negotiations to sell Hyundai's factories in Russia are in the final stage, adding that the automaker has been waiting for a final... More

Stellantis (STLA) offering voluntary buyouts to 33,500 U.S. employees

Stellantis (NYSE: STLA) announced Wednesday that the Chrysler parent company is offering voluntary exit packages to 33,500 U.S. employees as it looks to streamline operations.

The automaker did not say how many total jobs it is looking to eliminate. However, the offer covers 31,000 U.S. hourly workers and about 2,500 salaried workers. The company is also... More

U.S. board rules Tesla (TSLA) violated labor laws by silencing workers

A U.S. labor board official ruled Tuesday that supervisors at Teslas (NASDAQ: TSLA) Florida service center have violated labor law by telling employees that they should not discuss pay and other working conditions, or bring complaints to higher level managers.

Management at the Orlando repair shop illegally silenced workers in 2021 after some of them complained that new hires were being paid more,... More

Stellantis (STLA) to cut 3,500 U.S. jobs

According to a United Auto Workers union letter made public Tuesday, Chrysler and Dodge parent company Stellantis (NYSE: STLA) wants to cut approximately 3,500 hourly U.S. jobs and is offering voluntary exit packages.

According to the letter, The automaker is looking to reduce its... More

Honda (HMC) enters collaboration agreement with TSMC

Honda Motor Co. (NYSE: HMC) said Wednesday that the Japanese automaker had struck a strategic collaboration agreement with Taiwan Semiconductor Manufacturing Co (TSMC) (2330.TW) as part of efforts to secure a stable supply of semiconductors.

Honda will build direct relationships with chip producers for the long-term stable supply of... More

General Motors (GM) to end production of Chevy Bolt in shift to EV trucks and SUVs

General Motors (NYSE: GM) announced Tuesday that the American automaker will end production of its Chevrolet Bolt electric vehicle later this year as its shifts zero-emission production to trucks and SUVs built on a new battery platform.

In January 2022, GM said it would invest $4 billion in its Orion Township... More

Hyundai and SK On finalize $5B EV battery venture in U.S.

Hyundai Motor Co. announced Tuesday that the South Korean automaker has finalized a $5 billion electric vehicle (EV) battery joint venture in the U.S., boosting electrification efforts in the country.

Hyundai and partner SK On, a battery unit of SK Innovation Co Ltd (096770.KS), will set up a... More

GM to end production of Chevrolet Bolt EV later this year

By David Shepardson

WASHINGTON (Reuters) -General Motors Co said on Tuesday it will end production of its Chevrolet Bolt electric vehicle later this year as its shifts zero-emission production to trucks and SUVs built on a new battery platform.

"We have progressed so far that it's now time to plan to end the Chevrolet Bolt EV and EU production, which will happen at the very end of the year," GM CEO Mary Barra told investors on Tuesday.

The largest U.S. automaker sold 38,120 Bolt EVs in 2022, up from 24,828 in 2011 -- and 19,700 in the first three... More

Active options: TSLA FRC AMC AAPL NVDA AMZN AMD MSFT

Active options: TSLA FRC AMC AAPL NVDA AMZN AMD MSFT

CFRA upgrades General Motors (GM) to Hold following 1Q beat and raise

CFRA Research upgraded General Motors (GM) to a Hold rating (From: Sell) and raised their price target on the stock to $35.00 ($From: $31.00) as the automaker continues to benefit from favorable demand following 1Q results.

Analyst Garrett Nelson wrote in a note, "While we continue to believe the near-term... More

General Motors (GM) and Samsung to build battery plant in U.S.

General Motors Co. (NYSE: GM) and Samsung SDI announced Tuesday that they plan to invest more than $3 billion to build a new battery cell manufacturing plant in the United States with a targeted to begin operations by 2026.

Reuters reported in January that GM and LG Energy Solution would not move forward with a fourth U.S. battery manufacturing plant. GM and LG Energy are building a $2.6 billion plant in Michigan, set to open in 2024, one of three joint venture Ultium Cells LLC plants.

According to unnamed sources at CNBC,... More

CFRA Upgrades General Motors (GM) to Hold on valuation

(Updated - April 25, 2023 8:36 AM EDT)

CFRA analyst Garrett Nelson upgraded General Motors (NYSE: GM) from Sell to Hold with a price target of $35.00 (from $31.00).

The analyst commented, "We raise our 12-month target by $4 to $35, based on a '24 P/E of 5.5x, a... More

General Motors (GM) adds 3% on big Q1 beat, raised FY forecast

General Motors (NYSE: GM) shares are up in pre-open Tuesday after the carmaker reported better-than-expected Q1 results and raised its full-year forecast.

