Major automakers unite to form new EV charging company in the US

Stellantis (STLA) buys 33.3% of Symbio, joins Forvia and Michelin as equal shareholder

July 28, 2023 1:36 PM EDT

Stellantis (NYSE: STLA) confirmed Friday the 33.3% purchase of zero-emission hydrogen mobility company, Symbio. The automaker joins Forvia and Michelin as equal shareholders in the company.

The announcement marks a significant milestone in advancing the decarbonization of the mobility industry, showcasing Symbio's exceptional technological prowess in... More

Tesla (TSLA) discussing market entry with India investment agency

July 28, 2023 11:44 AM EDT

According to Reuters' Friday report, based on information from "two individuals familiar with the situation," two high-ranking Tesla (NASDAQ: TSLA) executives engaged in discussions with officials from India's investment promotion arm in New Delhi regarding the company's potential entry into the Indian market.

U.S. EV giant has... More

Western OEMs look to cut costs in fight against Chinese EV 'invasion'

July 27, 2023 2:31 PM EDT

French car maker, Renault announced Thursday that the company was aiming to cut its EV production costs by 40%, as growing fears of an "invasion" of cheap Chinese electric cars threaten western automakers.

CFO, Thierry Pieton, expressed that the most effective strategy against price competition is to reduce the company's own development and manufacturing expenses.

Although the goal to decrease costs by 40% is aimed for 2027 and beyond, CEO Luca de Meo stated that the group anticipates considerably lower production costs starting from the latter half of this... More

GOP Senators challenge 'Buy America' waiver for EV charging stations

July 27, 2023 1:50 PM EDT

Four GOP U.S. senators, Wednesday, challenged a decision made by the Biden administration to exempt "Buy America" rules for government-backed electric vehicle charging stations.

Congress has set aside $7.5B to fund electric vehicle charging stations.

Senators Marco Rubio, Roger Marshall, Rick Scott, and Kevin Cramer argued that the Federal Highway Administration's permission to bypass U.S. content requisites for materials such as steel, iron, and construction resources would cause U.S. taxpayers to... More

Tesla (TSLA) suppressed thousands of range complaints using secret 'diversion team'

July 27, 2023 11:09 AM EDT

Reuters released a special report Thursday detailing an investigation into claims that Tesla (NASDAQ: TSLA) manipulated the dashboard displays in its electric vehicles to artificially enhance driving range projections. The report further explains the existence of a "Diversion Team" within the company to cancel range-related service appointments, leading to customer dissatisfaction and range anxiety.

According to the investigation, Tesla began exaggerating its vehicles potential driving distance about a decade ago. However, when the battery fell below 50%, the display would show drivers a more realistic projection of their remaining range.... More

Tesla (TSLA) EVs deemed security threat, barred from China's University Games

July 26, 2023 2:23 PM EDT

Chinas Summer World University Games are set to begin on August 8th. However, as important Chinese figures such as President Xi Jinping are set to attend, Tesla vehicles are being turned away.

According to several reports, Tesla vehicles are barred from the event as a security measure. Officials are being told by authorities in Chengdu to block Tesla vehicles in... More

Tesla (TSLA) recalls 1,337 vehicles for misaligned cameras

July 26, 2023 1:35 PM EDT

Tesla (NASDAQ: TSLA) has launched a recall for 1,337 2023 Model S, Model X, and Model Y vehicles due to a possible misalignment in the pitch angle of the vehicles' front-facing cameras. The specifics of this recall were outlined in a Safety Recall Report issued by the National Highway Traffic Safety Administration (NHTSA).

According to the Safety Recall... More

Tesla (TSLA) margins hurt the EV maker says Stellantis (STLA) CEO: 'They are entering my world, the world of tight pricing'

July 26, 2023 1:20 PM EDT

Stellantis (NYSE: STLA) CEO, Carlos Tavares spoke during the automakers 2Q earnings call, saying the profitability of rival automaker, Tesla (NASDAQ: TSLA) is declining as the EV giant enters the world of manufacturing and competition.

