Musk tempers expectations ahead of Tesla (TSLA) Cybertruck event

Who should buy Renault?

Purchasing Renault at its 10 billion market cap would essentially pay for itself. With the company boasting 7 billion in net cash and a Nissan stake valued at 6.6 billion, these assets alone exceed what any potential buyer would require to justify the current market price.

Comparatively, both Stellantis (NYSE: STLA) and Volkswagen hold reserves far exceeding the value of Renault on their balance sheets. In fact, Renault itself possesses enough financial power to buy itself and transition into a private entity. This situation highlights two critical concerns: firstly, the underestimation of long-term risks in the automotive... More

Tesla (TSLA) China sales fall nearly 18% in November

Sales of Teslas (NASDAQ: TSLA) Chinese made electric vehicles dropped by 17.8% in November compared to the previous year, reaching 82,432 cars, according to data from the China Passenger Car Association (CPCA) released on Monday.

This decline represents the most significant drop since December 2022, when Tesla experienced a 21% decrease following a reduced output and slashed pricing in response to an increase in inventory and a decrease in consumer demand.

However, deliveries of China-manufactured Model 3 and Model Y... More

Mizuho upgrades GM to Buy following cost cuts and a production reset

Mizuho upgraded General Motors (NYSE: GM) to a Buy rating (From Neutral) and raised their 12-month price target on the stock to $42.00 (From $38.00) as sentiment on the Detroit automaker is at a low point given a weak consumer, 25% UAW wage hikes, Cruise and EV... More

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

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

Active options: TSLA NVDA META PLTR PLUG PFE NIO PDD OKTA

Active options: TSLA NVDA META PLTR PLUG PFE NIO PDD OKTA

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

GM Defense Awarded U.S. Department of State Contract for Next Generation Armored Heavy-Duty Sport Utility Vehicles (GM)

The U.S. Department of State has awarded GM Defense LLC, a subsidiary of General Motors (GM), a 10-year Indefinite Delivery Indefinite Quantity (IDIQ) full-rate production contract to deliver the next generation Heavy-Duty armored Sport Utility Vehicle (HD SUV) in support of the Department's Diplomatic Security Service. GM Defense will deliver Original Equipment Manufacturer integrated HD SUVs under the contract with a ceiling value of $300 million. GM Defense was awarded an initial task order through the IDIQ contract for vehicles, training and... More

Midday movers: Snowflake, Salesforce, and more

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

Investing.com -- Main U.S. indexes were mixed on Thursday after inflation and jobs data didnt change investors' opinion on the timing of Fed rate cuts. The Dow Jones Industrial Average climbed 0.8%, with gains led by Salesforce. Nasdaq slumped 0.7%, and the S&P 500 was down 0.1%.

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

Snowflake (NYSE: SNOW) stock rose 5% after the data warehousing company impressed with its... More

General Motors (GM) PT Raised to $27 at Wells Fargo

Wells Fargo analyst Colin M. Langan raised the price target on General Motors (NYSE: GM) to $27.00 (from $25.00) while maintaining a Underweight rating.... More

General Motors (GM) PT Lowered to $40 at Wedbush

Wedbush analyst Daniel Ives lowered the price target on General Motors (NYSE: GM) to $40.00 (from $46.00) while maintaining a Outperform rating.... More

General Motors (GM) PT Raised to $56 at JPMorgan

JPMorgan analyst Ryan Brinkman raised the price target on General Motors (NYSE: GM) to $56.00 (from $54.00) while maintaining a Overweight rating.... More

Starting at $60,990, Tesla's Cybertruck is priced 50% higher than initial estimate

By Akash Sriram, Hyunjoo Jin and Abhirup Roy

(Reuters) -Tesla's long-delayed Cybertruck will be priced starting at $60,990, over 50% more than what CEO Elon Musk had touted in 2019 and a cost analysts have said will draw select, affluent buyers.

The truck, made of shiny stainless steel and shaped into flat planes, is partly inspired by a car-turned-submarine in the 1977 James Bond movie "The Spy Who Loved Me," Musk has said.

Its new body material and unconventional, futuristic styling has added complexity and costs to production, and threatens to alienate traditional pickup truck buyers who focus on utility, experts... 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

Active options: GM BABA BAC COIN PLTR F RIVN INTC SOFI AFRM PYPL

Active options: GM BABA BAC COIN PLTR F RIVN INTC SOFI AFRM PYPL

Active options: TSLA NVDA GME AAPL MSFT AMZN AMD META AMC

Active options: TSLA NVDA GME AAPL MSFT AMZN AMD META AMC

General Motors (GM) PT Raised to $44 at DZ Bank

DZ Bank analyst Matthias Volkert raised the price target on General Motors (NYSE: GM) to $44.00 (from $43.00) while maintaining a Buy rating.... More

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

The United Auto Workers (UAW) union announced Wednesday their plan to unionize electric vehicle maker, Tesla (NASDAQ: TSLA) as well as the entirety of the nonunion auto industry in the United States.

This move follows the unions successful negotiation of new contracts with the Detroit Three automakers.

UAW revealed that employees from 13 nonunion automakers have launched coordinated campaigns nationwide to join the union.

These efforts encompass companies such as Tesla, Toyota (NYSE:... 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

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

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

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

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.