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☆ Tesla stock bulls and bears react to Elon Musk's $700 billion crash. Here's what Morgan Stanley, Citi and others say could happen next
▼ + stars: | 2022-11-24 | by ( Brian Evans | ) www.businessinsider.com time to read: +4 min

In fact, even a noted Tesla bear has upgraded the stock to "neutral" from "sell," saying it has likely bottomed. "We believe the year-to-date pullback has balanced out the near-term risk/reward," Citi analyst Itay Michaeli said in a note Wednesday. Here are the latest comments surrounding Elon Musk's Tesla from firms like Citigroup, Morgan Stanley and Wedbush. He has an "overweight" rating on Tesla stock with a $330 price target. Cathie Wood, Ark Investment CEOWood has been a Tesla super bull and set a price target of $4,600 earlier this year, before its stock split.

☆ Tesla shares rise on Citi upgrade, Elon Musk talk of a new factory in Asia
▼ + stars: | 2022-11-23 | by ( Lora Kolodny | ) www.cnbc.com time to read: +4 min

Tesla shares jumped almost 8% on Wednesday after hitting a 52-week low a day earlier. The rally followed an upgrade by analysts at Citi and an indication from Tesla CEO Elon Musk that South Korea is a top candidate for a new factory the company hopes to build in Asia. Some dips in Tesla shares followed massive stock sales by Musk as he liquidates in part to finance the Twitter deal. Earlier this month, Musk sold another $3.95 billion in Tesla shares, telling Twitter employees he was doing so to save the social media company. The firm still recommends buying Tesla shares and has a $330 price target.

☆ 'I have no words': Ecuadoreans celebrate historic World Cup opener win
▼ + stars: | 2022-11-20 | by ( Alexandra Valencia | ) www.reuters.com time to read: +2 min

[1/5] Fans watch the open match Qatar v Ecuador during the FIFA World Cup Qatar 2022 in Ibarra, Ecuador November 20, 2022. REUTERS/Karen ToroQUITO, Nov 20 (Reuters) - Thousands of euphoric Ecuadoreans celebrated on Sunday in various cities around the South American nation after the country's historic victory against host nation Qatar in the opening game of the soccer World Cup. The game marked the first time a host nation had been beaten in a World Cup opener. The first round of Group A games will be completed on Monday with the game between the Netherlands and Senegal. Ecuador will play again on Friday against the Netherlands, while Qatar will face Senegal.

☆ Peru airport says firetruck on arranged drill before fatal collision
▼ + stars: | 2022-11-20 | by ( Marco Aquino | ) www.reuters.com time to read: +2 min

[1/2] A view shows a LATAM airline plane following a collision between a LATAM Airlines jet and a vehicle on the runway of Peru's Jorge Chavez International Airport, in Lima, Peru November 18, 2022. REUTERS/Sebastian CastanedaBUENOS AIRES, Nov 20 (Reuters) - The operator of Peru's capital airport said on Sunday that a firetruck involved in a dramatic and fatal collision with a LATAM Airlines (LTM.SN) passenger jet had been doing a pre-arranged emergency drill. On Sunday, Lima Airport Partners, which operates the airport, said in a statement on Twitter that the firetruck had entered the runway as part of an emergency response drill coordinated between the operator and the air traffic authority. "On Nov. 18, during the morning and until the beginning of the exercise, the firefighting team made all the necessary arrangements to execute the maneuver," the airport operator said. There is authorization to carry out an exercise, but it is outside the areas that currently have transit operations," he told radio station RRP on Saturday.

☆ What the Club is watching Tuesday — more cooler inflation, Dow stock earnings, price target hikes
▼ + stars: | 2022-11-15 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +4 min

Truist raises price target on Eli Lilly (LLY) to $421 per share from $400. Club holding Procter & Gamble (PG) price target cut to $130 per share from $140 at Credit Suisse. Mizuho cuts price target on Club holding Salesforce (CRM) to $225 per share from $235. Amazon initiated with an outperform (buy) rating at MoffettNathanson, with a price target of $118 per share. Bank of America double upgrades Netflix (NFLX) to a buy rating from a sell, with a price target of $370 per share.

☆ Argentina agrees $5 bln China currency swap extension, President says
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: 1 min

BUENOS AIRES, Nov 15 (Reuters) - Argentina has agreed to expand its currency swap deal with China by $5 billion, the South American country's President Alberto Fernandez said on Tuesday, a move that would give it more firepower to defend the embattled local peso. Reporting by Eliana Raszewski; Writing by Adam JourdanOur Standards: The Thomson Reuters Trust Principles.

