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☆ How the UAW’s win may change the South
▼ + stars: | 2024-04-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

Now, the United Auto Workers has dealt a serious blow to that model: winning a landslide union victory after decades of failing to unionize automakers in the South. It’s the UAW’s first win in trying to represent workers at a foreign car manufacturing plant in the South. Before Friday’s win, the highest profile union election held in the South in recent years was the attempt to organize Amazon warehouse workers in Alabama in 2022. Bill Lee in 2019 visited Volkswagen’s plant in Chattanooga to encourage workers to reject the union, and former South Carolina Gov. But the Volkswagen win, said UAW President Shawn Fain to CNN, shows that politics are not an insurmountable obstacle when it comes to organizing in the South.

Persons: Stephen Silvia, Southern, ” Silvia, – Tesla, Tesla, Henry McMaster, Kay Ivey, “, ”, Erica Smiley, Honda, Friday’s, you’ve, they’ve, Bill Lee, Nikki Haley, Biden —, Shawn Fain, “ Trump, ” Fain, “ I’m, George Walker IV, Harley Shaiken, Justice, CNN’s Chris Isidore Organizations: New, New York CNN, United Auto Workers, UAW, American University, Southern Gamble, Workers, Foreign, Volkswagen, Mercedes, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, –, South Carolina Gov, Alabama Gov, “ Unions, Justice, Union, Auto, South Detroit, Benz, Kia, P Global Market Intelligence, Republicans, Environmental Defense Fund, Southern, “, GOP, Tennessee Gov, Democratic, CNN, Tennessee, AP, Chattanooga won’t, University of California, Jobs Locations: New York, United States, Volkswagen’s, Chattanooga , Tennessee, Tennessee, South Carolina, North Carolina, Louisiana, Texas, Mercedes, Vance , Alabama, Alabama, Smyrna , Tennessee, Spartanburg , South Carolina, Lincoln , Alabama, Southern, South, Chattanooga, Georgia, Berkeley

☆ UAW union vote at Volkswagen could have big implications for US auto industry and labor’s strength in South
▼ + stars: | 2024-04-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

A whole lot of people who were anti-union in the past have switched.”The union vote at the Volkswagen plant will mean more than whether the 4,300 hourly workers in Chattanooga are members of the UAW or not. But he said he wants the better pay and benefits he sees workers at unionized auto plants are getting, in order to provide more for his family. Volkswagen staying neutralThe company said it is neutral in the election, only urging workers to vote however they want. That’s relatively rare in union representation elections, where management often lobbies workers to vote no at mandatory meetings, and sometimes takes action against union organizers. Bill Lee and five other Southern governors – from Alabama, Georgia, Mississippi, South Carolina and Texas – who have nonunion auto plants in their states.

Persons: Renee Berry, ”, they’re, Darrell Belcher, it’s, Berry, ” Berry, Kelcey Smith, ” Smith, “, Belcher, he’s, Mercedes –, Tesla, Wheaton, Bill Lee, –, Joe Biden, Corey Linn, Biden, He’s, ’ ” Berry Organizations: New, New York CNN, Volkswagen, United Auto Workers, UAW, unionize, ” UAW, GM, Ford, VW, “, Mercedes – BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, Cornell University’s Industrial, Labor Relations, Tennessee Republican Gov, Southern, ”, don’t Locations: New York, Chattanooga , Tennessee, Chattanooga, Tennessee, Michigan, Pennsylvania, Mexico, Germany, United States, Tuscaloosa , Alabama, Alabama , Georgia , Mississippi, South Carolina, Texas

☆ UAW says Volkswagen workers vote overwhelmingly to join union, giving it groundbreaking win
▼ + stars: | 2024-04-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

If the union can win the right to represent workers across the broad swath of the nonunion auto plants, it could increase their leverage in future contract negotiations. Most of the nonunion auto plants are spread across the south. It is also seeking to represent workers at three American automakers making electric vehicles – Tesla, Rivian and Lucid. Many of the nonunion automakers, including Volkswagen, gave their workers similar raises in the wake of the UAW contracts. And the UAW has had little success winning the right to represent nonunion auto workers since then, until Friday’s vote.