"They are entering my world, the world of tight pricing, cost competitiveness,... More

Automakers Plan Thousands Of EV Chargers In $1B US Push - WSJ

July 26, 2023 9:59 AM EDT

Automakers Plan Thousands Of EV Chargers In $1B US Push - WSJ

... More

Seven Car Companies Jointly Investing in EV Charging Stations, Sources Say - WSJ

July 26, 2023 9:58 AM EDT

Seven Car Companies Jointly Investing in EV Charging Stations, Sources Say - WSJ

Automaker Investments into Charging JV Total at Least $1 Billion, Sources Say - WSJ... More

General Motors (GM) PT Raised to $75 at BofA Securities

July 26, 2023 9:16 AM EDT

BofA Securities analyst John Murphy raised the price target on General Motors (NYSE: GM) to $75.00 (from $72.00) while maintaining a Buy rating.... More

Stellantis shares move higher after carmaker posts record sales

July 26, 2023 8:03 AM EDT

Investing.com -- Milan-listed shares in Stellantis NV (BIT: STLAM) rose on Wednesday after the U.S.-European carmaking giant posted record first-half sales thanks in part to strong demand for its electric vehicles.

The maker of popular car models like Jeep and Alfa Romeo reported net... More

Alphabet, Coca-Cola, AT&T rise premarket; Microsoft, Snap fall

July 26, 2023 7:45 AM EDT

Investing.com -- U.S. futures edged lower Wednesday, with investors digesting a deluge of corporate earnings ahead of the eagerly-awaited Federal Reserve policy meeting.

Here are some of the biggest premarket U.S. stock movers today:

Alphabet (NASDAQ: GOOGL) stock rose 6.2% after the... More

Stellantis (STLA) H1 Adjusted Operating Margin 14.4% vs 12.2% Estimate - Bloomberg

July 26, 2023 5:09 AM EDT

Stellantis (STLA) H1 Adjusted Operating Margin 14.4% vs 12.2% Estimate - Bloomberg

... More

Stellantis tops forecasts, looks to cost cuts to keep margins strong

July 26, 2023 2:08 AM EDT

By Giulio Piovaccari and Gilles Guillaume

MILAN (Reuters) -Revenue and operating profit grew at Stellantis in the first half to beat estimates, with CEO Carlos Tavares saying the automaker would have to accelerate cost cutting to keep profitability strong in a more challenging pricing environment.

The world's third largest automaker by sales said on Wednesday its January-June adjusted earnings before interest and tax (EBIT) rose 11% to 14.1 billion euros ($15.6 billion), topping the 12.1 billion expected by analysts in a Reuters poll.

New CFO Natalie Knight, who took the job this month, said... More

Stock market today: Dow extends win streak as tech shines ahead of earnings

July 25, 2023 4:15 PM EDT

Investing.com -- The Dow extended its win streak Tuesday as tech reigned supreme ahead key week of earnings for the sector and the upcoming Federal Reverse decision due Wednesday.

The Dow Jones Industrial Average rose 0.1%, or 26 points, Nasdaq was up 0.6%, and the S&P 500 rose 0.3%.

Big tech in spotlight as Microsoft, Alphabet set to report; Chip stocks soar

Alphabet (NASDAQ: GOOGL) and Microsoft (NASDAQ: MSFT) climbed higher into their quarterly results due after the market closes.

... More

Active options: TSLA AMC MSFT NVDA AAPL GOOGL SNAP AMZN

July 25, 2023 4:01 PM EDT

Active options: TSLA AMC MSFT NVDA AAPL GOOGL SNAP AMZN

... More

S&P 500 rises on tech strength ahead of Microsoft, Alphabet Results

July 25, 2023 3:54 PM EDT

Investing.com -- The S&P 500 advanced Tuesday as investors piled into tech stocks ahead of quarterly results from Microsoft and Alphabet and the Federal Reverse decision due Wednesday.

The S&P 500 rose 0.4%, the Dow Jones Industrial Average rose 0.2%, or 59 points, Nasdaq was up 0.8%.

Big tech in spotlight as Microsoft, Alphabet set to report; Chip stocks soar

Alphabet (NASDAQ: GOOGL) and Microsoft (NASDAQ: MSFT) climbed more than 1% into their quarterly results due after the market closes.

... More

GM to add battery module assembly to some North American EV plants

July 25, 2023 3:48 PM EDT

By Paul Lienert

(Reuters) - General Motors will begin assembling electric vehicle battery packs near its BrightDrop commercial van plant in Ingersoll, Ontario, in the second quarter of 2024, the company said Tuesday, and will add pack assembly at other North American plants.

