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☆ Inflation data commands center stage next week and provides a test for the market rally
▼ + stars: | 2024-05-11 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

All three major U.S. stock indexes closed higher for the week, led by the Dow Jones Industrial Average . The Nasdaq Composite added 1.14% while the S & P 500 advanced 1.85% in a relatively quiet week of economic updates. Within the portfolio, Disney and Wynn Resorts released quarterly numbers; we took issue with the stock reaction to both reports. It also raises the stakes around major economic releases, such as next week's consumer inflation report. In the week ahead, earnings season continues — headlined by Walmart on Thursday — and inflation data will dominate the economic calendar.

Persons: We've, Jim Cramer, Dow Jones, we'll, We'll, Stanley Black, Decker, Jack, JACK, Arcutis, Spero, JD.com, Armour, Jim Cramer's, Jim, Carlo Allegri Organizations: Dow Jones, Nasdaq, Disney, Wynn Resorts, Procter, Procter & Gamble, Walmart, CPI, PPI, Club, Home Depot, Biotech Corporation, Music Entertainment, Central Puerto S.A, TeraWulf Inc, Paysafe Group Holdings, QuickLogic Corporation, Kopin Corp, Royalty Corp, Agilysys Inc, Crop Solutions Corp, Inovio Biomedical, Intercorp Financial, Lithium, Argentina ) Corp, Sea, Sony Group Corporation, SONY, Holding, HudBay Minerals, Autolus Therapeutics, Game Technology, Nu Holdings, Dragonfly Energy Holdings Corp, Bakkt Holdings, Prestige Consumer Healthcare, SilverCrest Metals, Inc, Mining Corp, Acurx Pharmaceuticals, Cresco Labs, Dole plc, DOLE, Arcos Dorados Holdings, ARCO, Cisco Systems, Grab Holdings, Copa Holdings S.A, Technologies, Iris Energy, KORE Group, Super, Spero Therapeutics, ZTO, Baidu, Deere & Company, NICE, Lightspeed Commerce, Ship Lease, Canada Goose Holdings, Drainage Systems, Consolidated Water Co, Outlook Therapeutics, Despegar.com, Corp, DXC Technology Company, Flowers Foods, Bruker Corporation, WYNN, CNBC, Foods Locations: Procter &, Central, Cayman, Lithium Americas, Argentina, Manhattan, New York City

☆ Here are Wednesday's biggest analyst calls: Nvidia, Broadcom, Apple, Tesla, Netflix, Amazon, Microsoft & more
▼ + stars: | 2024-04-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: Barclays reiterates Tesla as equal weight Barclays lowered its price target on Tesla to $180 per share from $225 and said it sees a negative catalyst heading into earnings. Wells Fargo reiterates Microsoft as overweight Wells raised its price target on the stock to $480 per share from $460. Barclays reiterates Broadcom as overweight Barclays raised its price target on Broadcom to $1,500 per share from $1,405. Wells Fargo reiterates Goldman Sachs as overweight Wells said it gives a "gold star" to Goldman coming out of earnings. Truist reiterates Amazon as buy Truist raised its price target on the stock to $216 per share from $195.

Persons: Tesla, Mizuho, RCL, Hancock Whitney, Raymond James, it's, Vernova, Wells, AAPL, TD Cowen, Jefferies, Morgan Stanley, NVDA, Goldman Sachs, Goldman, Maxim, Truist Organizations: Street, Barclays, Royal Caribbean, Citi, GE, HSBC, Biotech, Apple, Microsoft, Broadcom, Education, Strategic Education, Guggenheim, Automotive, Netflix Locations: China, Gulf

☆ Struggling electric vehicle company Canoo spent twice as much on its CEO's private jet as it pulled in last year
▼ + stars: | 2024-04-04 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Canoo spent $1.7 million on CEO Tony Aquila's private jet bills, twice its 2023 revenue. Investors often scrutinize private jet spending, especially when a company is in trouble. AdvertisementElectric vehicle company Canoo spent twice as much on its CEO's private jet trips as it brought in last year. Canoo, which has never turned a profit as a public company, paid $1.7 million in "aircraft reimbursements" for its CEO last year. This story is available exclusively to Business Insider subscribers.

