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

Ford (F) recalls over 230,000 Ranger vehicles to fix mistakes made in previous recall

The National Highway Traffic Safety Administration (NHTSA) and Ford Motor Co. (NYSE: F) are recalling certain 2004 to 2006 Ranger vehicles because replacement front passenger air bag inflators may have been installed incorrectly.

The vehicles had received replacement front passenger air bag inflators... More

Chinese state media reports country will speed construction of EV charging facilities

Chinese state media reports Friday, quoting the nation's cabinet, that the country will speed up the construction of charging facilities for new energy vehicles (NEV) such as electric cars, and improve policies for purchasing and using them.

The government is studying policies to promote auto consumption and support... More

Tesla (TSLA) delivered 75,842 China-made vehicles in April, down 14.7% from March

China Passenger Car Association (CPCA) showed on Friday that electric vehicle maker Tesla delivered 75,842 China-made vehicles in April. Deliveries were down 14.7% compared to March, but a huge jump from a year earlier, when the city of Shanghai was in a COVID-19 lockdown. In April last year, the company delivered only 1,512 China-made Model 3 and Model Y cars.

Rival... More

Tesla (TSLA) increases price of new Model S and X in China

According to the companys website Friday, electric automaker, Tesla (NASDAQ: TSLA) raised prices on their Model S and Model X vehicles in China. The move follows hikes to its other vehicles three days prior.

The automaker raised prices by 19,000 Chinese yuan ($2,749)... More

Tesla (TSLA) reportedly using BYD batteries to build Model Y at Giga Berlin

According to a report by Teslamag.de, citing reliable sources, electric vehicle giant Tesla (NASDAQ: TSLA) has begun building a Model Y variant in Germany using batteries made by the Chinese company, BYD. With these purchases, BYD becomes the fourth battery supplier for Tesla, alongside Panasonic, LG Energy Solutions and CATL.

A Model Y without an additional designation has been in the Tesla configurator for Europe since last August. The new Model Y, like the Giga Texas Model Y All-Wheel-Drive, uses both front... More

Stellantis (STLA) recalls Mopar hybrid battery packs

American automaker Stellantis (NYSE: STLA) announced Thursday that they have issued a recall order for approximately 220 of its Mopar Service Kit Hybrid Battery Packs with part number 68488244AA. A hybrid battery pack made to fit Jeep Wranglers made between 2021 and 2023.

The... More

General Motors (GM) pleads guilty in worker safety case, fined $350,000

General Motors (NYSE: GM) has been fined $325,000 in Canada after pleading guilty to failing to take every precaution reasonable in the circumstances leading to the death of a worker at the automakers St. Catharines facility on October 22, 2021.

The company pled guilty in... More

'We are not setting up a joint venture', VW and Bosch cancel plans for battery cells

Bosch announced Thursday along with German carmaker, Volkswagen that the two companies have cancelled their plans to create a joint venture to equip battery cell factories.

The joint venture, announced at the beginning of 2022, was designed to deliver battery production systems, as well as assisting battery cell manufacturers... 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

Ford F-150 Production Disrupted By Missing Door Handles - WSJ

Ford F-150 Production Disrupted By Missing Door Handles - WSJ

Active options: TSLA AMD NVDA AAPL AMZN UBER AMC FRCB SBUX F

Active options: TSLA AMD NVDA AAPL AMZN UBER AMC FRCB SBUX F

Ford CEO calls electric vehicle market price cuts 'a worrying trend'

By David Shepardson and Joseph White

WASHINGTON (Reuters) -Ford CEO Jim Farley said on Wednesday that price cuts in the electric vehicle market were "a worrying trend" after the U.S. automaker dropped prices for its Mustang Mach-E in response to a series of reductions by rival Tesla.

Ford on Tuesday announced a price cut of up to 8% of its Mustang Mach-E electric vehicle, the second cut the automaker announced this year.

Farley compared the price war in the EV market to Henry Ford's series of price cuts... 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

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Ford Motor (F) April Total Vehicle Sales 184,002, Up 4%

Ford (NYSE: F) April Total Vehicle Sales 184,002, Up 4%

AMD, Starbucks, Estée Lauder fall premarket; Eli Lilly, Kraft Heinz rise

Investing.com -- Stocks in focus in premarket trade on Wednesday, May 3rd. Please refresh for updates.

Starbucks (NASDAQ: SBUX) stock fell 4.4% after the coffee chain decided against lifting its 2023 guidance even after beating quarterly profits, powered by a sharp recovery in business in... 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

Ford (F) PT Raised to $20 at Benchmark

Benchmark analyst Michael Ward raised the price target on Ford (NYSE: F) to $20.00 (from $19.00) while maintaining a Buy rating.... More

Ford sees $1.5 billion to $2 billion restructuring charges in 2023

(Reuters) - Ford Motor Co expects to take up restructuring charges between $1.5 billion and $2 billion in 2023, it said in a regulatory filing on Wednesday, as part of the U.S. automaker's move to exit unprofitable locations and cut headcount.

