U.S. regulators upgrade Tesla (TSLA) power steering probe

Bernstein 'struggles' to see a catalyst for Tesla (TSLA) stock

Bernstein remains Bearish on Tesla (NASDAQ: TSLA) with an Underperform rating and a 12-month price target on the electric automaker of $150.00 as analysts struggle to see a catalyst for the company.

2023 marked a period of robust yet decelerating growth for the electric vehicle (EV) market globally, with sales of battery electric vehicles (BEVs) experiencing a 35% increase from 6.3 million to 8.2 million units. This growth, however, was notably slower compared to the impressive 65% expansion witnessed in... More

Daiwa downgrades Tesla (TSLA) over increased governance concerns

Daiwa Capital Markets downgraded Tesla (NASDAQ: TSLA) to a Neutral rating (From Outperform) and cut their 12-month price target by $50.00 to $195.00 as the firm sees corporate governance concerns aggravating already tough financial conditions in 2024.

Concerns about how Tesla is governed increased after a Delaware judge's ruling questioned the independence of Tesla's Board, leading to the cancellation of CEO Elon Musk's compensation. The Wall Street Journal's... More

Tesla (TSLA) sinks as SAP moves away from EV giant

Tesla's (NASDAQ: TSLA) stock dropped nearly 6% on Monday following reports that German software firm SAP would stop buying electric cars from the company.

Tesla's shares fell to $177.27, the lowest since May 2023, and has traded down 28% this year. The decline accelerated after Tesla projected "notably lower" delivery growth in... More

Global BEV sales reach a new high

Bank of America tracked electric vehicle sales for December and FY 2023 finding in December 2023 that global Battery Electric Vehicle (BEV) sales achieved a record high of 1.1 million units, marking a 19% YoY increase and pushing the penetration rate beyond 14% for the first time.

China experienced a resurgence in BEV sales, rising by 38% YoY in December and 32% in the 4Q. Meanwhile, the EU saw a 20% decline in December due to the phasing out of subsidies the previous... More

Activist investors target change at Tesla (TSLA) following Elon Musk pay ruling

In a recent development, activist investors targeting Tesla's (NASDAQ: TSLA) board for allegedly failing to curb CEO Elon Musk's influence believe a recent court ruling on Musk's $56 billion stock compensation may be the catalyst they need for meaningful reforms.

The pivotal moment arrived with a Delaware judge voiding Musk's record-breaking compensation, signaling... More

Tesla (TSLA) recalls nearly 2.2M EV's in US

Electric vehicle giant, Tesla Inc. (NASDAQ: TSLA) is recalling nearly 2.2 million EVs in the U.S. due to the size of the font on the vehicles warning lights.

According to the NHTSA release, Tesla's chosen font size for the affected vehicles fails... More

Midday movers: Meta Platforms and Amazon surge

(Updated - February 2, 2024 11:29 AM EST)

Investing.com -- Main U.S. indexes were mixed Friday as investors balanced earnings from mega-cap tech companies, including strong reports from Amazon and Meta, against positive employment data and reduced chances the Fed will begin cutting rates in March or May. The Nasdaq and S&P 500 moved higher but the Dow declined.

Here are some of the biggest U.S. stock movers today:

Meta Platforms (NASDAQ: META) stock soared 20% after the Facebook owner posted a tripling of profit from... More

US agency upgrades probe into Tesla's power steering loss into engineering analysis

SAN FRANCISCO (Reuters) - U.S. safety regulators said they have upgraded their probe into Tesla vehicles over power steering loss to an engineering analysis - a required step before they could potentially demand a recall.

The National Highway Traffic Safety Administration (NHTSA)said on Thursday that an estimated 334,569... More

CPCA: Tesla (TSLA) Sold 71,447 China-made EVs in January 2024

CPCA: Tesla (NASDAQ: TSLA) Sold 71,447 China-made EVs in January 2024

U.S. safety agency deepens probe of Tesla power steering loss

By David Shepardson and Hyunjoo Jin

WASHINGTON/SAN FRANCISCO (Reuters) -U.S. safety regulators on Friday upgraded their probe into Tesla vehicles over power steering loss to the status of an engineering analysis - a required step before the agency could demand a recall.

Tesla shares, which dropped more than 25% in January alone, fell more than 3% on Friday.

The National Highway Traffic Safety Administration (NHTSA) said the investigation covered about 334,000 Model 3 and Model Y vehicles from the 2023 model year.