The 400,000-square-foot Ingersoll facility will make packs for CAMI Assembly, which last week temporarily halted production of BrightDrops Zevo electric vans because of an ongoing battery shortage.

A... More

Stellantis (STLA) in the money January puts active into quarter results

July 25, 2023 10:43 AM EDT

Stellantis (NYSE: STLA) August call option implied volatility is at 34, September is at 27; compared to its 52-week range of 23 to 422 into the expected release of quarter results before the bell on July 26. Call put ratio 1 call to 5.4 puts with focus on January 25 puts.

... More

Elon Musk to appeal loss in SEC case to Supreme Court

July 25, 2023 10:03 AM EDT

By Jonathan Stempel

NEW YORK (Reuters) - Elon Musk plans to ask the U.S. Supreme Court to consider whether the Securities and Exchange Commission overstepped its authority in enforcing a consent decree that he has called a "muzzle" on his free speech.

Musk would be appealing a decision by the 2nd U.S. Circuit of Appeals in Manhattan to uphold the decree, which arose from his August 2018 tweet that he had "funding secured" to take his electric car company Tesla private.

A three-judge panel... More

Active options: TSLA NIO NVDA AMC AAPL MSFT BABA AMD GM

July 25, 2023 9:58 AM EDT

Active options: TSLA NIO NVDA AMC AAPL MSFT BABA AMD GM

... More

GE, General Motors, Verizon rise premarket; Goldman Sachs, Dow fall

July 25, 2023 7:50 AM EDT

Investing.com -- U.S. futures edged higher Tuesday, as investors digest a deluge of corporate earnings ahead of a key Federal Reserve meeting.

Here are some of the biggest premarket U.S. stock movers today:

General Motors (NYSE: GM) stock rose 2% after the auto giant lifted its full-year... More

General Motors (GM) PT Raised to $40 at CFRA

July 25, 2023 7:36 AM EDT

CFRA analyst Garrett Nelson raised the price target on General Motors (NYSE: GM) to $40.00 (from $38.00) while maintaining a Hold rating.... More

GM lifts profit forecast amid strong customer demand

July 25, 2023 6:41 AM EDT

Investing.com -- General Motors (NYSE: GM) has lifted its annual profit forecast after the U.S. carmaker was boosted by strength in its core auto business in the second quarter.

The company said it now expects to report net income attributable to shareholders of... More

General Motors (GM) Tops Q2 EPS by 7c; updates outlook

July 25, 2023 6:33 AM EDT

General Motors (NYSE: GM) reported Q2 EPS of $1.91, $0.07 better than the analyst estimate of $1.84. Revenue for the quarter came in at $44.75 billion versus the consensus estimate of $41.92 billion.

GM is also updating its full-year 2023 guidance for the second consecutive quarter:

U.S. GAAP net... More

GM shares fall as automaker outlines new cost-cutting drive

July 25, 2023 6:32 AM EDT

By Joseph White and Paul Lienert

DETROIT (Reuters) -General Motors is wrestling with costs and struggling to build more electric vehicles, as it reported Tuesday that adjusted pre-tax profit and margins in its key North American market fell from the first quarter, despite a jump in revenue and per-vehicle transaction prices.

Shares were down 4.4% at $37.58 in mid-day trading.

The automaker said it plans to invest less in new products and cut operating costs by an additional $1 billion through the end of next year, and lifted its full-year profit guidance.

Chief Executive Mary Barra,... More

General Motors (GM) Guides FY23 Net Income of $9.3B-$10.7B vs $8.4B-$9.9B Prior Guidance

July 25, 2023 6:03 AM EDT

General Motors (GM) Guides FY23 Net Income of $9.3B-$10.7B vs $8.4B-$9.9B Prior Guidance

... More

Microsoft and Alphabet earnings, Fed decision ahead - what's moving markets

July 25, 2023 5:41 AM EDT

Investing.com -- Microsoft and Alphabet are scheduled to unveil their quarterly earnings, with the results likely to set the tone for upcoming numbers from other tech sector titans. Meanwhile, the Federal Reserve gears up to start a highly-anticipated policy meeting and China's government vows to roll out measures to reignite the country's flagging economic recovery.

