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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe EV market pricing war is a 'nightmare scenario' for investors, says Wedbush's Dan IvesDan Ives, Wedbush Securities managing director, and Gordon Johnson, GLJ Research CEO, join 'Last Call' to discuss the future of EV's as auto stock struggle to keep the pace.
More than 13,000 people have been evacuated from the western Canadian province of Alberta as dozens of wildfires burn there, officials said on Friday. About 78 active wildfires were burning across the province as of Friday morning, and 19 of them were classified as “out of control,” Stephen Lacroix, the managing director of the Alberta Emergency Management Agency, said at a news conference on Friday morning in Edmonton, the provincial capital. He called the situation “evolving and extremely fluid.”By late Friday evening, the website of the province’s wildfire agency showed that the number of active wildfires had grown to more than 100, more than a third of them out of control. A spokeswoman for the Alberta government declined to comment on Friday night, referring a reporter to the province’s website and social media pages.
May 5 (Reuters) - Lyft Inc shares (LYFT.O) tumbled nearly 20% on Friday as the ride-hailing company's strategy to claw back market share from rival Uber (UBER.N) with lower fares stoked concerns about a hit to its profit margins. At least 16 analysts slashed their price targets on a stock that has widely underperformed the market this year. The company's market capitalization was set to decline by nearly $800 million to about $3.3 billion, a far cry from the over $24 billion valuation it commanded in its 2019 stock market listing. "This looks like an Everest-like uphill battle ahead for Lyft in our opinion," said Dan Ives of Wedbush Securities. Lyft shares underperform Uber'sReporting by Aditya Soni; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Wedbush's Dan Ives, Virtus' Joe Terranova and Odyssey's Jason SnipeWedbush's Dan Ives, Virtus' Joe Terranova, and Odyssey's Jason Snipe, join 'Closing Bell' to discuss Apple's earnings report's impact on the markets and react to yesterday's Fed meeting.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTim Cook is guiding Apple through the storm, says Wedbush's Dan IvesDan Ives, Wedbush senior equity research analyst, joins 'Closing Bell' to discuss Apple's earnings report impact on the markets.
Mr. Lightfoot read the article. 2, one notch behind Mr. Lightfoot’s only No. Yet unlike songs that use a real-life story as the basis for embellishment, Mr. Lightfoot’s ballad hewed precisely to the real-life details. The weight of the ore, for example — “26,000 tons more than the Edmund Fitzgerald weighed empty” — was accurate. Decades later, Mr. Lightfoot changed the lyrics slightly after investigations into the accident revealed that waves, not crew error, had led to the shipwreck.
Tuesday's selloff in Chegg shares exposed some investors to the dark side of artificial intelligence, igniting concerns about how the latest technology craze may be putting some companies' revenue sources in danger. CHGG 1D mountain Chegg shares plummet on AI risks While Chegg may be the first shoe to drop, it's certainly not the last company set to showcase some of the risks posed by AI. Elsewhere, Deepwater Asset Management's Gene Munster sees potential risks ahead to some consulting companies known to outsource work for other businesses. Companies operating off of seat-based models, such as human resources companies, may face headwinds from declining headcount, but could benefit long term from optimizing AI, he added. To be sure, even the largest companies dominating the space and poised to prosper from AI face risks ahead.
Hail as large as baseballs fell in Texas on Wednesday, officials said, as thunderstorms whipped across parts of the American South and forecasters warned of possible damage from flying debris and flash flooding in low-lying areas over the next two days. Storms across Central Texas were producing “very large, destructive hail” early Wednesday evening, including four-inch specimens that fell over Waco, a city south of Dallas, the National Weather Service office in Fort Worth said on Twitter. Waco’s police department said that one of its officers’ cars had been hit with “baseball-size hail.” Unconfirmed reports streaming into the National Weather Service said that hail falling around Texas ranged from the size of nickels to golf balls. Forecasters said they expected the storm system to push east on Thursday and Friday, potentially producing hail in Florida and flooding along the Gulf Coast.
Big beat for Amazon: Tops profit, cloud-unit sales estimates
  + stars: | 2023-04-27 | 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 EmailBig beat for Amazon: Tops profit, cloud-unit sales estimatesHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Casey Newton, Platformer editor, Steve Kovach, CNBC tech reporter, and Daniel Ives, Wedbush Securities managing director of equity research, join the show to discuss Thursday's deluge of tech earnings.
