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What happened to Tesla? Weak sales, layoffs and recalls weigh on outlook.: The company is facing its greatest set of challenges since a series of unforced errors ...
washingtonpost.com/technology/2024/04/23/elon-musk-tesla-earnings-outlook/
GM shared our driving data with insurers without consent, lawsuit claims: Motorists file class action alleging breach of contract and more after their premiums ...
theregister.com/2024/04/23/gm_insurance_class_action/
JPMorgan CEO Jamie Dimon Says NYC Must Fight to Compete With Cities Worldwide: New York City is “obviously the financial center of the world,” but needs to stay ...
bloomberg.com/news/articles/2024-04-23/new-york-must-fight-to-compete-with-cities-worldwide-dimon-says
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Boeing (BA) Still Has Wall Street Boosters Amid Cascade of Setbacks: For a company that has been in crisis mode for as long as Boeing Co., the planemaker has ...
bloomberg.com/news/articles/2024-04-23/boeing-ba-still-has-wall-street-boosters-amid-cascade-of-setbacks
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Caitlin Clark set to sign new 8-year deal with Nike, reports say - ESPN: Caitlin Clark will reportedly continue her association with Nike by signing a $28 ...
espn.com/wnba/story/_/id/40008254/caitlin-clark-set-sign-new-8-year-deal-nike-reports-say
Quick Glance: Historic Shoe Contract: Nike pays Caitlin Clark $28 million
- Caitlin Clark's shoe deal could be worth $28 million.
- Clark set record TV ratings for women's college hoops.
- The negotiations peaked at the NBA All-Star weekend.
- Nike surpasses other brands' offers and plans long-term with Clark.
Tesla cuts its car prices around the world after week of turmoil for the company: The company dropped its starting prices of its Model X, Model Y and Model S by ...
npr.org/2024/04/21/1246256484/tesla-car-price-cuts-elon-musk-cybertruck
Google fires more workers who protested its deal with Israel: An activist group says Google fired at least 20 more workers in the aftermath of protests over ...
apnews.com/article/google-israel-protest-workers-gaza-palestinians-96d2871f1340cb84c953118b7ef88b3f
Quick Glance: Google Fires More Employees Following Israel Deal Protests
- An activist group has reported that Google has terminated at least 20 more employees in response to protests over the technology supplied to the Israeli government amid the Gaza conflict, bringing the total number of dismissed employees to over 50.
- This serves as another indication of internal unrest at the tech giant, revolving around 'Project Nimbus,' a $1.2 billion contract signed in 2021 for Google and Amazon to provide cloud computing and AI services to the Israeli government.
- Last week, demonstrations were held by employees at Google offices in New York and Sunnyvale, California, resulting in the company contacting law enforcement, leading to subsequent arrests.
- According to Google, the additional terminations were carried out after an investigation gathered information from colleagues who were 'physically disrupted,' and employees were identified who wore masks and did not carry their ID badges to conceal their identities. The company refuted the group's allegations, asserting that it meticulously verified that 'each individual whose employment was terminated was personally and conclusively involved in disruptive activities within our premises.'
Stock Market's ‘Humbling’ Cycle Forces Morgan Stanley's Wilson to Stay Nimble
bloomberg.com/news/newsletters/2024-04-23/stock-market-s-humbling-cycle-forces-morgan-stanley-s-wilson-to-stay-nimble
Lockheed Crushes Sales and Earnings Estimates. Growth Is Solid.: Lockheed Martin’s first-quarter earnings of $6.39 a share top Wall Street forecasts of $5.78.
on.barrons.com/4aYOtco
Bubble Tea IPO Drains Dregs of Optimism From Hong Kong: Hi, it’s Pei Li in Hong Kong, where a Chinese bubble tea maker just made its much-anticipated trading ...
bloomberg.com/news/newsletters/2024-04-23/bubble-tea-ipo-drains-dregs-of-optimism-from-hong-kong
Paid articlePaid Is Elon Musk's robotaxi dream plunging Tesla into chaos and jeopardizing its vision of a cheap EV?