Persons: Canoo, Tony, — Organizations: Service, Business

☆ Here are the 3 key things we're most focused on in the stock market this week
▼ + stars: | 2024-03-30 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

The annual reading is above the 2% target set by the central bank but is a slight deceleration from the 2.9% annual rate in December and January. Looking ahead to next week, it's all about the macroeconomic updates as the first quarter earnings season is mostly over. ET: ISM Manufacturing PMI After the bell: PVH Corp. (PVH), Canoo (GOEV) Tuesday, April 2 10:00 a.m. ET: ISM Services PMI Before the bell: Acuity Brands (AYI) After the bell: BlackBerry (BB), Levi Strauss (LEVI) Thursday, April 4 8:30 a.m. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Dow, payrolls, Paychex, Calvin Klein, Tommy Hilfiger, Buster's, Levi Strauss, LEVI, Lamb Weston, Jim Cramer's, Jim Cramer, Jim, Eric Thayer Organizations: Dow Jones, Nasdaq, Federal, Cal, Maine Foods, Conagra, PVH Corp, PMI, Maine, Brands, Jim Cramer's Charitable, CNBC, Workers, Grand Central Market, Bloomberg, Getty Locations: U.S, Cal, Los Angeles , California

☆ Some of the designs for the Apple car reportedly looked like Volkswagens
▼ + stars: | 2024-03-11 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Apple reportedly pulled the plug on its decade-long EV project last month. Though we'll never see an Apple Car, we might have some insight into what could've been. Different designs for the car looked like a Volkswagen Microbus or a Canoo Lifestyle Vehicle, Bloomberg reports. Several designs for the car alternately took inspiration from the Volkswagen Microbus of yesteryear and the futuristic Canoo Lifestyle Vehicle, Bloomberg's Mark Gurman reported Sunday. VolkswagenAround 2020, the design for the car took inspiration from the Canoo Lifestyle Vehicle, per Bloomberg.

Persons: we'll, could've, —, Apple execs, Mark Gurman, Jony, Apple Organizations: Apple, Volkswagen, Bloomberg, Service, Tesla Locations: yesteryear, Apple's

☆ EV maker Canoo slashes spending for second half of 2023, forecasts smaller loss
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

A view shows the Canoo logo on a Canoo LV (Lifestyle Vehicle) electric vehicle outside a manufacturing site in Livonia, Michigan, U.S. November 29, 2022. The EV maker expects capital expenditure of $30 million to $40 million in the second half of 2023, compared with its prior forecast range of $70 million to $100 million. Canoo projects core loss to be between $85 million and $105 million for the second half, versus its previous range of $120 million to $140 million. Adjusted loss per share was 6 cents, compared with LSEG estimates of a 12-cent loss. Its cash and cash equivalents were $8.3 million as of Sept. 30, compared with $5 million in the preceding three months.

Persons: Rebecca Cook, Canoo, Tony Aquila, EVs, Aquila, Samrhitha, Shilpi Majumdar Organizations: REUTERS, Ford, General Motors, U.S . Defense Department, Walmart, NASA, Thomson Locations: Livonia , Michigan, U.S, Oklahoma, Bengaluru

☆ What we'd like to see from 3 economic readings and 2 earnings reports next week
▼ + stars: | 2023-11-11 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The major averages advanced again this week as earnings results came in largely better than expected, interest rates stabilized and oil prices dropped below $80 a barrel. Looking ahead, we'll get a couple more earnings results and some key inflationary data to chew on. In this past week, we bought 150 shares of DuPont (DD) and added 75 shares of Wynn Resorts (WYNN). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Wynn Resort's, WYNN, we'll, That's, —, we're, it's, PANW, Tyson, Henry Schein, Spero, Sanara, Sara Lee Corp, JD.com, Woodward, Jim Cramer's, Jim Cramer, Jim, Mario Anzuoni Organizations: Nasdaq, Dow Jones, Coterra Energy, Emerson, Disney, PPI, TJX, Palo Alto Networks, DuPont, Wynn Resorts, WYNN, Tyson Foods, TSN, Tower Semiconductor, Partners, Genius Sports, Spero Therapeutics, Star Bulk Carriers Corp, Beauty Health, Asure, Gladstone Capital Corp, TeraWulf Inc, Harrow Health, Afya, Sea, Paysafe Group Holdings, Solar Inc, Aramark Holdings Corp, Lending, Holding, BioXcel Therapeutics, IHS Inc, Rewalk Robotics, Acurx Pharmaceuticals, Energizer Holdings, Power Solutions, Rekor Systems, Wine Estates, Momentus Inc, SIGMA Lithium Corporation, AlTi, QuickLogic Corporation, Arcturus Therapeutics, Dada Nexus, Solutions, Target Corp, Parts, ZIM Integrated Shipping Services, Alto Networks, Cisco Systems, Chemical & Mining Co, PennantPark Investment Corp, Copa Holdings S.A, Walmart, Arcos Dorados Holdings, ARCO, NICE, Body, Warner Music Group Corp, Ross Stores, Homes, Dolby Laboratories Inc, American Software, ESCO Technologies, ZTO, International, BJ's Wholesale, Jim Cramer's Charitable, CNBC, Maxx Locations: Macau, Chile, Cayman, Pasadena , California

