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Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center in New York City, Nov. 29, 2023. Tesla shares surged 15% on Wednesday morning after CEO Elon Musk said the electric-vehicle company plans to begin production of new affordable EV models by early 2025. Musk's comments came during Tesla's earnings call on Tuesday after the company reported disappointing first-quarter numbers. The company previously expected to start production of the new EV models in the second half of 2025. UBS analysts on Tuesday reiterated their neutral rating of Tesla stock and lowered their price target to $147 from $160, saying they remain skeptical of the company's talk.
Persons: Elon Musk, Tesla, Musk's, Tesla's, Michael Bloom Organizations: New York Times, Jazz, Lincoln Center, Revenue, Bank of America, UBS Locations: New York City
Tesla shares fell for a seventh straight day, reaching their lowest since January 2023, as further price cuts over the weekend added to mounting concerns heading into the company's first-quarter earnings report Tuesday. Tesla also lowered the price of its premium driver assistance system by one-third. The price cut follows a monthlong free trial that Tesla pushed out to customers throughout North America starting in late March. "Since late 2023, sentiment on Tesla (TSLA) has deteriorated," John Murphy, an analyst at Bank of America, wrote in a note on Monday. WATCH: Tesla stock hits 52-week low ahead of earnings
Persons: Elon Musk, Tesla, John Murphy, Murphy, Joseph Spak, Spak, — CNBC's Michael Bloom Organizations: New York Times, Jazz, Lincoln Center, North America, National, Traffic Safety Administration, CNBC, Bank of America, Reuters, UBS, EV, Traders, S3 Partners, Apple Locations: New York City, U.S, China, Europe
The billionaire said Trump "will tell you his snake oil will cure everything that ails you." I'm voting for Biden/Harris over Trump all day every day," Cuban told Axios on Tuesday. Cuban told Axios that when it came to Trump and Biden, it was a match-up between "the snake oil salesperson vs the incumbent, traditional politician." Musk mocked Cuban on Monday and said Cuban would vote for Biden even if the president "were a flesh-eating zombie." He can do what he wants," Cuban said when asked about the reported meeting between Musk and Trump.
Persons: Mark Cuban, Joe Biden, Donald Trump, Trump, Biden, Cuban, , Harris, Axios, Joe Biden's, he'd, Cuban's Biden, Elon, Musk, didn't, Biden's, Tesla, I'm, Andrew Ross Sorkin Organizations: Service, Biden, Trump, Cuban, Bloomberg, Elon Musk, The New York Times DealBook Summit, The Times, Musk, GOP, Republicans Locations: Florida
Jensen Huang speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City. Nvidia briefly surpassed $2 trillion in market cap during intraday trading Friday as its stock continues to rally following the company's rosy earnings report Wednesday. Shares of Nvidia rose more than 2% Friday morning after closing up 16% Thursday. Nvidia reported $12.29 billion in net income during the quarter, up a staggering 769% from $1.41 billion last year. Nvidia makes the pricey graphics processors for the servers that power large AI models.
Persons: Jensen Huang Organizations: New York Times, Jazz, Lincoln Center, Nvidia, LSEG Locations: New York City
Netflix co-founder and executive chairman Reed Hastings has gifted two million shares of his holdings in the streaming giant, according to a regulatory filing, with a current value of more than $1.1 billion. "We don't know what it could be, whether it's a charity or multiple charities," VerityData Vice President Ben Silverman told CNBC. Hastings retains just under three million Netflix shares with a value of around $1.7 billion. Though Hastings remains the executive chairman of Netflix, the company has no obligation to disclose the reason behind the gift or the beneficiary. Netflix shares are up nearly 23% year to date but are still around 16% below their 2021 high.
Persons: Reed Hastings, Hastings, it's, Ben Silverman, VerityData's Silverman, — CNBC's Lora Kolodny Organizations: Netflix, New York Times DealBook, Jazz, Lincoln Center, Bloomberg, CNBC, United Negro College Fund, Hastings, CNBC PRO Locations: New York City
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewFormer Disney CFO Gary Wilson has slammed Bob Iger's approach to succession planning. This story is available exclusively to Business Insider subscribers. Iger's return has been marred by multiple setbacks, with Disney struggling to land hits at the box office last year. Representatives for Iger did not immediately respond to a request for comment from Business Insider sent outside regular business hours.
