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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's a black eye for the FTC, says Wedbush's Dan Ives on FTC losing bid to pause Microsoft dealWedbush's Dan Ives joins 'Last Call' to his take on the FTC losing its bid the pause the Microsoft-Activision merger.
Persons: Wedbush's Dan Ives Organizations: FTC, Microsoft, Activision
The takeaway from Thailand’s general election in May was clear: Voters had dealt a crushing blow to the ruling military junta by supporting a progressive party that challenged not only the generals but also the nation’s powerful monarchy. The generals and their allies responded on Thursday by rejecting the party’s leading candidate for prime minister, tipping the country into a political void and potentially thrusting it further toward autocracy. Parliament failed to elect a new prime minister on Thursday evening after the progressive candidate, Pita Limjaroenrat, was unable to muster enough support in the military-backed Senate, where lawmakers are loyal to the generals who have governed Thailand since seizing power in a coup nearly decade ago. As night fell over a rainy Bangkok, one of Southeast Asia’s most important economies was staring down what looked like another intense period of political unrest and nationwide protests.
Persons: Pita Limjaroenrat Locations: Thailand, Bangkok
Thailand inched closer to political gridlock on Thursday as politicians gathered in Parliament to vote for the next prime minister with no clear victor in sight. The leading candidate, Pita Limjaroenrat, a charismatic young progressive, was dealt a major setback on the eve of the vote when Thailand’s Election Commission asked the Constitutional Court to suspend him from Parliament. Mr. Pita, who scored a major political victory over the ruling military junta and its royalist allies during the general election in May, has been under investigation for allegedly owning undeclared shares in a media company. On Wednesday, the Court also said that it had accepted a complaint against Mr. Pita over his calls to amend a law that harshly penalizes criticism of the Thai monarchy. Neither blow stopped Move Forward, Mr. Pita’s party, and other coalition members from nominating him for prime minister on Thursday morning.
Persons: Pita Limjaroenrat, Pita Locations: Thailand, Thai
Headline inflation eased to just 3% in June, marking the lowest inflation reading in 2 years. Core inflation, meanwhile, posted a year-per-year increase of 4.8% last month, below the expected 5%. Meanwhile, core CPI, which excludes volatile food and energy prices, rose 4.8% year-per-year, below economists' estimates of a 5% increase. The AI revolution is here and will spark a 15% rally in tech stocks, according to Wedbush's Dan Ives. A recession is looking less likely as inflation cools and the job market stays resilient, according to top economist Paul Krugman.
Persons: Neil Birrell, Ray Dalio, Wedbush's Dan Ives, Paul Krugman Organizations: Service, of Labor Statistics, Federal Locations: Wall, Silicon
Interest in Meta's Threads app won't last, Wedbush tech analyst Dan Ives said. The analyst said he'd rather "eat broccoli for the full day" than use the Twitter rival. The app will have to change its news feed and address concerns about censorship to stay relevant, Ives said. Twitter might not have anything to worry about after all — at least when it comes to longterm competition from Meta's new Threads app, according to Wedbush tech analyst Dan Ives. The tech analyst said in a previous interview with Yahoo Finance that he'd "rather eat broccoli for the full day than be on Threads" after experimenting with the app for about six to seven hours.
Persons: Dan Ives, he'd, Ives, Elon Musk, Mark Zuckerberg's, Zuckerberg, Musk, Walter Isaacson Organizations: Morning, Twitter, Yahoo Finance
Rivian's stock has been on fire lately, hitting the highest levels in 2023 this week. The EV maker's market capitalization almost doubled in two weeks to reach $23.2 billion on Monday. Wedbush Securities has upgraded Rivian's price forecast from $25 to $30 as a show of confidence in the firm. But on Monday, the shares hit a 2023 high of $26.61, with the price surging almost 100% from two weeks earlier. In other terms, Rivian's market capitalization almost doubled in the two weeks through Monday to $23.2 billion.
Persons: Rivian, Dan Ives, RJ Scaringe Organizations: EV, Wedbush Securities, Service, Wall, Bloomberg, Amazon Locations: Wall, Silicon
A.I. is having a 1995 moment, says Wedbush's Dan Ives
  + stars: | 2023-07-11 | 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 EmailA.I. is having a 1995 moment, says Wedbush's Dan IvesDan Ives, Wedbush analyst, joins 'Closing Bell' to discuss his tech playbook ahead of earnings season.