The charges will be primarily attributable to "employee separations and... More

Stellantis (STLA) Q1 Net Revenue EUR 47.2B vs EUR 45.81B Est

Stellantis (NYSE: STLA) Q1 Net Revenue EUR 47.2B vs EUR 45.81B Est

Tesla resumes U.S. orders for a Model 3 version at lower price, range

(Reuters) -Tesla Inc has resumed taking orders for its Model 3 long-range vehicle in the United States, the company's website showed late on Tuesday, after a temporary halt last year due to delivery backlogs.

The long-range version of the entry-level Model 3 is priced at $47,240 currently, about 18.5% less than the $57,990 it was priced at last August when Tesla halted taking orders in the United States and Canada.

After-hours movers: AMD, Starbucks fall following EPS; Livent gains

After-Hours Stock Movers:

Sprout Social (NASDAQ: SPT) 13% LOWER; reported Q1 EPS of $0.06, $0.07 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $75.2 million versus the consensus estimate of $75.07 million. Sprout Social sees Q2 2023 EPS of ($0.02), versus the consensus of $0.00. Sprout Social sees Q2 2023 revenue of $78.6-78.7 million, versus the consensus of $79.9 million. Sprout Social sees FY2023 EPS of $0.07-$0.08, versus the consensus of $0.04. Sprout Social sees FY2023 revenue of $332-333 million, versus the consensus of $332.23 million.

Livent... More

Ford trades in red despite robust Q1 results; No outlook boost disappoints investors

(Updated - May 3, 2023 5:10 AM EDT)

Ford Motor (NYSE: F) reported its Q1 results, with EPS of $0.63 coming in better than the consensus estimate of $0.42.

Revenue grew 20% year-over-year to $41.5 billion, beating the consensus estimate of $39.25B, thanks to the easing of supply-chain disruptions that enabled the company to more effectively cater to the robust demand for its SUVs and... More

Ford's profit rises on strong truck demand but EV outlook weighs

By Joseph White and Nathan Gomes

(Reuters) -Ford Motor Co on Tuesday posted robust first-quarter revenue and profit, thanks to strong demand for trucks and SUVs, but issued a measured full-year outlook tempered by continued losses in its electric-vehicle unit.

In a late briefing, Ford Chief Executive Officer Jim Farley said he hopes the company becomes "boringly predictable" at meeting investor expectations. Ford missed Wall Street estimates for the fourth quarter, leaving $2 billion on the table, Farley said earlier this year.

Farley also said Ford does not intend to pursue EV sales volume "at any... More

Ford Motor (F) Tops Q1 EPS by 21c

Ford Motor (NYSE: F) reported Q1 EPS of $0.63, $0.21 better than the analyst estimate of $0.42. Revenue for the quarter came in at $41.5 billion versus the consensus estimate of $39.25 billion.

Outlook:

Ford is maintaining the full-year 2023 performance expectations that the company first... More

Active options: TSLA AMZN NVDA UBER SOFI AAPL AMD META

Active options: TSLA AMZN NVDA UBER SOFI AAPL AMD META

General Motors (GM) GM North America names Rory Harvey President as Steve Carlisle announces retirement

American Automotive brand General Motors (NYSE: GM) announced Tuesday that Steve Carlisle, executive vice president and president of GM North America, is retiring after more than four decades with the company. Carlisle, 61, has been the president of GM North America since September 2020.

The company also... 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

Active options: TSLA AMZN UBER NVDA SOFI META MSFT AAPL AMD COIN ACRE

Active options: TSLA AMZN UBER NVDA SOFI META MSFT AAPL AMD COIN ACRE

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

Uber, Pfizer, Marriott rise premarket; Tesla, Chegg fall

Investing.com -- Stocks in focus in premarket trade on Tuesday, May 2nd. Please refresh for updates.

Pfizer (NYSE: PFE) stock rose 0.9% after the pharma giant beat first-quarter profit expectations as strong demand for new products helped offset... More

Dow futures fall 60 pts; Fed meeting, JOLTS data in focus

Investing.com -- U.S. stocks are seen opening in a subdued fashion Tuesday, with investors awaiting the start of the Federal Reserve two-day policy meeting as well as the release of more jobs data and corporate earnings.

At 06:50 ET (10:50 GMT), the Dow futures contract was down 60 points, or 0.2%, S&P 500 futures traded 6 points, or 0.1% lower, while Nasdaq 100 futures climbed 7 points, or 0.1%.

The main indices closed largely unchanged Monday, as the news that JPMorgan Chase (NYSE: JPM) had agreed to buy the... 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

Tesla (TSLA) PT Lowered to $280 at Piper Sandler on higher capex and estimate cuts in 2023-2025

Piper Sandler analyst Alexander Potter lowered the price target on Tesla (NASDAQ: TSLA) to $280.00 (from $300.00) while maintaining a Overweight rating.