Persons: , Gary Wilson, Bob Iger's, Iger, Wilson, Bob Chapek, Jay Rasulo, Tom Staggs, Chapek, Iger's, Disney's, Andrew Ross Sorkin Organizations: Service, Disney, Business, Wall Street, Marvel, Marvel Studios, The New York Times, Business Insider
In this article TSLA Follow your favorite stocks CREATE FREE ACCOUNTElon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City. Slaven Vlasic | Getty ImagesElon Musk said Chinese electric automakers will find "significant" success outside of China, even as his firm Tesla faces intense competition from these same companies. "The Chinese car companies are the most competitive car companies in the world. So, I think they will have significant success outside of China depending on what kind of tariffs or trade barriers are established," Musk said on Tesla's earnings call on Wednesday. "Frankly, I think, if there are not trade barriers established, they will pretty much demolish most other companies in the world."
Persons: Elon Musk, Slaven Vlasic, Musk Organizations: New York Times, Jazz, Lincoln Center, Getty Locations: New York City, China
Elon Musk attended a conference held by the European Jewish Association on Monday. "I have twice as many Jewish friends as non-Jewish friends," he told Ben Shapiro. The European Jewish Association organized the trip and held a conference later on Monday in the nearby Polish city of Krakow. Advertisement"I have twice as many Jewish friends as non-Jewish friends," Musk said as Shapiro laughed in the background. AdvertisementFollowing the row with the ADL, Musk described himself as "aspirationally Jewish" to Shapiro in a September X space.
Persons: Elon Musk, Musk, Ben Shapiro, , Shapiro, Tesla, I'm Organizations: European Jewish Association, Service, Defamation League, ADL, Apple, Disney, IBM, New York Times DealBook Summit Locations: Auschwitz, Nazi, Poland, Polish, Krakow, Israel
Tesla is taking the Cybertruck on a tour of China, per a company WeChat post reported by Reuters. However, it's unlikely to be on sale in China soon, with Elon Musk saying it'll be hard to make legal. It comes as Tesla tries to fight off a new wave of competition from Chinese EV makers such as BYD. Elon Musk's company is taking the Cybertruck on a tour of China to show off its futuristic pickup, according to a company post on WeChat reported by Reuters . Elon Musk has previously hinted at the plan, posting on X on Sunday that Tesla could ship some Cybertruck prototypes to China for display.
Persons: Tesla, Elon Musk, , Elon, Frederic J . Brown, Warren Buffett, Xiaomi, Musk Organizations: Reuters, Service, Elon Musk's, Geely, Huawei, New York Times, Business Locations: China, North America, AFP
Executive 2: Bob Iger will, again, extend his contract as Disney CEO Earlier this year, Disney CEO Bob Iger renewed his contract through 2026. This executive predicted "fool me five times, shame on me." This executive predicted Peltz and Rasulo will win their campaign and both join the board. This person predicted Disney would purchase privately held Candle Media to acquire Moonbug Entertainment, the owner of CoComelon. This executive predicted Yaccarino would either lose patience or find her job increasingly pointless and leave the company in 2024.