Persons: Wedbush's Dan Ives Dan Ives
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRivian is in the early days of a massive growth story, says Wedbush's Dan IvesDan Ives, Wedbush managing Director, joins 'Last Call' to discuss his bullish take on Rivian.
Persons: Wedbush's Dan Ives Dan Ives, Wedbush
The Rivian story is "finally" turning around after several difficult quarters, according to Wedbush. The firm maintained its outperform rating on shares while raising its price target to $30 from $25. Ives said the company is "seeing light at the end of the tunnel" after several quarters with overhangs including production and supplier issues. "We continue to strongly believe in the Rivian long-term story … making this a table pounder at current levels," said Ives. Shares are up 17.3% in 2023, but remain in the red by more than 31% over the last 12 months.
Persons: Daniel Ives, Ives, Rivian, — CNBC's Michael Bloom Organizations: Rivian Locations: Europe, U.S
Of all the things that could inflame tensions in a region that could someday be a theater of war between superpowers, the movie “Barbie” was not an obvious catalyst. The authorities in Vietnam this week banned the upcoming Greta Gerwig film over a map in “Barbie” that they said shows a Chinese map of territory in the South China Sea, where the two neighbors have competing claims. The Philippines, another Southeast Asian country that disputes China’s territorial claims in the sea, is now deciding whether to ban the star-studded film as well. And Vietnam said on Thursday that it was investigating a South China Sea map on the website of a company promoting Blackpink, a K-pop band scheduled to perform in Hanoi this month. But Vietnam’s responses make more sense if they are viewed within historical and political contexts.
Persons: Barbie ”, Greta Gerwig Locations: Vietnam, South China, Philippines, China, Hanoi
Rivian stock extended its two-day gain to 19% on Friday after Wedbush increased its price target. Wedbush said Rivian is seeing a turnaround in its EV production and should reach its 50,000 delivery target this year. Wedbush analyst Dan Ives highlighted the company's second-quarter production results of 13,992 vehicles, which helped fuel "an impressive" delivery number of 12,640 vehicles. But according to Ives, the production problems Rivian faced should mostly be over. Another growth driver for Rivian is its partnership with Amazon, which centers around the delivery of 100,000 electric delivery vans by 2030.
Persons: Wedbush, Rivian, , Dan Ives, Ives Organizations: Service, Rivian, Amazon Locations: Europe, Munich, Berlin, United States
Zuckerberg's latest not-quite-innovation comes in the form of Threads, an Instagram-based Twitter competitor. Musk, meanwhile, replied with a laughing emoji to a Tweet saying that Threads was a straight copy-and-paste of Twitter. For every copycat product that Zuckerberg has rolled out over the years to great success, others have failed to gain traction. "Despite all the frustration," Ives says, "many people start their day with coffee, brushing their teeth and looking at Twitter." Here are some notable copycat apps and features rolled out under Zuckerberg's leadership.
Persons: Mark Zuckerberg, Elon Musk, Zuckerberg, hasn't, Dan Ives, Ives, it's Organizations: Facebook, News, Meta, Twitter, Wedbush Securities, Mastodon
Two firefighters died while working to extinguish a raging fire Wednesday aboard an Italian cargo ship that was loading automobiles at Port Newark in New Jersey, the authorities said. The firefighters “made an attempt to extinguish the fire and, because of the intense heat, they got pushed back out of the area where the initial fire was,” Chief Rufus Jackson of the Newark Fire Department said in a news conference early Thursday. The firefighters who died on the ship, the Grande Costa d’Avorio, were not immediately identified. “This was a tragedy, and my heart goes out to the family of each of these members and also the Newark Fire Department,” Chief Jackson said. “We’re going to continue to work, and we’re going to continue to pray for the family of the two members who were lost tonight.”Port Authority police officers responded after 9:30 p.m. on Wednesday to a fire on a ship that was docked at Port Newark, said Lenis Valens, a spokeswoman for the Port Authority of New York and New Jersey.