1. Microsoft, Alphabet to report

Microsoft (NASDAQ: MSFT) and Google-owner Alphabet (NASDAQ: GOOGL) are set to post their latest earnings after the close of U.S. trading on Tuesday,... More

Stellantis (STLA) July weekly 18.50 straddle into quarter results

July 25, 2023 5:07 AM EDT

Stellantis (NYSE: STLA) July weekly 18.50 straddle is priced for a move of 6.5% into the expected release of quarter results before the bell on July 26.

... More

Active options: AMC TSLA AAPL NVDA AMZN NIO BABA AMD

July 25, 2023 4:46 AM EDT

Active options: AMC TSLA AAPL NVDA AMZN NIO BABA AMD

... More

European stocks edge lower; corporate earnings start flooding in

July 25, 2023 4:30 AM EDT

Investing.com - European stock markets traded with small losses Tuesday, as investors cautiously await a raft of corporate earnings as well as more cues from the Federal Reserve and the European Central Bank.

At 03:40 ET (07:40 GMT), the DAX index in Germany traded 0.3% lower, the CAC 40 in France dropped 0.3%, while the FTSE 100 in the U.K. traded largely flat.

Earnings start to pour in

The quarterly earnings season is in full low in Europe, with... More

Stock market today: Dow rallies to keep win streak alive as energy powers ahead

July 24, 2023 4:21 PM EDT

Investing.com -- The Dow closed Monday, extending its daily win streak to an eleventh-straight gain, supported by a rally in energy as investors continue to digest better-than-expected quarterly results of reports from big tech and the Federal Reserve decision this week.

The Dow Jones Industrial Average rose 0.5%, or 184 points, to notch its longest win streak since 2017. The Nasdaq was up 0.2%, and the S&P 500 rose 0.4%.

Energy tops list of gainers

Energy stocks were the top gainers on the day, led by a climb in Halliburton Company (NYSE: HAL),... More

General Motors (GM) Declares $0.09 Quarterly Dividend; 0.9% Yield

July 24, 2023 4:00 PM EDT

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

The dividend will be payable on September 14, 2023, to stockholders of record on September 1, 2023, with an ex-dividend date of August 31, 2023.

The annual yield on the dividend is 0.9 percent.

For a... More

S&P 500 higher ahead of big tech earnings, Fed decision

July 24, 2023 3:27 PM EDT

Investing.com -- The S&P 500 rose Monday, underpinned by a rally in energy as investors continue to digest better-than-expected quarterly results of reports from big tech and the Federal Reserve decision this week.

The S&P 500 rose 0.4%, the Dow Jones Industrial Average rose 0.6%, or 191 points, Nasdaq was up 0.2%.

Energy tops list of gainers

Energy stocks were the top gainers on the day, led by climb in Halliburton Company (NYSE: HAL), Occidental Petroleum Corporation (NYSE: OXY), and... More

Sony (SONY) Honda’s (HMC) Afeela EV will be capable of lvl 3 self-driving

July 24, 2023 3:23 PM EDT

Afeela, a Japanese joint venture company established by Honda (NYSE: HMC) and Sony (NYSE: SONY), is still a ways away from releasing its first electric vehicle. However, we do know that the company is working with Qualcomm Technologies to include outfit Afeelas first production model with its Snapdragon Digital Chassis, capable of doing 800 trillion operations per second.

The EV is also expected to have no less than 45 sensors, including eight cameras and one LiDAR.... More

Tesla (TSLA) offers 7-year vehicle loans to cut monthly payments

July 24, 2023 2:54 PM EDT

Tesla (NASDAQ: TSLA) opened new financing options on their website and is now offering EV customers 84-month term limits in an attempt to lower monthly costs amidst rising interest rates and market pressure. The previous maximum term offered was 72-months.

The change follows Elon Musk's... More

India Rejects $1B BYD proposal amidst 'security concerns'

July 24, 2023 2:36 PM EDT

The Economic Times reported over the weekend that India has rejected Chinese automaker BYDs proposal to set up a $1 billion factory in the country through a partnership with Hyderabad-based Megha Engineering and Infrastructure Ltd.

BYD submitted a $1 billion investment proposal earlier this month to build electric cars and... More

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

July 24, 2023 10:55 AM EDT

General Motors (NYSE: GM) July weekly call option implied volatility is at 59, August is at 35; compared to its 52-week range of 29 to 60 into the expected release of quarter results before the bell on July 25.