Persons: ”, Kelcey Smith, Bill Lee Organizations: New, New York CNN, United Auto Workers, National Labor Relations Board, UAW, Volkswagen, – General Motors, Ford, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, American, Mercedes, Tennessee Gov Locations: New York, Chattanooga , Tennessee, United States, Southern, Vance , Alabama, Tuscaloosa, Volkswagen’s Chattanooga, Alabama, Georgia , Mississippi, South Carolina, Texas, American, Pennsylvania

☆ UAW files for union vote at Volkswagen’s Tennessee plant
▼ + stars: | 2024-03-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —The United Auto Workers union is seeking a union representation vote among more than 4,000 hourly workers at the Volkswagen plant in Chattanooga, Tennessee. The union has announced a broad-based campaign to win representation at the American plants of 13 nonunion automakers. That is slightly more than the union’s representation at the three unionized automakers, which have about 145,000 UAW members between them. The VW Chattanooga plant is the only factory operated by VW that does not have union representation. Once the election process starts, management often holds mandatory meetings with staff to make the case against union representation, and that convinces some earlier supporters of the union to end their support.

Persons: –, ”, Victor Vaughn, ” Vaughn, “ Organizations: New, New York CNN, United Auto Workers, Volkswagen, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, – Tesla, –, Motors, Ford, Jeep, Dodge, Chrysler, VW, ” Locations: New York, Chattanooga , Tennessee, VW Chattanooga, Chattanooga

☆ Stocks making the biggest moves midday: Tesla, American Airlines, Boeing, Humana and more
▼ + stars: | 2024-01-25 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

American Airlines posted adjusted earnings of 29 cents per share on $13.06 billion in revenue. Adjusted earnings per share came in at $3.87 for the fourth quarter, topping the $3.78 expected from analysts polled by LSEG. ResMed's adjusted earnings were $1.88 per share for its fiscal second quarter, compared to the $1.77 per share expected from analysts polled by StreetAccount. Adjusted earnings in the fiscal second quarter were $7.52 per share, versus the $7.12 per share consensus estimate, per LSEG. United Rentals' adjusted earnings per share, revenue and adjusted earnings before interest, taxes, depreciation, and amortization all topped consensus estimates, per FactSet.

Persons: Tesla, Max, Northrop Grumman, — CNBC's Hakyung Kim, Samantha Subin, Tanaya Macheel, Sarah Min Organizations: American Airlines –, American Airlines, LSEG, IBM —, postmarket, Revenue, Boeing —, Bank of America, Boeing, Alaska Airlines, Federal Aviation, StreetAccount . Revenue, Humana, Comcast —, Comcast, LSEG . Revenue, Northrop, U.S . Air Force's, Nokia —, Nokia, United Rentals, Avis Budget, Avis Budget Group, Deutsche Bank, CNBC Locations: Lam, Finnish

☆ Apple supplier Foxconn says it's 'way too late' to chase dominance in cutting-edge chips
▼ + stars: | 2023-10-18 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

watch nowApple iPhone supplier Foxconn , officially known as Hon Hai, said its semiconductor strategy is to focus on producing "specialty chips" — not competing in cutting-edge chips. We focus more on specialty technology," Chiang Shang-Yi, chief strategy officer for semiconductor at Hon Hai Technology Group, told CNBC's Emily Tan on Tuesday. Specialty chips are known as semiconductors found in sectors such as automotive and internet of things. And we call it specialty technology – that is not late at all," said Chiang. Chiang Shang-Yi Chief strategy officer for semiconductor"Sometimes we may have to build their cars by their drawings.

Persons: Hai, Chiang Shang, Yi, Emily Tan, Taiwan's, Chiang, Jun Seki, Hai's, Foxconn, Foxtron, – Tesla, Volkswagen –, Young Liu, Liu Organizations: Apple, Hai Technology Group, Samsung, Hai Technology, Yulon, Reuters, CNBC, Volkswagen, Research, Vedanta Locations: South, Foxconn, China, Europe, U.S, India, Karnataka, Beijing, Washington

☆ BYD calls on China automakers to unite, 'demolish the old' in global push
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +4 min

BYD (002594.SZ) used an event this week to mark a production milestone to celebrate a bigger purpose: the emergence of China as a global auto manufacturing powerhouse. China's automakers are locked in a bruising price war that was started by Tesla (TSLA.O) in January and which shows no signs of easing. It ends with a call for China's automakers to "demolish the old legends and achieve new world-class brands," under the slogan, "Chinese Autos". said Li Xiang, CEO of Li Auto, who reposted the BYD video. In July, the industry group representing China's automakers retracted a pledge to avoid "abnormal pricing" brokered between 16 automakers, including BYD.

