DIRS.INFO The most relevant business & tech news

☆ Alphabet's stock is having its worst day in a year after cloud revenue missed estimates
▼ + stars: | 2023-10-25 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +2 min

Alphabet shares fell the most in a year on Wednesday after revenue in the company's Google Cloud unit trailed analyst estimates. Its cloud miss was a stark contrast to Microsoft's earnings, which showed accelerating growth in the company's Intelligent Cloud business. Google posted cloud revenue of $8.41 billion, compared to Street Account estimates of $8.64 billion. "The disappointment at Google Cloud contrasted with better-than-expected Azure growth at Microsoft," UBS analysts said. Jefferies analysts noted Google Cloud grew 22%, slower than the 28% growth the company posted in the second quarter.

Persons: It's, Ruth Porat, MSFT, Jefferies, Jennifer Elias, Michael Bloom Organizations: Google, Microsoft, UBS, CNBC

☆ 'They're running out of time': Ukraine's counteroffensive is gaining urgency as winter approaches
▼ + stars: | 2023-10-25 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +10 min

"Despite inflicting significant losses on Russian armed forces, Ukraine's four-and-a-half-month-old counteroffensive has not achieved major territorial gains nor managed to slice through Russia's 'land bridge' to Crimea," he added. "The hope is that they're far enough through the Russian defensive lines now ... to make some rapid progress. Russian forces had months to prepare layers of defenses including extensive networks of trenches; anti-tank obstacles such as ditches and "dragon's teeth"; and minefields. Russian forces are also receiving support from artillery, attack helicopters and other aircraft, again impeding Ukraine's forces. Minefields, in particular, have disrupted Ukraine's offensive momentum and rate of advance, according to analysts at the Center for Strategic and International Studies (CSIS).

Persons: Roman Pilipey, Tursa, Yevhen, they're, Michael Clarke, John Moore, they'll, Ukraine hasn't, Clarke, Orikhiv, They'll, that's, Seth Jones, Riley McCabe, Alexander Palmer, Ukraine's, Joe Biden, Volodymyr Zelenskyy, Kevin Lamarque Organizations: AFP, Getty, Russian, L119, Armed Forces, Anadolu Agency, Royal United Services Institute, CNBC, Ukraine's Defense Ministry, Ukraine, Planet Labs PBC, Handout, Reuters, Center for Strategic, International Studies, CSIS, Ukrainian, 35th Marine Brigade, Hamas Locations: Kostyantynivka, Donetsk, East, Ukraine, Russian, Russia, Luhansk, Crimean, Kherson, Central, Eastern Europe, Crimea, Marinka, Krasnohorivka, British, Bakhmut, Dnipro, Robotyne, Zaporizhzhia, Tokmak, Melitopol, Sevastopol, Moscow, Kyiv, Ukrainian, U.S, Israel

☆ Life Time stock plummets as company spends more on premium fitness experience
▼ + stars: | 2023-10-25 | by ( Brandon Gomez | ) www.cnbc.com time to read: +1 min

Life Time Group shares plummeted 15% Wednesday after the company's third-quarter results revealed higher spending to boost the premium member experience. The cost of running its fitness centers, including new and ramping locations, rose 8.2% year over year during the quarter to $319.4 million, the company said. The program changes are an attempt to keep Life Time's affluent customer base satisfied as prices rise across the board and many consumers increasingly value premium offerings. Life Time increased its prices at many of its locations in recent years, though pricing varies by market. "We aren't taking advantage of all the different connections we have and all the different programs we have, so there is essential work being done to systematize all of that."

