UAW push to organize Tesla (TSLA) and non-union auto sector

U.S. to impose limitations on Chinese battery content for EV tax credits

U.S. President Joe Biden and his administration released guidance on Friday that will impose restrictions on Chinese content allowed in batteries qualifying for electric vehicle (EV) tax credits beginning next year.

In a victory for automakers, the U.S. Treasury is set to provide a temporary exemption for certain essential trace minerals from recently imposed stringent regulations that restrict materials originating from China and other nations labeled as "Foreign Entity of Concern"... More

CFRA Comments on Tesla (TSLA) Cybertruck: 'acceptable margin on the vehicle'

CFRA analyst Garrett Nelson reiterated a Buy rating and $300.00 price target on Tesla (NASDAQ: TSLA)

The analyst comments "We maintain a 12-month target of $300, based on a '25 P/E of 48x, justified by long-term growth expectations. Our estimates are unchanged. TSLA... More

NHTSA opens investigation into GM’s Chevy Volt over sudden loss of power

The National Highway Traffic Safety Administration (NHTSA) announced Friday that the U.S. auto safety regulator is opening an investigative probe into 73K Chevrolet Volt plug-in hybrid cars.

The investigation stems from consumer reports of sudden loss of power, failures to restart and other issues.

The NHTSA said it was opening the preliminary evaluation concerning the 2016 to 2019 Chevrolet Volt models due to 61... More

Ford (F) executives target changes in cost and quality

Executives at Ford (NYSE: F) revealed Thursday that the Detroit automaker is intensely focused on cost reduction strategies spanning commodities, labor, warranties, and the design of its upcoming third-generation electric vehicles.

"We're focused on making meaningful changes in cost and quality" over the next year or two, Said CFO John... More

GM looks to cut EV costs while searching for profit from green vehicles

General Motors (NYSE: GM) announced Thursday that the Detroit automaker expects substantial decreases in electric vehicle manufacturing expenses by 2024 while simultaneously ramping up the production of more lucrative vehicle models.

During a Barclays event, GM's Chief Financial Officer, Paul Jacobson, expressed confidence in the company's upcoming enhancements in EV profit margins.

He outlined projections for an upturn in margins next year, foreseeing the achievement of mid-single-digit earnings before interest and taxes margin goals by 2025.

"We don't want to be the next Tesla. We want to be... More

Musk tempers expectations ahead of Tesla (TSLA) Cybertruck event

Tesla (NASDAQ: TSLA) is preparing to start deliveries of their long-awaited Cybertruck electric pickup this Thursday, following CEO Elon Musk's cautious remarks about production challenges for this groundbreaking product.

The Cybertruck marks Tesla's debut in new vehicle models after almost four years, holding substantial importance in maintaining the brand's image as a pioneer in inventive automobiles.

Amidst a period where the company faces reduced demand for electric vehicles (EVs) and heightened competition, the success of the Cybertruck holds... More

Mercedes-Benz teams with BMW to expand EV charging in China

German automaker, Mercedes-Benz disclosed Thursday its successful negotiation with BMW to establish a collaborative partnership to focus on a robust charging network for high-powered electric vehicles in China.

The company, in its statement, outlined plans to install a minimum of 1,000 high-power charging stations, adding around 7,000 charging points across... More

General Motors (GM) PT Mentioned Cautiously at Deutsche Bank, 'uneasy with the message GM is sending'

Deutsche Bank analyst Emmanuel Rosner raised the price target on General Motors (NYSE: GM) to $35.00 (from $33.00) while maintaining a Buy rating.

The analyst comments "while we view large capital returns to shareholders positively, we are a little uneasy with the message GM is sending by doing so while... More

Stellantis (STLA) CEO concerned 2024 elections may slow EV sales

Stellantis (NYSE: STLA) CEO Carlos Tavares on Wednesday, expressed concerns about the upcoming major elections in the U.S. and the United Kingdom (UK) in 2024, cautioning that the political landscapes might influence the market for electric vehicles (EVs).

During a press conference at Stellantiss Mirafiori plant in Italy, Tavares expressed concerns about a potential deceleration in the adoption of electric vehicles.

