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Daibes is now a key figure in a sweeping bribery case brought against Menendez, his wife and multiple other associates. Menendez, according to the indictment, then badgered both Sellinger and the prosecutor who had been put in charge of Daibes case, calling them several times. Menendez also asked one of his political advisors to let Sellinger know he was upset with the way the Daibes case was being handled, according to the indictment. Last year, following a delayed trial, Daibes pleaded guilty in his bank fraud case. But his sentencing has been repeatedly delayed and is now scheduled to take place next month.
Persons: , Sen, Bob Menendez, Philip Sellinger, Sellinger, Menendez, Fred Daibes, Daibes, , Tim Donohue, ” Daibes, James Delaney, , Delaney's, Bridget Delaney, Joe Biden, Nadine, David Schertler, Nadine Menendez, ” Sellinger, Menendez's Organizations: Attorney, U.S, Edgewater, New, Commission of Investigation, Associated Press, Department of Justice, New Jersey U.S, Attorney’s Locations: New Jersey, Daibes, Egypt, Manhattan, U.S, Hudson, Edgewater , New Jersey, Union City, Edgewater, , Newark
Wall Street is holding onto its outlook on Tesla after it delivered a solid earnings report that nevertheless showed weaker margins after the company's aggressive price cuts. The electric vehicle maker reported revenue of $24.93 billion, beating the consensus estimate of $24.47 billion, according to Refinitiv. "We believe this was a solid 2Q report with Tesla taking market share and slightly exceeding our automotive non-GAAP margin estimate (and beating in Energy/Services)," Delaney said Wednesday. "However, we believe there could continue to be margin headwinds in the intermediate term if Tesla lowers prices to support higher volumes." "Ultimately, the weaker gross margin highlighted the impact of TSLA's aggressive price cutting and, at 9.6%, its operating margin is now approaching the level of incumbent original equipment manufacturers (OEMs)," he added.
Persons: That's, Elon Musk, Tesla, Goldman Sachs, Mark Delaney, Tesla's, Delaney, Bank of America's John Murphy, Murphy, Morgan Stanley's Adam Jonas, Jonas, — CNBC's Michael Bloom, Lora Kolodny Organizations: Wall Street, Tesla, Energy, Services, Bank of America's
Freya Williams was a CEO and her family's breadwinner before contracting long COVID. Her husband dove into his small business and landed an investment from Mark Cuban of "Shark Tank." But COVID led to "long COVID" for her. Thousands of Americans have likely left the workforce because of long COVID, and Williams is among them. Delaney added that his wife's suffering and his family's precarious position had changed his drive as a business owner.
A Mercedes-Benz van retrofitted with different types of lidar systems, including Luminar's Iris, to showcase the differences in the technologies. Lidar maker Luminar Technologies , stung by a recent Wall Street downgrade, is responding in an unusual way: taking its case directly to the shareholders. "We continue to see Luminar as one of a handful of leaders in the very competitive lidar industry," Delaney wrote. "'Premium pricing' isn't a theoretical concept we are forecasting, but an achievement we have already made in our major customer contracts," Fennimore wrote in the shareholder letter. And the second point Fennimore says Goldman missed: The time frame Delaney chose to compare Luminar's valuation against those of its rivals.
Luminar Technologies shares are too expensive at current valuations and could fall 35%, Goldman Sachs said. Luminar shares outperformed this year as investors moved back into riskier assets. However, the analyst says Luminar shares now have downside after that run-up. Delaney's $5 price target means shares could fall 35% from Tuesday's close. Luminar shares were down more than 8% in Wednesday premarket trading.
As investors become increasingly focused on the shift to electric vehicles, Goldman Sachs has a list of stocks aligning with automotive technology trends. With this in mind, Delaney laid out his top picks for the industry, ranging from electric vehicle makers to component suppliers. But softer anticipated supply and demand prompted Delaney to lower the price target to $235 from $305. GM said in November it expects profits from electric vehicles to be around equal to gas vehicles by 2025 , which would put the legacy automaker multiple years ahead of its previously set schedule. Last month, Morgan Stanley downgraded the stock to equal weight from overweight due to impacts from a slower rollout of electric vehicles.
A former Meta, Slack, and Google sales director is joining SoftBank-backed carbon accounting startup Plan A.Neil Delaney, who is joining the startup as chief revenue officer, left Meta in pursuit of "ikigai." Former Google director Neil Delaney describes himself as personable; he enjoys learning and has a natural interest in people. He was working as the interim global sales director at Meta when something else caught his eye: climate tech. With 15 years in Big Tech under his belt, Delaney has now joined Berlin-based carbon accounting company Plan A as its chief revenue officer. The next wave of tech unicorns is expected to be in climate tech, and Delaney sees Plan A as one of them as long as it "executes well."
AdvertisementA fascinating map from Long Island University's Robert Delaney highlighted by Reid Wilson at The Washington Post shows that the divisions are even more complicated than you might think. He highlights 24 different distinctive dialects. These aren't just accents, but genuinely distinct ways of speaking beyond just the way words sound. Some original Hudson Valley words are stoop (small porch) and teeter-totter. The name comes either from the Gola tribe in Liberia or the Ngola tribe in Angola.
Persons: Cooter Brown, Robert Delaney, Reid Wilson, Delaney, Deutsch, Porgy, Bess, Twi, Vai, Temne Organizations: The Washington Post, Pennsylvania Dutch, Virginia Piedmont, UH Locations: America, Long, Alaska, Hawaii, Hudson, New York, Dutch, olycooks . Pennsylvania, Pennsylvania, Georgia, South Carolina, Gola, Liberia, Angola
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