Will the EU postpone Brexit tariffs on EVs?
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Judge clears Tesla (TSLA) of wrongdoing in toxic workplace lawsuit
September 20, 2023 1:38 PM EDTTesla (NASDAQ: TSLA) cleared of any wrongdoing on Tuesday in a lawsuit concerning to a toxic workplace, initiated by shareholders.
On Tuesday, a federal court determined that the lawsuit filed by the shareholders had deficiencies in its allegations. The lawsuit had accused Tesla of causing... More
Tesla (TSLA) reinstates free car offer through referral program
September 20, 2023 11:19 AM EDTTesla (NASDAQ: TSLA) is once again offering free vehicles through its referral program, encouraging individuals to persuade others to experience a test drive or make a purchase of one of the company's automobiles or energy products.
Tesla introduced the opportunity for individuals to potentially win a Model 3 Performance for just 1,000 credits, and owners are... More
This car stock would benefit from the rising EU-China trade tensions - Bernstein
September 20, 2023 9:49 AM EDTEuropean automotive manufacturers greatly benefited when China opened its economic doors in the 1990s. They established business models that heavily depended on a well-functioning global trade system. However, the situation has now reversed, with Chinese automotive manufacturers actively pursuing entry into the European markets.
Chinese global automotive exports by volume grew by +88% during the first half of 2023, and +121% in value terms. Electric vehicles represented 23% of exports in 2022. Chinese-made... More
Federal Tesla (TSLA) probe examines perks given to Musk going back several years
September 19, 2023 3:01 PM EDTAn exclusive story by the Wall Street Journal Tuesday reports that federal prosecutors in a probe of electric vehicle maker Tesla (NASDAQ: TSLA) are scrutinizing personal benefits the company may have provided to CEO Elon Musk since 2017. The inquiry is part of a criminal investigation examining issues including a proposed house for the multi-billionaire executive.
The U.S. Attorney's Office for the Southern District of New York is actively seeking details regarding transactions between Tesla and various entities linked to Musk. According to individuals familiar with the... More
Musk denies WSJ report on potential Tesla (TSLA) factory in Saudi Arabia
September 18, 2023 2:08 PM EDTTesla CEO Elon Musk took to his social media platform X to deny a recent report from The Wall Street Journal which suggested that his electric vehicle company, Tesla (NASDAQ: TSLA) and the kingdom of Saudi Arabia are in early discussions for a potential factory in the country. In the post, Musk noted that the report was another utterly false article from the... More
Active options: TSLA AAPL NVDA AMD AMZN NKLA META GOOGL
September 18, 2023 12:55 PM EDTActive options: TSLA AAPL NVDA AMD AMZN NKLA META GOOGL
... MoreU.S. stocks are mixed as investors look to Fed's rate meeting
September 18, 2023 11:38 AM EDTInvesting.com -- U.S. stocks were mixed on Monday morning as investors prepared for comments from Federal Reserve Chair Jerome Powell this week, after the central bank's latest decision on interest rates.
At 10:58 ET (14:58 GMT), the Dow Jones Industrial Average was up 20 points or 0.1% while the S&P 500 was up 0.1% and the NASDAQ Composite was down 0.05%.
The Dow Jones Industrial Average squeezed out a small increase last week, while the broad-based S&P 500 and tech-heavy Nasdaq Composite slipped for the second consecutive week.
Fed... More
Tesla's (TSLA) Musk Says WSJ Article on Talks with Saudi Arabia for EV Factory "Utterly False"
September 18, 2023 11:21 AM EDTTesla's (NASDAQ: TSLA) Musk Says WSJ Article on Talks with Saudi Arabia for EV Factory "Utterly False"
Yet another utterly false article from WSJ pic.twitter.com/sisFcxYKxI
Elon Musk (@elonmusk) September 18, 2023
Tesla (TSLA) Q3 delivery estimates cut at GLJ Research
September 18, 2023 10:13 AM EDTGLJ Research analyst Gordon Johnson reiterated a Sell rating and $24.33 price target on Tesla (NASDAQ: TSLA) and cut his Q3 delivery estimates.
