Midday movers: Netflix gains, ASML spurs rally in chip stocks

J.P. Morgan cuts estimates on Tesla (TSLA), 'plenty of further downside potential'

J.P. Morgan reiterated an Underweight rating on Tesla (NASDAQ: TSLA) and cut their 12-month price target on the auto stock to $130.00 (From $135.00) after the company reported weaker than expected earnings for the sixth straight quarter, and lower YoY profits for the fourth straight quarter, on Wednesday.

Tesla profit expectations have fallen, but... More

Wedbush removes Tesla (TSLA) from 'Best Ideas List'

Equity researcher Wedbush revealed Friday that their analysts have decided to remove electric vehicle maker, Tesla (NASDAQ: TSLA) from their Best Ideas List.

We are removing TSLA from the Wedbush Best Ideas List (BIL) due to our investment price discipline. Wedbush analysts wrote... More

Tesla (TSLA) recalls 199,575 EVs in the U.S.

Electric automaker, Tesla (NASDAQ: TSLA) is recalling nearly 200,000 electric vehicles due to a software glitch that may impede drivers' visibility while driving in reverse, the National Highway Traffic Safety Administration (NHTSA) said on Friday.

The recall covers certain 2023 Y, S and X model vehicles in the U.S., all equipped with "Full Self-Driving" computer 4.0 and run software... More

January supply chain checks favor these chip stocks

Key Bank recently conducted its quarterly supply chain check, providing insights into the current state of various tech markets. The findings present a mixed picture, with both positive and negative trends across different segments.

In the face of a challenging environment, widespread end-demand trends continue to exhibit weakness. The automotive and industrial markets are grappling with inventory destocking, contributing to an overall subdued demand. Key Bank's analysis reveals that the PC market remains stagnant, while Android smartphones are managing to sustain demand. On the flip side, iPhones are encountering... More

UBS raises AMD price target, says stock 'can keep marching higher'

The AMD (NASDAQ: AMD) price target was lifted to $220 per share by UBS analyst Timothy Acruri in a note Thursday, with the analyst saying that the company's tactical setup around earnings is complicated due to the recent rally.

In the earnings preview note, the analyst stated AMD's... More

Tesla (TSLA) facing 'very limited growth', will require 'major price cuts' in 2024

Deutsche Bank (DB) reiterated a Buy rating on Tesla (NASDAQ: TSLA) but cut their 12-month price target on the electric automaker over heightened concerns around 2024.

Teslas very limited outlook commentary last night, in our view confirmed our caution around 2024, in which the company will likely see very limited volume growth and pressure on earnings. Wrote DB... More

Tesla (TSLA) slumps 10% following Musk sales warning

Shares of electric automaker, Tesla (NASDAQ: TSLA) fell more than 10% on Thursday following CEO Elon Musk's caution about a slowdown in sales growth this year.

This comes despite previous price cuts that have impacted profit margins and raised concerns among investors in the... More

Musk warns Chinese EV brands will 'demolish' global rivals without trade barriers

Tesla's CEO Elon Musk issued a warning on Wednesday, suggesting that Chinese automakers would destroy global competitors if trade barriers are eliminated.

Musks assertion underscores the mounting pressure faced by Tesla, the leading player in the U.S. electric vehicle market, from formidable competitors like BYD, a company backed by Warren Buffett, which clinched the title of the world's top-selling EV company last quarter.

Despite Tesla's aggressive price cuts extending... More

Netflix (NFLX) PT Raised to $555 at Citi

Citi analyst Jason Bazinet raised the price target on Netflix (NASDAQ: NFLX) to $555.00 (from $500.00) while maintaining a Neutral rating.

The analyst comments "Netflix reported 4Q23 revenue, operating income, and net additions above consensus. Along with the print, management guided 1Q24 revenue of $9.24 billion,... More

Lam Research (LRCX) PT Raised to $912 at Goldman Sachs, 'Potential for Material Outperformance in CY2024'

Goldman Sachs analyst Toshiya Hari raised the price target on Lam Research (NASDAQ: LRCX) to $912.00 (from $700.00) while maintaining a Buy rating.

The analyst comments "Lam Research executed well in the quarter as FY2Q (Dec) revenue, operating margin, and EPS all exceeded Street... More

Evercore ISI on TE Connectivity (TEL), 'Removing from Tactical OP List'

Evercore ISI analyst Amit Daryanani reiterated an Outperform rating and $160.00 price target on TE Connectivity (NYSE: TEL)

The analyst comments "We are removing TEL from our Tactical Outperform list following strong Dec-qtr earnings with the stock up 7%. TEL reported Dec qtr results that were ahead of street expectations on EPS despite in-line revenues with a print of $3.83B/$1.84 (vs. street at $3.87B/$1.71), with upside on margins in the Transportation... More

Ford (F) recalls over 2M Explorer SUVs worldwide

Detroit automaker, Ford (NYSE: F) announced Wednesday that the company is recalling 2.24 million Ford Explorer SUVs worldwide made between 2011-2019 due to potential issues with trim retention clips not being properly engaged.

The recall includes 1.89 million SUVs in the United States, spanning model years 2011 through 2019. The National Highway Traffic Safety Administration (NHTSA) revealed that the trim on these vehicles could detach, prompting the safety recall.

Ford has... More

Redburn starts Tesla (TSLA) and Ford (F) at Sell

Redburn Atlantic has initiated coverage on Ford Motor (NYSE: F) and Tesla (NASDAQ: TSLA) with Sell ratings. For Ford, Redburn set a 12-month price target of $10.00, citing a review of the automaker's cost structure, which indicates minimal improvement until a more robust electric vehicle (EV) platform is developed.

We expect the group [Ford] to underperform its peers in this regard over the next two years, wrote Redburn analysts in a note.

It's worth noting that in Q4... More

Tesla (TSLA) plans affordable mass-market EV in mid-2025

Tesla (NASDAQ: TSLA) has informed its suppliers of plans to commence production of a new mass-market electric vehicle, codenamed "Redwood," by mid-2025, as reported by Reuters on Wednesday, citing four individuals familiar with the matter, with two sources describing the model as a compact crossover. Top of Form

Tesla CEO,... More