☆ Ford vs. GM: Same Industry, two increasingly different companies
▼ + stars: | 2022-11-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

In this article FGM Follow your favorite stocks CREATE FREE ACCOUNTJim Farley, CEO, Ford, left, and Mary Barra, CEO, General Motors Reuters; General MotorsDETROIT — "Same industry. GM has gained an edge in recent years on the back of better financials and early moves into electric and autonomous vehicles. GM most recently reported third-quarter results that, compared to Ford, knocked it out of the park. The investment cases for America's largest automakers are increasingly diverging as the companies — separated by just $1 billion in market value — have taken different tacks around electric and autonomous vehicles. Ford expects at least 40% of its sales globally to be electric vehicles by the end of this decade.

☆ Why investors have jumped off the Carvana bandwagon
▼ + stars: | 2022-11-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

He touted the company's "landmark" second-quarter results on Aug. 5, 2021 that included the used car retailer's first-ever quarterly net profit. Analyst Adam Jonas cited deterioration in the used car market and a volatile funding environment for the change. Jonas said "a deterioration in the used car market combined with a volatile interest rate/funding environment" made for a "material risk" to the company. Used vehicle prices have so far remained steady, but that may not last long, as the wholesale costs continue to decline. The average used listing price for a used vehicle is stabilizing but remains near record highs of more than $28,200, according to Cox Automotive.

☆ Gyms and at-home fitness battle for prominence this holiday season
▼ + stars: | 2022-11-11 | by ( Jack Stebbins | ) www.cnbc.com time to read: +4 min

Michael Loccisano | Getty ImagesThe fitness industry appears headed for a strong holiday season, but not everyone will see a boost. Now inflationary pressures and a post-lockdown reset look poised to benefit traditional gyms and trade-down options — threatening connected at-home fitness equipment like the products made by Peloton and Lululemon -owned Mirror. Tarlowe, who covers Planet Fitness and Lululemon, said fitness spending remains steady, even among lower-income, inflation-squeezed consumers. People are trading down and shifting more toward value, he said, "and that bodes well for Planet Fitness." Planet Fitness CEO Chris Rondeau said members are exercising more, too: six times a month versus five times a month when Planet Fitness went public in 2015.

☆ Analysts love these EV-related stocks — and give one upside of more than 100%
▼ + stars: | 2022-11-11 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

A quarter of the 75 component stocks are tech names, with materials and industrials stocks, as well as auto stocks, making up the rest. To identify the stocks that analysts are most bullish on, CNBC Pro screened the ETF on FactSet for stocks that are buy-rated by the majority of analysts covering them. Analysts also gave these stocks average potential upside of at least 20% over the next 12 months. This was hydrogen fuel cell maker Plug Power , which analysts gave a whopping average potential upside of 122%, according to FactSet. Several Big Tech stocks in the EV supply chain are also well-liked by analysts, including Apple , Alphabet and Microsoft .

☆ Lucid owners are reporting glitches like bricking and cars driving the wrong way — just as the EV startup gets production under control
▼ + stars: | 2022-11-10 | by ( Alexa St. John | ) www.businessinsider.com time to read: +10 min

Lucid hasn't yet publicly addressed the latest issues, which include reports of cars bricking or driving the wrong way. "It's critical that we maintain our competitive advantages by delivering a unique combination of hardware and software," Rawlinson told investors on a February earnings call. Insider spoke with 19 Lucid owners for this story — all of whom reported some software or hardware problems — as well as seven current former and Lucid software engineers. "If the car sits in the sun for the afternoon, DreamDrive won't read speed-limit signs," an owner in Arizona told Insider. But while Lucid has worked to service individual cars, owners told Insider, it hasn't publicly addressed these issues.

☆ Why Carvana stock dropped 97% in the past year as the auto resale success story became a used-car clunker
▼ + stars: | 2022-11-09 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

Slowing demand for used cars and high interest rates are making things difficult for Carvana. Supply chain snarls kicked off a shortage of new cars that sent buyers to the used market in droves. But now the used-car market is slowing down, dealing a blow to Carvana and other dealership chains. Carvana, known for its vehicle vending machines, chalked up the poor results to a challenging economy and slowing demand for used cars. AutoNation, the largest dealership chain in the US, issued a similar warning about used-car prices last month.