British American Tobacco has agreed to pay more than $635 million as a penalty for selling cigarettes to North Korea through an intermediary in Singapore, in violation of American sanctions. A small portion of the amount, about $5 million, was part of a civil settlement with the Treasury Department. The rest, obtained and announced by the Justice Department on Tuesday, was the biggest in that department’s history related to sanctions on North Korea. North Korean clients paid that intermediary, which was not identified in the filing, at least $415 million through front companies over about a decade, in some cases using American banks, according to the court documents. The operation relied on “financial facilitators linked to North Korea’s weapons of mass destruction proliferation network,” Brian E. Nelson, the Treasury’s under secretary for terrorism and financial intelligence, said in the statement issued by the Justice Department.
Many in the industry, including current and former Microsoft and Amazon executives, wonder whether there's a better job for Bell. It could get intense, with Bell going toe-to-toe with Jassy and getting into disputes with Selipsky. "There were two different sets of security products and actually different security organizations that were securing the products for Microsoft," Bell said. While Bell has imported some processes from Amazon, he has introduced them with a "Microsoft flavor," by using Microsoft productivity tools, one person said. "So many decisions get made at Microsoft by looking at PowerPoints, and sometimes those PowerPoints lack details," Rashid, the former Microsoft and Amazon executive, said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMeta returns to revenue growth: Stock surges after-hours on big beatHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Nilay Patel, The Verge editor-in-chief, Daniel Ives, Wedbush Securities managing director of equity research, and Julia Boorstin, CNBC, join the show to discuss Meta's most recent quarter.
Microsoft's partnership with OpenAI has lead to a new wave of innovation in artificial intelligence. There are already early signs that the Microsoft-OpenAI partnership is paying off, analysts say. Analysts say there is still work to be done, but "Microsoft is leading this tech AI arms race." Wall Street analysts took that as a sign that Microsoft's big bet on AI is already leading to financial gains. Ultimately, Wedbush analyst Dan Ives said, "the AI story is still in the first inning," but, he said, "Microsoft is leading this tech AI arms race."
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCloud infrastructure preview: What to expect from Microsoft, Amazon, and Google earningsThe global leaders in cloud infrastructure are reporting earnings this week. Microsoft on Tuesday, Amazon and Google on Thursday. The trio, also known as "hyperscalers," are forecast to see growth slowdowns. But the sector is heating up with the introduction of artificial intelligence. Frank Holland previews their upcoming reports with Webush's Dan Ives.
What history shows: GM has reported a better-than-expected bottom line in 29 of the last 30 quarters, per FactSet. McDonald's is set to report earnings in the premarket, with management slated to hold a call at 8:30 a.m. What history shows: History shows Google's parent company beats earnings expectations 68% of the time, with the stock averaging a gain of 1.6% on earnings day, per Bespoke. Meta Platforms is set to report earnings after market close, followed by a conference call at 5 p.m. What history shows: Bespoke data shows Intel beats earnings expectations 77% of the time.
In a new note to clients, the firm looked at how the AI boom will impact the market's top tech titans. Detailed below are three ways Wedbush sees AI opportunities helping Tesla's stock in the future. Ives also has thoughts on how Musk's forays into AI can boost shares of his crown jewel: Tesla. He sees three ways its implementation can help drive stock gains in the future. "That could lead to further improvements of Tesla's supply chain by opening up limitless labor supply for production lines while improving its cost structure during a labor constrained environment," he wrote.
The wreck of a Japanese ship that sank in 1942 after it was torpedoed by an American submarine has been found, the Australian government said on Saturday. The ship was carrying hundreds of prisoners of war, most of them Australian, who all died, and the discovery resolves a painful episode in that country’s wartime history. The ship had no markings indicating that it was carrying prisoners of war and sank carrying more than 1,000 prisoners from about 16 nations, most of them Australian service members. The wreck was spotted this month on the seafloor northwest of Luzon, the largest island in the Philippines, according to Fugro, a company based in the Netherlands that provided the survey ship. The mission took five years to plan, and an autonomous underwater vehicle found the wreck after 12 days of searching, Fugro said.