@EdLudlow reports www.bloomberg.com/news/features/2024-04-21/tesla-tsla-cybertruck-recall-is-latest-setback-to-stock-s-rough-2024
Quick Glance: Tesla Cybertruck Recall and Stock Decline 2024
- Elon Musk's underlings at Tesla Inc. are accustomed to chaos, but this year has been particularly turbulent. The stock price has plummeted, there has been confusion around product decisions and price cuts. Tesla's position in the Chinese EV market is under threat, and a meeting with India's Prime Minister for a planned investment announcement was abruptly called off.
- Tesla is expected to report a significant drop in operating profit and its first revenue decline in four years. Musk has ordered massive layoffs and is staking the company's future on a self-driving vehicle concept called the robotaxi. Many employees are unsettled by the changes the CEO wants to implement.
- Musk has been discussing the concept of an autonomous taxi service for at least eight years, but Tesla has not yet built the infrastructure required for it. The focus is now on the robotaxi instead of a cheaper mass-market vehicle that many investors deem crucial. Key managers have left the company, and analysts are concerned about Tesla's strategy.
- Musk has announced that more than 10% of the workforce will be laid off. Transitioning to the robotaxi service is risky, as regulation at the state and local level can be challenging. Nevertheless, Musk is betting on Tesla making robotaxis a reality by promoting FSD and cutting prices. Some of the Tesla layoffs were poorly organized and perceived as humiliating.
JPMorgan’s Kolanovic Says ‘Correction’ in US Stocks Isn’t Over: The slide in US equities over the past three weeks was the start of a selloff that is likely to ...
bloomberg.com/news/articles/2024-04-22/jpmorgan-s-kolanovic-says-correction-in-us-stocks-isn-t-over
Quick Glance: JPMorgan’s Kolanovic on US Stock Correction
- JPMorgan Chase & Co.'s Marko Kolanovic warns of a deeper correction in US stocks due to rising macroeconomic risks.
- Despite temporary market stabilization from corporate results, it doesn't mean stocks are in the clear.
- Kolanovic highlights risks from high market concentration, inflation, lack of Fed rate cuts, and overly optimistic profit outlooks.
- Recommends defensive positions in his portfolio with long volatility and commodity exposure, excluding gold.
Ford Doesn’t Have a Ferrari Division, but Ford Pro Could Be a Stock Catalyst
barrons.com/articles/ford-stock-ferrari-pro-earnings-84a92295
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Tesla to lay off nearly 2,700 employees in Texas factory, notice shows: Tesla will lay off 2,688 employees at its Texas factory, the electric vehicle maker said ...
reuters.com/business/autos-transportation/tesla-lay-off-nearly-2700-employees-texas-factory-notice-shows-2024-04-23/
Lockheed Martin beats Q1 profit estimates on strong demand: U.S. weapons maker Lockheed Martin beat Wall Street expectations for first-quarter sales and profit ...
reuters.com/business/aerospace-defense/lockheed-martin-beats-q1-profit-estimates-strong-demand-2024-04-23/
Tesla’s $939 Billion Valuation Lead Over Toyota Is Almost Gone: Two and a half years ago, Tesla Inc. was worth almost $1 trillion more than Toyota Motor Corp. ...
bloomberg.com/news/articles/2024-04-23/tesla-s-939-billion-valuation-lead-over-toyota-is-almost-gone
Paid articlePaid General Motors beats quarterly results targets, raises forecast: General Motors on Tuesday posted quarterly results that topped Wall Street targets and raised ...
reuters.com/business/autos-transportation/general-motors-beats-quarterly-results-targets-raises-forecast-2024-04-23/
China recently obtained Nvidia's artificial intelligence chips through resellers, @Reuters research has shown. Universities and research institutes got hold of ... Show more www.reuters.com/world/china/china-acquired-recently-banned-nvidia-chips-super-micro-dell-servers-tenders-2024-04-23/
Quick Glance: China Acquires Banned Nvidia Chips in Super Micro, Dell Servers
- Chinese universities obtained Nvidia chips through third parties despite ban
- Tenders reveal acquisition of advanced chips in server products
- Sales by unknown Chinese retailers bypass U.S. regulations
- Tenders demonstrate China's access to advanced technology, potential export control violations
$MSFT | Microsoft Rattles OpenAI With New AI Model That's 'As Capable As' GPT-3.5, While Apple Is Still Hashing Out Its Google Gemini Plans For ... Show more
Quick Glance: Microsoft unveils Phi-3 as latest AI model
- Phi-3 Mini is the first of three small AI models Microsoft plans to release that are capable of performing multiple AI tasks at lower computational costs.