☆ Argentina's reserves under pressure again after soy export bonanza ends
▼ + stars: | 2022-11-08 | by ( Jorge Otaola | ) www.reuters.com time to read: +2 min

BUENOS AIRES, Nov 8 (Reuters) - The Argentine central bank's already depleted reserves are coming under renewed pressure, as grains exports from the South American nation have stalled following a soybean sales bonanza and a drought that is hitting wheat and corn. The country's central bank sold some $150 million on Monday, the largest daily fall in reserves since early August, traders told Reuters, adding to drops of some $368 million last week and $72 million the week before. It sold $145 million on Tuesday. Amid a slowdown in grains sales for the world's top exporter of processed soy and No. Reporting by Jorge Otaola; Writing by Adam Jourdan; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Carvana stock plummets as used car prices fall
▼ + stars: | 2022-11-07 | by ( Jennifer Korn | ) edition.cnn.com time to read: +3 min

Carvana’s fall indicates a wider trend in the used car sector, as car prices that have been elevated fall due to rising interest rates and talk of recession. Trouble for the used car world started months ago, with car prices getting so high that many customers were priced out. Shares of CarMax (KMX), the nation’s largest used car dealer, are down 50% since the start of the year. The result has been that used car prices have declined 10.6% compared to a year ago, according to the Manheim Used Vehicle Value Index, which tracks average used car prices. Now, used car companies like Carvana are dealing with the decline.

☆ South American fans bite their nails over World Cup chances - and inflation
▼ + stars: | 2022-11-06 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

That is pushing up costs from soccer stickers and jerseys to game time snacks and beer. "Prices are just too inflated," said 20-year-old Brazilian Breno Nery, who was buying popular collectible soccer stickers in a Sao Paulo mall. A pack of five stickers has doubled to 4 reais ($0.79) since the 2018 Russia World Cup. STICKER SHOCKThe World Cup will be played from Nov. 20 to Dec. 18 - late spring in the southern hemisphere, a change from the normal dates that fall in the region's winter. The World Cup even led Argentina to launch capital controls of overseas travel and spending dubbed as the "Qatar" FX rate, making travel to the Middle East nation even more expensive in local currency.

☆ Stocks making the biggest moves midday: Starbucks, Twilio, Carvana, DoorDash and more
▼ + stars: | 2022-11-04 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Check out the companies making the biggest moves midday:Starbucks — The Seattle-based coffee company jumped nearly 9% after reporting quarterly profit and revenue that topped expectations. Block — Shares jumped 10% after the mobile payments company surpassed profit and sales expectations in its third-quarter results. Block reported earnings of 42 cents per share on revenue of $4.52 billion. Coinbase — The stock jumped 3% after the company reported better-than-expected user numbers, even as Coinbase reported a miss on profit and sales expectations. The company reported earnings that topped expectations on Thursday.

☆ Carvana stock on pace for worst day ever as outlook darkens for used vehicle market
▼ + stars: | 2022-11-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Shares of the online used car retailer have plummeted by more than 95% this year, after hitting an all-time intraday high of $376.83 per share on Aug. 10, 2021. Analyst Adam Jonas cited deterioration in the used car market and a volatile funding environment for the change. Pricing and profits of used vehicles have been significantly elevated as consumers who couldn't find or afford to purchase a new vehicle opted for a pre-owned car or truck. But rising interest rates, inflation and recessionary fears have led to less willingness by consumers to pay the record prices, leading to declines for Carvana and other used vehicle companies such as CarMax . Large franchised new and used vehicle dealers such as Lithia Motors and AutoNation warned of softening in the used vehicle market when recently reporting their third-quarter results.

We're exiting our position in Marvell Technology (MRVL), selling our last 900 shares at roughly $38.86 each. Given our desire to become even more defensive around our portfolio and reduce our exposure to tech, we're making the tough decision Thursday to move on from Marvell Technology . Over the past few years, we've booked significant profits in the stock — in some cases, those gains were well above 200%. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Matt Murphy, president and CEO of Marvell Technology.

☆ VIEW Bank of England lifts UK rates to 3% in historic hike
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Toby MelvilleLONDON, Nov 3 (Reuters) - The Bank of England raised UK interest rates to 3% on Thursday in its largest rate hike since 1989 and warned of a "very challenging outlook" for the economy. Money markets showed traders now expect UK rates to peak at 4.6% by next September, compared to expectations of 4.8% just two days ago. UK bank stocks (.FTNMX301010) fell 0.8%BONDS: Yields on the two-year gilt were last up 1 basis points at 3.041%, compared with 3.064% before the BoE announced its decision. Rates markets are pricing another 50bps hike at each of the December and February meetings, although still reflect a lower terminal rate than just a week ago. ANDREW ALDRIDGE, PARTNER AT DEEPBRIDGE CAPITAL, LONDON"Quelling rampant inflation and kickstarting a slowing economy left the Bank facing a difficult balancing act, with today's interest rate hike to 3% hardly surprising in this context.

