First Republic, Fed meeting, Apple earnings - what's moving markets

UAW holds off on endorsing Biden for 2nd term citing EV policies

United Auto Workers (UAW) President Shawn Fain said in a letter to members seen by Reuters Wednesday that the Detroit-based union has yet to endorse President Joe Biden for a second term, citing concerns about electric vehicle policies.

"The federal government is pouring billions into the electric vehicle transition, with no strings attached and no commitment to workers. The EV transition is at serious risk of becoming a race to the bottom. We want to see national leadership have our back on this before we make any commitments," Fain... More

Ford (F) CEO says EV price cuts are 'a worrying trend'

Ford (NYSE: F) CEO, Jim Farley told a Wall Street Journal forum on Wednesday that price cuts in the electric vehicle market "is a worrying trend".

Rival EV automaker Tesla (NASDAQ: TSLA) incited what others are... More

Apple's Steve Wozniak to CNN: buy a Tesla (TSLA) 'if you want a study of AI gone wrong'

Apple (NASDAQ: AAPL) co-founder Steve Wozniak spoke with CNN This Morning Tuesday when he offered some off-hand commentary on Teslas (NASDAQ: TSLA) Autopilot struggles.

When asked if the tech guru ever speaks to Tesla CEO Elon Musk, Wozniak said hed never met Musk but that he admires some of the things Musk has done for the world. However, he said much of those achievements... More

Marco Rubio seeks investigation into Ford’s (F) Chinese partnerships

Republican U.S. Senator Marco Rubio on Wednesday asked President Joe Bidens administration to investigate Fords (NYSE: F) plan to partner with PT Vale Indonesia and China's Zhejiang Huayou Cobalt in a $4.5 billion nickel processing plant in Indonesia.

Rubio is the top Republican on the Senate Intelligence Committee and... More

Ford (F) expects $1.5B to $2B in restructuring charges in 2023

Ford (F) said in a regulatory filing on Wednesday that the company expects to take up restructuring charges between $1.5 billion and $2 billion in 2023. The charges come as part of the U.S. automaker's move to exit unprofitable locations and cut headcount.

The charges will be primarily attributed towards "employee... More

Tesla (TSLA) cuts price, resumes orders of long-range Model 3 in US

Teslas (NASDAQ: TSLA) website, late Tuesday, showed the EV automaker has resumed taking orders for its Model 3 long-range version in the United States following a temporary halt last year due to delivery backlogs.

The long-range version of the Model 3 is currently priced at... More

Baird raises estimates on Apple (AAPL) ahead of 2Q release

Baird reiterated an Outperform rating on Apple, Inc. (NASDAQ: AAPL) and raised their price target on the stock to $180.00 (From $170.00) ahead of the technology companys 2Q earnings report. Apple is scheduled to report results after market close on May... More

Ford (F) cuts price of Mach-E after Tesla (TSLA) raises prices in multiple markets

Ford (NYSE: F) announced Tuesday that the American automaker is cutting prices on its Mustang Mach-E electric vehicle and reopening orders after a series of price cuts by rival automaker Tesla Inc (NASDAQ: TSLA).

Ford said it is cutting most Mach-E prices by $3,000 or $4,000 depending on the version. Last month, the federal EV tax credit for the Mach-E fell in half to $3,750 from $7,500 after new... More

Piper Sandler cuts price target on Tesla (TSLA) following 10-Q filing

Piper Sandler reiterated an Overweight rating on Tesla (NASDAQ: TSLA) and cut their price target on the stock to $280.00 (From $300.00) to reflect information extracted from the electric automakers 10-Q filing.

Analyst Alexander Potter wrote in a note, Most investors will be unsurprised to learn that... More

Tesla (TSLA) raises prices in key markets around the world; not about demand say Citi

American electric vehicle giant, Tesla (NASDAQ: TSLA) announced a price hike Tuesday for all variants of the companys Model 3 and Model Y vehicles in key markets, including the U.S., China, Japan, and Canada after several cuts this year. Citi analyst Jeff Chung believes that the hike is not about recovering demand.

According to our channel checks with dealers, we estimate new order... More

Advanced Micro Devices (AMD) PT raised at Morgan Stanley on potential 2nd half improvements

Morgan Stanley hiked its Advanced Micro Devices, Inc. (NASDAQ: AMD) price target to $102 from $87 per share in a note Monday, maintaining an Overweight rating on the stock.

Analyst Joseph Moore told investors that they are trimming AMD data center numbers as "cloud... More

U.S. might delay decision to add EVs to biofuel credit program

According to a Reuters report Monday, citing unnamed sources, that the United States Government could delay a decision on giving eRIN tradable credits to EVs under a renewable fuel program over concerns about expected legal challenges.

Last year, the U.S. Environmental Protection Agency (EPA) proposed to significantly expand the current Renewable Fuel Standard (RFS) to include the so-called eRIN proposal which would allow automakers to generate eRINs tradable credits based on the EVs they sell by establishing contracts with parties that produce electricity from biogas.

The plan would have... More

Ris/reward for Uber (UBER) attractive, claims Mizuho analyst

Mizuho analyst James Lee told investors in a note Monday that the firm is constructive on Uber (NYSE: UBER) into the quarter despite positive investor expectations.

The analyst, who has a $50 price target on Buy-rated Uber, told investors that air travel data is positive for Mobility's profitability and that based on airport... More