☆ EV startup Canoo names board member Greg Ethridge as CFO
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +1 min

Companies Canoo Inc FollowWalmart Inc FollowAug 28 (Reuters) - Electric-vehicle startup Canoo (GOEV.O) on Monday named board member Greg Ethridge as its chief financial officer, succeeding Ken Manget. The company, whose shares have fallen 57% so far this year, said this move was effective immediately. Ethridge has agreed to resign from Canoo's board of directors, a position he has held since 2020, by the end of the year. Canoo has contracts with the U.S. Defense Department for supply of advanced battery packs, Walmart (WMT.N) and National Aeronautics and Space Administration (NASA) for supplying electric vehicles. Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Greg Ethridge, Ken Manget, Ethridge, Manget, Canoo, Jaspreet Singh, Shilpi Majumdar Organizations: Walmart, U.S . Defense Department, National Aeronautics and Space Administration, NASA, Thomson Locations: Bengaluru

☆ EV maker Canoo posts smaller-than-expected loss on lower costs
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

A view shows a Canoo LDV (Lifestyle Delivery Van) electric vehicle in a manufacturing site in Livonia, Michigan, U.S. November 29, 2022. REUTERS/Rebecca Cook/File PhotoAug 14 (Reuters) - Electric-vehicle maker Canoo (GOEV.O) posted a smaller-than-expected quarterly loss on Monday on lower research and development costs, sending its shares up 2% in extended trading. The company also unveiled its new lifestyle delivery vehicle 190, that has increased payload load capacity and body length compared with the original lifestyle delivery vehicle 130. Canoo's loss narrowed to $70.9 million in the second quarter from $164.4 million a year earlier. Research and development costs fell about 67% in the quarter, lowering operating expenses to $73.6 million from $173.5 million a year earlier.

Persons: Rebecca Cook, Canoo, Tony Aquila, Zaheer Kachwala, Shounak Dasgupta Organizations: REUTERS, Research, EV, U.S Defense Department, Walmart, National Aeronautics and Space Administration, NASA, Department of Defense, Thomson Locations: Livonia , Michigan, U.S, Bengaluru

☆ Canoo finalizes incentive package with Oklahoma, Cherokee Nation
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

A view shows a Canoo LTV (Light Tactical Vehicle) electric vehicle, produced for the U.S. Army, at a manufacturing site in Livonia, Michigan, U.S. November 29, 2022. REUTERS/Rebecca Cook/File PhotoAug 14 (Reuters) - Electric-vehicle startup Canoo (GOEV.O) said on Monday it finalized incentive agreements with the state of Oklahoma and the North American tribe Cherokee Nation, for an estimated value of $113 million over 10 years. As part of the agreements, Canoo said it has already started hiring for its vehicle assembly facility in Oklahoma City and the battery manufacturing factory in Pryor. Canoo, which will invest more than $320 million at both its facilities in the state, had entered into a long-term lease agreement for the vehicle manufacturing facility in Oklahoma City earlier this year. Reporting by Tanya Jain and Akash Sriram in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Rebecca Cook, Canoo, Tanya Jain, Akash Sriram, Krishna Chandra Organizations: LTV, U.S . Army, REUTERS, Cherokee, Department of Commerce, Thomson Locations: Livonia , Michigan, U.S, Oklahoma, Oklahoma City, Pryor ., Bengaluru

That is by far the most ever spent on clean energy in a year. Solar and Wind Power Have Taken Off Electricity generation per year, in terawatt hours China 600 TWh 500 Solar Wind U.S. China 400 E.U. It would shred regulations designed to curb greenhouse gases, dismantle nearly every federal clean energy program and boost the production of fossil fuels. 1 2 3 4 5 Even Tulsa, with its strong links to oil and gas, is embracing clean energy. “But we also understand that energy is energy, whether it is generated by wind, steam or whatever it might be.”Around the country, clean energy is taking root in unlikely locales.