The agency's upgraded probe follows a Reuters investigation that found tens of thousands of owners had experienced... More

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Tesla China (TSLA) offers cash discounts on select Model Y EVs

Tesla (NASDAQ: TSLA) China moves to attract more customers by offering cash discounts and introducing cutting-edge hardware upgrades for its popular Model Y vehicles.

The company announced a cash discount of 8,000 yuan ($1,114) for specific types of Model Y vehicles, starting from Thursday,... More

Midday movers: Ferrari races higher, Qualcomm sputters, and more

(Updated - February 1, 2024 12:02 PM EST)

Investing.com -- U.S. futures rose Thursday as investors digested news from the latest Federal Reserve policy-setting meeting ahead of the release of more earnings from mega-cap tech companies.

Here are some of the biggest U.S. stock movers today:

Qualcomm (NASDAQ: QCOM) stock fell 4.1% despite the chipmaker reporting better-than-expected first-quarter results as a recovery in smartphone demand boosted handset chip sales, with investors wary of signs of weakness in the key Chinese market.

Royal Caribbean (NYSE:... More

Tesla’s (TSLA) Elon Musk seeks shareholder vote to incorporate in Texas

In a late Wednesday announcement, Tesla CEO Elon Musk revealed plans to conduct a shareholder vote to decide whether to shift its state of incorporation to Texas.

Musk conducted an informal poll on X (formerly Twitter), where over 80% of respondents favored the move. Following this, Musk expressed the... More

Powell's rate comments, tech giants to report - what's moving markets

Investing.com -- Federal Reserve Chair Jerome Powell tempers expectations that the central bank will soon begin to slash interest rates, as he seeks further evidence that inflation in the U.S. is continuing to cool. The Fed also holds borrowing costs at 23-year highs after its latest policy meeting, but ditches prior language flagging the potential of additional hikes. U.S. stocks slip after the gathering, while investors gear up for a fresh batch of earnings from tech giants, Apple (NASDAQ: AAPL), Amazon.com (NASDAQ: AMZN), and Meta... More

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Musk seeks Tesla shareholder vote on moving incorporation to Texas

By Shubham Kalia, Maria Ponnezhath and Samrhitha A

(Reuters) -Tesla CEO Elon Musk said on Thursday the company will hold a shareholder vote to transfer its state of incorporation to Texas from Delaware, after a judge invalidated his $56 billion pay package at the electric vehicle (EV) maker.

Delaware judge Kathaleen McCormick had on Tuesday called the 2018 share-based pay package - the largest in corporate America - "an unfathomable sum" that was unfair to shareholders and found it was negotiated by directors who appeared beholden to Musk.

"Never incorporate your company in the state of Delaware,"... More

Tesla China offers cash discounts for some Model Y types

BEIJING (Reuters) - Tesla China is offering 8,000 yuan ($1,114) of cash discounts from Thursday for some types of Model Y vehicles, it said on its official social media account.

Tesla has also upgraded the Model Y in China with Hardware 4.0, its latest generation of hardware capable of powering its Full... More

Tesla (TSLA) continues to fall in pre-market after judge rejects CEO Musk's $56B compensation package

Shares of Tesla (NASDAQ: TSLA) are trending down almost 3% in pre-market trading Wednesday morning as the market continues to process the news out of Delaware where a judge ruled to void Elon Musk's $56B pay package.

A Delaware judge supported investor plaintiffs who... More

Midday movers: Boeing flies, Alphabet flops, and more

(Updated - January 31, 2024 11:29 AM EST)

Investing.com -- U.S. futures traded lower Wednesday as investors digested earnings from some tech giants ahead of the conclusion of the latest Federal Reserve policy-setting meeting.

Here are some of the biggest U.S. stock movers today:

Alphabet (NASDAQ: GOOGL) stock slumped 6.4% after the Google-parent reported holiday-season advertising sales below expectations and projected higher spending this year on artificial intelligence.

Microsoft (NASDAQ: MSFT) stock fell 1% after the software giant forecast rising costs to develop new... More

Fed decision ahead; Microsoft, Alphabet's AI costs - what's moving markets

Investing.com -- U.S. stock futures are mixed as investors await a major Federal Reserve interest rate decision and potential commentary on future borrowing costs from the central bank. Microsoft (NASDAQ: MSFT) and Google-owner Alphabet (NASDAQ: GOOGL) warn that spending on developing their artificial intelligence capabilities will be higher this year, offsetting a strong set of quarterly earnings from the tech giants. Elsewhere, Elon Musk's massive Tesla (NASDAQ: TSLA) pay package worth nearly $56 billion is voided by a Delaware... More

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