Persons: Bahram Akradi, —, Akradi Organizations: Time Group, Lifetime

☆ ULA targets Christmas Eve for inaugural Vulcan rocket launch, CEO says
▼ + stars: | 2023-10-24 | by ( Simona Riccardi | In Sriccardi | ) www.cnbc.com time to read: +2 min

United Launch Alliance plans to launch the inaugural flight of its Vulcan rocket on Christmas Eve, CEO Tory Bruno told CNBC's Morgan Brennan on Tuesday. The Vulcan rocket for the Cert-1 mission stands at SLC-41 during testing in Cape Canaveral, Florida, on May 12, 2023. ULA's path to the first Vulcan launch faced several delays earlier this year, including the explosion of an engine during testing by its supplier Blue Origin, previously reported by CNBC. Following the incident, Bruno told CNBC in a "Manifest Space" podcast interview that the company still planned to fly its heavy-lift rocket by late 2023. The company added a massive contract to launch Amazon's Kuiper satellites to its previously government-heavy backlog for Vulcan.

Persons: ULA, Lockheed Martin —, Bruno, Tory Bruno, CNBC's Morgan Brennan, Vulcan's, ramping, — CNBC's Morgan Brennan, Michael Sheetz Organizations: Boeing, Lockheed, CNBC Technology, Summit, United Launch Alliance, Vulcan, Cert, SLC, CNBC Locations: Cape Canaveral , Florida

☆ Euro zone PMI hits lowest in nearly 3 years, stirs recession worries
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +3 min

HCOB's flash euro zone Composite Purchasing Managers' Index (PMI), compiled by S&P Global and seen as a good guide to overall economic health, fell to 46.5 in October from September's 47.2, its lowest since November 2020. "In the euro zone, things are moving from bad to worse," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank. "We wouldn't be caught off guard to see a mild recession in the euro zone in the second half of this year with two back to back quarters of negative growth." While the 20-country euro zone will narrowly dodge a recession, according to a recent Reuters poll, the economy was expected to have only flatlined last quarter and will do the same again in the current one. The composite employment index fell to 49.4 from 50.8.

Persons: Sarah Meyssonnier, Cyrus de la Rubia, Rubia, Jonathan Cable, Hugh Lawson Organizations: Carrefour, REUTERS, P Global, Hamburg Commercial Bank, Service, PMI, Reuters, Thomson Locations: Montesson, Paris, France, September's, Hamburg

☆ Japan probes Google for alleged antitrust violations in search practices
▼ + stars: | 2023-10-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The regulator is also examining whether Google services are prioritized on Android phones. The Japan Fair Trade Commission said it is examining whether Google made agreements with Android smartphone makers to share search ad-related revenue on the condition that the device manufacturer does not install a rival search engine. Japan's competition watchdog on Monday said it is investigating Alphabet -owned Google for alleged antitrust law violations in regards to its search practices on mobile platforms, ramping up regulatory pressure on the U.S. technology giant. In response, Google said Android is an "open-source platform that has enabled a diversity" in partners and device manufacturers. The EU said Google unfairly favored its own services by forcing smartphone makers to pre-install Google apps Chrome and Search in a bundle with its app store, Google Play.

Persons: CNBC's Lauren Feiner Organizations: Google, Japan Fair Trade Commission, Japan FTC, CNBC, European Union, EU, U.S . Department of Justice Locations: Japan, EU, U.S

☆ 5 ways to stay objective and clinical when investing in a riskier stock market
▼ + stars: | 2023-10-23 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

We also look for a solid balance sheet with a close eye on the net debt (preferably net cash) level. Net debt is simply total debt minus cash and cash equivalents. If it is a negative number, that's a net cash position. Having a net debt position isn't a deal breaker, but we do need to ensure there are no large debts coming due on the horizon. Amazon (AMZN) is expected to have gone from a net debt position to a net cash position during the third-quarter.