Persons: ”, Fatih Birol, Al Gore, Crews, Francis Energy, Dewey, Bartlett Jr, “, J.W, Peters, Mr, Lazard, Gregory Nemet, —, Biden, Tesla, Giovanni Bertolino, Jon Creyts, Steve Uerling’s, Uerling, Cathy Zoi, It’s, Mary Barra, ’, Barra Organizations: Buses, Port, International Energy Agency, India India, Energy, The New York Times, Heritage Foundation, Republican, Ford, University of Tulsa’s School of Petroleum Engineering, “ Oil, Drillers, Navistar, Public Service Company of Oklahoma, Francis, Solar Power, U.S . Steel, Gas, University of Wisconsin -, Panasonic, United, European Union, United States ’, General Motors, RMI, Ford Fusion, Tesla, Postal Service, Amazon, Peterbilt, Companies, Francis Energy, BMW Group, Honda, Hyundai, Kia, Benz Group Locations: Pittsburgh, Milwaukee, Port of Los Angeles, Houston, Europe, United States, America, China, Britain, terawatt, India, U.S, States, Beijing, London, Tokyo, Washington, Oslo, Dubai, Tulsa, Okla, Italian, Oklahoma, Oklahoma City, Texas, Galveston, In Arkansas, Republican, University of Wisconsin - Madison, Georgia, Korean, Nevada, tailpipes, California, New York, San Francisco, Canada, South Korea, Russia, Ukraine, Steve Uerling’s Tulsa, E.U, G.M

☆ What we want to see from retail sales and 3 Club earnings in the week ahead
▼ + stars: | 2023-08-12 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

State of the consumer: Retail sales for July are out on Tuesday. Key retail earnings reports from Walmart (WMT), Target (TGT) and Tapestry (TPR) will also provide clues on the health of the consumer. Earnings : On Wednesday morning, we hear from Club holding TJX Companies (TJX). Prior retail sales data has shown monthly sales growth at clothing and clothing accessory stores accelerate throughout the quarter, rising 0.14% monthly in April, 0.3% in May and 0.6% in June. For those looking to review first-quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, Estee Lauder, we've, Palo, Cardinal Health, JD.com, Brinker, BILL, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Dow Jones, Investors, Walmart, TJX Companies, Palo Alto Networks, Embraer, Energy, Getty, Sea Ltd, Cardinal, Nu Holdings, Housing, ZIM, Food, Colgate, Palmolive, Cisco Systems, Chemical & Mining, Keysight Technologies, Ross Stores, Deere & Company, Alto Networks, Jim Cramer's Charitable, CNBC Locations: China, Dole, DOLE, Manhattan, New York City

REUTERS/Jonathan Ernst/File PhotoCompanies Canoo Inc FollowNikola Corp FollowAug 4 (Reuters) - The U.S. Securities and Exchange Commission fined electric vehicle company Canoo Inc $1.5 million on Friday for what the regulator alleges were reporting failures related to hundreds of millions of dollars of unreasonable revenue projections. In the run-up to the deal, Canoo (GOEV.O) had projected revenue of $120 million in 2021 and $250 million in 2022 based on deals to provide engineering services to other companies. In March 2021, the carmaker's stock tumbled 21% after it announced it would not achieve the anticipated revenue, the SEC said in court papers. The SEC said Kranz and Balciunas knew before the merger that the projects were unlikely to generate revenue. Canoo said in May it had tentatively agreed to pay a $1.5 million penalty to settle with the SEC.