Persons: Andrew Ross Sorkin, Walt Disney Company Bob Iger, Michael M, David Zaslav, Slaven Vlasic, NBCUniversal, Brian Roberts, Roberts, Donna Langley, Bob Iger, Iger, Nelson Peltz, Jay Rasulo, Marco Bello, Peltz, Rasulo, Disney's, Dana Walden, Dana Walden Jason Laveris, Disney Entertainment Dana Walden, Walden, Bob Chapek, Andrew Wilson, Wilson, Chris Licht wouldn't, McCarthy, Andrew Wilson Michael Newberg, Kevin Mayer, Mayer, Bryan van der Beek, Tom Staggs, Staggs, Jayson Tatum, Kyle Terada, NBCUniversal's Peacock, Alec Martinez, Gray, Discovery's Max, Jeff Zucker, Lady Michelle Obama's, Michelle Obamas, Cheriss, Gerry Cardinale, Jeff Shell, RedBird, Shari Redstone's, David Ellison, Byron Trott, Zucker, Mark Thompson, Linda Yaccarino, X Linda Yaccarino, Vox, Jerod Harris, Yaccarino, CNBC's Julia Boorstin, Boorstin, Elon Musk's, Jason LaVeris, Barbie, Mario, Oppenheimer, LightShed's Greenfield Organizations: Walt Disney Company, New York Times, Santiago, Getty, Jazz, Lincoln Center, Warner Bros ., Comcast, Warner Bros, Discovery, Disney, Trian Fund Management, Future Investment Initiative, Summit, Bloomberg, Filmmagic, Disney Entertainment, Electronic Arts, CNBC, Candle Media, Iger, Media, Moonbug Entertainment, Apple Boston Celtics, Golden State Warriors, USA, National Basketball Association, NBA, Apple, The College, ESPN, College, NHL, MLB, Vegas Golden Knights, Florida Panthers, Mobile, National Hockey League, Diamond Sports Group, Scripps, Gray Television, Las Vegas Golden Knights, Arizona Coyotes, Phoenix Suns, Street Journal, Netflix, Hulu, Max, Paramount, RedBird, Paramount Global, CNN Worldwide, CNN, NurPhoto, BDT, The Ritz, Carlton, FilmMagic, Mario Bros Locations: New York City, Disney, Miami , Florida, Las Vegas , Nevada, Laguna Niguel, Dana Point , California
Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City. X.AI, an artificial intelligence startup founded by Elon Musk, has filed with the SEC to raise up to $1 billion in an equity offering. The AI startup, which Musk announced in July, seeks to "understand the true nature of the universe," according to its website. Last month, X.AI released a chatbot called Grok, which the company says is modeled after "The Hitchhiker's Guide to the Galaxy." — CNBC's Lora Kolodny contributed to this reportWATCH: Elon Musk's X.AI launches 'Grok'
Persons: Elon Musk, Musk, X.AI, didn't, OpenAI, Sam Altman, Google's Bard, Claude chatbot, Tesla, They've, DeepMind's AlphaCode, OpenAI's, — CNBC's Lora Kolodny, Elon Musk's X.AI Organizations: New York Times, Jazz, Lincoln Center, Elon, SEC, Google's, Nvidia, SpaceX, Boring Company, X Corp, DeepMind, Google Research, Microsoft Research, Twitter, Tesla, X.AI Locations: New York City, Nevada
Elon Musk says he didn't find the advertising campaign for Paris Hilton's cookware "super convincing." Musk has been on the warpath with advertisers of late as more companies pull ads from X. AdvertisementIt looks like Elon Musk is training his furor at advertisers on a brand new target — Paris Hilton. Besides advertising her cookware on X, Hilton has also promoted her products on Instagram and TikTok. Representatives for Musk and Hilton did not immediately respond to requests for comment from Business Insider sent outside regular business hours.
Persons: Elon Musk, Musk, , Paris Hilton, Linda Yaccarino, he's, Hilton, hasn't, Hey Bob, Bob Iger Organizations: Service, Disney, IBM, New York Times DealBook, Musk, Business Insider Locations: Paris
“His life has been building the Republican majority and attaining the third-highest office in the land. Many colleagues still consider him a skillful convener of people with institutional knowledge about the workings of a Republican majority he helped build. But his inexperienced successor, Speaker Mike Johnson of Louisiana, has not sought him out for any advice on managing the fractious Republican conference. Mr. McCarthy has labored to acclimate. “After any stressful situation, it takes a while for the body to normalize,” Mr. McHenry said of the former speaker.
Persons: , Patrick T, McHenry, McCarthy’s, , McCarthy, Mike Johnson of, Johnson, Mr Organizations: Republican, Capitol, Oxford Union, New York Times Locations: McHenry of North Carolina, Mike Johnson of Louisiana
Opinion | Elon Musk Is Making a Giant Mistake … Unless?