Persons: Jim Cramer, Jamie Dimon, Jerome Powell, Janet Yellen, Eli Lilly, Morgan Stanley, Jim Cramer's, Jim, Brendan Mcdermid Organizations: Apple, Microsoft, Companies, Procter, Gamble, Costco, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange Locations: Iran, Russia, China, U.S, East, Ukraine, Taiwan, New York City

☆ Rising yields may pressure BOJ to consider raising newly set cap
▼ + stars: | 2023-10-23 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

The BOJ remains a global outlier having maintained ultra-loose monetary stimulus even as major central banks elsewhere rapidly raised interest rates to fight rampant inflation. Meanwhile, rising U.S. bond yields are pulling their Japanese counterparts higher, complicating the BOJ's task of keeping local interest rates low. Among ideas that could be discussed would be to raise the ceiling for the 10-year bond yield beyond 1.0%, or steps that water down the BOJ's commitment to defend a set yield level, the sources said. "If the 10-year JGB yield rises to around 0.9%, the BOJ may need to take action," such as by raising the 1% cap, she added. In a Reuters poll in September, most analysts said they expect the BOJ to abandon YCC by the end of 2024.

Persons: Issei Kato, BOJ, YCC, Kazuo Ueda, Naomi Muguruma, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Ueda, Leika Kihara, Sam Holmes Organizations: Bank of Japan, REUTERS, Treasury, Nikkei, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, YCC, Thomson Locations: Tokyo, Japan, TOKYO

☆ VIEW Chevron to buy Hess Corp for $53 bln in all-stock deal
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +4 min

A 3D printed natural gas pipeline is placed in front of displayed Chevron logo in this illustration taken Feb. 8, 2022. The transaction might also create a peculiar coexistence of the United States' two leading oil majors in Guyana... Hess is geared towards crude production, with oil accounting for 60% of its current output which fits in very nicely with Chevron's similarly oil-focused portfolio. On the deal itself, the Chevron-Hess merger is expected to have a significant impact on the shale oil industry with Chevron becoming the second-largest shale producer in the United States. The merger is also likely to lead to increased M&A and industry consolidation in the North America shale sector.

Persons: Dado Ruvic, bode, Hess, John Hess, PETER MCNALLY, VIKTOR KATONA, KPLER Hess, Chevron, ROBIN HELANDER, Seher Dareen, Ron Bousso, Dmitry Zhdannikov, Mark Potter Organizations: Chevron, REUTERS, Chevron Corp, Hess Corp, Exxon Mobil, ROYAL, Third, Natural Resources, Hess, Thomson, & $ Locations: Guyana, Chevron, North Dakota, United States, North America

☆ Earnings playbook: How to trade a busy week of reports from companies including Microsoft and Meta
▼ + stars: | 2023-10-22 | by ( Fred Imbert | ) www.cnbc.com time to read: +12 min

Tuesday General Motors is set to report earnings before the bell, followed by a call at 8:30 a.m. Coca-Cola is set to report earnings in the premarket, with a call slated for 8:30 .am. Wednesday Boeing is set to report earnings in the premarket, with leadership scheduled to hold a call at 10:30 a.m. Ford Motor is set to report earnings after the bell, followed by a conference call at 5 p.m. This quarter: The e-commerce giant is expected to report earnings per share growth of more than 100%, according to LSEG.

Persons: Michael Wayland, they'll, Andrea Teixeira, MSFT, Jordan Novet, GOOGL, Justin Post, MRK, Goldman Sachs, Chris Shibutani, Keytruda, Ford, AMZN, Doug Anmuth, — CNBC's Michael Bloom Organizations: Big Tech, Microsoft, Meta, Wall, CNBC, GM, LSEG, United Auto Workers, Investment Group, Coca, U.S, Activision, Wednesday Boeing, Boeing, Management, Bank of America, IBM, Merck, Ford, UAW, Detroit, JPMorgan Locations: Missouri, EVs, China, Apptio

China's decision may escalate trade disputes globally and spur other countries to prioritize research into alternative sources and materials, industry executives said. "We see China's move as a potential catalyst to highlight the urgency of improving (U.S.) graphite supply," said John DeMaio, president of Graphex Group's (6128.HK) graphene division. It has graphite supply deals with Syrah Resources (SYR.AX) and is looking for other sources, DeMaio said. Synthetic graphite could account for nearly two-thirds of the EV battery anode market by 2025, Benchmark Mineral Intelligence estimates. Chief Operating Officer Hans Erik Vatne told Reuters recently that developing synthetic graphite production is costly, but that is the price to pay to reduce reliance on China.

