DIRS.INFO The most relevant business & tech news

☆ Tesla stock could soar 50% and is the top pick in an auto sector that's seeing an EV 'shake-out,' Morgan Stanley's Adam Jonas says
▼ + stars: | 2023-01-25 | by ( Brian Evans | ) www.businessinsider.com time to read: +3 min

Tesla stock could add 50% despite price cuts to vehicles, according to Morgan Stanley. "Tesla's recent price cuts are just the latest sign the EV market may be entering the 'shake-out' phase," he wrote. "Tesla's recent price cuts are just the latest sign the EV market may be entering the 'shake-out' phase," he wrote. While Morgan Stanley trimmed its price target on Tesla stock, its $220 level remains one of the highest on Wall Street. JPMorgan rates Tesla "underweight" with a $120 price target, and Wedbush rates Tesla "outperform" with a $175 price target.

☆ Exclusive: Chile mine delays to slow copper growth; peak seen lower, later -regulator
▼ + stars: | 2023-01-25 | by ( Fabian Cambero | ) www.reuters.com time to read: +3 min

SANTIAGO, Jan 25 (Reuters) - Copper production in Chile, the world's largest producer of the red metal, will grow at a slower rate this decade than previously hoped, a government report seen by Reuters showed, with peak output later and lower than estimated a year ago. That is well below the 7.62 million-tonne 2028 peak the regulator had estimated in its decade outlook a year ago. Despite the expected slower growth in Chile, the report forecasts production to grow 17% to 6.58 million tonnes by 2033. Expected output will be 5.345 million tonnes in 2022, 5.467 million tonnes this year and 5.891 million tonnes in 2024. On Wednesday the chief executive of miner Freeport-McMoRan Inc (FCX.N) said Chile expansion projects were on hold until the country's political situation was clearer.

☆ A South American currency union? Don't hold your breath
▼ + stars: | 2023-01-23 | by ( Rodrigo Campos | ) www.reuters.com time to read: +4 min

That came after the leaders had touted a "common South American currency" on Sunday and officials told the Financial Times the tender could even be called the "sur" and eventually look to bring in other countries around South America. "It has failed to achieve simpler integration goals than that of a common currency." He called the idea of a currency union a "fantasy." Currency union talk was just a distraction, she said. Todd Martinez, a director at Fitch Ratings' sovereigns group focused on Latin America, said the two countries appeared to be unlikely partners to form a successful currency union, given their diverging economies.

☆ Explainer: What Brazil and Argentina's 'currency union' really means
▼ + stars: | 2023-01-23 | by ( Marcela Ayres | ) www.reuters.com time to read: +3 min

BRASILIA, Jan 23 (Reuters) - Brazil and Argentina sparked some excitement on Sunday over the possibility of a potential "currency union", though the two countries are unlikely to ditch the real or peso any time soon. That sparked off chatter about a European Union-style zonal currency for South America, though officials have since played that down and analysts say a full-on currency union is a distant prospect. Under the plan, the Brazilian real and Argentine peso would continue to exist, with the new tender targeted narrowly at trade. That is key for Argentina, which is grappling with low foreign currency reserves after years of debt crises. In 2019, former Brazilian President Jair Bolsonaro touted plans for a currency union, which also never materialized.

☆ Disney could use an activist investor like Nelson Peltz to help get its financial house in order
▼ + stars: | 2023-01-19 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

An activist investor like Trian Partners' Nelson Peltz on Walt Disney 's (DIS) board could help prod the entertainment conglomerate to address its financial woes and implement much-needed changes to create long-term value for the company and its shareholders. "Lots of angry people ask me why I support Nelson Peltz for the Disney board, and I give a simple answer: What has this board done for its shareholders other than wipe out more shareholder money?" Nonetheless, Disney's board unanimously decided against offering Peltz a seat, according to an SEC filing the company submitted Tuesday. Peltz, whose next step in his fight is to convince voting Disney shareholders he deserves a board seat, has had success serving on several company boards. Wall Street has had a mixed reaction to Peltz's efforts to obtain a board seat.