- Microsoft launched the latest version of its lightweight AI model Phi-3 Mini, the first of three small models the company aims to release.
Apple's (AAPL) IPhone Sales in China Falls to Worst Level Since 2020: Apple Inc.’s iPhone sales in China fell 19% during the March quarter ...
bloomberg.com/news/articles/2024-04-23/apple-s-china-iphone-sales-dive-19-in-worst-quarter-since-2020
Apple sinks to 3rd place in China as iPhone sales slide: The sales slump marks the iPhone's worst performance in China since 2020 and signals increasingly tough ...
businessinsider.com/apple-china-iphone-sales-slide-huawei-counterpoint-tim-cook-2024-4
$GM | General Motors Q1 Earnings:
- Adj EPS $2.62 (Est. $2.14) 🟢
- Sales $43.000B (Est. $41.878B) 🟢
- Raises 2024 Adj. EPS Guidance From $8.50-$9.50 To $9 ... Show more
NextEra Energy, Inc. 2024 Q1 - Results - Earnings Call Presentation: The following slide deck was published by NextEra Energy, Inc.
seekingalpha.com/article/4685270-nextera-energy-inc-2024-q1-results-earnings-call-presentation
Paid articlePaid Pullback in US Stocks Is Not Over Yet, Goldman’s Rubner Says: Brace for more declines in stock markets, warns Goldman Sachs Group Inc.’s tactical specialist ...
bloomberg.com/news/articles/2024-04-23/goldman-s-rubner-says-the-pullback-in-us-stocks-is-not-over-yet
Paid articlePaid Lockheed Martin’s first-quarter operating income beat expectations as it delivered more fighter jets and missile systems www.bloomberg.com/news/articles/2024-04-23/lockheed-martin-tops-earnings-estimates-confirms-2024-outlook
Pfizer vs Moderna battle over COVID vaccine patents begins in UK: Pfizer and BioNTech asked a London court to revoke rival Moderna's patents over technology key ...
reuters.com/business/healthcare-pharmaceuticals/pfizer-vs-moderna-battle-over-covid-vaccine-patents-begins-uk-2024-04-23/
PepsiCo beats Q1 revenue forecasts as price increases moderate: PepsiCo reported better-than-expected revenue in the first quarter on strong international demand ...
apnews.com/article/pepsi-third-quarter-ae04eaf0ef9e51a04496c6bc5f869ce6
Apple announces event on May 7 amid reports of new iPad model launches: Apple will hold an event on May 7, the company said on Tuesday, amid reports that it ...
reuters.com/technology/apple-says-it-will-hold-event-may-7-2024-04-23/
Quick Glance: Apple announces event on May 7
- Apple will host an event on May 7, where the long-awaited revamped versions of the iPad Pro and iPad Air are expected to be revealed.
- These new models would signify Apple's first major overhaul of this product line since 2018, as iPad sales have decreased, prompting the company to introduce new products to stimulate demand.
- In the first quarter, iPad sales dropped by 25% to $7.02 billion, alongside a slowdown in iPhone sales.
- The event is scheduled to commence at 7 a.m. PT, corresponding to 2 p.m. GMT, and Apple is also preparing for its Worldwide Developers Conference from June 10 to June 14.