He emphasized the risk of a shift in... More

Should you buy auto stocks on hopes of lower bond yields? - Morgan Stanley

Morgan Stanley's recent report delves into the potential impact of falling bond yields on the automotive sector. It cautions investors against basing their investment decisions solely on the anticipation of lower rates. While reduced rates might improve consumer affordability, the report suggests this logic might be flawed when considering investments in car stocks.

We think investors should focus less on bond yields and more on credit spreads, consumer confidence and employment data; yields alone are not a reason buy SXAP. This late-cycle narrative lifts our conviction that now is a good time to own Tyre stocks rather than OEMs,... More

Stellantis (STLA) Announces Executive Changes in North America

Stellantis North America today named two executives to key roles in support of the Jeep brand as the region prepares for its electric offensive in 2024. Both moves are effective December 1.

William Peffer is named responsible for Jeep brand... More

Popular stocks with increasing volume: GM BAC COIN PLTR F RIVN INTC SOFI AFRM PYPL

Popular stocks with increasing volume: GM BAC COIN PLTR F RIVN INTC SOFI AFRM PYPL

General Motors (GM) PT Raised to $32 at CFRA

CFRA analyst Garrett Nelson raised the price target on General Motors (NYSE: GM) to $32.00 (from $30.00) while maintaining a Hold rating.... More

Toyota (TM) and affiliates divest 8% stake in Denso in $4B deal

Toyota (NYSE: TM) and two related companies have announced plans to divest a minimum of 8% stake in supplier Denso (6902.T), marking a $4 billion deal.

Details of the move, announced Wednesday, have raised investor expectations that the leading automobile manufacturer globally might further reduce its extensive network of cross-shareholdings.

The sale, initially disclosed by Reuters on Tuesday, is set to become Japan's second-largest deal this year.

Furthermore, it stands as... More

Tesla (TSLA) option implied volatility into Cybertruck event

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 43; compared to its 52-week range of 42 to 97 into a Cybertruck event at Gigafactory Texas on Thursday, November 30, 2023.

General Motors (GM) takes $9.3B hit from labor deals, plans $10B buyback

General Motors (NYSE: GM) announced on Wednesday that its recent labor agreements following an extended U.S. strike will result in a $9.3 billion expense. Despite this, the company has detailed plans for $10 billion in share repurchases, a 33% hike in dividends, and a significant reduction in expenditure for its self-driving taxi venture, Cruise.

At Tuesday's closing price, the buyback amounts to approximately a quarter of GM's common... More

Active options: TSLA AAPL NVDA AMD F AMZN PLTR AMC GME BABA

Active options: TSLA AAPL NVDA AMD F AMZN PLTR AMC GME BABA

General Motors (GM) Mentioned Positively at Deutsche Bank

Deutsche Bank analyst Emmanuel Rosner reiterated a Hold rating and $33.00 price target on General Motors (NYSE: GM)

The analyst comments "This morning, GM announced financial updates that were generally above expectations, notably with very large share buyback program of $10bn, of which $6.8bn will... More

General Motors (GM) Mentioned Positively at Citi

Citi analyst Itay Michaeli reiterated a Buy rating and $90.00 price target on General Motors (NYSE: GM)

The analyst comments "GMs post-UAW business update contained a number of positives that inject the much-needed visibility and reassurance we described earlier this week (here). Key... More

Midday movers: GM, Workday, Phillips 66

(Updated - November 29, 2023 12:22 PM EST)

Investing.com -- Main U.S. indexes traded higher Wednesday, boosted by dovish comments from a top Fed official, raising hopes that the U.S. central bank has completed its series of rate increases.

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

General Motors (NYSE: GM) stock rose 10% after the auto giant reinstated its 2023 guidance, plans to boost its dividend by 33% and announced a $10 billion accelerated share buyback.

Dollar Tree (NASDAQ: DLTR) stock climbed 3% despite missing... More

Ford (F), Stellantis (STLA) Trade Higher in Sympathy with GM (GM)

Ford (NYSE: F), Stellantis (NYSE: STLA) Trade Higher in Sympathy with GM (NYSE: GM)

GM sees $9.3 billion hit from labor deals, outlines $10 billion buyback

By David Shepardson

(Reuters) -General Motors said on Wednesday its new labor deals after a lengthy U.S. strike will cost it $9.3 billion even as it outlined $10 billion in share buybacks, a 33% dividend increase and "substantially lower" spending at its robotaxi unit Cruise.