... More

Active options: TSLA AMC AAPL AMZN NVDA NKLA NIO GOOGL MSFT FCX

July 24, 2023 9:48 AM EDT

Active options: TSLA AMC AAPL AMZN NVDA NKLA NIO GOOGL MSFT FCX

... More

Tesla (TSLA) to resume factory talks and plans for $24k car with India commerce minister

July 24, 2023 9:25 AM EDT

Reuters reports Monday, citing a person with direct knowledge of the matter, that Tesla (NASDAQ: TSLA) representatives are set to meet Indias commerce minister this month.

According to the person, the meeting will take place to discuss plans for the automaker to build a factory in the country to build, what the company... More

Tesla (TSLA) to discuss factory plan for new $24,000 car with India commerce minister - Reuters

July 24, 2023 8:30 AM EDT

Tesla (NASDAQ: TSLA) to discuss factory plan for new $24,000 car with India commerce minister - Reuters

Tesla has expressed an interest in building a factory in India that would produce low-cost electric vehicles (EVs) for the local market and for export, the... More

Mattel, AMC Entertainment, Chevron rise premarket; Tesla, Domino's fall

July 24, 2023 8:06 AM EDT

Investing.com -- U.S. futures traded higher Monday, starting a crucial week, which includes more corporate earnings and a Federal Reserve meeting, on a positive note.

Here are some of the biggest premarket U.S. stock movers today:

Mattel (NASDAQ: MAT) stock rose 1.5% after... More

Dow Jones, Nasdaq, S&P 500 weekly preview: All eyes on Microsoft

July 24, 2023 7:46 AM EDT

S&P 500 (SPX) gained 0.7% last week although the bulls werent able to secure a strong weekly close after printing a fresh 15-month-high. Still, the last week marked the eighth green weekly candle for the S&P 500 in the last 10 weeks as the generative AI frenzy keeps fueling the equities bull run.

Nasdaq (IXIC) lost 0.6% despite a strong rally in the opening days of the last week, ultimately resulting in a shooting star candle which is a bearish near-term signal for tech-heavy IXIC. A short-term pullback could push the index to revisit important support around 13200, suggesting a pullback of... More

Stellantis (STLA) partners with Samsung to build second U.S. EV battery plant

July 24, 2023 7:42 AM EDT

Jeep-parent Stellantis (NYSE: STLA) announced Monday it will partner with Koreas Samsung SDI to build a second electric vehicle battery plant in the United States.

The companies have announced that they are currently evaluating the location for their new plant. According to their news release, they have already entered into a memorandum of understanding; however, the finalization of the transaction is contingent upon... More

NVIDIA (NVDA) stock could hit $769 on ~$300 billion AI opportunity by 2027 - Mizuho

July 24, 2023 5:20 AM EDT

Mizuho analysts led by Vijay Rakesh conducted a deep-dive analysis of the broader server landscape and broader AI outlook amid expectations that GenAI (generative AI) will continue to drive demand.

Rakesh sees a significant opportunity for GPU supplier NVDA with the TAM (total addressable market) expanding 10 times over the next 5 years to... More

Active options: TSLA NVDA AAPL AMZN AMD META AMC RIVN

July 24, 2023 4:52 AM EDT

Active options: TSLA NVDA AAPL AMZN AMD META AMC RIVN

... More

Tesla (TSLA) stock dips as UBS cuts rating to Neutral on rich valuation

July 24, 2023 4:50 AM EDT

UBS analyst Patrick Hummel downgraded Tesla (NASDAQ: TSLA) shares to Neutral from Buy with the price target of $270 per share (up from the prior $220).

Tesla shares are down 1.7% in pre-market Monday.

The analyst sees Tesla shares as fully priced at these levels,... More

UBS Downgrades Tesla (TSLA) to Neutral, 'Strong execution fully priced'

July 24, 2023 4:16 AM EDT

(Updated - July 24, 2023 4:49 AM EDT)

UBS analyst Patrick Hummel downgraded Tesla (NASDAQ: TSLA) from Buy to Neutral with a price target of $270.00 (from $220.00).

The analyst comments "We downgrade to Neutral because we think the recent strong share performance fully reflects... More