At Least 2 Dead as Tornado Hits Oklahoma
  + stars: | 2023-04-20 | by ( Mike Ives | ) www.nytimes.com   time to read: 1 min
At least two people were killed as stormy weather and at least one confirmed tornado swept through a rural county south of Oklahoma City on Wednesday night, the local police said. The two deaths were recorded in or near Cole, a town of about 600 people south of Oklahoma City, Scott Gibbons, a deputy sheriff for McClain County, said by phone overnight. The authorities believe that the deaths are related to the storm, he added. Deputy Gibbons said people elsewhere in the county had also been injured, but that he did not yet know how many. The National Weather Service warned on Wednesday night that the storm’s exact path was hard to predict because it was behaving “erratically.” KWTV, a CBS affiliate in Oklahoma, aired footage of what it said was a large tornado crossing Interstate 40 in the city of Shawnee, about 40 miles east of Oklahoma City.
Elon Musk was grilled about Tesla's recent price cuts during the carmaker's earnings call. Investors and analysts questioned Elon Musk on Tesla's recent price cuts during the companies earnings call on Wednesday. The Tesla CEO answered over a half dozen questions around the company's recent price cuts and their impact on the electric-car maker's profit margin during the call. Tesla owners and investors alike have not responded positively to the price cuts. Its gross profit margin dipped just below analyst expectations to about 19.3%, with analysts blaming price cuts.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors are concerned about Elon Musk balancing his businesses, says Wedbush's Dan IvesDan Ives of Wedbush and former NASA astronaut Leroy Chiao discuss Tesla and SpaceX's spaceship launch. Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Tesla's profits took a hit in Q1 thanks to price cuts. Margins are now 'keeping Tesla investors up at night,' Wedbush analyst Dan Ives said. "Margins are now a delicate issue that are keeping Tesla investors up at night," Wedbush analyst Dan Ives wrote in a Thursday note to clients. Elon says he knows what he's doingWhile some investors angst over Tesla's price cuts, Musk defended the company's strategy in a call with analysts after earnings were released Wednesday evening. "We've taken a view that pushing for higher volumes and a larger fleet is the right choice here, versus a lower volume and higher margin," Musk said.
This is Tesla's moment of truth: Wedbush's Dan Ives
  + stars: | 2023-04-19 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis is Tesla's moment of truth: Wedbush's Dan IvesDan Ives, Wedbush Securities, joins 'Closing Bell' to discuss Tesla's upcoming quarterly earnings results, why Ives believes Tesla's margins will hold up, and more.
Prime Minister Narendra Modi launches slew of infrastructure projects from MMRDA Grounds, at Bandra-Kurla Complex, Bandra (East) on Jan. 19, 2023 in Mumbai, India. After opening a flagship store in Mumbai, CEO Tim Cook will travel to New Delhi to meet with Indian Prime Minister Narendra Modi on Wednesday. Apple's growth in India is widely seen as a success story by Modi and Indian officials. Flipkart and Amazon are dueling for the top spot in India's e-commerce market, and both face competition from newcomer Meesho. — CNBC's Steve Kovach contributed to this reportWATCH: Tim Cook visits India to open first Apple retail store
SHANGHAI, April 17 (Reuters) - China's auto market, the world’s largest, is accelerating toward an electric future – leaving established global brands stuck in the slow lane. China’s passenger car sales were down 13% in the first quarter, data from the China Passenger Car Association show. But sales of EVs and plug-in hybrids – an area where Chinese automakers led by BYD now dominate – were up 22%. BYD dominates China’s market for plug-in hybrids, cars that have a combustion engine but are capable of being charged and running for shorter distances on electric power. In a further threat to established brands, China’s exports are growing fast, led by EVs and PHEVs.
And as the Biden administration pushes changes that seek to aggressively remake the car market in favor of EVs more quickly than previously anticipated. Tesla's lowest-priced model today is the Model 3 base MSRP of $41,990. There are also more financing options available in the auto loan market designed specifically for environmentally friendly cars. "There's nothing wrong with having a basic car as a first car. Tesla said its overall efforts have driven the cost of drive units, which include the car's electric motor, as low as $1,000.
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