The buyback is the equivalent at Tuesday's closing price to nearly a quarter of GM's common stock. Its shares were down about 14% this year before rising 9.8% to $31.71 on Wednesday. The stock is still below the $33.66 price it closed at just ahead of the UAW strike's start on Sept. 15.

Shares in Ford and Chrysler... More

General Motors (GM) surges on $10 billion buyback plan, increased dividend

General Motors (NYSE: GM) has reinstated its 2023 earnings guidance today as it continues to expect net income in the range of $9.1 billion to $9.7 billion.

Moreover, the automaker announced a 33% increase in its dividend for 2024 and outlined plans for a $10 billion accelerated share buyback... More

General Motors (GM) reinstating full-year 2023 earnings guiance, announces $10B buyback and 33% dividend increase

General Motors Co. (NYSE: GM) announced today it is reinstating its full-year 2023 earnings guidance. In addition, the company announced a $10 billion accelerated share repurchase (ASR) program and its intention to increase its common stock dividend by 33% beginning with the January 2024 declaration.

"GM will deliver very strong profits in 2023 thanks to an exceptional portfolio of vehicles that customers love and our operating discipline," said GM Chair and CEO Mary Barra.

"We are finalizing a 2024 budget that will fully offset the incremental costs of our new labor... More

Stellantis NV (STLA:IM) (STLA) PT Raised to EUR23 at JPMorgan

JPMorgan raised its price target on Stellantis NV (STLA:IM) (NYSE: STLA) to EUR23.00 (from EUR21.00) while maintaining a Overweight rating.... More

U.S. stocks higher at close of trade; Dow Jones Industrial Average up 0.24%

Investing.com U.S. stocks were higher after the close on Tuesday, as gains in the Consumer Goods, Technology and Basic Materials sectors led shares higher.

At the close in NYSE, the Dow Jones Industrial Average added 0.24% to hit a new 3-months high, while the S&P 500 index added 0.10%, and the NASDAQ Composite index climbed 0.29%.

The best performers of the session on the Dow Jones Industrial Average were 3M Company (NYSE: MMM), which rose 1.47% or 1.43 points to trade at 98.50 at the close. Meanwhile,... More

Rivian (RIVN) recalls over 1400 R1T and R1S EVs

Rivian (NASDAQ: RIVN) has issued a recall for 1,463 R1T and R1S vehicles due to a defroster issue caused by a recent update, potentially leading to the deactivation of both defroster and defogger system controls. The issue will be fixed with an Over-the-Air... More

Fiat to auction unique Fiat 500e EVs at Basel Miami Beach event

Stellantis-owned (NYSE: STLA) Fiat auto announced Tuesday that the Italian carmaker will take center stage at Art Basel Miami Beach 2023 on December 7th, where the automaker will auction off three unique Fiat 500e electric cars.

The three Fiat 500e EVs, created in partnership with renowned Italian brands Armani, Bvlgari, and Kartell, will be showcased and auctioned at an undisclosed location. The proceeds from this auction will support a yet-to-be-disclosed nonprofit... More

Active options: TSLA NVDA AMZN AAPL MSFT AMD COIN MARA WBD AFRM

Active options: TSLA NVDA AMZN AAPL MSFT AMD COIN MARA WBD AFRM

Tesla China (TSLA) insurance registrations reach 16.7K in November’s 4th week

Tesla (NASDAQ: TSLA) China's insurance registrations show a slight increase in the week ending November 26, with a recorded count of 16,700 across the nation. This marks a 2.45% rise from the preceding week's figure of 16,300.

To provide context, the first week of November logged 14,000 insurance registrations, followed by 12,700 in the second week.

Tesla China... More

Wedbush maintains Outperform on Tesla (TSLA) ahead of 'historical' launch event

Wedbush reiterated an outperform rating on Tesla (NASDAQ: TSLA) with a 12-month price target of $310.00 on the stock as the electric automaker prepares for their much-anticipated Cybertruck delivery event this Thursday at the companys Austin gigafactory.

