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☆ Tesla's US market share grows through the EV carnage
▼ + stars: | 2024-04-17 | by ( Alistair Barr | ) www.businessinsider.com time to read: +2 min

Tesla's US electric vehicle market share has grown to 51.3%, despite numerous challenges. Tesla's US market share actually grew in the first quarter. Related storySince the end of September, Tesla's share of the US EV market has grown by 1.3 percentage points to 51.3%. The next closest rival is Ford, with a meager 7.4% market share. These stats say more about the general sorry state of the US EV market.

Persons: Elon, —, Tesla, Elon Musk, Cox Automotive's Kelley, Tesla's, That's Organizations: Service, Cox, US, Hyundai, VW, BMW, Ford, Rivian Locations: Polestar, China

☆ Hertz CEO out following electric car ‘horror show’
▼ + stars: | 2024-03-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —Trouble and turmoil continue at rental car company Hertz. But the problem for Hertz wasn’t necessarily that the cars were electric, and customers simply do not want to drive electric cars. There might not be a charging station, or enough time, for a rental car customer to charge an EV, Ives said. These cases sometimes resulted in Hertz customers being arrested and even imprisoned. Scherr wasn’t the one who decided to make the big bet on EV demand by rental car customers.

Persons: Stephen Scherr, Goldman Sachs, He’ll, Gil West, Hertz, EVs, Tesla, ”, Daniel Ives, Ives, ” Ives, Scherr, Mark Fields, Ford, Paul Stone, Stone Organizations: New, New York CNN, Hertz, Delta Air Lines, General Motors, American, Wedbush Securities, EV, Volvo, Avis Budget Group, Tesla, Avis Budget, Enterprise Locations: New York, EVs, Tesla, Polestar

☆ The Apple car is the latest casualty in the brutal EV market
▼ + stars: | 2024-02-28 | by ( Hayley Peterson | Nora Naughton | ) www.businessinsider.com time to read: +2 min

Read previewThe Apple car is dead (apparently). The scrapped plans would be a grim sign for the EV market in the US, which has suffered from flagging demand. As BI reported earlier this month, car companies are rethinking EV plans in response to softening demand for pure electric cars. Apple's "Project Titan" car was also supposed to be an autonomous, expensive technology that most car companies have already put on the back burner. Automakers shift EV plansLike Apple, US auto companies have been shifting plans to account for softer EV demand.

Persons: —, Apple's, BYD, We're, Stella Li, Li, Mary Barra, Elon Musk's Tesla, Musk, Harald Wilhelm, Mercedes Organizations: Service, EV, Apple, Bloomberg, Business, Yahoo Finance, General, Volvo, Polestar, Benz Locations: North America

☆ The Apple car's apparent death is another grim sign for EVs
▼ + stars: | 2024-02-28 | by ( Hayley Peterson | Nora Naughton | ) www.businessinsider.com time to read: +3 min

Apple appears to be tapping out as car companies scramble to adjust EV plans. AdvertisementThe Apple car is dead (apparently). The scrapped plans would be a grim sign for the EV market in the US, which has suffered from flagging demand. As BI reported earlier this month, car companies are rethinking EV plans in response to softening demand for pure electric cars. Automakers shift EV plansLike Apple, US auto companies have been shifting plans to account for softer EV demand.

Persons: —, Apple's, BYD, We're, Stella Li, Li, Mary Barra, Elon Musk's Tesla, Musk, Harald Wilhelm, Mercedes Organizations: Apple, Service, EV, Bloomberg, Yahoo Finance, General, Volvo, Polestar, Benz Locations: North America

☆ Fed's favorite inflation gauge looms next week — plus, what we want from 2 portfolio earnings reports
▼ + stars: | 2024-02-24 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Wall Street returned to its winning ways this week — and Nvidia 's blowout earnings report Wednesday night was a big reason why. Twenty-six of our 32 portfolio stocks have delivered their results this earnings season (we didn't own Abbott Labs at the time of its report). It was a muted week for macroeconomic data, but we did get a slightly better-than-expected January existing home sales report on Thursday. In the week ahead, two more Club names are set to report earnings before a market-moving economic update arrives Thursday morning. The two other reports of note are the January new home sales report on Monday and ISM Manufacturing report on Friday.