☆ Peru protesters, fired up by deaths, march on Lima demanding change
▼ + stars: | 2023-01-19 | by ( Marco Aquino | ) www.reuters.com time to read: +3 min

[1/9] Protesters take part in the 'Take over Lima' march to demonstrate against Peru's President Dina Boluarte, following the ousting and arrest of former President Pedro Castillo, in Lima, Peru January 19, 2023. Protesters are planning a "Take over Lima" protest on Thursday, with thousands of police expected in response. The government last week extended a state of emergency in Lima and the southern regions of Puno and Cusco, curtailing some civil rights. Boluarte has asked for "forgiveness" for the protest deaths but remained firm that she is not going to resign. The protest deaths have been the lightning rod for much of the anger, with banners calling Boluarte a "murderer" and calling the killings by police and military "massacres".

☆ Why GM's new Chevy Corvette is a hybrid and not an all-electric car
▼ + stars: | 2023-01-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

The Detroit automaker had discontinued all hybrids, including plug-in hybrids, to focus investment on all-electric vehicles. So why make a hybrid Corvette? 2024 Chevrolet Corvette E-Ray hybrid sports car GMThe C8 features an exclusive Corvette engine and architecture. The hybrid system was specifically designed for the eighth-generation Corvette, according to Harlan Charles, Chevrolet Corvette product marketing manager. 2024 Chevrolet Corvette E-Ray hybrid sports car GM

☆ ‘FDR’s Gambit’ Review: Playing the Numbers
▼ + stars: | 2023-01-18 | by ( Adam J. White | ) www.wsj.com time to read: +1 min

The judiciary, Alexander Hamilton warned, “is in continual jeopardy of being overpowered, awed, or influenced by” the political branches of government. That year, President Franklin Roosevelt waged political war against a Supreme Court that had stifled his ambitious New Deal policies. FDR was at the height of his prewar authority, and the court’s counter-majoritarian decisions had put the institution in genuine peril. In “FDR’s Gambit: The Court Packing Fight and the Rise of Legal Liberalism,” she seeks to “challenge the conventional wisdom” about FDR’s attacks. She sees not presidential overreach but “shrewdness.” And Ms. Kalman’s account is thorough: From congressmen to administration officials to judges to columnists to pollsters to interest groups, “FDR’s Gambit” recounts seemingly everyone who supported, opposed or analyzed Roosevelt’s war on the court.

☆ Argentina to buy back $1 bln in foreign debt in signal to markets
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, Jan 18 (Reuters) - Argentina will buy back foreign bonds equivalent to over $1 billion to improve the South American country's debt profile, economy minister Sergio Massa said on Wednesday, looking to send a positive signal to markets despite low reserves levels. The unusual move, which Massa said could help boost the country's access to capital markets, comes as Argentina battles to replenish foreign currency reserves, rein in rampant inflation and prop up a weakening local peso currency. "Undoubtedly over the next few months, by inviting the private sector to accompany the Argentine state in this job of improving its (debt) profile, we will carry out other measures like the one we are taking today," he added. Argentina's sovereign bonds languish in distressed territory despite major restructurings in recent years with private creditors and the International Monetary Fund (IMF), with which it struck a $44 billion deal last year to push back repayments. Reporting by Walter Bianchi and Jorgelina do Rosario; Writing by Adam Jourdan; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Glencore copper mine in Peru running at 'restricted' capacity due to protests -source
▼ + stars: | 2023-01-17 | by ( Marco Aquino | ) www.reuters.com time to read: +2 min

LIMA, Jan 17 (Reuters) - Glencore Plc's (GLEN.L) huge Antapaccay copper mine in Peru is operating at "restricted" capacity due to anti-government protests that saw an attack on the facility last week, a company source told Reuters on Tuesday. "The mine has not yet suspended operations, which overall continue in a restricted manner," the company source said, asking not to be named. Road blockades by protesters were preventing trucks from moving its copper, the source said. Last week, two Antapaccay company vehicles were burned and the area around the workers' housing was attacked. Las Bambas mine, owned by China's MMG Ltd (1208.HK) in the Apurimac region, has also seen transport of copper concentrates impacted by the blockades.

[1/4] Soy plants are pictured on a farm in Enconada, on the outskirts of Santa Cruz de la Sierra, Bolivia, January 7, 2023. The tensions underscore a sharpening of a deep-seated rivalry between Santa Cruz and La Paz - Bolivia's farming hub and the political capital respectively - that have long butted heads over politics and resources. La Paz is an Andean stronghold with a large indigenous population that has traditionally titled towards the ruling socialist MAS party. "They can't resist on their own", said Montenegro, adding the rising economic pressures would force Santa Cruz producers to re-start supply within the country. Every Santa Cruz person has to fight, all Bolivians must fight for the well-being of Bolivia, for freedom."