Persons: , Rufus Jackson of, Jackson, “ We’re, Lenis Valens Organizations: Newark Fire Department, ” Port Authority, Port Authority of New Locations: Italian, Port Newark, New Jersey, Newark, Costa, , Port Authority of New York
The $3 trillion club won't be a lonely one for long, according to Wedbush. Last week, Apple became the first company ever to end a trading day with a $3 trillion market value . Wedbush analyst Dan Ives said in a note to clients on Wednesday that the boom in artificial intelligence means that Microsoft will soon follow. Ives said that the extra spending could be substantial, even for a company as large as Microsoft. Ives has an outperform rating on Microsoft, with a $375 price target, plying further upside of 11% from where Microsoft last closed.
Persons: Dan Ives, Ives, Redmond Organizations: Apple, Microsoft
For years, meals at the summer sun dance ceremonies on the Eastern Shoshone tribe’s lands in Wyoming were missing something that was once a staple of the sacred rituals. There was no presence of homegrown bison, an animal central to the spiritual customs and beliefs of the Shoshone and other Native Americans. Now, meals at the annual ceremonies, which have just begun for this summer, will feature bison meat that, for the first time in 138 years, was harvested from the tribe’s own lands. The multiday sacred ritual involves dancing, fasting and praying, often within a sweat lodge made from natural materials. “It’s in our DNA to have that animal around us again,” said Jason Baldes, 44, a member of the Eastern Shoshone tribe who manages its herd of bison on the Wind River Indian Reservation in Wyoming.
Persons: , Jason Baldes Locations: Wyoming
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla put an 'iron fence' around their install base after price cuts, says Wedbush's Dan IvesDan Ives, Wedbush Securities analyst, joins 'Squawk on the Street' to discuss Tesla's deliveries data in Q2, why now feels like an inflection point for Tesla bulls, and what justifies the company's year-long run-up.
Persons: Tesla, Wedbush's Dan Ives Dan Ives Organizations: Wedbush Securities
Watch CNBC's full interview with Wedbush Securities' Dan Ives
  + stars: | 2023-07-03 | 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 EmailWatch CNBC's full interview with Wedbush Securities' Dan IvesDan Ives, Wedbush Securities analyst, joins 'Squawk on the Street' to discuss Tesla's deliveries data in Q2, why now feels like an inflection point for Tesla bulls, and what justifies Tesla's year-long run-up.
Persons: Dan Ives Dan Ives Organizations: Wedbush Securities
David Tesher: Before we were forecasting a short and shallow recession, but we no longer think there’s going to be a recession. Hard decisions are being made, and that’s going to feed back into corporate growth prospects. As economic conditions slow, credit is becoming tighter and companies are defaulting at a faster pace than they have. So yes, some corporations are distressed, but this isn’t something affecting the entire market, which is what you’d associate with a broad credit crunch. Big Tech is back with a vengeanceLast year was rough for tech companies: Tech stocks fell more than 30% in 2022, while the overall market dropped 20%.
Persons: Banks, Bell, David Tesher, we’re, We’re, There’s, reevaluation, it’s, Meta, Wedbush’s Daniel Ives, Liz Ann Sonders, Charles Schwab, , Megan Horneman, Matt Egan, John LaForge Organizations: CNN Business, Bell, CNN, P, Big Tech, Tech, Apple, Nvidia, Microsoft, Verdence Capital Advisors, Nasdaq, Dow Jones, AAA, That’s, US Energy Information Administration, Wells, Investment Institute
July 2 (Reuters) - Tesla Inc (TSLA.O) on Sunday said it delivered a record number of vehicles in the second quarter, topping market estimates as price cuts and U.S. federal credits helped make its electric vehicles more affordable. "The price cuts was a smart poker move for Tesla and paying major dividends in the field especially for the China market," Dan Ives, an analyst at Wedbush Securities, said. Tesla is expected to hit record sales in China, its second-largest market after North America, despite stiff competition from market leader BYD . Tesla has cut prices starting in China since late last year, eroding its first-quarter margins. Reuters GraphicsThe company delivered 446,915 Model 3 compact cars and Model Y sport-utility vehicle, as well as 19,225 of its Model S and Model X premium vehicles.