This is another historical moment for Tesla and Musk with the Cybertruck unveil as the Street is excited to see the formal vehicle launch, Wrote Wedbush analysts in a note.

Although the electric automaker has not... More

Toyota Motor (7203:JP) (TM) PT Raised to 3,300 at JPMorgan

JPMorgan analyst Akira Kishimoto raised the price target on Toyota Motor (7203:JP) (NYSE: TM) to 3,300.00 (from 3,000.00) while maintaining a Overweight rating.... More

GM cuts spending on self-driving Cruise brand

General Motors (NYSE: GM) announced Tuesday that the Detroit automaker is scaling back spending on its self-driving unit, Cruise following an accident involving one of their vehicles last month.

In October, a driverless cab operated by Cruise failed to halt in time... More

Midday movers: Boeing, Micron, Tesla and more

(Updated - November 28, 2023 12:30 PM EST)

Investing.com -- Main U.S. indexes rose after comments from a number of Fed officials reinforced the idea that inflation is slowing and lifted hopes of a potential rate cut next year.

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

Affirm Holdings (NASDAQ: AFRM) stock rose 7.5% with the buy now, pay later company expected to benefit from... More

Rumors that Cybertruck will cost between $50-80k - Wedbush

Wedbush analyst Daniel Ives reiterated an Outperform rating and $310.00 price target on Tesla (NASDAQ: TSLA) after the company scheduled a Cybertruck event for this Thursday to celebrate the first deliveries.

The analyst commented: "This is another historical moment for Tesla and... More

GM to cut spending on Cruise after accident - FT

(Reuters) -General Motors is to scale back spending on its self-driving unit Cruise after a pedestrian accident last month, Financial Times reported on Tuesday.

GM and Cruise did not immediately respond to Reuters' request for a comment.

In October, one of Cruise's driverless cabs was... More

Active options: TSLA NVDA AMZN AAPL AMD MSFT AFRM COIN

Active options: TSLA NVDA AMZN AAPL AMD MSFT AFRM COIN

Tesla (TSLA) option implied volatility into a Cybertruck event at Gigafactory

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 42; compared to its 52-week range of 42 to 97 into a Cybertruck event at Gigafactory Texas on Thursday, November 30, 2023.

General Motors (GM) calls more active than puts into hosting a conference call for financial analysts

General Motors (NYSE: GM) November weekly call option implied volatility is at 44, December is at 36; compared to its 52-week range of 27 to 46 into hosting a conference call and webcast for financial analysts on Wednesday, November 29, 2023, at 8:00 a.m. ET. Call put ratio 2 calls to 1 put.

Tesla beats US claim that it fired factory workers amid union campaign

By Daniel Wiessner

(Reuters) -A U.S. labor board has dismissed claims that Tesla Inc illegally fired employees working on Autopilot software at a New York factory to put an end to union organizing.

A National Labor Relations Board (NLRB) regional official on Friday tossed out a complaint filed in February by Workers United, a union seeking to organize workers at Tesla's Buffalo, New York "gigafactory."

Workers United claimed that within days of announcing a union campaign earlier this year, Tesla fired dozens of workers from its Autopilot department. Tesla has said the firings were... More

Rivian (RIVN) begins leasing R1T pickup trucks in select U.S. states

Michigan-based electric car maker, Rivian Automotive (NASDAQ: RIVN) announced Monday that the EV company has launched leasing for its R1T electric pickup truck for customers in select U.S. states.

The opportunity, accessible in states including California, New York, Florida, and... More

Rivian launches leasing for R1T electric pickup truck in some US states

(Reuters) - Rivian Automotive on Monday announced the launch of leasing for its R1T electric pickup truck for customers in select U.S. states.

The option, which has been made available in states including California, New York, Florida and Texas, comes days ahead of the launch of Tesla's... More

Swedish agency threatened with fines for withholding Tesla (TSLA) license plates

Ongoing efforts by unions in Sweden to pressure Tesla (NASDAQ: TSLA) into signing a collective agreement have developed into a lawsuit filed by the electric automaker accusing two Swedish agencies of refusing to issue license plates.

