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Tesla (TSLA) trades down following price cuts in China

Shares of Tesla (NASDAQ: TSLA) are down more than 3% in pre-market trading Friday morning after the electric automaker officially reduced the price of their Model 3 and Model Y in China, with cuts ranging from Rmb6.5k to Rmb15.5k.

According to channel checks conducted by Morgan Stanley, the reduction was more moderate than what the... More

Jefferies names their top EV picks in China

Jefferies expects the sale of Chinese New Energy Vehicles (NEVs) will grow 30% YoY in 2024 as affordability improves and supply continues to be strong, driving NEV penetration up to c.44%.

Jefferies released their Top Picks in the Chinese EV segment, favoring OEMs with product lineups in blue ocean markets, advanced development in smart driving, and initiatives in overseas expansion.

Jefferies likes Changan and SERES from the Huawei partnerships. For OEMs outside Huaweis ecosystem, Jefferies chose BYD, XPeng (NYSE: XPEV), and Li auto (NASDAQ:... More

Shares fall as Tesla (TSLA) announces increased pay for U.S. workers

Shares of electric vehicle giant, Tesla (NASDAQ: TSLA) are trending down more than 1.5% in pre-market trading Thursday morning after it was announced that the company notified workers at its California car plant of pay increases across its US factories.

This announcement marks the latest bump by a nonunion automaker as the United Autoworkers Union (UAW) works to increase membership in the U.S.

Tesla's facility in Fremont, California, has announced a "market adjustment pay... More

Approval of Bitcoin ETFs not seen as a boon for Coinbase (COIN)

Coinbase (NASDAQ: COIN) is the custodian for 8 of the 11 spot ETFs approved by the SEC on Wednesday, still, some analysts are questioning if the approval will help the company.

Mizuho analyst Dan Dolev doesn't see the approvals as good news for... More

Duke Energy (DUK) entered 2024 'from a position of strength' - RBC Capital

Duke Energy (NYSE: DUK) was lifted to Outperform from Sector Perform at RBC Capital on Wednesday, with analyst Shelby Tucker raising the firm's price target on the stock to $113 from $101 per share.

Tucker told investors that Duke Energy has entered 2024 from a position of... More

Data shows VW, Toyota lose market share in 2023

In the latest industry data out of China revealed on Wednesday, Volkswagen and Toyota Motor (NYSE: TM)) witnessed a decline in their share of the world's largest auto market. This decrease occurred as established global carmakers yielded ground to their Chinese counterparts.

Specifically, VW's two joint ventures in China with FAW and SAIC collectively held a 14.2% share in sales for the year 2023. This figure marks a decrease from their... More