Meta is putting AI front and center in its apps, and some users are annoyed: Meta’s artificial intelligence-powered assistant is suddenly everywhere in its ...
nbcnews.com/tech/tech-news/meta-putting-ai-front-center-apps-users-are-annoyed-rcna148857
Google invests $640 mln in new data centre in Netherlands: Alphabet-owned Google is investing 600 million euros ($640.62 million) in a new data centre in the ...
reuters.com/technology/google-invests-640-mln-new-data-centre-netherlands-2024-04-23/
Investors Focus on Labor Costs as GM Prepares to Report Earnings: For 2024, GM expects an operating profit of about $13 billion, up from the $12 ...
barrons.com/articles/labor-contract-gm-earnings-94226fac
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Baron Health Care Fund Q1 2024 Shareholder Letter: In the quarter ended March 31, 2024, Baron Health Care Fund advanced 8.92% compared with the 8 ...
seekingalpha.com/article/4685283-baron-health-care-fund-q1-2024-shareholder-letter
Google Fires More Workers Over Israeli Cloud Contract Protest After CEO Says Leave Politics At Home
forbes.com/sites/roberthart/2024/04/23/google-fires-more-workers-over-israeli-cloud-contract-protest-after-ceo-says-leave-politics-at-home/
Nvidia is also there: Will these 2 AI stocks actually crash by up to 65% soon?: On Friday, AI stocks like Nvidia suffered a severe setback on the stock exchanges ...
boerse-online.de/nachrichten/aktien/auch-nvidia-ist-dabei-stuerzen-diese-2-ki-aktien-tatsaechlich-bald-um-bis-zu-65-ab-20355935.html
Tesla targeting about 400 voluntary job cuts in Germany: Tesla is targeting around 400 job cuts at its German gigafactory near Berlin, or about 3% of the plant's ...
reuters.com/business/autos-transportation/tesla-aims-cut-400-jobs-germany-via-voluntary-programme-2024-04-23/
How China Can Keep the Global Electric Vehicle Market Aloft: BloombergNEF expects the country’s plug-in car sales to approach 10 million this year.
bloomberg.com/news/newsletters/2024-04-23/how-china-can-keep-the-global-electric-vehicle-market-aloft
Tesla targeting about 400 voluntary job cuts in Germany: Tesla is targeting around 400 job cuts at its German gigafactory near Berlin, or about 3% of the plant's ...
reuters.com/business/autos-transportation/tesla-aims-cut-400-jobs-germany-via-voluntary-programme-2024-04-23/
Amazon Stock: Grocery Push Takes' Step Forward' With New Subscription: A new subscription option for Prime members marks an "important step forward" ...
investors.com/news/technology/amazons-grocery-push-takes-step-forward-with-new-subscription-option/
A Tiktok ban is a win for Mark Zuckerberg: Mark Zuckerberg is likely paying close attention to the possible ban or forced sale of TikTok ...
businessinsider.com/tiktok-ban-win-mark-zuckerberg-meta-instagram-reels-why-2024-4
Alphabet’s (GOOGL) Cash Pile Raises Dividend Hopes on Wall Street: Alphabet Inc. is bringing in so much cash that hopes are rising it will take a page out of the ...
bloomberg.com/news/articles/2024-04-22/alphabet-s-cash-boom-is-raising-dividend-hopes-on-wall-street
$TSLA $MSFT $META $GOOGL | Wall Street Set To Open Higher As Tesla To Kick Off 'Magnificent 7' Earnings: Why This Analyst Thinks Market Weakness Is A 'Healthy ... Show more
Microsoft introduces smaller AI model: Microsoft on Tuesday announced a cost-effective, small language artificial intelligence model that can perform tasks such ...
reuters.com/technology/microsoft-introduces-smaller-ai-model-2024-04-23/
Quick Glance: New Compact AI Model by Microsoft
- Microsoft has introduced a cost-effective AI model called Phi-3-mini, capable of tasks like content creation and social media posting using smaller amounts of data.
- Phi-3-mini outperforms models twice its size across various benchmarks evaluating language, coding, and math capabilities.
- Smaller AI models are designed to execute simpler tasks, making it easier for companies with limited resources to use them.
- The Phi-3-mini model will be immediately available on Microsoft's Azure cloud platform, Hugging Face's AI model catalog, and the Ollama framework.
