Midday movers: Tesla, Coinbase, and more

Deutsche Bank expecting softer auto sales in December

December 29, 2023 10:31 AM EST

Deutsche Bank released their sales preview for the month of December, with analysts suggesting the US light vehicle SAAR may come close to the 15.3-million-unit mark. This projection reflects a slight decrease from November's 15.5 million but significantly surpasses December 2022's figure of 13.6 million. They estimate a YoY increase of approximately 7% in total sales, with retail unit sales rising by 6% and fleet sales experiencing a 15% increase compared to the previous year.

As the sales recovery continues, truck sales have shown a slight YoY increase, reaching... More

China’s Xiaomi unveils first EV

December 28, 2023 10:09 AM EST

Chinese smartphone maker Xiaomi unveiled its first electric vehicle (EV) on Thursday, while also announcing the companys ambitious goal of becoming one of the worlds top five automakers.

The upcoming sedan, named SU7 (with SU standing for Speed Ultra), is generating a lot of excitement. Chief Executive Lei Jun has highlighted its "super electric motor" technology, boasting acceleration speeds faster than those of Tesla (NASDAQ: TSLA)... More

Marathon Digital (MARA) Pares Recent Gain, Down 2% Pre-Open

December 28, 2023 7:23 AM EST

Marathon Digital (NASDAQ: MARA) Pares Recent Gain, Down 2% Pre-Open

Shares are lower by 2% on strong pre-market volume.The stock surged 15% yesterday amid interest in Bitcoin-related names.Related stocks including Coinbase (NASDAQ: COIN), Riot Platforms (NASDAQ: RIOT) and Microstrategy, Inc. (NASDAQ: MSTR) are mixed.Bitcoin lower by 0.7% at $43,000.... More

Cytokinetics (CYTK) PT Raised to $86 at Truist, 'recent data further support CYTK as an attractive M&A target'

December 27, 2023 1:43 PM EST

Truist Securities analyst Srikripa Devarakonda raised the price target on Cytokinetics (NASDAQ: CYTK) to $86.00 (from $60.00) while maintaining a Buy rating.

The analyst comments "Following mgmt conference call on Ph3 SEQUOIA-HCM data and speaking with mgmt postconference call, our conviction around best-in-class potential for... More

Cytokinetics (CYTK) PT Raised to $107 at Oppenheimer, 'We Stay Bullish'

December 27, 2023 1:42 PM EST

Oppenheimer analyst Justin Kim raised the price target on Cytokinetics (NASDAQ: CYTK) to $107.00 (from $54.00) while maintaining a Outperform rating.

The analyst comments "Aficamten appears on course toward a best-in-class trajectory in the treatment of oHCM following Phase 3 SEQUOIA results. With the call offering... More

Masimo Corp. (MASI) shares fall as appeals court pauses Apple (AAPL) smartwatch ban

December 27, 2023 1:13 PM EST

Masimo Corp. (NASDAQ: MASI) shares fell Wednesday after it emerged that a U.S. appeals court halted a government commission's import ban on some of tech giant Apple's (NASDAQ: AAPL) smartwatches.

The initial import ban... More

Toyota (TM) achieved record sales in November

December 27, 2023 10:11 AM EST

Japanese auto giant, Toyota Motors (NYSE: TM) reported a 12% increase in global sales last month compared to the previous year, totaling 986,262 units and marking the highest November sales report in the companys 86 year history.

In addition to its remarkable sales figures, Toyota achieved a significant milestone in global... More

Tesla (TSLA) preparing Shanghai gigafactory for revamped Model Y

December 27, 2023 9:35 AM EST

Tesla Inc. (NASDAQ: TSLA) is gearing up to introduce an updated version of its highly successful Model Y from its Shanghai plant according to unnamed sources familiar with the matter. This move comes in response to heightened competition from domestic rivals, prompting an... More

Wedbush reiterates Outperform ahead of Tesla's (TSLA) 4Q delivery report

December 27, 2023 8:52 AM EST

Wedbush reiterated an Outperform rating and 12-month price target of $350.00 on Tesla (NASDAQ: TSLA) ahead of the companys 4Q delivery report.

In the final week of December, Wedbush analysts believe the electric automaker is tracking slightly ahead of the 480k delivery mark.

Global Tesla prices have recently stabilized, with increases observed in various regions, notably China.... More