Persons: Dow, we'll, bode, We're, Li Auto, Krystal, Arcutis, MARA, Iovance, Goldman Sachs BDC, CRON, BUD, Papa, LEV, Ginkgo, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nvidia, Nasdaq, Dow Jones, Dow, Palo Alto Networks, Bausch Health, Coterra Energy, Abbott, Companies, TJX, Marshalls, TJX Companies, Berkshire Hathaway, Krystal Biotech, Alpha Metallurgical Resources , Inc, Fidelity National Information Services Inc, Animal Health, ELAN, Public Service Enterprise Group, Surgery Partners, BioCryst Pharmaceuticals Inc, Outdoor Holdings, Enlight Renewable Energy Ltd, Kosmos Energy, Playtika, Video Communications, TiRobot Corp, IRB, SBAC Communications Corporation, HEICO Corporation, FS KKR, Archer Aviation Inc, TransMedics, Sterling Construction Company, AES, Cruise Line Holdings, Lowe's Companies, American Electric Power Company, Bank of Nova, APLS Pharmaceuticals, Bank of Montreal, BMO, Devon Energy, Solar Inc, Technologies, Lab, Virgin Galactic Holdings, Splunk Inc, eBay, EBAY, Luminar Technologies, Agilent Technologies, G Foods, Masimo Corp, Baidu, Parts Inc, Icahn Enterprises, Viatris Inc, ACM Research, Golden Ocean Group, EMCOR, Industries, NRG Energy, Dycom, Editas, UWM Holdings Corporation, Vistra Energy, Marathon Digital Holdings, AMC Entertainment Holdings, Paramount Global, IonQ Inc, International, HP, Monster Beverage Corporation, Cronos, Birkenstock Holding, Anheuser, Busch InBev, Body, Brink's Company, Flags Inc, Papa John's, ACI, Hormel, Lion Electric Company, BlackRock TCP, Dole plc, DOLE, Fisker Inc, Dell Technologies, Ginkgo Bioworks Holdings, Autodesk, Green Brick Partners, Hewlett Packard Enterprise, Veeva Systems, INTTEST Corporation, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: New York City, U.S, Salesforce, Maxx, Bank of Nova Scotia, BlackRock, Cayman

☆ Volvo falls 5% after it sets out to dilute stake in electric vehicle automaker Polestar
▼ + stars: | 2024-02-23 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

A Polestar Roadster concept electric vehicle during the Singapore Motorshow in Singapore, on Thursday, Jan. 11, 2024. Photographer: Lionel Ng/Bloomberg via Getty ImagesShares of Volvo Cars dipped on Friday, after the company said it would dilute its stake in electric vehicle maker Polestar by distributing 62.7% of its holdings to its shareholders. If approved during the company's annual general meeting of March 2024, Volvo would retain around 18% of Polestar's shares. The announcement comes after the company said earlier this month that it would stop funding ailing brand Polestar and is considering adjusting its holdings in the electrical vehicle maker. Rowan at the time said that the changes were part of a "natural evolution" in the relationship between the automakers.

Persons: Lionel Ng, Polestar, Jim Rowan, Rowan Organizations: Bloomberg, Getty, Volvo Locations: Singapore, Jan, London, Polestar

☆ Polestar's CEO just hinted at a looming problem in the EV market: Tanking used values
▼ + stars: | 2024-02-06 | by ( Nora Naughton | ) www.businessinsider.com time to read: +1 min

Polestar agreed to let Hertz out of a deal to buy its cars for now. Stipulations in the agreement protect Polestar's resale values. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOne piece of a new agreement to pause sales to Hertz by EV-maker Polestar hints at a larger concern in the electric-car market. As Hertz sheds a third of its electric-car lineup , executives are beginning to worry the deluge of used EVs could tank resale values.

Persons: Polestar, Hertz, —, Thomas Ingenlath Organizations: Service, Hertz, EV, Financial Times

☆ Hertz halts plan to buy 65,000 electric cars amid EV slump
▼ + stars: | 2024-02-06 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

The rental car giant is pausing plans to buy 65,000 electric cars from EV pioneer Polestar, according to comments made by Polestar CEO Thomas Ingenlath in an interview with The Financial Times . Hertz's estimated $3 billion agreement with up-and-coming EV maker Polestar in 2022 was seen as a major moment for electric vehicle adoption. AdvertisementIt came after Hertz struck a similar deal with Tesla and agreed to buy 100,000 of its EVs in 2021. However, since then the global EV market has stalled , with demand for electric cars slumping and major automakers rolling back some of their investments . AdvertisementThe company said in January it plans to sell 20,000 EVs from its fleet , including Teslas, Chevrolet Bolts, and Volvos.