Persons: Aly, Wang Chuanfu, BYD –, BYD, Li Auto, William Li, Li Xiang, Wang Yuanli, Wall, Wang, Great Wall, Zhang Yan, Brenda Goh, Kevin Krolicki Organizations: Security, Auto, REUTERS, Tesla, FAW Group, HK, BYD's, Technology, China's Auto Business, China Association of Auto Manufacturers, BYD, Volkswagen, Thomson Locations: Auto Shanghai, Shanghai, China, Weibo, Europe

Johnson & Johnson Covid-19 vaccines are seen on a table on May 7, 2021 in Los Angeles, California. Johnson & Johnson —The stock jumped 6%, lifting the 30-stock Dow Jones Industrial Average, after the the health care posted second-quarter revenue and adjusted earnings that topped Wall Street's expectations. Johnson & Johnson also lifted its full-year guidance as sales from the company's medtech business jumped. Discover Financial Services — Shares tumbled 14% after the company's second-quarter results missed analysts' estimates on both top and bottom lines. MarketAxess — The electronic trading platform rallied 5.6% after releasing its second-quarter results.

Persons: Johnson, Johnson Covid, Tesla, Abbott, Zions, Estee Lauder, StreetAccount, —, Yun Li, Jesse Pound, Samantha Subin, Michelle Fox Organizations: Netflix, Refinitiv, American Airlines –, American Airlines, IBM, Johnson, Dow Jones, Abbott, Discover Financial, Federal Deposit Insurance, Barclays Locations: Los Angeles , California, China, Freeport

☆ Tesla fans are buzzing about a suspected Model 3 redesign after an unverified photo circulated online
▼ + stars: | 2023-04-14 | by ( Nora Naughton | ) www.businessinsider.com time to read: +2 min

Reddit post reignites Model 3 redesign rumors. Rumors of Tesla's first-ever major redesign are intensifying after pictures appeared to leak online this week of a refreshed Model 3. Tesla analysts have long suspected that a Model 3 redesign is in the pipeline for this year, and some Tesla fans have started posting suspected photos of these models online in recent months. Tesla is taking on the mass marketMusk has said Tesla aims to build 2 million vehicles this year, nearly doubling its 2022 production capacity. These moves, coupled with redesigns, are all but necessary in order for Tesla to truly compete with the likes of GM and Toyota.

☆ U.S. regulators rejected Elon Musk’s bid to test brain chips in humans, citing safety risks
▼ + stars: | 2023-03-02 | by ( Rachael Levy | Marisa Taylor | ) www.cnbc.com time to read: +19 min

Companies that do secure human-testing approval typically conduct at least two rounds of trials before applying for FDA approval to commercially market a device. "Everybody in the industry was saying: 'Oh my God, they're going to run straight into a brick wall,'" Ludwig said of Musk's bid for FDA approval. For example, NeuroPace, which makes the brain implant to treat epilepsy, received final FDA approval in 2013 – 16 years after the company's launch. Beyond grants, it provides access to government experts who advise on how to gain FDA approval and commercialize a device. Musk's emails to Neuralink staffers often come from his SpaceX address, said two people who reviewed them.

☆ U.S. regulators rejected Elon Musk’s bid to test brain chips in humans
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +23 min

Musk’s missed deadlines for FDA approval of Neuralink July 2019:Musk says Neuralink is aiming to receive regulatory approval for human trials of brain implants by the end of 2020. “Everybody in the industry was saying: ‘Oh my God, they’re going to run straight into a brick wall,’” Ludwig said of Musk’s bid for FDA approval. For example, NeuroPace, which makes the brain implant to treat epilepsy, received final FDA approval in 2013 – 16 years after the company’s launch. The FDA’s concerns about the battery are also potentially serious, experts in brain devices said. Still, that proposal disappointed Neuralink because it could delay progress toward final FDA approval, one of the sources said.

☆ Stocks making the biggest moves premarket: Shaw Communications, Li Auto, Southwest and others
▼ + stars: | 2022-12-30 | by ( Peter Schacknow | ) www.cnbc.com time to read: +1 min

Shaw surged 10.1% in the premarket, while Rogers gained 0.4%. Li Auto (LI) – Li Auto said it expected to deliver more than 20,000 of its electric vehicles this month, higher than the 14,087 the China-based EV maker delivered in December 2021. Tesla (TSLA) – Tesla is down 1% in the premarket after posting its first back-to-back gains since November 22 to 23. Mesa Air Group (MESA) – The regional air carrier reported a bigger-than-expected quarterly loss and revenue that fell short of analyst estimates. Mesa shares fell 3% in premarket trading.

☆ Stocks making the biggest moves premarket: Tesla, Cal-Maine, Southwest and others
▼ + stars: | 2022-12-29 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Cal-Maine Foods (CALM) – Cal-Maine slid 4.9% in premarket trading after its quarterly earnings came in below Wall Street forecasts. General Electric (GE) – GE spin-off GE HealthCare Technologies will join the S&P 500 when it begins trading as a separate public company on Jan. 4. Vornado will replace logistics company RXO (RXO), which will move to the S&P SmallCap 600. GE HealthCare — trading on a when-issued basis — rose 1% in the premarket, while Vornado was marginally lower and RXO jumped 3.3%. Apple (AAPL) – Apple is up 1% in premarket trading after closing Wednesday at a 1-1/2 year low.