Persons: Fabian Bimmer, John DeMaio, Graphex Group's, DeMaio, Tesla, Hans Erik Vatne, Rob Anstey, Alvin Liu, Akash Sriram, Ernest SCheyder, Nick Carey, Christina Amann, Marie Mannes, Gilles Guillaume, Ilona Wissenbach, Ben Klayman, Josie Kao Organizations: Volkswagen, REUTERS, Syrah Resources, Magnis Energy Technologies, Mineral Intelligence, Reuters, EVs, BMO Capital Markets, BMW, Volvo, Renault, General Motors, Ford, Thomson Locations: Salzgitter, Germany, China, Warren , Michigan, West, U.S, Europe, Oslo, Norway, Bengaluru, Houston, London, Berlin, Stockholm, Paris, Frankfurt

casey newton[CHUCKLES]:: And it would be so funny if the AI actually already was deceptive and was just like, oh, yeah, Kevin, you’ve already figured us out. But I also think it’s part of this sort of undercurrent of the conversation, especially around AI right now. Marc Andreessen — he is clearly so angry at all of the people who criticize technology, technology companies, tech investors. And he is just really, really going after that crowd with this piece. brent sealesYou know I don’t really know.

Persons: kevin roose Casey, casey newton What’s, kevin roose, casey newton, hasn’t, kevin roose I’m, I’m, KEVIN, casey newton Yes, Kevin Roose, ” casey newton, Casey Newton, Marc Andreessen, Casey, we’ve, kevin roose Totally, Claude chatbot, Claude, Anthropic’s, chatbot, Anthropic hadn’t, Anthropic, Kevin, — they’re, roose, Meta, it’s, I’ve, Bard, casey newton It’s, there’s, you’ve, casey newton Yeah, didn’t, Kevin — I’m, it’ll, Kevin —, Andreessen Horowitz, Uncle Marc, ”, “ you’re, Tucker Carlson, Jesus Christ, casey newton Well, kevin roose Oh, he’s, McCarthy, —, Nick Land, casey newton Totally, You’re, Daron Acemoglu, Simon Johnson, It’s, Marc Andreessen —, they’re, Nietzschean supermen, Nietzschean, Marc, casey newton Heck, Andreessen, Marc Andreessen decries, Marc Andreessen’s, CASEY, kevin roose That’s, you’re, Nat Friedman, who’s, Daniel Gross, John, Patrick Collison, Toby Lutke, Shopify, Aaron Levie, Brent Seales, — casey newton, There’s, Luke Farritor, ” brent seales, brent seales, that’s, Seales, haters, brent seales That’s, you’ll, casey newton Yep, brent seales —, brent seales We’d, brent seales They’re, They’re, Luke, Brent, brent seales Pliny, Elder, Jesus, brent seales What’s, casey newton Right, we’re Organizations: YouTube, The New York Times, Facebook, Google, Intelligence, America, AIs, Stanford, Communist, Netscape, Fox News, Communist Party, Technology, Venture, Twitter, acc, kevin roose Venture, Companies, Meta, University of Kentucky, British Locations: ”, Anthropic, China, Florida, California, United States, Europe, Romanian, interpretability, Valley, America, Silicon, Silicon Valley, Vesuvius, Rome, Greece, Herculaneum, Venice, Roman

☆ Here are Friday's biggest analyst calls: Nvida, Amazon, SolarEdge, Sunrun, IBM, Crocs, Meta, Disney & more
▼ + stars: | 2023-10-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Bank of America reiterates Meta as buy Bank of America said it's bullish heading into earnings next week. UBS upgrades Merck to buy from neutral UBS said Merck has an "undemanding" valuation and robust pipeline. UBS reiterates Ralph Lauren as buy UBS said the stock is best positioned for AI. UBS reiterates McDonald's as buy UBS said the stock remains attractively valued. Bank of America reiterates IBM as buy Bank of America said it's standing by its buy rating heading into earnings next week.