Persons: Hertz, Thomas Ingenlath, Tesla, Elon, Ingenlath, Stephen Scherr, Polestar, Mary Barra Organizations: Financial Times, Polestar, Hertz, Teslas, Chevrolet Bolts, Volvo, Swedish, General Motors, Business

☆ Volvo shares jump 24% on higher sales, plans to stop Polestar funding
▼ + stars: | 2024-02-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Volvo Cars shares surged more than 24% Thursday after the Swedish automaker announced that it will stop funding subsidiary Polestar Automotive. Volvo earlier in the day reported a 10% year-on-year increase in fourth-quarter net sales to 148.1 billion Swedish krona ($14.16 billion), bringing its full-year 2023 total to 552.8 billion krona. Adjusted operating income jumped to 18.38 million krona from 12.17 million for the same period in 2022. The group announced that it may hand stewardship of ailing luxury car brand Polestar over to majority Volvo shareholder Geely Holding . "We are therefore evaluating a potential adjustment to Volvo Cars' shareholding in Polestar, including a distribution of shares to Volvo Cars' shareholders.

Organizations: Volvo, Volvo Cars, Polestar Automotive, Geely, Geely Sweden Holdings Locations: Seoul, South Korea, Swedish, Polestar, Geely Sweden

☆ Volvo Cars CEO: Stopping Polestar funding is a 'natural evolution'
▼ + stars: | 2024-02-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVolvo Cars CEO: Stopping Polestar funding is a 'natural evolution'Volvo Cars CEO Jim Rowan discusses fourth-quarter earnings and the company's decision to stop funding Polestar Automotive.

Persons: Jim Rowan Organizations: Volvo, Polestar Automotive

☆ Here are Wednesday's biggest analyst calls: Apple, Netflix, Nvidia, Uber, Tesla, Microsoft, Amazon & more
▼ + stars: | 2024-01-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: Citi reiterates Chipotle as buy Citi raised its price target on Chipotle to $2,699 per share from $2,292. "We are launching coverage of NKLA with an Outperform rating and a $2 price target." Polestar : On a Road to Nowhere - Initiating Coverage with a target price of $1.15, Underperform." Citi upgrades Sunoco to buy from neutral Citi said the oil and gas company is "compelling." Citi reiterates Microsoft as buy Citi raised its price target on the stock to $470 per share from $432 and said "ramping GenAI should keep growth accelerating."

Persons: Chipotle, Daiwa, Wells, Morgan Stanley, it's, Baird, Nikola, Bernstein, Biogen, Webster, Redburn, Tesla, Apple, Morgan Stanley downgrades PagerDuty, Gordon Haskett downgrades Uber, Gordon Haskett, Oppenheimer, PulteGroup, Wolfe Organizations: Citi, Verizon, Netflix, Amazon, EV, Devices, AMD, UBS, Apple, Uber, Deutsche Bank, Deutsche, Barclays downgrades, Barclays, Microsoft, BMO, HSBC, Stellantis, Entertainment, Nvidia, Wolfe Alpha, Valero, Phillips Locations: H1'24, Nowhere, China

☆ Why China poses a growing threat to the U.S. auto industry
▼ + stars: | 2024-01-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Tesla CEO Elon Musk, whose company operates a large plant in China, has said Chinese automakers are the greatest competitors for his Texas-based company. "They were 26% [market share] a few years ago, up to more than 50% in 2022 and headed towards two-thirds by the end of the decade." Chinese companies have begun expanding into Mexico, Europe and elsewhere, Wakefield said. The EU believes Chinese EVs are undercutting the prices of local models by about 20% in the European market. The influx of Chinese EVs has spurred the European Union to launch into government support for the industry.

