Midday movers: Nvidia, Affirm Holdings, and more

RBC Capital Cuts Tesla (TSLA) Delivery Numbers, 'Big Push into Quarter End Creates Uncertainty'

RBC Capital analyst Tom Narayan reiterated an Outperform rating and $300.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "We estimate Tesla deliveries of 456k in Q4/23, down 4.2% vs our prior estimate of 476k and 1.1% below consensus, based on registration data and... More

Tesla (TSLA) battery bottleneck hinders Cybertruck deliveries

Last month, Tesla (NASDAQ: TSLA) introduced its groundbreaking stainless steel-plated electric Cybertruck. CEO Elon Musk estimated that the company was likely to achieve an annual production rate of a quarter-million vehicles at some point in 2025.

However, Tesla is currently far from reaching this production pace, facing significant bottlenecks, particularly in the production speed of the... More

Tesla (TSLA) facing inquiry by Norwegian officials over suspension defect

An exclusive story by Reuters reports Thursday that Tesla (NASDAQ: TSLA) is facing an inquiry by the Norwegian Public Roads Administration (NPRA) concerning suspension failures in the company's electric vehicles.

According to the report, the NPRA began questioning the EV giant in September 2022 and asked the automaker to evaluate complaints about their vehicles lower rear control arms breaking on its Model S and X vehicles.

NPRA senior engineer, Tor-Ove Satren told reporters that the Norwegian traffic... More

U.S. considers raising tariffs on China EVs

The Wall Street Journal reports Wednesday that, citing unnamed sources familiar with the matter, that the United States is in discussions and may choose to increase tariffs on some Chinese goods, including electric vehicles (EVs).

In recent years, the growth of China's vehicle exports has been driven by excess production capacity and a decline in domestic demand within the world's largest automotive market. Projections from China Merchants Bank International suggest a 25% increase next year, reaching... More

Morgan Stanley names its Top Aerospace Pick for 2024

Morgan Stanley describes the COVID-19 lockdowns as the worst exogenous shock in the history of aviation. However, as the Aerospace sector recovers in 2023, global air traffic is back to ~98% of pre-COVID-19 levels.

That being said, total aircraft deliveries from OEMs, such as Boeing (NYSE: BA) and Airbus, are only expected to be ~77% of 2018 levels.

Our view is that Aerospace is an Attractive sector in 2024, but we are more selective on stocks due to valuation, capital return potential, and execution risks. Our top Aerospace pick is OW-Howmet (HWM), Morgan Stanley analysts wrote in a... More

Exec confirms Tesla (TSLA) Semi fleet has reached 100 units

Tesla (NASDAQ: TSLA) VP of Vehicle Engineering, Lars Moravy was recently featured on an episode of Jay Lenos Garage, alongside Design Chief Franz von Holzhausen.

The focus of the episode was on Leno's personal Cybertruck. Throughout the episode, Moravy, von Holzhausen, and Leno talked about a variety of topics, from the Cybertrucks features to its performance on and off the road.

Eventually, the three automotive... More

Apple (AAPL) market cap to hit $4 trillion by end of 2024 claims Wedbush analyst

Apple (NASDAQ: AAPL) will be the first $4 trillion market cap company by the end of 2024. That's according to Wedbush analyst Daniel Ives, who made the claim in a note to clients Wednesday.

Wedbush's view is based on the pace of growth and monetization the firm estimates for Apple over the... More

Affirm Holdings (AFRM) price target more than doubled at Mizuho - here's why

The Affirm Holdings (NASDAQ: AFRM) price target was more than doubled to $65 from $30 per share by Mizuho analyst Dan Dolev on Wednesday, with the firm maintaining a Buy rating on the stock.

Doev told investors in a note that they believe the... More

Tesla (TSLA) urges US agency to pause racial bias lawsuit

Tesla (NASDAQ: TSLA) has requested a U.S. judge to temporarily halt a federal agency's legal action alleging severe harassment of Black employees at its California assembly plant. The company argues that two comparable cases should be resolved before proceeding.

In a filing submitted to the San Francisco federal court on Monday, Tesla stated that the U.S. Equal Employment Opportunity Commission (EEOC) hurriedly initiated the... More

Tesla (TSLA) China sees 18% increase in new vehicle registrations

According to industry watchers. Tesla (NASDAQ: TSLA) China saw over 18,000 new vehicle insurance registrations last week. The impressive 18.83% increase over the previous weeks total suggests that the electric automaker may be focusing more recourses on the regions domestic market.

It should be noted... More

Cevian sees 'significant value potential' in UBS, acquires €1.2bn stake

Cevian Capital announced a EUR 1.2 billion investment in UBS AG (NYSE: UBS) on Tuesday, stating it sees "significant value potential" in the bank.

The activist investment firm is betting on UBS's bid to narrow the gap between it and the world's pre-eminent wealth management company, Morgan... More

Carmakers to cover EV subsidies after Germany cuts funding

Following the termination of the German state-funded scheme for electric vehicle (EV) buyers, automotive giants Audi, Mercedes-Benz, Stellantis (NYSE: STLA), and the Volkswagen have stepped up to start their own subsidy programs.

Despite their efforts to support EV purchasers, these manufacturer-backed incentives are set to conclude well before the previously intended end date of the state scheme, which was scheduled to run... More

Boeing (BA) 737 program to generate $28bn in revenue in 2024 following Lufthansa order, says Jefferies

On Tuesday, it was announced that Deutsche Lufthansa (OTC: DLAKY) will buy up to 100 737 MAX jets, representing its first Boeing (NYSE: BA) single-aisle order in nearly 30 years.

Lufthansa ordered 40 737 MAX-8s (plus 60 options) and 40 A220-300s (plus 20 options). "It is a good strategic decision for... More

Tesla (TSLA) to raise hourly pay for some workers at NV Gigafactory

Electric automaker, Tesla Inc (NASDAQ: TSLA) announced Monday that the company would be raising the hourly pay of some workers at its gigafactory in Nevada by around 10% starting in early January.

The electric vehicle manufacturer is set to increase the hourly wages for its employees, raising the lower end from $20 to $22 per hour and the higher end... More