Persons: Elon, Tesla, Dan Ives, BYD, Ives, Elon Musk, Akash Sriram, Shivani, Hyun Joo Jin, Sriraj Kalluvila, Lisa Shumaker Organizations: Tesla Inc, Refinitiv, Tesla, Wedbush Securities, Reuters Graphics, Ford, General Motors, Reuters, Thomson Locations: China, North America, United States, Shivani Tanna, Bengaluru
New York CNN —Tesla beat expectations in the second quarter of 2023, announcing Sunday it produced nearly 480,000 vehicles and delivered over 466,000. The majority of production and deliveries were the Model 3 sedan and Model Y crossover, with 460,211 produced and 446,915 delivered. In the second quarter 2022, Tesla reported 254,695 deliveries and produced 258,580. In the first quarter of 2023, Tesla produced about 441,00 vehicles and delivered about 423,000. The company will post its financial results for the second quarter on July 19.
Persons: New York CNN — Tesla, Dan Ives, Tesla, Ives, “ Price, ” Ives Organizations: New, New York CNN, Wedbush Securities, Musk &, Reuters Locations: New York
Tesla posted another record quarter for the three months to June 30, it said on Sunday. Tesla posted another record quarter for both production and deliveries in the three months to June 30. The second quarter figures are not far off double the tallies for the same period last year. Analysts at Wedbush Securities said the delivery figure was a "massive step in the right direction" for Tesla. Tesla reports its second quarter results and will hold an investor call on July 19.
Persons: Tesla, Dan Ives, Alexa St, John, It's, Ford, Tesla's, Insider's George Glover, Beatrice Nolan Organizations: Morning, EV, Street, Wedbush Securities, Tesla, Alexa, General Motors, Tesla's
Are Escalators and Moving Walkways Safe?
  + stars: | 2023-07-01 | by ( Mike Ives | Muktita Suhartono | ) www.nytimes.com   time to read: +3 min
Such walkways are known as “moving walks” to government regulators and construction companies. An escalator sits at about 30 degrees, but a moving walk’s incline is typically no more than a tenth of that. Escalators and moving walks ease the movement of billions of people through airports, shopping malls and other public spaces each year. Escalators and moving walks are widely seen as very safe. But even that figure is exceedingly small if you consider the sheer volume of escalator and moving walk trips that people take every day.
Persons: Don, Karant Thanakuljeerapat, Don Mueang Organizations: Don Mueang International, Elevator Industry, Inc, Center for Construction Research Locations: Thailand, Bangkok, United States, Australia, Queensland, Maryland
Apple stock closed above a $3 trillion valuation for the first time ever on Friday. The threshold was hit after Apple stock topped $190.73, and based on its current shares outstanding of 15.79 billion, that gives the company a valuation that is bigger than France's annual GDP. Ives said the next stop for Apple is a $3.5 trillion valuation, followed by a $4 trillion valuation that could come as soon as 2025. It took Apple 42 years from its founding in 1976 to grow to a $1 trillion valuation when it hit that threshold in August 2018. The company surpassed a $2 trillion valuation just two years later, in 2020.
Persons: , Dan Ives, Ives Organizations: Apple, Services, Service
A new tech bull market has arrived - and it's here to stay, according to Wedbush analyst Dan Ives. He said a strong earnings season next month is set to put "more fuel in the tank of this tech rally." US tech stocks have soared this year, thanks to investor excitement over the rise of artificial intelligence. We believe the stage is set for a tech earnings season put more fuel in the tank of this tech rally," Ives said in a tweet on Friday. "2q starts it the next month," Ives said in his most recent tweet, referring to the earnings season that will see companies release reports between mid-July and August.
Persons: Dan Ives, , Ives, It's Organizations: Service, Big Tech, Apple, Nvidia, Microsoft, Oracle Locations: Santa Clara
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe believe Apple hits $4 trillion market cap by 2025, says Wedbush Securities' Daniel IvesDaniel Ives, Wedbush Securities managing director and senior equity analyst, join 'Squawk Box' to discuss Apple's recent market rally as it crosses the $3 trillion market cap, what's next for the company, and more.
Persons: Daniel Ives Daniel Ives Organizations: Wedbush Securities
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