Persons: —, Carlos Tavares, Elon Musk, Tesla, Musk, BYD, Massimo Pinca, Reuters BYD, Kristin Dziczek, Mathew Vachaparampil, Bernstein, Eunice Lee, Mark Wakefield, Evelyn Cheng, hasn't, Wakefield, That's Organizations: GM, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, DETROIT, American, of, SAIC, Dongfeng, General Motors, U.S . Bureau, Analysis, America —, Chrysler, America's GM, Ford Motor, automakers, The New York Times, Economist, Reuters, Federal Reserve Bank of Chicago's, Caresoft, Overseas, Chicago, CNBC, European Union, EU, Union, Volvo, Karma, Ford, U.S, Buick, Lincoln Nautilus Locations: Shanghai, U.S, of China, Asia, Europe, China, Japan, Nio, Mexico, Korea, Germany, Beijing, Texas, Turin, Italy, Federal Reserve Bank of Chicago's Detroit, AlixPartners, Russia, America

☆ Polestar Finance Chief Malmqvist Exits EV Startup
▼ + stars: | 2024-01-13 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

Polestar has been grappling with soft sales of its electric vehicles. Photo: Justin Sullivan/Getty ImagesPolestar Chief Financial Officer Johan Malmqvist has departed the Swedish electric-vehicle startup, which recently received new financing from Volvo, its main backer. Malmqvist has served as financial chief since 2021. He previously served as finance chief of Dole, the food company.

Persons: Polestar, Justin Sullivan, Johan Malmqvist, Malmqvist, Dole Organizations: Volvo Locations: Swedish

☆ Hyundai, Kia see strong demand for EVs, despite rivals' concerns
▼ + stars: | 2023-11-17 | by ( Abhirup Roy | ) www.reuters.com time to read: +4 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLOS ANGELES, Nov 17 (Reuters) - Hyundai Motor (005380.KS) and Kia (000270.KS) see strong U.S. demand for electric vehicles (EVs), senior executives at the South Korean automakers told Reuters ahead of the Los Angeles Auto Show. The comments run against industry fears that inflation and higher interest rates will undermine the boom in EV sales. Inflation and high interest rates have raised the costs of buying a car. The cuts helped drive EV sales in the third quarter up 50% from a year earlier to a record of more than 300,000 vehicles. Reporting by Abhirup Roy in Los Angeles; Editing by Peter Henderson and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Jose Munoz, Hyundai's, Munoz, Steven Center, we'll, Elon Musk, Spencer Imel, Langston, Subaru's, Atsushi Osaki, Abhirup Roy, Peter Henderson, Matthew Lewis Organizations: Hyundai Kona, New York, REUTERS, Hyundai, Kia, South Korean, Los Angeles Auto, Tesla, Ford Motor, EV, Kia America, Cox Automotive, General Motors, Ford, Langston Co, Reuters, Thomson Locations: Manhattan , New York City, U.S, KS, Los Angeles, Savannah ( Georgia, United States, Swedish

☆ Swedish EV maker Polestar trims delivery forecast, halves margin target
▼ + stars: | 2023-11-09 | by ( Abhirup Roy | ) www.reuters.com time to read: +3 min

Nov 8 (Reuters) - Swedish electric vehicle maker Polestar trimmed its 2023 delivery forecast on Wednesday to the lower end of its earlier guidance and halved its gross margin target, amid fears of a slowdown in EV demand and global economic uncertainty. Polestar, which operates in 27 markets globally, said it would now deliver about 60,000 vehicles this year, down from between 60,000 to 70,000. It had reiterated that forecast just last month after slashing the target in May from the 80,000 it had estimated earlier. The U.S.-listed company, founded by China's Geely and Volvo Cars (VOLCARb.ST), also said it would achieve a gross margin of 2% in 2023, down from its prior 4% forecast. The company said it sees gross margin in the high teens with a total annual volume of about 155,000 to 165,000 vehicles in 2025.

Persons: China's Geely, Johan Malmqvist, Thomas Ingenlath, Tesla's, Elon Musk, Polestar, Abhirup Roy, Rod Nickel, Jamie Freed Organizations: Volvo, Reuters, General Motors, Ford, Revenue, Thomson Locations: Swedish, U.S, San Francisco

☆ SiriusXM is targeting younger customers with new app and streaming plan
▼ + stars: | 2023-11-09 | by ( Drew Richardson | ) www.cnbc.com time to read: +4 min

SiriusXM announced Wednesday that it will launch a revamped app and a newly priced streaming plan as it pushes to attract younger customers. SiriusXM has shed subscribers recently, as it reported a loss of 94,000 satellite radio subscribers in the third quarter. The company is also simplifying its pricing structure, offering its new Streaming All Access Plan for $9.99 a month, a dollar cheaper than its current all-inclusive streaming plan. The cheaper price tag is another bid to attract millennial and younger customers, who may already pay for another streaming service. Select-model 2024 Polestar vehicles will come equipped with SiriusXM 360L technology, which combines satellite and streaming features, the company announced Wednesday.