☆ Nelson Peltz's attempt to join Disney's board could force much-needed accountability
▼ + stars: | 2023-01-12 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

If Nelson Peltz were to win his fight to join Walt Disney 's (DIS) board of directors, the activist investor could force a level of accountability at the company that's sorely needed. Disney's board made the decision to not endorse Peltz and swiftly announced Wednesday that they named Mark Parker, a director since 2016 and executive chairman at Nike (NKE), as chairman, succeeding Susan Arnold. Disney, Peltz explained, "is a lot more than a media company." Disney's streaming business lost nearly $1.5 billion last quarter. Given Disney's distressed balance sheet, Jim asked Peltz about streaming service Hulu.

☆ Peru's mining south, rocked by violence, braces for 'endless battle'
▼ + stars: | 2023-01-10 | by ( Marco Aquino | ) www.reuters.com time to read: +5 min

The anger in the Andean south looks likely to harden, protest leaders told Reuters, a major risk to firms in the world's no. "This is an endless battle," said Edgar Chura, leader of the Puno Defense Front protest group before the Monday clashes, a view shared by other protest leaders who spoke with Reuters. Protest leaders, meanwhile, say that a government proposal to bring elections forward to April 2024 is not enough. Jose Luis Chapa, a protest leader and workers union official in Arequipa, said new elections must be held this year if the government wanted dialogue. "The agreement is not to talk with anyone from government, least of all Dina Boluarte," the mining region protest leader said, adding protests would be "staggered" around the south.

☆ Elon Musk's net worth has already dropped $13 billion this year
▼ + stars: | 2023-01-06 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +3 min

Elon Musk has lost $13 billion so far in 2023, according to the Bloomberg Billionaires Index. He's the only person to lose $200 billion, per Bloomberg, but is still worth $124 billion. He's still the world's second-richest person, with a net worth of $124 billion as of January 5. Apart from Musk's distraction with Twitter, Tesla fell victim to slumping demand for electric vehicles, specifically in one of its largest markets, China. Meanwhile, Musk's Twitter takeover continues to be marked by chaos.

☆ Exclusive: Paraguay election race puts Taiwan ties on a knife-edge
▼ + stars: | 2023-01-05 | by ( Daniela Desantis | ) www.reuters.com time to read: +5 min

Paraguay is one of only 14 nations globally that retains diplomatic ties with Taiwan and the only South American country to do so. "Paraguay must have relations with China," Alegre said in a recent interview after being named presidential candidate. "We hold this critical position towards relations with Taiwan because we don't think we get enough back from this relationship." Santiago Pena, the Colorado Party candidate, said Paraguay's over six decades of ties with Taiwan would remain intact if he won the April 30 vote. "What we produce is enough for a neighborhood in a city in China, but what interests (Beijing) is us breaking ties with Taiwan.

☆ A PE firm that's built its brand on high-profile sports deals is broadening its scope
▼ + stars: | 2023-01-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But one firm that's already well established in the space is looking to quietly diversify itself beyond the pitch. With seemingly everyone interested in sports these days, Cardinale is smart to want to hedge his firm. The crypto exchange also agreed to pay $50 million to improve how it vets customers and transactions. Mala Gaonkar's hedge fund just made its long-awaited debut. SurgoCap Partners entered the fray this week with $1.8 billion in capital, making it the biggest launch of a women-led hedge fund, Bloomberg reports.

☆ 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.

☆ Tesla watchers like Morgan Stanley and Deutsche Bank aren't sweating its big Q4 miss
▼ + stars: | 2023-01-03 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Certainly, a number of investors aren't thrilled to see Tesla's numbers fail to meet expectations, and that vehicle supply outpaced demand yet again. "We expect challenging headlines around demand softening and associated price cuts to continue," Deutsche Bank said. Keeping the faithGarrett Nelson, VP and senior equity analyst at CFRA Research, reiterated his strong buy opinion on Tesla shares. Nelson also expects new record-high volumes for Tesla as it continues to ramp up production in Austin, Texas, and Berlin. "However, Tesla is held to a higher standard and a miss is a miss and the bulls are not popping champagne on these numbers."

