Dow Jones, Nasdaq, S&P 500 weekly preview: AI has its 'iPhone moment'

Volvo launches EX30 electric SUV

Swedish luxury automaker, Volvo launched their new fully-electric EX30 SUV on Wednesday with two battery options and a starting price of around 36,000 euros ($38,500). The EX30 is Volvos smallest SUV to date and follows the unveiling of the larger electric EX90 in November.

"It's a small SUV doing Volvo things," CEO Jim Rowan said during the car's launch event in Milan,... More

CIENA (CIEN) PT Lowered to $50 at Evercore ISI

Evercore ISI analyst Amit Daryanani lowered the price target on CIENA (NYSE: CIEN) to $50.00 (from $57.00) while maintaining a In Line rating.

The analyst comments " Net/Net: We think these pushouts are logical given how extended lead times had gotten. This should... More

Global EV penetration reaches 14% in April with promising uptick in May

Barclays April report card shows that global electric vehicle penetration reached 14% in April, slightly outpacing last years EV penetration of 13%; however, it fell short of the heightened levels observed in the fourth quarter of 2022. Shifting focus to May, the industry is demonstrating promising signs of a substantial m/m increase in EV penetration, indicating a positive trajectory.

Additionally, while Tesla's (NASDAQ: TSLA) market share remains stable, the actual strength might not be as robust as the price reductions would have you expect. Lastly, the US electric vehicle market continues to make... More

Deutsche Bank cuts estimates on NIO Inc. (NIO) but maintains Buy rating ahead of 1Q release

Deutsche Bank reiterated a Buy rating on NIO Inc. (NYSE: NIO) and cut their 12-month price target on the stock to $13.00 (From $19.00) ahead of the electric vehicle makers 1Q23 earnings release. NIO is scheduled to report 1Q earnings this Friday before US markets open.

Analyst, Edison Yu is expecting weak results from NIO after the company reported April and May delivery results for a combined 12,813 units, bringing the companies 1Q deliveries to 31,041 (low-end of 31,000-33,000 guidance).

During the quarter, NIO aggressively cleared out their older 866 inventory as they prepared to... More