☆ Nearshoring represents 'a lifetime opportunity' to invest in Mexico, BofA says. How to play it
▼ + stars: | 2022-11-02 | by ( Fred Imbert | ) www.cnbc.com time to read: +5 min

This has already led to a manufacturing surge in Mexico and represents "a lifetime opportunity" to invest in Latin America's second-largest economy, according to Bank of America. "Nearshoring represents Mexico's best growth opportunity for the next 10 years and it is already occurring," Bank of America's Capistran said. The EWW is up 1.9% in 2022, easily outperforming the S & P 500. All five of those stocks are outperforming the S & P 500 this year, with FirstCash jumping nearly 30% and Sanmina popping 38%. PriceSmart and Ingredion are down 6.4% and 8.2%, respectively, in 2022, but that's still better than the S & P 500's 19% drop for the year.

☆ EXCLUSIVE Argentina set to permit wheat export delays amid drought - sources
▼ + stars: | 2022-11-01 | by ( Maximilian Heath | ) www.reuters.com time to read: +2 min

A government source with direct knowledge of the matter said that measures to permit wheat shipment delays were "probable". Reuters GraphicsThe country's producers have already formally declared overseas sales of 2022/23 wheat of 8.9 million tonnes, official data shows. Argentina's domestic wheat consumption from the 2021/22 harvest totaled 7.6 million tonnes. Some 2 million tonnes of wheat were left unsold from 2021/22. There is an existing export cap of 10 million tonnes for the 2022/23 season's wheat harvest.

☆ Analysis: Argentina's embattled left hopes for Lula bump. That looks a long shot
▼ + stars: | 2022-11-01 | by ( Nicolás Misculin | ) www.reuters.com time to read: +3 min

President Fernandez, powerful Vice President Cristina Fernandez de Kirchner and Economy Minister Sergio Massa, all languish on around 30% positive image, according to an October survey by pollster Ricardo Rouvier & Associates. I don't think this will change the electoral scenario in Argentina at all," political analyst Sergio Berensztein told Reuters. Lula, after his win, wore a cap in support of VP Fernandez de Kirchner. President Fernandez meanwhile said Lula would make his first overseas visit to Argentina once in office, a reversal from cool ties under Bolsonaro between the trade partners. "I think this has more to do with politicians' views than the real effect of the election on actual people," he said.

☆ Forget Tesla? Citi and HSBC name 2 alternatives to play the EV boom
▼ + stars: | 2022-11-01 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Morgan Stanley cut its price target on Tesla from $350 a share to $330 last week following the earnings release, citing unexpected headwinds in the fourth quarter and beyond. A weakening demand outlook for EVs and concerns over the impact of the Inflation Reduction Act have also already been priced in to CATL's stock price, Citi added. Battery boom HSBC has forecast demand for EV lithium-ion batteries to grow at a compounded rate of 32% into 2030. Meanwhile, Citi estimates global EV penetration will reach 55% by 2030. The bank sees global battery demand for EVs and energy storage systems to grow 62% this year and a further 29% in 2023.

☆ Honeywell CEO is wisely preparing businesses for a tougher 2023, but remains optimistic
▼ + stars: | 2022-10-28 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

"I don't think '23 is going to be a disaster, although I don't think it's going to be as robust as '22 is." The measures so far have been focused on the cost side, according to Adamczyk, who has led Honeywell since 2017. Sales for the division known as Honeywell building technologies rose 11% year over year to $1.53 billion, while performance materials and technologies revenue increased 8% to $2.72 billion. Honeywell is expected to provide a formal outlook for fiscal 2023 early next year when it reports fourth quarter 2022 earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Stocks shrug off tech's troubles as the Street awaits key inflation data next week
▼ + stars: | 2022-10-28 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The major indexes all posted gains this week despite a Big Tech beatdown, proving the market can rally without its most valuable stocks. Indeed strength in other sectors — only communication services finished down — helped the overall market to shrug off disappointing earnings results from Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN) and Meta Platforms (META). Alphabet's results fell short of the Street's expectations, but still managed to grow revenue 6% annually off a $65 billion base. (Canada's central bank hiked rates less than expected this week, opting for a 50 basis point hike instead of the expected 75.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

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