The analyst commented, "Tesla Can No Longer Grow at its 50%/yr Mirage Without a Much Cheaper Car it Wont... More
Active options: TSLA AAPL NVDA AMD AMZN NKLA PLTR DIS
September 18, 2023 9:53 AM EDTActive options: TSLA AAPL NVDA AMD AMZN NKLA PLTR DIS
... MoreGoldman Sachs cuts estimates on Tesla (TSLA) following demand analysis
September 18, 2023 8:24 AM EDTConsidering the persistent attention from investors on the broader economic context and the demand for electric vehicles, Goldman Sachs conducted an analysis of the most recent indicators related to automotive demand.
The findings revealed that year-to-date sales have shown year-on-year growth across all three regions.
Year-to-date, sales in the United States have surged by 14% compared to the previous year, and in August, they experienced a remarkable 17% year-on-year increase. Meanwhile, in Europe, sales... More
Lucid Group (LCID) on watch as Tesla gets cozy with Saudi Arabia
September 18, 2023 8:01 AM EDTLucid Group (NASDAQ: LCID) shares are on watch as Tesla (NASDAQ: TSLA) is reportedly in talks to set up a manufacturing facility in Saudi Arabia, a country where Lucid has a foothold.
Lucid's largest investor is... MoreTesla (TSLA) in early talks to enter Saudi Arabia
September 18, 2023 7:15 AM EDTThe Wall Street Journal reports Monday morning, citing unnamed sources, that electric vehicle giant, Tesla (NASDAQ: TSLA) has entered talks with Saudi Arabia about setting up a manufacturing facility in the country.
The discussions are in their initial phases and any potential agreement might face significant challenges due to the tense association between Tesla's CEO, Elon Musk, and the Saudi officials, as well as the kingdom's current collaboration with... More
Tesla (TSLA), Saudi Arabia In Early Talks For EV Factory - WSJ
September 18, 2023 6:51 AM EDT(Updated - September 18, 2023 6:57 AM EDT)
Tesla (NASDAQ: TSLA), Saudi Arabia In Early Talks For EV Factory - WSJ
Saudi Arabia has been wooing Tesla with the right to purchase certain quantities of metals and minerals the company needs for its EVs... MoreStellantis NV (STLA:IM) (STLA) PT Raised to EUR24 at Goldman Sachs
September 18, 2023 6:04 AM EDTGoldman Sachs analyst George Galliers raised the price target on Stellantis NV (STLA:IM) (NYSE: STLA) to EUR24.00 (from EUR23.00) while maintaining a Buy rating.... More
Goldman Sachs Reiterates Neutral Rating on Tesla (TSLA), Lowers Estimates
September 18, 2023 5:32 AM EDTGoldman Sachs analyst Mark Delaney reiterated a Neutral rating and $275.00 price target on Tesla (NASDAQ: TSLA).
"We lower our 2023 and 2024 EPS estimates for Tesla, mostly on lower ASPs and in turn auto gross margin ex credit assumptions (driven by... More
Active options: TSLA NVDA AAPL AMZN AMD META MSFT NFLX
September 18, 2023 5:22 AM EDTActive options: TSLA NVDA AAPL AMZN AMD META MSFT NFLX
... MoreUAW President: Tomorrow We Expect To Be At Bargaining Table - Bloomberg
September 15, 2023 2:39 PM EDTUAW President: Tomorrow We Expect To Be At Bargaining Table - Bloomberg
... MoreUnions call for one-day strike at Stellantis (STLA) plant in Italy
September 15, 2023 2:20 PM EDTOn September 18, unions, including UILM, FIM-CISL, Fismic, and Uglm called for a one-day strike at Stellantis' (NYSE: STLA) Melfi plant in southern Italy in response to the carmaker's lack of communication regarding its future production plans at the facility.
In June, the Franco-Italian company had revealed its intention to... More
Stocks were falling as investors await direction from the Fed on rates
September 15, 2023 2:06 PM EDTInvesting.com -- U.S. stocks were falling on Friday as investors turn their attention to the Federal Reserve's next interest rate decision.
At 12:40 ET (16:40 GMT), the Dow Jones Industrial Average was down 170 points or 0.5% while the S&P 500 was down 0.8% and the NASDAQ Composite was down 1.1%.