  + stars: | 2023-12-01 | by ( Peter Coy | ) www.nytimes.com   time to read: +1 min
Elon Musk is so smart that you have to wonder if trashing X, formerly Twitter, is somehow in his best interest. This couldn’t possibly be one giant mistake, could it? Actually I think it is a giant mistake. There is, however, an unlikely scenario where damaging X in the short run might benefit Musk in the long run. He cut more than three-quarters of the staff, including most of those involved in keeping hate speech off the platform, which predictably resulted in more hate speech and fewer advertisers.
Persons: Elon Musk, Organizations: The New York Times DealBook Summit
New York CNN —Walmart confirmed on Friday that it is not advertising on X, the social media platform owned by Elon Musk and formerly known as Twitter. “We aren’t advertising on X as we’ve found other platforms to better reach our customers,” a Walmart spokesperson said in a statement to CNN. A number of prominent brands paused their advertising on X, last month following Musk’s public embrace of an antisemitic conspiracy theory favored by White supremacists. “I don’t want them to advertise,” Musk said at the New York Times DealBook Summit in New York. “If anyone is killing X, it’s Elon Musk – not advertisers,” she said.
Persons: Elon Musk, White supremacists, Joe Benarroch, Musk, dumbest, ” Musk, , didn’t, Craig Atkinson, CNN it’s, Big, they’re, Jasmine Enberg, it’s Elon Musk, , Personally, ” Enberg, Benjamin Netanyahu, Isaac Herzog, Israel “ wasn’t, he’s, – CNN’s Jennifer Korn Organizations: New, New York CNN, Walmart, Elon, CNN, Reuters, New York Times DealBook, Disney, Paramount, Comcast, Lionsgate, Warner Bros, Insider Intelligence, Intelligence, Israeli Locations: New York, Israel
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. SEC Chair Jay Clayton on trusting Elon Musk: At the end of the day, people want to work for himFormer SEC Chairman Jay Clayton joins 'Squawk Box' to discuss Elon Musk's interview at The New York Times DealBook Summit, the role of government regulation, and more.
Persons: Jay Clayton, Elon Musk, Elon Musk's Organizations: SEC, The New York Times DealBook
Elon Musk seems to be trying to sabotage X by telling major advertisers "go fuck yourself." It gives weight to a theory that Musk may be deliberately trying to sink X, formerly Twitter. Those banks have since been trying to sell the debt — which looks increasingly worthless as Musk drives X into the ground. In the meantime, X and Musk must pay millions of dollars in interest to their financiers. "There is no way back, there is no way to reverse the statement Elon made yesterday," said Ruben Schreurs, chief strategy officer at the marketing consultancy Ebiquity, which works with major advertisers.
Persons: Elon Musk, Martin Sorrell, , NBCUniversal, Musk, Linda Yaccarino, Linda, Jerod Harris, Matt Levine, Levine, Lou Paskalis, Musk's, Paskalis, BI's Grace Kay, Kali Hays, it's, Elon, Ruben Schreurs, Yaccarino, didn't Organizations: Service, The New York Times, Apple, Disney, IBM, Bloomberg, Bank of America, AJL, Musk's Twitter, Ebiquity, X
Quantity has diluted quality at Disney, CEO Bob Iger says. "I don't want to apologize for making sequels," he said. AdvertisementDisney CEO Bob Iger delivered a candid critique of his company during an interview at The New York Times DealBook Summit on Wednesday. And quantity, in our case, diluted quality, and Marvel has suffered greatly from that," Iger said. AdvertisementIn November 2022, Iger emerged from retirement to return to Disney as its CEO, a position he had previously held for 15 years.
Persons: Bob Iger, , Iger, they've, Bob Chapek Organizations: Disney, Service, The New York Times, Summit, Marvel Locations: Kingdom, Disney's
"We got to the point where if a film didn't do a billion dollars in global box office, we were disappointed," he said. Iger also blamed Disney putting quantity before quality for its box office misses. In response to questions about the company's box office misses, the CEO said: "I'm not sure another studio will ever achieve some of the numbers that we achieved." Disney can claim 10 of the 20 highest-grossing films, each of which took more than $1 billion at the box office, per IMDb. However, the film's now made $383 million globally, per Box Office Mojo.