"We are adjusting our forecast and reducing our DCF-based price target to $280 (down from $300 previously), to reflect information extracted from the 10-Q.... More

Stellantis (STLA) May 17 straddle into quarter results

Stellantis (NYSE: STLA) May 17 straddle is priced for a move of 6% into the expected release of quarter results before the bell on May 3.

Ford Motor (F) May weekly 12 straddle into quarter results

Ford Motor (NYSE: F) May weekly 12 straddle is priced for a move of 5.5% into the expected release of quarter results today after the bell.

Tesla raises prices in US, China, Japan and Canada

By Akriti Sharma

(Reuters) -Tesla Inc has raised prices in a range of up to $290 in Canada, China, Japan and the United States, its website showed on Monday, after the company slashed prices of its top-selling vehicles since the start of the year.

The hike was the first on its two top-selling models at the same time in multiple markets, although prices across its lineup are much lower than in January, after a round of discounts. Shares rose nearly 2% in early trading.

Last month Chief Executive Elon Musk said the company would prioritize sales growth... 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

General Motors (GM) cuts 'several hundred' contract workers over the weekend

The Wall Street Journal announced Monday that American automaker General Motors (NYSE: GM) has laid off several hundred full-time contract workers at its Global Technical Center in Warren as well as other locations this weekend in its bid to shave $2 billion from its budget by the end of next year.

The cuts come nearly a month after... More

GM cuts several hundred full-time contract workers

By David Shepardson and Nathan Gomes

(Reuters) -General Motors Co on Monday said it had cut several hundred full-time contract workers over the weekend including at its engineering hub in suburban Detroit, the latest effort by the U.S. automaker to streamline operations.

The contractors losing their jobs were within global product development at locations such as the company's Warren Tech Center. The Wall Street... More

General Motors (GM) Cuts Several Hundred Contract Workers Over Weekend - WSJ

GM (NYSE: GM) Cuts Several Hundred Contract Workers Over Weekend - WSJ

Ford Motor (F) option implied volatility into quarter results

Ford Motor (NYSE: F) May weekly call option implied volatility is at 65, May is at 45; compared to its 52-week range of 33 to 587 into the expected release of quarter results after the bell on May 2.

Active options: TSLA NVDA AMZN SOFI AAPL AMD AMC JPM MSFT

Active options: TSLA NVDA AMZN SOFI AAPL AMD AMC JPM MSFT

First Republic, ExxonMobil fall premarket; JPMorgan, GM rise

Investing.com -- Stocks in focus in premarket trade on Monday, May 1st. Please refresh for updates.

First Republic Bank (NYSE: FRC) stock fell 34% and JPMorgan... More

Dow Jones, Nasdaq, S&P 500 weekly preview: The end of the Fed hiking cycle?

The S&P 500 (SPX) ended 0.9% higher last week to secure the highest weekly close since August last year. The index is now approaching a key 100 weekly moving average at 4203 in what would be the first test of this important technical indicator in 8 months.

The Dow Jones Industrial Average (DJI) also rose 0.9%. More importantly, the index secured the first weekly close above the key descending trend line (~33800), which acted as major resistance for several months. This should be seen as a bullish sign.

Finally, strong Big Tech earnings lifted Nasdaq Composite Index (IXIC) 1.3% higher last week. The... More

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

Investing.com -- First Republic Bank has been taken over by Californian authorities with JPMorgan Chase assuming its deposits, at the start of a week that includes a Federal Reserve meeting, Apple earnings, and the monthly U.S. jobs report.

1. First Republic Bank falls

First Republic Banks (NYSE: FRC) days as a stand-alone entity are over, after California's financial regulator announced on Monday that it has taken possession of the San Francisco-based lender, while JPMorgan Chase (NYSE:... More

Biden Administration Considers Delaying Final Rule On Incorporating Electric Vehicle Industry Into Us Biofuel Blending Program - Reuters

Biden Administration Considers Delaying Final Rule On Incorporating Electric Vehicle Industry Into Us Biofuel Blending Program - Reuters

Morgan Stanley upgrades General Motors (GM), sees attractive risk reward

Morgan Stanley analyst Adam Jonas upgraded General Motors (NYSE: GM) shares to Overweight from Equal Weight with the price target also raised ($38 vs prior $35 per share).

The analyst also hiked the bull-case forecast for GM stock to $60 from $50 per share. Jonas believes GM stock is oversold... More

Morgan Stanley Upgrades General Motors (GM) to Overweight, 'the stock is oversold'

(Updated - May 1, 2023 6:03 AM EDT)

Morgan Stanley analyst Adam Jonas upgraded General Motors (NYSE: GM) from Equalweight to Overweight with a price target of $38.00 (from $35.00).

The analyst comments "GM may be overearning, but the stock is oversold. The market has... More

Ford Motor (F) May weekly 12 straddle into quarter results

Ford Motor (NYSE: F) May weekly 12 straddle is priced for a move of 6% into the expected release of quarter results after the bell on May 2.