Persons: Scott Greenstein, Kevin Hart, Ashley Flowers, Kelly Clarkson, SiriusXM, Jennifer Witz, Howard Stern, Conan O'Brien, Andy Cohen, Joe Inzerillo, Morgan Stanley, Dolly Parton, John Mayer, Witz Organizations: NEW, Industry, Tisch, Apple, Sirius, Technology, CNBC, SiriusXM Locations: New York City

☆ Polestar the first EV maker to incorporate StoreDot's fast-charging batteries
▼ + stars: | 2023-11-09 | by ( Steven Scheer | ) www.reuters.com time to read: +2 min

Under the terms of the deal the two companies will collaborate on incorporating the fast-charging technology into Polestar vehicles. A prototype will be demonstrated next year, and StoreDot said it hopes Polestar cars using its extreme fast-charging batteries will be on the road by 2027. Polestar CEO Thomas Ingenlath said the collaboration with StoreDot would give EV owners "the ability to recharge in minutes". "What used to be range anxiety in electric vehicles is now transforming to charging anxiety," StoreDot CEO Doron Myersdorf said. Polestar last month said deliveries of electric vehicles (EV) rose 50% in the third quarter from a year earlier but fell 12% from the second quarter.

Persons: Thomas Peter, StoreDot, Thomas Ingenlath, Doron Myersdorf, Myersdorf, Polestar, Steven Scheer, Jan Harvey Organizations: Beijing International Automotive, Auto, REUTERS, Rights, Volvo, BP, Daimler, StoreDot, EV, Reuters, Thomson Locations: Auto China, Beijing, China, Swedish

☆ Polestar cuts its guidance as it retools its business plan for lower EV sales, higher profits
▼ + stars: | 2023-11-08 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +3 min

At the time of its initial public offering last year, Polestar was targeting annual sales of about 290,000 vehicles by the end of 2025. For 2023, Polestar now expects to deliver "approximately 60,000" vehicles, at the low end of its previous guidance range, with a positive gross margin of about 2%. The company had previously guided to deliveries of between 60,000 and 70,000 vehicles in 2023, with a gross margin of 4% for the year. Polestar's gross margin was 1.1% in the first nine months of 2023 and 4.9% in 2022. Production of the Polestar 4, a smaller crossover SUV, will begin in China next week as planned, the company said.

Persons: Polestar, Thomas Ingenlath, Volvo — Organizations: Shanghai International Automobile Industry, National Exhibition, Convention Center, Geely Automobile, Geely, Volvo, Revenue Locations: Shanghai, China, Swedish, United States

☆ Polestar signs deal with South Korea's SK On for Polestar 5 EV
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: 1 min

The logo of the new Volvo Polestar 2 is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Pierre Albouy/File Photo Acquire Licensing RightsNov 6 (Reuters) - Electric vehicle maker Polestar (A4N1y.F) said on Monday that it had signed an agreement with South Korean battery manufacturer SK On for the supply of battery cell modules for its upcoming Polestar 5 EV. Reporting by Gokul Pisharody in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Pierre Albouy, Gokul, Sonia Cheema Organizations: Volvo, 89th Geneva, REUTERS, South Korean, SK, Thomson Locations: Geneva, Switzerland, Bengaluru

☆ These 4 stocks report quarterly results next week. Here's what we hope to see
▼ + stars: | 2023-11-04 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Here's the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)

