Midday movers: Tesla and Humana shares slump, IBM surges

Jefferies cuts estimates on Tesla (TSLA), says EV maker lacks 'vision or plan'

Jefferies reiterated a Hold rating on Tesla (NASDAQ: TSLA) and cut their 12-month price target on the automakers stock to $185.00 (From: $225.00) following the companys 4Q earnings release.

Teslas 4Q results were as expected, with lower COGS. While slower growth was predicted, avoiding a set volume target could help bring back dynamic... More

Tesla (TSLA) sees FY Capex reaching above $10B in 2024

Tesla (NASDAQ: TSLA) unveiled an ambitious capital expenditure plan, anticipating expenditures exceeding $10 billion for 2024, with projections to allocate between $8.00 and $10.00 billion in each of the following two fiscal years.

Bolstered by a strong financial standing, the company reported $16.40 billion in cash and $12.70 billion in... More

Citi Upgrades American Airlines (AAL) to Buy

Citi analyst Stephen Trent upgraded American Airlines (NASDAQ: AAL) from Neutral to Buy with a price target of $20.00 (from $14.00).

The analyst comments "North Americas network carriers diversified revenue streams and solid demand for premium cabin offerings appear to provide them with superior positioning in... More

Evercore ISI on Apple (AAPL) AppStore Impact: 'We think the aggregate impact of all of this is sub 1% to top/bottom line', 'Sticking with OP and $220 target'

Evercore ISI analyst Amit Daryanani reiterated an Outperform rating and $220.00 price target on Apple (NASDAQ: AAPL).

The analyst comments "ALL YOU NEED TO KNOW: There has been a TON of questions on understanding the various parts of what is happening with... More

Apple: Analysts quantify the impact of new App Store regulation on finances

Apple (NASDAQ: AAPL) revealed yesterday modifications to iOS, Safari, and the App Store in response to the Digital Markets Act (DMA) in the European Union (EU).

To comply with the DMA, Apple is implementing over 600 new APIs, enhancing app analytics, providing functionality for alternative browser engines, and offering options for processing app payments and distributing iOS apps.

These changes are designed to... More

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

JPMorgan Downgrades Dow Inc. (DOW) to Neutral on Valuation

JPMorgan analyst Jeffrey Zekauskas downgraded Dow Inc. (NYSE: DOW) from Overweight to Neutral with a price target of $55.00.

The analyst comments "Dow fired on just one of its three business cylinders in 4Q:23. Operating income in the Industrial Intermediates Segment was $15m, Performance Materials and Coatings lost ($60m) and Packaging and Specialty Plastics earned $664m. The annual numbers in 2023 were little different: Specialty Plastics delivered $2.7b in EBIT and the other two... More

JPMorgan Comments on Apple (AAPL) Changes to EU Services Monetization

JPMorgan analyst William Yang reiterated an Overweight rating on Apple (NASDAQ: AAPL).

The analyst comments "Apple will enable alternative app stores for consumers to download apps, and the ability to use alternative payment systems starting March of this year. Apple is charging a lower commission rate in the range of 10% to 17% (vs. prior rates of 15% to 30%) for apps sold through the... 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

Deutsche Bank Downgrades Humana (HUM) to Hold

Deutsche Bank analyst George Hill downgraded Humana (NYSE: HUM) from Buy to Hold with a price target of $360.00 (from $595.00).

The analyst comments "Downgrade to Hold - Is MA Broken or Just HUM? With the revised outlook, HUM shares now seem expensive both on 2024... 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