The US Supreme Court stepped into the contentious unionization drive at Starbucks, hearing arguments in the chain's challenge to a judicial order requiring it ...
reut.rs/3xQxzyf
Tesla's Cybertruck needs a hole drilled through the accelerator pedal: A user posted a 35-second video on X of him fixing the gas pedal issue that caused a ...
businessinsider.com/tesla-cybertruck-accelerator-pedal-recall-fix-includes-drilling-hole-2024-04
Adobe to bring full AI image generation to Photoshop this year: Adobe said on Tuesday it plans to place a tool for full artificial intelligence image generation ...
reuters.com/technology/adobe-bring-full-ai-image-generation-photoshop-this-year-2024-04-23/
Security equipment company raided in EU over foreign subsidies concerns: The European Commission on Tuesday raided a security equipment company in an EU country ...
reuters.com/world/europe/security-equipment-company-raided-eu-over-foreign-subsidies-concerns-2024-04-23/
RTX beats estimates on military demand, aviation strength: Aerospace and defense major RTX on Tuesday beat first-quarter earnings estimates ...
reuters.com/business/aerospace-defense/rtx-profit-jumps-20-aviation-strength-military-demand-2024-04-23/
Quick Glance: RTX Exceeds Expectations Due to Strong Demand and Profits
- RTX, a key player in the aerospace and defense industry, outperformed earnings expectations in the first quarter. This was facilitated by high demand for missile defense systems and strength in the commercial aftermarket business.
- Pratt and Whitney, a subsidiary of RTX, saw a 23% increase in sales due to an ongoing inspection to check potentially flawed components in their geared turbofan engines. Despite new engine deliveries, Pratt's operating profit declined as new engines are often discounted to generate profits through aftermarket sales over the engine's lifecycle.
- Operating profit of RTX's defense sector, Raytheon, surged by 74%. This growth was supported by the popular Patriot defense system and profits from divesting the cybersecurity, intelligence, and services business. In the quarter, Raytheon secured a $1.2 billion order for German Patriot air and missile defense systems.
- The rising international demand for U.S. weaponry is a consequence of Russia's invasion of Ukraine, Chinese aggressions, and conflicts in the Middle East. Operating profits in Raytheon's defense sector increased by 74%, backed by the sought-after Patriot defense system and gains from selling the cybersecurity, intelligence, and services business.
Wall Street is looking to Tesla's earnings for clues to Musk's plan to restore company's wild growth
apnews.com/article/tesla-future-sales-decline-robotaxi-artificial-intelligence-b60696cb69d7735983abcf51aee7f743
Better than the MSCI World? Warren Buffett swears by this ETF: Warren Buffett's ETF tip: An S&P 500 ETF as a smart investment that always makes a profit in the ...
boerse-online.de/nachrichten/fonds/besser-als-der-msci-world-auf-diesen-etf-schwoert-warren-buffett-20355971.html
Reuters World News: Ukraine's depleted army, and other top stories: Tensions mount inside Iran as crackdowns intensify on the streets.
reut.rs/4dcXIr2
Citigroup Preferred Offers 10% Yield—and Plenty of Risk
barrons.com/articles/citigroup-stock-preferred-yield-77173e19
Paid articlePaid Global equities are more attractive after the recent rout removed market froth and as investors focus on robust corporate earnings ... Show more www.bloomberg.com/news/articles/2024-04-23/citi-strategists-say-buy-dips-in-global-stocks-on-solid-earnings
UPS sees profit in US Postal Service work that dragged down FedEx earnings: United Parcel Service expects its newly won U.S. Postal Service (USPS) air cargo ...
reuters.com/business/ups-sees-profit-us-postal-service-work-that-dragged-down-fedex-earnings-2024-04-23/
Walmart-backed fintech One introduces buy now, pay later as it prepares bigger push into lending
cnbc.com/2024/04/23/walmart-backed-fintech-one-introduces-buy-now-pay-later.html
Instacart Stock Drops as Amazon Launches Grocery Delivery Service: Both Amazon.com and Instacart are now offering unlimited grocery deliveries for $9 ...