The three major Wall Street indices posted strong gains on Thursday, helped by the positive reaction to the debut of chip designer Arm (NASDAQ:... More
Biden Says Record Profits Should Mean Record Contracts For UAW
September 15, 2023 12:18 PM EDTBiden Says Record Profits Should Mean Record Contracts For UAW
... MoreMorgan Stanley Positive on NIO (NIO); 'Putting the final piece of NT2.0 upgrade into place'
September 15, 2023 11:00 AM EDTMorgan Stanley analyst Tim Hsiao reiterated an Overweight rating and $18.70 price target on NIO (NYSE: NIO)
The analyst comments "On Sep 15, NIO officially showcased NT2.0 EC6 with a starting price of Rmb358k (with 75kWh battery) vs. the old version's Rmb396k, largely in... More
U.S. stocks fall as investors turn attention to Fed meeting
September 15, 2023 10:38 AM EDTInvesting.com -- U.S. stocks were falling on Friday but headed for a positive week as investors turn their attention to the Federal Reserve's next interest rate decision.
At 10:27 ET (14:27 GMT), the Dow Jones Industrial Average was down 113 points or 0.3% while the S&P 500 was down 0.6% and the NASDAQ Composite was down 1%.
The three major Wall Street indices posted strong gains on Thursday, helped by the positive reaction to the debut of chip designer... More
Stellantis (STLA) October option implied volatility amid strike headlines
September 15, 2023 10:29 AM EDTStellantis (NYSE: STLA) October call option implied volatility is at 28, November is at 31; compared to its 52-week range of 23 to 423.
... MoreIncreasing unusual call option volume: URTY NAT GRAB DB EQX ACB
September 15, 2023 9:40 AM EDTIncreasing unusual call option volume: URTY NAT GRAB DB EQX ACB
... MoreTesla (TSLA) mentioned positive
September 15, 2023 9:37 AM EDTTesla (NASDAQ: TSLA) was said mentioned positive at YipitData, noting Q3 quarter-to-date deliveries were slightly ahead of the prior quarter. The firm notes TSLA delivered 112k vehicles in the first two months of 3Q23, slightly ahead of the run rate in 2Q23 on a higher volume of Model 3 deliveries QTD.
... MoreDetroit 3 fall as UAW begins strike
September 15, 2023 8:44 AM EDTThe stock prices of Detroit automakers General Motors (NYSE: GM) and Ford (NYSE: F) have declined in pre-market trading Friday, while Stellantis (NYSE: STLA) has seen a slight increase. This shift in stock prices follows reports of an impending walk-out and strike by the United Auto Workers (UAW) union against the Big Three companies.
Before the September 14th deadline at 11:59 pm ET, negotiations between the UAW and the management teams of Ford, General Motors, and Stellantis failed to reach an agreement on... More
Arm set to extend gains, Chinese data lifts sentiment - what's moving markets
September 15, 2023 6:29 AM EDTInvesting.com -- Arm (NASDAQ: ARM) shares climb in premarket U.S. trading, putting them on track to extend their strong start after a much-anticipated debut on Thursday, while investors look ahead to another public listing by grocery-delivery service Instacart. Elsewhere, workers at factories owned by three major automakers go on strike, while new data suggests that China's faltering economy may be starting to stabilize.
1. Futures mixed after Arm IPO drives positive... More
UAW workers at Big Three U.S. automakers go on strike
September 15, 2023 6:16 AM EDTU.S. big-three auto stocks are mostly lower in pre-open trading after UAW workers at GM (NYSE: GM), Ford (NYSE: F), and Stellantis N.V. (NASDAQ: STLA) went on... More
Shares of Detroit Three briefly hit as US workers' strike raises profit worries
September 15, 2023 5:26 AM EDTBy Abhijith Ganapavaram and Nathan Gomes
(Reuters) -A strike by U.S. auto workers briefly hit shares of Ford Motor, General Motors and their suppliers on Friday on worries that the labor action at the factories that make some of the most profitable vehicles could hurt earnings.
The walkouts will halt production at three factories of the "Detroit Three" automakers that make Ford Bronco, Jeep Wrangler and Chevrolet Colorado pickup truck, along with other popular models.
Ford and General Motors fell in early trade before reversing course to trade up 1% and 2%, respectively, while U.S.-listed... More
Stellantis (STLA) option implied volatility amid strike headlines
September 15, 2023 3:34 AM EDTStellantis (NYSE: STLA) September call option implied volatility is at 70, October is at 34; compared to its 52-week range of 23 to 423.
... MoreBiden considers aid for small suppliers as UAW strike seems likely
September 14, 2023 2:53 PM EDTAccording to a report from Reuters on Thursday, citing a source with knowledge of the matter, suggests that the Biden administration is considering emergency aid to safeguard smaller businesses supplying U.S. automobile manufacturers in the event of a strike by the United Auto Workers (UAW) union.