Persons: JPMorgan, Jefferies, Goldman Sachs, Goldman, it's, Merck, Stephens, Ralph Lauren, McDonald's, Cognizant, TSMC, Deutsch, Redburn, Raymond James Organizations: JPMorgan, Nvidia, Disney, Bank of America, Meta, UBS, Merck, Deutsche Bank, Union Pacific, Deutsche, IBM, Citi, Taiwan Semiconductor, Management, Deutsche Bank downgrades, Microsoft, Brands, Mattel, Disney Princess, of America Locations: China

☆ Deductions for megamansions and Ferraris: The IRS details tax dodges by the ultra-wealthy and says it recently squeezed 100 millionaires for $122 million in missing taxes
▼ + stars: | 2023-10-20 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

There's more enforcement to come, thanks to the Inflation Reduction Act. The passage of the Inflation Reduction Act infused billions of dollars into the previously perpetually underfunded and paper-laden IRS. "Inflation Reduction Act funding gives us the ability to take swift and aggressive action to improve compliance and close the tax gap." Since the passage of the IRA, the IRS has closed several cases of high-earning taxpayers getting creative with their business expenses and deductions. The IRS is specifically taking aim at Americans who earn over $1 million, and have over $250,000 in tax debt.

Persons: it's, —, Daniel Werfel, That's, Werfel Organizations: IRS, Service, dodgers, Ferrari, Bentley, Lamborghini Locations: COVID

[1/4] Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. To prevent demand from waning, market leader Tesla, with industry-leading profit margins, has been the first and most aggressive in slashing prices, forcing others to follow suit and squeezing margins. "If interest rates remain high ... it's that much harder for people to buy the car. They simply can't afford it," Musk said, adding he would "accelerate" expansion of the Mexico factory if interest rates come down. That is not expected in the United States until June 2024, based on current market estimates , with recent robust economic data suggesting the central bank might leave interest rates higher for longer.

Persons: Aly, Elon Musk, Musk, Tesla, Ford, Tom Narayan, Narayan, Abhirup Roy, Ben Klayman, Jamie Freed Organizations: REUTERS, FRANCISCO, Wednesday, General Motors, Ford, EV, GM, Chevrolet Silverado, GMC, Air, RBC Capital Markets, Reuters, Thomson Locations: China, Shanghai, Mexico, Michigan, Detroit, U.S, United States, San Francisco

Tesla's Cybertruck is displayed at Manhattan's Meatpacking District in New York City, U.S., May 8, 2021. REUTERS/Jeenah Moon/File Photo Acquire Licensing RightsOct 18 (Reuters) - Tesla (TSLA.O) CEO Elon Musk on Wednesday warned of difficulties in ramping up production of the automaker's much-awaited Cybertruck electric pickup truck and announced that deliveries would begin on Nov. 30. The Cybertruck is expected to challenge Rivian's (RIVN.O) R1T, Ford's (F.N) F-150 Lightning and General Motors' (GM.N) Chevrolet Silverado EV in the hot market for electric pickup trucks. Musk said he wanted "temper expectations" for the truck, adding the company could face "enormous challenges" in ramping up production and making it cash-flow positive. "But I think that they're giving us an indication of the capacity they're going to make available for the Cybertruck as production ramps up."

Persons: Elon Musk, Rivian's, Musk, Tesla, Seth Goldstein, Akash Sriram, Jamie Freed Organizations: Meatpacking, REUTERS, General Motors, Silverado EV, Morningstar, EV, Thomson Locations: New York City, U.S, United States, Texas, Bengaluru

☆ From a likely recession to a weakening shekel, here's how the conflict with Hamas is impacting Israel's economy and markets
▼ + stars: | 2023-10-19 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

The conflict with Hamas that began October 7 will have widespread financial implications for Israel. A top Israeli economist said a recession in Israel is likely, and Fitch put the country's credit rating on watch for downgrade. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Yet in less than two weeks, Israel's shekel has weakened about 4.8% to hit multi-year lows against the dollar. The Financial Times reported Tuesday that Bank of Israel deputy governor Andrew Abir said policymakers would prioritize stabilizing the currency over growth.