barrons.com/articles/instacart-stock-amazon-grocery-delivery-b88a59b9
Paid articlePaid UPS profit tops expectations as cost-cuts deliver margin: United Parcel Service reported better-than-expected quarterly profit on Tuesday as cost cuts offset ...
reuters.com/business/ups-quarterly-profit-falls-high-labor-costs-weak-small-package-demand-2024-04-23/
Disney and Microsoft have teamed up for a custom X-Men ‘97 Comic Xbox Series X, which tells it's own exclusive X-Men story ... Show more
Tesla stock price hits 52-week low after another round of price cuts: "Tesla prices must change frequently in order to match production with demand ...
markets.businessinsider.com/news/stocks/tesla-stock-vehicle-model-y-price-cuts-tsla-elon-musk-2024-4
PowerColor's AMD Radeon RX 7800 XT hits its lowest-ever price of $469: The lowest price this graphics card has ever been; the PowerColor AMD Radeon RX 7800 XT ...
tomshardware.com/pc-components/gpus/powercolors-amd-radeon-rx-7800-xt-hits-its-lowest-ever-price-of-dollar469
Tesla's layoffs have hit almost 12% of its Texas workers: Tesla laid off 2,688 workers at its Austin factory, according to a WARN notice. It's likely part of ...
businessinsider.com/teslas-layoffs-jobcuts-hit-austin-texas-workers-2024-4
Citigroup Selling Maple Bonds in First Sizable Deal Since 2015: Citigroup Inc. sold a large debt offering in the Canadian-dollar bond market for the first time ...
bloomberg.com/news/articles/2024-04-22/citigroup-selling-maple-bonds-in-first-sizable-deal-since-2015
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Elon Musk apologizes to laid off Tesla employees for a major mistake
kentucky.com/news/business/article287862635.html
Google fires more workers after CEO says workplace isn’t for politics: Some employees protested the tech giant’s contract with the Israeli government ...
washingtonpost.com/technology/2024/04/22/google-nimbus-israel-protest-fired-workers/
Quick Glance: Google dismisses workers following protests on technology deal with Israeli government
- Following protests regarding the technology supplied to the Israeli government, Google has terminated employees, heightening tensions around a sensitive contract.
- The confirmed dismissals by Google on Wednesday occurred after nine individuals were detained during sit-in demonstrations in New York and Sunnyvale, California, a day subsequent to police intervention.
- Demonstrations are predominantly coordinated by a faction known as No Tech For Apartheid. Google states that Nimbus is not utilized for weaponry or intelligence purposes.
- Stated in a blog post, Google's CEO Sundar Pichai implied a close supervision of employees as the company enhances efforts in advancing its AI technology, marking a crucial phase in the industry and potentially humanity.
A National U.S. News Outlet Is Hiring a Full-Time 'Lauren Sánchez Reporter'
entrepreneur.com/business-news/the-daily-beasts-hiring-a-full-time-lauren-sanchez/473050
JPMorgan China names new heads of China securities unit: JPMorgan Chase & Co appoints Lu Fang to chair the board of its China securities arm ...
reuters.com/business/finance/jpmorgan-china-names-new-heads-china-investment-banking-arm-2024-04-23/
Nvidia Stock Rises. Why Analysts See an Opportunity in the Chip Maker’s Fall.
barrons.com/articles/nvidia-stock-price-buy-sell-9ab2eafc
Paid articlePaid Apple Named a Top Pick for 2024 at BofA Ahead of Key Earnings: Apple Inc. was named a top pick for 2024 at Bank of America on optimism over the iPhone maker’s ...
bloomberg.com/news/articles/2024-04-22/apple-named-a-top-pick-for-2024-at-bofa-ahead-of-key-earnings
Paid articlePaid Morning Bid: Tanking Tesla reports, Europe business beats: A look at the day ahead in U.S. and global markets from Mike Dolan
reuters.com/markets/us/global-markets-view-usa-2024-04-23/
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