The Michigan-based business posted EPS of $2.21 on revenue of $40 billion, topping the consensus for earnings of $1.70 on revenue of $38.4B. The company... More

Stocks expected to have increasing option volume: PEP UPS BKU FDX GE GEHC EDR VZ THC GM

Stocks expected to have increasing option volume: PEP UPS BKU FDX GE GEHC EDR VZ THC GM

General Motors (GM) Tops Q1 EPS by 51c, Beats on Revenue; Offers FY23 Guidance

General Motors (NYSE: GM) reported Q1 EPS of $2.21, $0.51 better than the analyst estimate of $1.70. Revenue for the quarter came in at $40 billion versus the consensus estimate of $38.4 billion.

For FY23 the company guided:

GM lifts guidance, but cautions price gains won't last

By Joseph White and Paul Lienert

DETROIT (Reuters) -General Motors Co on Tuesday lifted its full-year profit and cash flow forecasts, citing stronger-than-expected demand and higher prices, but executives cautioned the price gains over 2022 won't last as the year goes on.

After better-than-expected first quarter results, the No. 1 U.S. automaker said it expects full-year pre-tax profit in a range between $11 billion and $13 billion, up $500 million from a prior forecast.

Consumers willing to pay a rich price for a new vehicle gave GM a significant boost in the latest quarter. Higher prices added nearly $1,800 a... More

Tesla (TSLA) to cut prices again as it struggles to hit its volume targets - analyst

Tesla (NASDAQ: TSLA) shares are down over 21% in April after the company delivered Q1 results last week.

The first quarter was characterized by several rounds of price cuts as Tesla struggles to attract demand in a difficult macroeconomic environment.

Every time that the Fed raises interest rates,... More

Bernstein Reiterates Underperform Rating on Tesla (TSLA), sees more price cuts

Bernstein analyst Toni Sacconaghi reiterated an Underperform rating and $150.00 price target on Tesla (NASDAQ: TSLA).

"Tesla has now cut prices by 10 - 20%+ on its cars since the beginning of the year, yet the company still appears to be struggling to generate... More

General Motors (GM) and Samsung SDI to Invest $3B+ to Expand U.S. Battery Cell Manufacturing

General Motors Co. (NYSE: GM) and Samsung SDI announced today they plan to invest more than $3 billion to build a new battery cell manufacturing plant in the United States that is targeted to begin operations in 2026.

"GM's supply chain strategy for EVs is focused on scalability, resiliency, sustainability and cost-competitiveness. Our new relationship with Samsung SDI will help us achieve all these objectives," said GM Chair and CEO Mary... More

Samsung SDI, GM to build $3 billion joint EV battery plant in US

SEOUL (Reuters) - Samsung SDI Co Ltd said on Tuesday it will invest $3 billion or more to build a joint venture electric vehicle (EV) plant with General Motors Co in the United States.

Targeted to start in 2026, the plan aims to have an annual production capacity of 30 gigawatt... More

GM, Samsung SDI to invest more than $3 billion to build joint EV battery plant in US

By David Shepardson and Heekyong Yang

WASHINGTON/SEOUL (Reuters) -General Motors Co and Samsung SDI said on Tuesday they will invest over $3 billion to build a joint venture electric vehicle battery manufacturing plant in the U.S., as the automaker diversifies its component suppliers.

The news comes as South Korean President Yoon Suk Yeol is in Washington to meet President Joe Biden on what is the first state visit to the U.S. by a South Korean leader in 12 years.

Yoon, who has made business opportunities a cornerstone of his foreign policy visits, is... More

General Motors (GM) Declares $0.09 Quarterly Dividend; 1% Yield

General Motors (NYSE: GM) declared a quarterly dividend of $0.09 per share, or $0.36 annualized.

The dividend will be payable on June 15, 2023, to stockholders of record on June 2, 2023, with an ex-dividend date of June 1, 2023.

The annual yield on the dividend is 1 percent.

For a... 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

General Motors (GM) April weekly option implied volatility elevated into quarter results

General Motors (NYSE: GM) April weekly call option implied volatility is at 66, May is at 41; compared to its 52-week range of 31 to 61 into the expected release of quarter results before the bell on April 25.

Midday movers: Tesla, Bed Bath&Beyond, First Republic and more

Investing.com -- Stocks were falling on Monday as investors prepared for a big wave of big tech and other corporate earnings reports. Here are the market movers for April 24.