Persons: Fitch, —, Joe Biden, Benjamin Netanyahu, Joseph Zeira, Zeira, Israel's shekel, Andrew Abir, Lee Hardman Organizations: Hamas, Service, Tel, Israel's Defense Forces, Hebrew University, CNBC, Bank of Israel, Traders, Deutsche Bank, Financial Times, MUFG Bank Locations: Israel, Palestinian, Tel Aviv, Gaza, Israeli, Iran

☆ Russia moves its combat dolphins closer to the frontline to defend against Ukrainian special forces, report says
▼ + stars: | 2023-10-19 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

Russia moved its trained dolphin force to a different part of the Black Sea, Naval News reported. It comes at a time when Ukraine is ramping up attacks on Russian naval assests in the Black Sea. AdvertisementAdvertisementRussia has moved its navy-trained dolphins closer to where fighting is happening in the Ukraine war, Naval News reported on Wednesday. The pens were initially spotted in the summer around Sevastopol, a major port on the Black Sea. Ukraine has become an increasingly threatening force in the Black Sea after it launched multiple attacks using underwater sea drones.

Persons: — Organizations: Naval News, Service, Naval, United States Naval Institute, UK Ministry of Defence Locations: Russia, Novoozerne, Ukraine, Crimea, Sevastopol

☆ Coinbase picks Ireland as main EU hub amid Europe expansion
▼ + stars: | 2023-10-19 | 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 EmailCoinbase picks Ireland as main EU hub amid Europe expansionPaul Grewal, Coinbase’s chief legal officer, discusses why the company is ramping up presence in Ireland amid a key piece of European crypto regulation.

Persons: Coinbase, Paul Grewal Organizations: EU Locations: Ireland

China is ramping up its diplomatic efforts in the Israel-Hamas conflict, with President Xi Jinping issuing his first public comments on the war and calling for a cease-fire. These increased diplomatic efforts show that China is seeking a quick end to the conflict, which started Oct. 7 after Hamas launched a brutal surprise attack on Israel, killing more than 1,400 people. Cartoons on Ukraine and Russia View All 104 Images"It's a very cost-effective strategy in the Middle East. China has vested economic interests in the Middle East given its oil imports from the region. The efforts also highlights ongoing attempts from China to be seen more broadly as a peacemaker and a prominent influence among international groups and developing countries.

Persons: Xi Jinping, Mostafa Madbouly, Xi “, Xi, Zhai Jun, it’s, Mor, Axios, Sobol, Antonio Guterres, ” Organizations: Egyptian, Chinese Foreign, Chinese Foreign Ministry, Hamas, Tamkang University, U.S, United Nations Locations: China, Israel, Beijing, State, Palestine, Egypt, Gaza, Taiwan, Ukraine, Russia

☆ Here are Thursday's biggest analyst calls: Tesla, Netflix, Best Buy, Amazon, First Solar, Disney & more
▼ + stars: | 2023-10-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

"Based on our analysis, we see FIS as undervalued at 9x '24 P/E and upgrade to Overweight from Equal Weight." "We upgrade shares of KTB to Buy from Neutral and see 22% upside to our new $56, 12-month price target. Goldman Sachs upgrades Best Buy to buy from neutral Goldman said it sees multiple expansion for the electronic retailer. Can a 'growth stock' work if earnings don't grow in 2024? JPMorgan upgrades First Solar to overweight from equal weight JPMorgan said it sees an attractive entry point for the solar company.