☆ Argentina president seeks to impeach Supreme Court chief after clash
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, Jan 3 (Reuters) - Argentine President Alberto Fernandez on Tuesday said he would seek to impeach the head of the Supreme Court, after the two powers recently clashed over a court decision to award more state funds to the city of Buenos Aires. Fernandez said in a statement that he had signed, along with various provincial governors, a request for the impeachment of Supreme Court President Horacio Rosatti as well as other members of the top court, escalating a fight with the judiciary. Fernandez had rejected a Supreme Court ruling in December to give a larger proportion of state funds to the opposition-controlled city of Buenos Aires, before backtracking and saying that he would comply with the ruling he called "unfair". Reuters could not immediately reach the Supreme Court or Rosatti for comment. Fernandez called on his Frente de Todos coalition to support his plan to start the impeachment process in Congress.

Santa Cruz leaders pledge to fight until Camacho is released, picketing government buildings and stopping transport of grains. "We have a mandate from our assembly that nothing leaves Santa Cruz and that is what we are going to do," said Rómulo Calvo, head of the powerful Pro Santa Cruz civic group. Marcelo Cruz, President of the International Heavy Transport Association of Santa Cruz, said routes were being blocked so no trucks could leave the province. "No grain, animal or supply from the factories should leave Santa Cruz for the rest of the country. "Santa Cruz is the economic stronghold of Bolivia," said Gary Rodríguez, General Manager of the Bolivian Institute of Foreign Trade (IBCE).

☆ The S&P 500's best and worst stocks of 2022, and where they will go from here
▼ + stars: | 2022-12-30 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The S & P 500 may be headed for its worst yearly performance since 2008, but some stocks still outperformed this year. The strategist has a 12-month target of 4,575 on the S & P 500, implying about a 19% gain from Thursday's close. Here are the best and worst stocks in the S & P 500. First Solar shares are also in the top 10 best-performing stocks in the S & P 500. Other worst performers in the S & P 500 include Match Group , Align Technology and SVB Financial Group .

☆ Bob Pisani: What UBS' Art Cashin taught me about the art of storytelling
▼ + stars: | 2022-12-30 | by ( Bob Pisani | ) www.cnbc.com time to read: +8 min

But for 60 years, Art Cashin has been one of the most influential men on Wall Street. Cashin is that rare exception: a man who knows what he was talking about, and sounds like he knows. Tiffany, Cashin said, knew that Morgan loved diamond stickpins, which he used to put in his tie. How do you tell a story about the stock market? Let's get back to the story about J.P. Morgan, Tiffany, and price discovery.

☆ Tesla's set to grow its lead in the electric car race despite its worrying demand slump, Morgan Stanley says
▼ + stars: | 2022-12-29 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

But Elon Musk's automaker remains poised to lead the EV race in 2023, Morgan Stanley said this week. EV supply outpacing consumer demand next year will benefit Tesla. Tesla will "widen its lead in the EV race" next year, Adam Jonas said. Even with the increased competition, Tesla may be in a position to extend its lead in 2023, Jonas wrote. All automakers, Tesla included, have struggled to get the cost of their EVs down.

☆ Top analyst cuts Tesla price target while projecting it will 'widen its lead' in EVs
▼ + stars: | 2022-12-29 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Morgan Stanley's Adam Jonas cut his price target on Tesla to $250 per share from $330, citing weaker demand for electric vehicles, but kept his overweight weighting on the stock. Tesla's stock is down 68% year to date, and 42% in December alone. Tesla appears to be responding to the weaker demand by slowing the rollout of its cars. However, the weaker market for electric vehicles is a bigger threat to Tesla's competitors than Musk's company, Jonas said. "On a relative basis, the reiteration of our OW rating must be seen vs. more challenged EV-related peers such as EW-rated Fisker (FSR), UW-rated Lucid (LCID), and UW-rated QuantumScape (QS)," Jonas wrote.

[1/7] Bolivian opposition leader Luis Fernando Camacho receives a medical evaluation following his detention, at an undisclosed location in this image released December 28, 2022. Former President Morales said on Wednesday he hoped Camacho's detention would bring justice after three years. There was an uneasy calm Thursday in Santa Cruz, where signs of damage were visible after protests Wednesday ended with a fire set to the Santa Cruz prosecutor's headquarters. Public Works Minister Edgar Montano said on Twitter his house in Santa Cruz had been set on fire and robbed. The federal prosecutor's office said it would seek the "harshest punishment" for those responsible for damages in Santa Cruz.

Search resuls for: "Adam J"

25 mentions found