For several months now, the UAW has been engaged in intense negotiations with Detroits Big Three: Stellantis (NYSE: STLA), Ford (NYSE: F), and... More
Active options: TSLA AAPL NVDA AMZN AMD META AMC AMD NFLX GOOGL
September 14, 2023 2:35 PM EDTActive options: TSLA AAPL NVDA AMZN AMD META AMC AMD NFLX GOOGL
... MoreTesla (TSLA) achieves a breakthrough in affordable EVs
September 14, 2023 11:17 AM EDTReuters reports Thursday, citing unnamed sources, that electric automaker, Tesla (NASDAQ: TSLA) is on the verge of a major technological breakthrough that could change the way electric vehicles (EVs) are made.
According to the report, Tesla has integrated a range of innovations to achieve a technological milestone that has the potential to revolutionize its electric vehicle manufacturing process, aligning with Elon Musk's goal of reducing production expenses by half.
As per the unnamed... More
Tesla (TSLA) option IV steady as share price near three-month high
September 14, 2023 10:21 AM EDTTesla (NASDAQ: TSLA) 30-day option implied volatility is at 50; compared to its 52-week range of 42 to 96 amid United Auto Workers contract negotiations.
... MoreStellantis (STLA) September option implied volatility increases amid current union contracts ending
September 14, 2023 10:06 AM EDTStellantis (NYSE: STLA) September call option implied volatility is at 78, October is at 34; compared to its 52-week range of 23 to 423 into their current union contracts ending tonight.
... MoreWatch these three China EV stocks as EU probe takes shape
September 14, 2023 9:52 AM EDTThe European Union announced this week that they have opened an investigation into subsidies for China EVs, with European Commission President Ursula von der Leyen accusing China of flooding global markets with electric cars with artificially low prices due to huge state subsidies.
Hong Kong-listed shares of market leader BYD fell more than 3% on the news. Shares of Nio (NYSE: NIO) traded down more than 4% on the NYSE, Wednesday, with XPeng (NYSE:... More
JPM says UAW strike would likely last less than 45 days
September 14, 2023 8:48 AM EDTThe United Auto Workers (UAW) leadership has declared its intention to strike any and all OEMs for which a new contract has not been finalized by the current contract's expiration date at midnight on Thursday.
J.P. Morgan analyst, Bill Peterson wrote in a note that JPMs auto team sees a high likelihood of a strike occurring, but expects any strike to be shorter than the 45 days at GM in 2019 given lean inventory levels.
According to JPMs automotive... More
European autos slump on China probe
September 14, 2023 8:27 AM EDTEuropean Commission President Ursula von der Leyen revealed Wednesday that the European Union is starting an inquiry into the financial support provided by China for electric vehicles (EVs). She pointed out that significant state subsidies in China are intentionally keeping the prices of Chinese EVs artificially low, a situation that could potentially disrupt the European Union market.
For German OEMs, the risk of retaliation in China... More
Any UAW strike to be shorter than the 45 days at GM in 2019 given lean inventory levels - JPMorgan
September 14, 2023 6:24 AM EDTJPMorgan analyst Ryan Brinkman sees a high likelihood of a UAW strike occurring but expects any strike to be shorter than the 45 days at GM in 2019 given lean inventory levels.
"If no strike occurs then that would mean OEMs likely giving in to the higher end of... More
UAW nears strike at Detroit Three as Ford blasts union
September 14, 2023 6:03 AM EDTBy David Shepardson
(Reuters) -A first-ever simultaneous strike at the Detroit Three carmakers by the United Auto Workers grew all but certain on Thursday with little progress reported in talks hours before a contract deadline expires.
The union - which represents 146,000 U.S. auto workers - is asking for 40% pay raises through September 2027 and major improvements in benefits as part of what it calls "audacious" demands.
The UAW has outlined plans for a series of strikes targeting individual, undisclosed U.S. auto plants if agreements are not reached by 11:59 pm ET Thursday, rather than a full... More
Stellantis (STLA) option IV into their current union contracts ending
September 14, 2023 3:35 AM EDTStellantis (NYSE: STLA) September call option implied volatility is at 65, October is at 34; compared to its 52-week range of 23 to 423 into their current union contracts end on September 14.
... More