Persons: FactSet, we'll, Hulu —, Krystal, Horton, Zimmer, LEV, Armour, Ralph Lauren Corporation, CRON, Patterson, Walt Disney, MARA, Ginkgo, FREYR Battery, FREY, Arcelor Mittal, Wynn, Jim Cramer's, Jim Cramer, Jim Organizations: Dow Jones, Nasdaq, ISM, Services, Coterra Energy, Emerson Electric, Wall, National Instruments, Disney, Hulu, CNBC, Comcast, ESPN —, Wynn Resorts, WYNN, Asia that's, Wynn, Wynn's, Wynn Interactive, United, Brookfield Asset Management, Axsome Therapeutics, Network Corporation, Krystal Biotech, Ceragon Networks, Kosmos Energy Ltd, TreeHouse Foods Inc, Air Lease Corporation, Inc, Eversource Energy, Fennec Pharmaceuticals Inc, Graham Corporation, Aereas Inteligentes, Hilton, Energy, Realty Income Corp, Semiconductors, Vertex Pharmaceuticals Inc, Clover Health, Contura Energy, Diamondback Energy, FS KKR Capital Corp, Celanese Corp, Eos Energy Enterprises, Goodyear Tire & Rubber Company, WEN, Pall Corp, TransMedics, Emerson, Uber Technologies, Holdings, Melco Resorts, Entertainment, Zimmer Biomet Holdings, ACM Research, Lion Electric Company, Emerson Electric Co, Vertex Energy, Waters Corp, Air Products & Chemicals, Esperion Therapeutics, Fidelity National Information Services Inc, Bowlero Corp, Hotels, KKR, Co, Devon Energy Corp, Occidental Petroleum Corp, Dutch Bros Inc, Gilead Sciences, ContextLogic Inc, Akamai Technologies, Viatris Inc, Technologies, Corsair, Enovix Corporation, eBay, EBAY, DaVita Inc, Pan American Silver Corp, Roblox Corporation, Fisker Inc, Warner Bros ., Nuvei Corporation, Farms, Akebia Therapeutics, Biogen Inc, 3D Systems Corporation, Gray Television Inc, BlackSky Technology Inc, Cronos, EVgo Inc, Lumentum Holdings Inc, Nexstar Media Group, UTI Energy, Starwood Property Trust, AMC Entertainment Holdings, Marathon Digital Holdings, IonQ Inc, Digital Turbine, Virgin Galactic Holdings , Inc, Arm Holdings plc, ARM, Ginkgo Bioworks Holdings, Suncor Energy, AppLovin Corporation, B2Gold Corp, Luminar Technologies, MGM Resorts International, MGM, Bloom Energy Corporation, Li Auto Inc, Oatly, Kopin Corp, Fiverr International, YETI Holdings, YPF S.A, Ship Lease, Himax Technologies Inc, Dickinson, CommScope Holding, RBC, Agile Therapeutics, Apyx Medical Corporation, Grab Holdings, Hawaiian Electric Industries, Profire Energy, Flags Inc, Stereotaxis Inc, TransDigm, US Foods Holding Corp, Utz Brands, Valvoline Inc, Weibo Corporation, Wix.com Ltd, Trade, Petroleo Brasileiro SA Petrobras, Growth, Aurora Cannabis Inc, Navitas Semiconductor Corp, Archer Aviation Inc, Semiconductor, Energy Fuels Corp, Illumina Inc, Spike Investment Corp, Algonquin Power & Utilities Corp, AngloGold, Central Puerto S.A, Hudson Global, AirSculpt Technologies, Partners, Soho House, Jim Cramer's Charitable, Handout, Getty Locations: U.S, Macao, Asia, China, Las, Singapore, Wynn's Vegas, Boston, United Arab Emirates, Gilead, VVV, Central, Soho

☆ Climate tech is like catnip to investors. Here's why the $13 billion sector is outperforming other industries.
▼ + stars: | 2023-11-02 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +7 min

Europe's startup ecosystem has been battered this year but climate tech founders have managed to avoid the brunt of the immense downturn so far. PwC's global analysis of the sector also points to climate tech outperforming the norm, accounting for a tenth of private market investments in 2023. Venture capital investment into European startups more broadly is primed to slump by around 46% to 58.1 billion euros in 2023. These obligations have helped make climate tech startups "catnip to investors," Sustainable Ventures' Stuart Ferguson said. Last year, European companies like electric vehicle manufacturer Polestar and batter-maker Northvolt raised 1.6 billion euros and 1 billion euros respectively.

Persons: They've, Stuart Ferguson, Fabian Heilemann, Heilemann, Biden's, Warner, Namratha, Mark Bula, Northvolt, Lisa Barclay, Ferguson, Aenu's Organizations: Steel, Venture, Sustainable Ventures, Warner, Ada Ventures, Elyos Energy, Green Steel, Nesta, Investments Locations: Swedish, British, Norwegian, London, Norway

☆ Here are Wednesday's biggest analyst calls: Apple, Meta, Boeing, AMD, Carvana, Ford, Robinhood & more
▼ + stars: | 2023-11-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are the biggest calls on Wall Street on Wednesday: UBS reiterates Advanced Micro Devices as buy UBS said it's standing by its buy rating on the chipmaker after its earnings report on Tuesday. Goldman Sachs downgrades ZoomInfo Technologies as buy Goldman downgraded the stock after its "mixed" earnings report citing lower visibility. UBS upgrades JD.com to buy from neutral UBS said shares of the Chinese retailer are attractive. " UBS reiterates Apple as neutral UBS said its checks show Apple's iPhone wait times are lower. TD Cowen reiterates Carvana as market perform TD said it's cautious heading into the used car company's earnings report on Thursday.