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

Tesla raises 2023 spending forecast as it races to ramp up output

(Reuters) - Tesla Inc raised its capital expenditure forecast for 2023 on Monday as the automaker ramps up output at its factories to take advantage of the rising interest in electric vehicles.

The company, led by Elon Musk, said in a filing that it expects to spend between $7 billion and $9 billion this year, higher than its previous outlook of $6 billion to $8 billion.

It... More

Tesla (TSLA) Hits Low, Down 3.5%

Tesla (NASDAQ: TSLA) Hits Low, Down 3.5%

Tesla's (TSLA) Dojo currently has 'zero chance of succeeding,' needs immediate course correction - Trip Chowdhry

Trip Chowdhry of Global Equities Research has shared harsh criticism of the way Tesla (NASDAQ: TSLA) is running its Dojo AI project, the company's own supercomputer designed to train machine learning models used in Tesla's autopilot software.

In his latest note, the analyst was not shy for words when describing the... More

Active options: TSLA AMZN BBBY AAPL NVDA MSFT GOOGL

Active options: TSLA AMZN BBBY AAPL NVDA MSFT GOOGL

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

Tesla (TSLA) stock dips on raised 2023 capex forecast

Tesla (NASDAQ: TSLA) shares are trading around 1.5% lower in pre-market Monday after the electric vehicle (EV) maker increased its capital expenditures forecast for this year.

Elon Musks company now expects its capex between $7 billion and $9B in 2023 and each of the following two years, the company said in a... More

Tesla (TSLA) raises 2023 capex forecast to $7-9 billion

Tesla (NASDAQ: TSLA) said it sees its capital expenditures to be between $7.00 to $9.00 billion in 2023 and in each of the following two fiscal years.

It was expecting capex to be $6b to $8b this year, then $7b to $9b each of the next two years.

Tesla Sets Target Of Producing 9,000 Model Y Vehicles In Shanghai For Export To North America In Q2 - Reuters

Tesla Sets Target Of Producing 9,000 Model Y Vehicles In Shanghai For Export To North America In Q2 - Reuters

Tesla, Government Of Canada Websites Show New, Cheaper Model Y Qualifies For Incentive Of Up To C$5,000 - Reuters

Tesla, Government Of Canada Websites Show New, Cheaper Model Y Qualifies For Incentive Of Up To C$5,000 - Reuters

Tesla Readies Export Of Model Y To Canada From China - Reuters

Tesla Readies Export Of Model Y To Canada From China - Reuters

Tesla (TSLA) option implied volatility low

Tesla (NASDAQ: TSLA) April weekly call option implied volatility is at 47, May is at 48; compared to its 52-week range of 48 to 96.

Increasing unusual call option volume: STLA EWJ TIP FRC IGT XPO MCRB OBE WAL

Increasing unusual call option volume: STLA EWJ TIP FRC IGT XPO MCRB OBE WAL

Active options: TSLA AMZN AAPL NVDA GOOGL META BABA

Active options: TSLA AMZN AAPL NVDA GOOGL META BABA

Tesla (TSLA) PT Lowered to $185 at Daiwa Securities

Daiwa Securities analyst Jairam Nathan lowered the price target on Tesla (NASDAQ: TSLA) to $185.00 (from $218.00) while maintaining a Outperform (2) rating.... More

Exclusive-Tesla readies export of Model Y to Canada from China – source, memo

SHANGHAI (Reuters) - Tesla has begun producing in Shanghai a version of the Model Y to be sold in Canada this year, the first time it will ship cars to North America from China, according to a person with direct knowledge of the plan and a production memo seen by Reuters.

The move would connect Tesla's biggest and most cost-efficient factory in the world to North America, its largest market. The Model Y is the electric vehicle (EV) maker's best-selling model globally.

Over the weekend, Tesla posted on its website that it would offer a new,... More

Exclusive-Tesla's Autopilot never claimed to be self-pilot -juror

By Abhirup Roy, Dan Levine and Hyunjoo Jin

LOS ANGELES (Reuters) - Jurors in what appears to be the first trial related to a crash involving Tesla's Autopilot feature told Reuters after the verdict on Friday that the electric-vehicle maker clearly warned that the partially automated driving software was not a self-piloted system, and that driver distraction was to blame.

A California state court jury on Friday handed Tesla Inc a sweeping win, finding that the automaker's Autopilot feature did not fail to perform safely and awarding plaintiff Justine Hsu zero damages.