Over the weekend, Tesla Sweden initiated lawsuits against the country's... More

Britain seeking auto investments from Chinese carmakers

British investment Minister, Dominic Johnson revealed Monday his efforts to attract Chinese car manufacturers to invest in the country. He emphasized the significance of Chinese investment in achieving environmental goals.

During a foreign direct investment summit held at Hampton Court Palace on Monday, British investment minister Dominic Johnson highlighted that commercial negotiations could proceed independently alongside political... More

Ford Motor (F) call put ratio 2 calls to 1 put

Ford Motor (NYSE: F) 30-day option implied volatility is at 27; compared to its 52-week range of 27 to 578. Call put ratio 2 calls to 1 put.

General Motors (GM) option IV into hosting a conference call and webcast for financial analysts

General Motors (NYSE: GM) November weekly call option implied volatility is at 42, December is at 36; compared to its 52-week range of 27 to 46 into hosting a conference call and webcast for financial analysts on Wednesday, November 29, 2023, at 8:00 a.m. ET.

Tesla (TSLA) option IV low into Cybertruck event

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 44; compared to its 52-week range of 42 to 97 into a Cybertruck event at Gigafactory Texas on Thursday, November 30, 2023.

Lancia expands Stellantis (STLA) brand in Europe with Ypsilon EV

Lancia, a subsidiary of FCA Italy, a Stellantis (NYSE: STLA) division, will expand beyond Italy in Freruary when the carmaker launches their third generation Ypsilon.

The small vehicle will start with a limited edition full-electric variant. The limited 1,906 units will lead the brand as the first... More

Tesla (TSLA) exec releases Cybertruck event details

Martin Viecha, the Head of Tesla (NASDAQ: TSLA) Investor Relations (IR), has shared crucial insights regarding the upcoming first delivery event for the Cybertruck.

This event, scheduled to take place at Gigafactory Texas on Thursday, November 30, 2023, will differ from previous Tesla gatherings like the Cyber Rodeo, with the most... More

Active options: TSLA AMZN AAPL AMD PLTR MARA GOOGL MSFT BABA

Active options: TSLA AMZN AAPL AMD PLTR MARA GOOGL MSFT BABA

Tesla (TSLA) sues Swedish Govt over blocked license plates

Business daily Dagens Industri reported Monday morning that electric automaker, Tesla (NASDAQ: TSLA) has filed a lawsuit against the Swedish government's Transport Agency due to a workers' strike impeding the issuance of license plates for its new vehicles, as per a report... More

Here's why $600B+ valuation gap between Tesla and BYD is likely to 'converge' - analyst

Tesla (NASDAQ: TSLA) and BYD (OTC: BYDDF) stand as the two primary electric vehicle (EV) manufacturers, exhibiting similarities in size concerning volumes, revenues, and profit dollars.

At the moment, BYD is experiencing significantly faster according to Bernstein, which prompts the question: How is one worth $750 billion and the other $90 billion?

Bernsteins analysts see Tesla reaching $114 billion in revenues... More

Bernstein: We struggle to bridge the $600B+ valuation gap that exists between Tesla and BYD

Bernstein analyst Toni Sacconaghi reiterated an Underperform rating and $150.00 price target on Tesla (NASDAQ: TSLA).

The analyst commented: "We struggle to bridge the $600B+ valuation gap that exists between Tesla and BYD, and rate TSLA Underperform, and BYD Outperform. We believe... More

Cyber Monday in focus, Musk's Israel visit - what's moving markets

Investing.com -- Retailers are expected to unveil deep Cyber Monday sales in a bid to persuade inflation-squeezed American consumers to open up their wallets ahead of the holidays. Meanwhile, markets will be monitoring shoppers' behavior as they try to parse out the Federal Reserve's future interest rate path. Elsewhere, Elon Musk is due to meet with Israel's president, while U.S. President Joe Biden will reportedly skip the upcoming COP28 climate conference.

1. Futures inch lower

U.S. stock futures pointed lower prior to start off a fresh trading week, as investors attempted to gauge how... More