Persons: Jonathan Ernst, Canoo, Ulrich Kranz, Paul Balciunas, Kranz, Balciunas, Daniel Wachtell, Nikola, Jody Godoy, Jonathan Oatis, Nick Macfie, Deepa Babington, David Gregorio Our Organizations: U.S . Securities, Exchange, SEC, REUTERS, Nikola, Exchange Commission, DraftKings Inc, Thomson Locations: Washington, Texas, New York

☆ Telo's tiny pickup and Canoo's EV are having a moment. Here are the hottest small vehicles on the road right now.
▼ + stars: | 2023-07-06 | by ( Will Gendron | ) www.businessinsider.com time to read: +3 min

Compact trucks are becoming a hot commodity in the US. The popularity of Japanese-made Kei trucks and new models from EV startups are indicative of a trend. Here are the tiny trucks that are taking US roads by storm. Other car makers are getting in on the trend as compact pickup trucks have become more common on the road. And startups like Telo and Canoo are working on new, fully-electric models, like the Telo MT1 and Canoo's pickup truck.

Persons: we've, Matt Matusiak, Ford's, Matusiak, Todd Gato Organizations: Japan, Toyota Corolla, Federal Motor Vehicle, National, HVNY Imports, Ford Locations: Florida, Edmunds, New York

☆ Lack of electric vans opens door for Chinese, other EV makers
▼ + stars: | 2023-04-13 | by ( Nick Carey | ) www.reuters.com time to read: +7 min

[1/3] Tristan Thomas, CEO of Packfleet, demonstrates charging an electric van made by Chinese brand Maxus at the fully-electric package delivery firm's headquarters in London, Britain, October 27, 2022. Packfleet grew tenfold in 2022 and CEO Tristan Thomas said most of the company's 53-vehicle fleet are Maxus vans. SAIC said it sold 18,000 mostly electric Maxus brand vehicles in Western Europe and Scandinavia last year, including buses and pickup trucks. Fleet manager Sean Clifton has 50 additional Ford vans and 20 Maxus vans on order, but will need more soon as Asda electrifies its 1,300 delivery vans. There is no difference in delays for conventional and electric vans at Renault, said commercial vehicle marketing director John Cleworth.

☆ Breakingviews: EV double-SPAC provides only weak recharge
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

Electric-van developer Arrival just unveiled a merger with a special-purpose acquisition company, valuing it at $524 million. The twist: It already went public via a blank-check deal in 2021, at a valuation some 10 times higher. Arrival’s fall mirrors other EV hopefuls like Canoo (GOEV.O), Faraday Future Intelligent Electric (FFIE.O) and Lordstown Motors (RIDE.O). Arrival’s latest merger promises $283 million of it from Kensington Capital Acquisition Corp. V’s (KCGI.N) trust account. British startup Wejo (WEJO.O)tried a similar second-SPAC gambit, though it anticipates backing its transaction with private investment.

☆ Canoo's shares sink after EV maker agrees to sell $52 million in discounted stock
▼ + stars: | 2023-02-06 | by ( John Rosevear | ) www.cnbc.com time to read: +1 min

Shares of electric vehicle startup Canoo were sharply lower in early trading on Monday after the company said that it has agreed to sell discounted shares to raise $52.5 million. Canoo said in a statement that it has entered into agreements with institutional investors to sell 50 million new shares, together with warrants that give the investors an option to buy up to 50 million more. Canoo didn't name the institutional investors involved in the deal. For current shareholders, the deal also means significant dilution of their holdings, as it will add between 50 million and 100 million shares to the company's current outstanding share count of 356 million. Canoo said in November that it was running low on cash and that it expected to raise funds by issuing new shares.

☆ EV makers fill up on cash before looming pileup
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Feb 6 (Reuters Breakingviews) - Battery-powered-car makers are pulling off at the cash station. A recent stock rally provides an extra charge before the inevitable pileup. Despite having no revenue, Faraday’s market value has quadrupled since the start of the year after a roughly 90% fall. Likewise, $388 million Canoo, whose top line is nonexistent, is selling 50 million shares and 50 million warrants to raise just $52 million. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ The EV industry is getting its first recession stress test. Will it be a bust?
▼ + stars: | 2023-01-14 | by ( Tim Mullaney | ) www.cnbc.com time to read: +6 min

As electric-car stocks plummeted in late 2022, the rout evoked comparisons to the dot-com stock bust two decades ago. But optimists like Wedbush analyst Dan Ives think it's the right, aggressive move to jumpstart the EV transition amid macro uncertainty. "There's no stress test for a severe recession for an industry that's in its infancy." The outlook from China, home to more than half of the world's EV sales, according to Clean Technica, is at least as murky. Tesla's 2023 world is like Amazon and eBay's 2000A recession, if it happens, doesn't necessarily mean EV sales will fall.