The jurors' impressions are... More

Juror In Tesla Los Angeles Crash Case Says Autopilot Feature 'never Confessed To Be Self Pilot' - Reuters

Juror In Tesla Los Angeles Crash Case Says Autopilot Feature 'never Confessed To Be Self Pilot' - Reuters

S&P 500 struggles for direction on mixed quarterly results

By Yasin Ebrahim

Investing.com -- The S&P 500 struggled for direction Friday, as investors weighed a surge in Amazon and mixed quarterly earnings ahead of results from big tech next week. 

The S&P 500 rose 0.1%, the Dow Jones Industrial Average was flat, or 4 points higher, and the Nasdaq rose 0.2%.

Amazon.com (NASDAQ: AMZN) jumped more than 3% as its Whole Foods business is reportedly planning to cut hundreds of jobs as part of a... 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

Tesla (TSLA) April weekly option implied volatility at low end of range

Tesla (NASDAQ: TSLA) April weekly call option implied volatility is at 47, May is at 49; compared to its 52-week range of 48 to 96.

Ford defeats class action appeal over F-150, Ranger trucks' fuel economy

By Jonathan Stempel

(Reuters) - Ford Motor Co on Friday defeated an appeal by consumers who said the automaker cheated on fuel economy tests for its F-150 and Ranger trucks, allowing it to inflate mileage estimates on window stickers.

In a 3-0 decision, the 6th U.S. Circuit Court of Appeals in Cincinnati said federal law gave the Environmental Protection Agency authority to estimate vehicle fuel economy, preempting the plaintiffs' state law-based claims.

Ford's F-series has been the best-selling American truck for 46 straight years.

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

Active options: TSLA AMZN AAPL NVDA GOOGL META BABA AMC AMD

Active options: TSLA AMZN AAPL NVDA GOOGL META BABA AMC AMD

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

Active options: TSLA AMZN AAPL NVDA T META AMD BABA GOOGL

Active options: TSLA AMZN AAPL NVDA T META AMD BABA GOOGL

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

Tesla, Procter&Gamble and HCA rise premarket; SQM falls

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, April 21st. Please refresh for updates.

Procter & Gamble (NYSE: PG) stock rose 2.2% after the consumer goods giant raised its full-year sales forecast,... More

Dow futures fall 60 pts; subdued trading on mixed earnings

By Peter Nurse    

Investing.com -- U.S. stocks are seen opening marginally lower Friday, adding to the previous sessions losses as investors digested a mixed set of quarterly earnings with more important economic data due. 

At 06:50 ET (10:50 GMT), the Dow Futures contract was down 60 points, or 0.2%, S&P 500 Futures traded 10 points, or 0.2%, lower and Nasdaq 100 Futures dropped 60 points, or 0.5%.

The main indices closed lower Thursday, with the tech-heavy Nasdaq Composite hit particularly hard, falling 0.8%, after Tesla (NASDAQ: TSLA) stock slumped almost 10% as... More

Group Of 17 Tesla (TSLA) Investors Accuse Board Of Poor Oversight - Bloomberg

Group Of 17 Tesla (NASDAQ: TSLA) Investors Accuse Board Of Poor Oversight - Bloomberg

SAP slashes outlook; Eurozone slowdown fears mount - what's moving markets

By Scott Kanowsky

Investing.com -- SAP cuts its outlook after the divestment of its Qualtrics unit, while the balance of European business activity tips towards services and Tesla shares drop sharply.

1. SAP lowers guidance

Shares in SAP (ETR: SAPG) slipped in early trading on Friday after the business software group slashed its annual profit guidance, following the divestment of its subsidiary Qualtrics.

The tech giant sees non-IFRS operating profit at a range of 8.6 billion to 8.9 billion in 2023, a decrease of 200 million from its previous outlook. Revenue... More

Truist Securities Downgrades Tesla (TSLA) to Hold, 'What surprised us is TSLA's stated willingness to reduce price further'

(Updated - April 21, 2023 8:09 AM EDT)

Truist Securities analyst William Stein downgraded Tesla (NASDAQ: TSLA) from Buy to Hold with a price target of $154.00 (from $245.00).

The analyst comments "Pricing trends amplify importance of TSLA's AI businesses, but diminish the value of its... More

Tesla (TSLA) April call option implied volatility at 65, May at 53

Tesla (NASDAQ: TSLA) April call option implied volatility is at 65, May is at 53; compared to its 52-week range of 59 to 96.

Tesla (TSLA) PT Lowered to $220 at Barclays

Barclays analyst Dan Levy lowered the price target on Tesla (NASDAQ: TSLA) to $220.00 (from $230.00) while maintaining a Overweight rating.... More