☆ Tesla or Rivian? The pros predict what 2023 will look like for the two stocks
▼ + stars: | 2022-12-29 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

It's been a tumultuous year for electric vehicle stocks, and two investor favorites, Tesla and Rivian , have been no exception. More recently, in early December, he told CNBC Pro that his price target for Tesla is $304. For now, we view this as short-term noise and, over the medium to long term, see Tesla's stock tied to Tesla's earnings." Evercore gave Rivian a price target of $35 for 2023, or 97% upside — lower than its 220% for Tesla. "The fact that Ford decided to sell Rivian stock rather than partner with Rivian is a long-term problem," he added.

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☆ Stocks making the biggest moves premarket: Tesla, AMC, Southwest and others
▼ + stars: | 2022-12-28 | by ( Peter Schacknow | ) www.cnbc.com time to read: +1 min

Baird reduced its price target on Tesla to $252 per share from $316, but continues to rate the stock outperform. AMC Entertainment (AMC) – AMC Entertainment rose 1.2% in premarket trading after CEO Adam Aron asked the movie theater chain's board to freeze his salary. Southwest Airlines (LUV) – Southwest Airlines fell 1.3% in premarket action as it continues to cancel flights in its struggle to return to a normal schedule. Apple (AAPL) – Apple is marginally higher in the premarket following its Tuesday close, which was the lowest since June 2021. It rebounded by 1.1% in premarket trading.

☆ Stocks making the biggest moves premarket: Southwest, Tesla, Peloton and others
▼ + stars: | 2022-12-27 | by ( Peter Schacknow | ) www.cnbc.com time to read: +1 min

Southwest Airlines (LUV) – Southwest slid 4.1% in the premarket following thousands of flight cancellations over the holiday weekend, a higher amount than experienced by other major airlines amid winter storm issues. United Airlines (UAL), American Airlines (AAL), Delta (DAL) and JetBlue (JBLU) all rose in premarket action. Tesla (TSLA) – Tesla fell 5.3% in premarket trading, after falling for six consecutive trading days and nine of the past ten. Peloton (PTON) – Peloton is selling refurbished bikes at discounts of up to $500 compared with new ones. Peloton rose 1% in the premarket.

☆ Stocks making the biggest moves premarket: Tesla, Nutanix, Meta and more
▼ + stars: | 2022-12-23 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the bell:Tesla (TSLA) – Tesla CEO Elon Musk said he would refrain from selling any more Tesla stock for 18 to 24 months. Tesla gained 1.2% in the premarket. Nutanix (NTNX) – Nutanix tumbled 16.6% in the premarket following a report that Hewlett Packard Enterprise (HPE) has ended talks to acquire the cloud computing company. Meta Platforms (META) – Meta and users of its Facebook platform settled a privacy class action lawsuit, with Meta agreeing to pay $725 million. Oilfield services stocks – Halliburton (HAL) gained 1.4% in the premarket, with Schlumberger (SLB) up 1.3% and Baker Hughes (BKR) rising 1%.

☆ Stocks making the biggest moves premarket: Aerojet Rocketdyne, Tesla, Mesa Air and others
▼ + stars: | 2022-12-19 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Aerojet Rocketdyne rose 2% in the premarket, while L3Harris fell 1.7%. Meta fell 1.4% in premarket action. Warner Music Group (WMG) – Warner Music shares rallied 3% in the premarket after Atlantic Equities upgraded the stock to overweight from neutral. The firm said Warner Music has shown that it can continue to deliver growth in streaming despite a difficult economic backdrop. Moderna (MRNA) – The vaccine maker jumped 3.8% in premarket trading after Jefferies upgraded the stock to buy from hold, noting a robust pipeline beyond Covid treatments.

☆ Stocks making the biggest moves premarket: Tesla, Warner Bros. Discovery, Lennar and more
▼ + stars: | 2022-12-15 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the bell:Tesla (TSLA) – Tesla fell 1.2% in premarket trading after an SEC filing showed that Elon Musk sold another $3.6 billion in shares. Novavax (NVAX) – Novavax tumbled 9.2% in premarket trading after the drug maker announced a $125 million common stock offering and a $125 million offering of convertible debt. AT&T fell 1.4% in premarket trading. Snap (SNAP) – The social media company's stock was downgraded to hold from buy at Jefferies, which said Snap is facing intense competition and a worsening macroeconomic picture. Snap lost 2.1% in premarket trading.

