Lowe's, Zoom, Microsoft rise premarket; Macy's, Dick's Sporting Goods fall

Wall Street analyst believes this major tech stock is 'on the cusp of a margin renaissance'

August 24, 2023 2:19 PM EDT

According to Piper Sandler, there is one major tech player that is "on the cusp of a margin renaissance."

Piper Sandler analyst Thomas Champion made the comment in a note to clients on Thursday, also raising the firm's price target on the stock.

Champion lifted the price target for Overweight-rated Amazon (NASDAQ: AMZN) to $185 from $175, telling investors that after a second look at... More

Tesla (TSLA) Investors can expect to see payouts from Elon Musk's SEC settlement soon

August 24, 2023 2:02 PM EDT

In a Wednesday night court filing concerning a legal dispute stemming from a tweet sent by Tesla (NASDAQ: TSLA) CEO Elon Musks in 2018 shows 3,350 eligible claimants will share in a $41.53 million payout.

Musk drew the SEC's attention in August 2018, tweet saying he was thinking about taking Tesla private and had "funding secured" with "investor support." When the plan fell... More

Tesla (TSLA) virtual power plants will energize Texas grid

August 24, 2023 11:14 AM EDT

A recent press release by the Public Utility Commission of Texas (PUCT) reveals that electric vehicle company, Tesla (NASDAQ: TSLA) will be providing Virtual Power Plant (VPP) solutions to the state's power grid. This initiative is a component of the Aggregate Distributed Energy Resource (ADER) initiative promoted by PUCT in 2022.

According to the press... More

NVIDIA (NVDA) PT Raised to $600 at CFRA, 'we see FCF growth at +$23B in FY 24'

August 24, 2023 10:10 AM EDT

CFRA analyst Angelo Zino raised the price target on NVIDIA (NASDAQ: NVDA) to $600.00 (from $500.00) while maintaining a Buy rating.

The analyst comments "We increase our 12-month target to $600 from $500, on P/E of 32.6x our CY 25 EPS view, above peers but below... More

Former XPeng (XPEV) autonomous driving head joins Nvidia (NVDA)

August 24, 2023 8:24 AM EDT

Wu Xinhou, the former vice president of autonomous driving at Xpeng (NYSE: XPEV), announced Thursday that he is joining U.S. artificial intelligence giant Nvidia (NASDAQ: NVDA).

Although Wu didn't provide specific details about his new position at Nvidia,... More

NVIDIA (NVDA) PT Raised to $605 at Goldman Sachs, 'Strong Gen AI Demand and Improving Supply to Drive Continued Outperformance'

August 24, 2023 5:49 AM EDT

Goldman Sachs analyst Toshiya Hari raised the price target on NVIDIA (NASDAQ: NVDA) to $605.00 (from $495.00) while maintaining a Buy rating.

The analyst comments "Nvidia delivered against heightened investor expectations as growing investments in Gen AI infrastructure drove a 21% revenue beat and non-GAAP EPS (excl. SBC)... More

NVIDIA (NVDA) PT Raised to $600 at BMO Capital, 'High Bar? Not a Problem'

August 24, 2023 5:06 AM EDT

BMO Capital analyst Ambrish Srivastava raised the price target on NVIDIA (NASDAQ: NVDA) to $600.00 (from $550.00) while maintaining a Outperform rating.

The analyst comments "The company delivered another meaningful beat and raise. The AI demand continues to climb meaningfully higher. NVIDIA's visibility is... More

Tesla (TSLA) cuts production targets in Germany as output slows

August 23, 2023 10:23 AM EDT

A story by Business Insider Wednesday, citing internal documents and unnamed sources, reports that electric vehicle maker, Tesla (NASDAQ: TSLA) has decided to cut their production targets for their German facility to 4,350 a week in July and August after hitting 5,000 a week in March with plans to reduce it further.

In late March, the American EV maker shared a... More

Medtronic, Inc. (MDT) PT Raised to $95 at Stifel

August 22, 2023 3:58 PM EDT

Stifel analyst Rick Wise raised the price target on Medtronic, Inc. (NYSE: MDT) to $95.00 (from $92.00) while maintaining a Buy rating following earnings.

The analyst commented, "CEO Geoff Marthas transformation initiatives were more-visible than we expected, as evidenced by Medtronic's outperformance in what... More

Texas EV owners prepare as additional fees kick in Sep. 1st

August 22, 2023 2:30 PM EDT

Texas electric vehicle owners are preparing for a rule change after state lawmakers approved a $200 annual fee added to their EVs registration charges.

Earlier this year, Texas lawmakers gave the green light to a fee that applies to all electric cars and trucks in the state. This fee, including a $400 charge for first-time registration, aims to fix what legislators pointed out as an... More

Tesla (TSLA) China registration numbers suggest a strong August showing

August 22, 2023 1:46 PM EDT

Recent estimates from industry watchers indicate that Teslas (NASDAQ: TSLA) China unit is in position to report impressive August numbers, with estimates showing the car maker receiving 13,900 insurance registrations in the week ending August 20. Less than 1% off their 2nd week numbers, which were estimated at 14,000.

Looking at Tesla's performance during the week of August 14-20, 2023, it seems that the company has achieved approximately 39,400 new... More

Zoom (ZM) gives up earnings-related gains, falls 4%

August 22, 2023 9:41 AM EDT

Zoom (NASDAQ: ZM) shares give up after-hours earnings related gains, last down 4.2%.

shares were up as much as 10% after-hours following the resultsanalysts were mixed, noting losses in enterprise... More