Persons: Goldman Sachs, Goldman, Lee, Morgan Stanley, Tesla, Oppenheimer, it's bullish, Jefferies, CrowdStrike, we've, outperforming ytd, Bernstein, Disney, Wells Organizations: Street, Barclays, Fidelity National Information Services, Brands, Nike, Netflix, Disney, ESPN, Citi, Microsoft, UW, NA, Deutsche Bank, Starbucks, Deutsche, Bank of America, of America, JPMorgan Locations: destocking, Mexico, Wells Fargo, China, OW, Aptiv

☆ Tesla's Cybertruck is almost here — but don't bet on it being affordable
▼ + stars: | 2023-10-19 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

In 2021, all that information vanished from Tesla's website, leaving future customers in the dark about their dream truck's eventual price. AdvertisementAdvertisementMusk tempers expectations about an affordable CybertruckOn Tesla's earnings call on Wednesday, Musk attempted to dispel any expectations of an accessible Cybertruck — at least initially. The more trucks Tesla can churn out of its Texas Gigafactory, the cheaper it can sell each one for. And Musk said he foresees "enormous challenges" in ramping up Cybertruck production, mainly because the unusual truck requires new manufacturing processes. Tesla's website says the Cybertruck will offer up to 500 miles of range and hit 60 mph in a brisk 2.9 seconds.

Persons: Tesla, it's, —, Elon, It's, Musk, Ed Kim, AutoPacific Organizations: Service, GMC Hummer Locations: Texas

At the Belt and Road Forum in Beijing, United Nations Secretary-General Antonio Guterres called for an immediate humanitarian ceasefire. “China is endeavoring to build itself into a stronger country and rejuvenate the Chinese nation on all fronts by pursuing Chinese modernization. World leaders, representatives and delegations from more than 140 countries – including in the Middle East and the Taliban – are attending the gathering marking one decade since the launch of Xi’s flagship Belt and Road Initiative. Beijing aims to gloss over these challenges at the gathering to project its power and laud its contributions to global development as a prime example of its superior leadership. “What has been achieved in the past 10 years demonstrates that Belt and Road cooperation is on the right side of history.

Persons: Vladimir Putin, Xi Jinping, Putin, Xi, “, Joe Biden, Antonio Guterres, “ I’m, ”, ” Xi, Kassym, Joko, laud Organizations: Beijing CNN —, Wednesday, Forum, Initiative, of, Israel, United Nations, CCTV, West, International, Hosting, Beijing –, Communist Party, Beijing Locations: Beijing, China, Russia, Israel, Europe, United States, Ukraine, Russian, Zaporizhzhia

☆ ASML is a top pick despite mixed third-quarter results, Bank of America says
▼ + stars: | 2023-10-18 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

Bank of America is confident in semiconductor equipment maker ASML Holding as a long-term play despite the company's mixed earnings report. The Dutch technology firm reported slightly weaker-than-expected net sales for third quarter and a net profit that was about in line with an LSEG consensus forecast. Those figures — €6.67 billion for net sales and €1.89 billion in net sales — represent quarter-over-quarter declines. Still, ASML reaffirmed its guidance for net sales to increase 30% year on year for 2023. ASML YTD mountain ASML stock.

Persons: Didier Scemama, ASML, — CNBC's Michael Bloom Organizations: of America, ASML, Bank of America Locations: Dutch, China

☆ Morning Bid: China data beat overshadowed by Mideast foreboding
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Lisi Niesner/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Wayne Cole. The latest batch of economic data from China surprised by beating forecasts, but was unfortunately overshadowed by fears of a widening conflict in the Middle East following the Gaza hospital blast. Perhaps more importantly retail sales and industrial output for September topped estimates, which might mean Beijing's stimulus steps were finally bearing fruit after months of disappointment. The implications for inflation were another headache for bonds, which were still smarting from Tuesday's red-hot U.S. retail sales report. JPMorgan responded by ramping up its forecast for U.S. third quarter GDP growth to an annualised 4.3%, implying nominal growth of more than 7%.

Persons: Lisi Niesner, Wayne Cole, Joe Biden's, Brent, ramping, Fed's Waller, Williams, Bowman, Harker, Jacqueline Wong Organizations: REUTERS, JPMorgan, U.S, Bank of Japan, Netflix, Norges Bank, EU, Fed, Thomson Locations: Israeli, Lebanon, Israel, Wayne, China, Gaza, millstone, Iran, Hormuz, Asia, Cook

Search resuls for: "Ramping"

25 mentions found