☆ Stocks making the biggest moves premarket: Activision Blizzard, Tesla, Manchester United and others
▼ + stars: | 2022-11-25 | by ( Peter Schacknow | ) www.cnbc.com time to read: +1 min

Tesla (TSLA) – Tesla said its Full Self Driving Beta software is now available to everyone in North America. Tesla rose 2% in premarket trading. Manchester United Shares jumped 14.7% Tuesday and rocketed 25.8% on Wednesday. Nonetheless, the stock rose 1% in the premarket. Deutsche Bank (DB) – The German bank's U.S.-traded shares added 2.4% in the premarket, following a report by RBC Capital that said Deutsche Bank's restructuring progress has been overlooked by investors.

☆ Tesla officially opens its charging network to non-Tesla cars
▼ + stars: | 2022-11-11 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

Tesla chargers outnumber so-called CCS chargers, the sort used by Ford, General Motors, Audi, Rivian and others, by a factor of two to one, according to Tesla. Now, Tesla has invited other automakers to build cars with charging ports that can work with Tesla’s charging format and for other charging companies, like EVGo, ChargePoint and Electrify America, to add Tesla-style plugs to their chargers. Tesla drivers have long been able to use CCS chargers with a simple adapter that fits over the charging plug. Even Visnic admitted, though, that Tesla chargers tend to be more reliable and easier to use than other public chargers. But charging companies may want to add these cables because it could bring in new customers, said Jim Burness, CEO of National Car Charging, a wholesaler of equipment to the EV charging industry.

☆ Stocks making the biggest moves midday: Lyft, Tripadvisor, Take-Two Interactive and more
▼ + stars: | 2022-11-08 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +6 min

Lyft – Shares of Lyft plummeted 21% after the company's earnings report showed mixed results in the last quarter. SolarEdge Technologies – Shares of SolarEdge rose 18% after the company reported record revenue in its last quarter that beat analysts' expectations. Revenue fell short of estimates coming in at $967 million instead of $979 million. Perrigo – Shares of pharmaceutical company Perrigo slumped 16% after the company reported earnings and revenue that fell short of analysts' expectations, according to Refinitiv. The company reported $198.3 million in revenue, which beat expectations, according to StreetAccount.

☆ Stocks making the biggest moves in the premarket: Tesla, WeWork, Alibaba and more
▼ + stars: | 2022-10-24 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Alibaba (BABA) – Alibaba tumbled 12.3% in premarket trading after the release of weaker-than-expected China GDP data. China Tech Stocks – China-based tech stocks are under pressure after President Xi secured a third leadership term, leading to speculation of a continued crackdown on the country's tech sector. ServiceNow (NOW) – ServiceNow added 2.5% in premarket trading after Guggenheim upgraded the stock to "buy" from "neutral." Medtronic added 1% in premarket trading. Williams-Sonoma fell 2.5% in premarket action.

☆ Stocks making the biggest moves premarket: AT&T, American Airlines, Blackstone and more
▼ + stars: | 2022-10-20 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

The company said wireless revenue rose 5.6%, the best quarterly improvement in more than a decade, and postpaid phone net additions came in higher than expected. American Airlines (AAL) – American Airlines beat top and bottom line estimates for the third quarter as travel demand continued to surge despite economic worries. Blackstone (BX) – Blackstone added 1% in premarket action following better-than-expected quarterly results. Tesla (TSLA) – Tesla slid 5.3% in premarket trading after it reported lower-than-expected quarterly revenue and cut its full-year delivery target. Las Vegas Sands (LVS) – Las Vegas Sands reported a larger-than-expected loss for the third quarter, while revenue beat analyst forecasts.

☆ Stocks making the biggest moves in the premarket: Ford, General Motors, Rivian and more
▼ + stars: | 2022-10-10 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Take a look at some of the biggest movers in the premarket:Ford (F), General Motors (GM) – UBS downgraded both automakers, cutting Ford to "sell" from "neutral" and downgrading GM to "neutral" from "buy." Ford slid 3.6% in the premarket while GM fell 3.5%. Rivian (RIVN) – Rivian shares tumbled 9% in the premarket after it recalled nearly all its vehicles to fix potential steering issues. Kraft Heinz (KHC) – Kraft Heinz rose 2% in premarket action after Goldman Sachs upgraded the food maker's stock to "buy" from "neutral." Merck (MRK) – Merck rose 2.7% in the premarket after Guggenheim upgraded the stock to "buy" from "neutral."

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