Persons: it's, TD Cowen, Piper Sandler, Piper, Polestar, Goldman Sachs, Goldman, Morgan Stanley, Bernstein, Price, Cantor Fitzgerald, VinFast, Cantor, it's bullish, JD, Mizuho, Robinhood, HOOD, Carvana Organizations: UBS, Devices, EV, Technologies, Bank of America, of America, UAW, Barclays, Ford, General Motors, Meta, JPMorgan, Boeing, Goldman, NRG Energy, Guggenheim, Management, Clear Messaging, Deutsche Bank, Deutsche, Apple, BP, UW Locations: Asia, Europe, North America

One of them said that the cut off point could be closer to 6 billion euros ($6.33 billion). Some analysts had already questioned Renault's hoped-for valuation of up to 10 billion euros, with some suggesting the carmaker should pursue alternative options to raise cash. De Meo said in September that the listing could value Ampere at between 8 and 10 billion euros, above the French carmaker's own current market capitalisation of 9.55 billion euros. Other EV makers have seen their market value fall sharply in recent months. The Ampere IPO would include a mix of Renault's shares and new shares and could happen as early as April 2024, one of the people said, depending on market conditions.

Persons: Gonzalo Fuentes, Ampere, France's, Tesla, Renault's, Luca de Meo, China's Geely, IPOs, De Meo, Bernstein, de Meo, Elon Musk's Tesla, Mathieu Rosemain, Silvia Aloisi, Pablo Mayo Cerqueiro, Gilles Guillaume, Anousha Sakoui, Alexander Smith Organizations: Renault, Viva Technology, Porte de, REUTERS, Reuters, DKV Mobility, HK, Saudi Arabia's Aramco, Nissan, IPOs Renault, EV, Commission, UBS, Barclays, Ampere, Mitsubishi, Thomson Locations: Porte, Paris, France, LONDON, China, Saudi, Europe, Ampere, Elon

☆ Hertz's embrace of Teslas isn't going so well
▼ + stars: | 2023-10-28 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

Hertz had initially aimed to make 25% of its fleet electric by the end of 2024. Today, 11% of Hertz's cars are electric, and 80% of those are Teslas. AdvertisementAdvertisementIn 2021, Hertz started going all-in on EVs, announcing a plan to buy 100,000 Teslas as part of an effort to give customers electric options. Add it all up, and Hertz's third-quarter profits would have been "several margin points higher" if its fleet was similarly sized but didn't include EVs, Scherr said. This year, electric cars have been languishing on dealer lots, forcing automakers to cut prices and lather on other incentives.

Persons: Hertz, EVs, —, Stephen Scherr, Scherr, it's, Elon Musk, Tesla, General Motors — Organizations: Service, General Motors, EV, Manufacturers, Ford, General, EVs Locations: EVs

☆ Mobileye cuts annual revenue forecast as automakers look to ease production
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

The listing of Mobileye Global Inc., the self-driving unit of chip maker Intel Corp, is seen at the Nasdaq MarketSite, at Times Square in New York City, U.S., October 26, 2022. REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsOct 26 (Reuters) - Mobileye Global (MBLY.O) lowered the upper end of its annual revenue forecast on Thursday, in a sign that slowing electric-vehicle production is likely to weigh on demand for its driver-assistance technology. Automakers such as Tesla (TSLA.O), General Motors (GM.N) and Ford (F.N) have turned cautious about expanding their EV production capacity amid risks of a slowdown in demand due to higher borrowing costs and growing economic uncertainties. This, in turn, may hurt Mobileye, a supplier for EV makers such as Polestar . The Israel-based firm expects full-year revenue to be between $2.07 billion and $2.09 billion, compared with its earlier forecast of $2.07 billion to $2.11 billion.

Persons: Shannon Stapleton, Mobileye, Arsheeya, Shilpi Majumdar Organizations: Mobileye Global Inc, Intel Corp, Nasdaq, Times, REUTERS, General Motors, Ford, EV, Volkswagen, Porsche, Thomson Locations: New York City, U.S, Israel, Bengaluru

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