Persons: Bob Iger, Iger, , That's, Indiana Jones, Bob Chapek, Iger's Organizations: Disney, Service, The New York Times, Summit, Netflix
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKevin McCarthy is probably the most political person I've ever met or covered, says Jake ShermanJake Sherman, Punchbowl News co-founder, joins 'Squawk Box' to discuss former House Speaker Rep. Kevin McCarthy's interview at The New York Times DealBook Summit, the state of the 2024 presidential race, issue around President Biden's age, and more.
Persons: Kevin McCarthy, I've, Jake Sherman Jake Sherman, Kevin McCarthy's, Biden's Organizations: Punchbowl News, The New York Times DealBook
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer on Elon Musk: An unfiltered person who answers to absolutely no oneCNBC’s Carl Quintanilla, Jim Cramer and David Faber discuss Elon Musk's interview at The New York Times DealBook Summit.
Persons: Jim Cramer, Elon, Carl Quintanilla, David Faber, Elon Musk's Organizations: The New York Times DealBook
JPMorgan Chase CEO Jamie Dimon says he isn't afraid of China. Dimon said the US has many strengths over China, better relations with it neighbors. AdvertisementOn Wednesday, JPMorgan Chase CEO Jamie Dimon listed out various ways in which he says the US is ahead of China. "I'm not afraid of China," Dimon said at The New York Times DealBook Summit. While JPMorgan has been expanding its footprint in China, Dimon said the bank would exit the market if US authorities him to.
Persons: Jamie Dimon, Dimon, , I'm, Andrew Ross Sorkin's, We've, Russia —, China's Organizations: JPMorgan, Service, The New York Times DealBook Locations: China, Beijing, Mexico, Canada, Japan, Philippines, India, Russia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Squawk Box' crew react to Elon Musk's NYT DealBook Summit interviewCNBC's Andrew Ross Sorkin, Becky Quick and Joe Kernen discuss Elon Musk's interview at The New York Times DealBook Summit.
Persons: CNBC's Andrew Ross Sorkin, Becky Quick, Joe Kernen, Elon Musk's Organizations: Elon Musk's, The New York Times DealBook
New York CNN —Elon Musk desperately wants to be liked, despite his pronouncement Wednesday that he doesn’t mind being hated. The sentiment is, like so much of Musk’s public persona, a lie designed to keep the public’s focus squarely on him. Watching the interview, even online, you can feel the awkward energy of that moment — cringeworthy for some, but seemingly invigorating for Musk. On Wednesday, Musk sought to shrug off his most recent anti-Jewish post as a “foolish” mistake that got misinterpreted by the media. Musk clearly has “a fairly straightforward case of internet brain rot,” as the Atlantic writer Charlie Warzel put it in a Threads post.
Persons: New York CNN — Elon Musk, , , Andrew Ross Sorkin, Musk, Rich Guy, White, , shrug, Charlie Warzel Organizations: New, New York CNN, New York Times DealBook, New York Times, Whites Locations: New York, California, Eastern Europe, Israel, Atlantic
Elon Musk hinted at his 2024 voting intentions in an interview at an event Wednesday. Musk claims that he's a centrist, but has increasingly supported rightwing politicians. AdvertisementElon Musk doubts he'll be voting for Joe Biden in the 2024 presidential election. "They held an electric vehicle summit at the White House and specifically refused to let Tesla attend," Musk said. Musk has increasingly supported rightwing candidates, offering his social media platform X to Ron DeSantis for his launch of his presidential run back in May.
Persons: Elon Musk, Joe Biden, he's, , Elon, Biden, I'm, Andrew Ross Sorkin, Musk, Tesla, Nikki Haley, Vivek Ramaswamy, Barack Obama, Ron DeSantis Organizations: Service, The New York Times, Summit, Trump, Democrat, White, Washington Post Locations: Florida
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