☆ 2023 will make or break Tesla wannabes like Rivian and Lucid. Here's what they need to do if they want to survive.
▼ + stars: | 2023-01-04 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +5 min

"As the pressure on the supply chain eases, investors can point to a General Motors and say, 'They're building without a problem, why can't you?'" During quarterly earnings calls, executives at Rivian and Lucid cautioned investors of more trouble heading into 2023 as they raced to ramp up production and their logistics processes in hand. Accordingly, stock prices have been sinking from blockbuster IPO and SPAC highs, with many EV startups' shares down as much as 80% from earlier last year. Rivian reported Tuesday it fell a few hundred vehicles short of its goal to build 25,000 electric cars in 2022. If the startups want to succeed and regain investor faith, they have to get closer to meeting their numbers in 2023.

This year wasn't about which auto manufacturer stock performed the best. All major automakers and EV startups experienced double-digit declines this year – partially or completely offsetting their gains in 2021. Many once-promising EV startups were among the biggest losers, as some ran into capital troubles or couldn't scale production as quickly as anticipated. Traditional automakers were able to temper their stock declines better than the EV startups. But America's largest automakers – General Motors and Ford Motor – both experienced declines of more than 40%, barring any surprise rally to end the year.

☆ EV startup Canoo claims former execs joined the company just so they could steal its secrets — and launch a rival automaker
▼ + stars: | 2022-12-27 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Electric vehicle maker Canoo is suing some of its former employees who launched a rival company. Canoo claims the employees used Canoo trade secrets and IP for their new startup, Harbinger. Harbinger, a Los Angeles-based EV-maker that launched in September, is led by a team of former Canoo, Faraday Future, and QuantumScape executives. A Canoo spokesperson told Insider in a statement Tuesday that, "As this lawsuit demonstrates, we take the protection of our IP seriously." Several former Canoo employees have announced plans to join Harbinger on LinkedIn in recent months.

☆ Where Walmart CEO Doug McMillon expects inflation to stick around into 2023
▼ + stars: | 2022-12-15 | by ( Frank Holland | In | ) www.cnbc.com time to read: +3 min

Retail sales slumped on Thursday even though the latest data on consumer prices earlier this week showed a cooling. Grocery sales, responsible for 56% of Walmart's revenue, is a key inflation read for the McMillon and company. McMillon's comments came after November CPI report that showed consumer prices rose 7.1% year over year, which was below estimates, but before the retail sales decline posted on Thursday. "But dry groceries, consumables is where we're seeing the most stubborn and persistent inflation, mid double-digit inflation. McMillon said Walmart is continuing to look for new technology to maintain inventory and increase the speed of its e-commerce business.

☆ Ford and GM are going head-to-head for the fastest-growing electric vehicle market: delivery vans
▼ + stars: | 2022-12-06 | by ( Alexa St. John | ) www.businessinsider.com time to read: +2 min

Ford has pursued the commercial EV space through Ford Pro, while GM has tackled it with BrightDrop. This week's news mirrors the past several years of the two automakers one-upping each other with major EV investments. The commercial EV space has long been hindered by cost, a lack of viable products, and infrastructure questions. Monday, it announced it would produce its delivery vans at its factory in Canada and named DHL Express Canada as its first international customer. Ford Pro, the automaker's electric last-mile delivery unit, meanwhile, announced an order for 2,000 E-Transit vans from DHL this week.

☆ Stocks making the biggest moves midday: Apple, Manchester United, Activision Blizzard and more
▼ + stars: | 2022-11-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. Apple — Apple's stock shed 2% on Friday after protests occurred at the iPhone maker's major Foxconn supplier in China earlier this week. Activision Blizzard – Shares of the video game company slid more than 4% after Politico reported the Federal Trade Commission is likely to sue to block Microsoft's $69 billion acquisition of Activision Blizzard. Manchester United — Manchester United's stock surged 12.8%, building on this week's earlier gains following news that the soccer team's owners are weighing a potential sale. Canoo – The electric vehicle company's stock price traded 4.6% higher after a Securities and Exchange Commission filing revealed that CEO Tony Aquila purchased shares.

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