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FBI Director Chris Wray said on Friday that he has national security concerns about TikTok, per AP News. Wray warned that China could use TikTok to collect user data for espionage operations, AP News said. He added that China could collect users' data for traditional espionage operations, the news agency reported. TikTok said in June that it started routing American users' data via US-based servers owned by Oracle, per The Verge. However, BuzzFeed News reported that US user data was still being repeatedly accessed from China.
But Wray said the FBI continues to be concerned about Chinese government “talent programs” that sometimes pay American professors through secret relationships. “At the same time, you also stated, as you’ve just done, that this effort isn’t about the Chinese people or Chinese Americans. But of course, Chinese Americans are part of the U.S. society that you believe needs to be mobilized against China. He also returned to talking about Chinese government operations that have targeted Chinese Americans. “We view Chinese Americans here as being with us.
Ford CEO Jim Farley told Jim Cramer that the F-150 Lightning's abilities as a source of backup power for homes and job sites have been a real "eye-opener" for the automaker. After Hurricane Ian, Ford saw a 200% increase in people powering their homes with their F-150 Lightning vehicles. "I believe you have a winner in Ford," Jim said during Thursday's "Morning Meeting" for Investing Club members. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Apple (AAPL), Constellation Brands (STZ) and Ford Motor (F) were subject to Wall Street research on Wednesday. Club take: China's Covid-19 lockdown measures have posed a risk to Apple's iPhone manufacturing, but we believe it's a temporary one. Club take: Ford has benefitted from higher pricing power as a result of supply chain challenges impacting production. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
The Rivian R1T, Ford F-150 Lightning, and GMC Hummer EV are three very different takes on the electric truck. The Ford F-150 Lightning. But the Ford F-150 Lightning, GMC Hummer EV, and Rivian R1T couldn't be more different. F-150 LightningThe Ford F-150 Lightning. Rivian R1TThe Rivian R1T.
We can bet that they will be one-upping each other about how high they want to take fed funds, the overnight bank lending rate. They seem to want to ignore anything that's succeeded since the Fed's rate increase cycle began back in March. I think that, again, if the Fed were to wait through Christmas they would see the layoffs and the corporate failures. One thing that's for certain, the buyers of the 2-year may be more sensitive to the data than the Fed. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
NATO carrier strike groups are patrolling waters around Europe. One of the five groups operating in the area is led by the US Navy's newest supercarrier. Bush and Gerald R. Ford, the service's newest supercarrier, the British Royal Navy's HMS Queen Elizabeth, France's Charles De Gaulle, and Italy's ITS Cavour. The strike groups, which include not just carriers but their escorts as well, are carrying out routine patrol missions in the Atlantic Ocean, North Sea, and Mediterranean Sea. The Navy said in a Thursday statement on the carrier operations that each country has its own mission objectives and that it is not uncommon for multiple carrier strike groups to be deployed at the same time since NATO countries maintain a continued presence in waters around Europe.
We think the stock has been hurt by a recent update to the company's reserve quantity. While we're big fans of the company's recent corporate governance cleanup , and we expect some near-term selling pressure associated with those efforts. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
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.
CANTON, Ohio— Don Ackerman was checking on some vacant homes that his church is refurbishing when a 6-year-old boy in the neighborhood began talking about how gunfire doesn’t frighten him. “My mom tells me to stay back, because gunshots can go through the wall,” the boy said, standing in his yard strewn with bikes and toys on a recent October afternoon. “I don’t get scared at all. They’re not very loud.”
Cisco Systems (CSCO): It reports next week and we think it should deliver a decent quarter as it converts its backlog into revenue. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
For decades, businesses were allowed to deduct certain R&D expenses straight away to reduce their taxable income. Tax deductions are subtractions from taxable income while tax credits get subtracted from the amount of tax owed. Over the course of this year, companies have been making estimated tax payments that incorporate the R&D change, tax attorneys said. On the agenda: Agreeing on funding the government to avoid a shutdown, aid for Ukraine, alongside potential changes to the treatment of R&D expenses. When it comes to a potential repeal or deferral related to R&D deductibility, timing is crucial, said Shelby Ford, a tax partner at Crowe LLP, a public accounting, consulting and technology firm.
Millions more electric vehicles on the road could make the US power grid more resilient. However, energy and transportation experts say that with some planning, utilities are fully capable of handling more clean cars plugging in. Better yet, electric SUVs, trucks, and buses can strengthen the grid if deployed smartly. EVs can store energy for when it's needed mostWhen electric cars are parked (which is most of the time), their batteries can collectively become a valuable asset to the greater grid, experts say. Electric cars could do just that, he said.
Stellantis has issued a 'Do Not Drive' warning on around 276,000 vehicles, the NHTSA announced. The issue relates to a fault with Takata airbags, which can cause them to explode. Over 67 million vehicles fitted with Takata airbags have been subject to recalls over the last decade, per The NHTSA's website. Ford began replacing airbags in 2.6 million vehicles in April 2021. "Left unrepaired, recalled Takata air bags are increasingly dangerous as the risk of an explosion rises as vehicles age.
Elon Musk told Twitter advertisers he plans to offer different tiers of content moderation, per the FT.Brands have cited concerns that Musk will bring Trump back onto Twitter or change its content-moderation policies. The levels of moderation would be similar to movie age ratings, the FT reported. The day after his $44 billion purchase of Twitter went through, Musk tweeted that he would create a "content moderation council with widely diverse viewpoints." Musk, a self-proclaimed "free speech absolutist," has lambasted some of Twitter's moderation policies in the past. "TrumpIsDead" trended on Twitter on Tuesday in what appeared to be a test of Musk's moderation systems.
Ford revealed the Transit Trail, a new van specifically for the van life community. The automaker on Thursday unveiled the 2023 Transit Trail, an adventure-oriented version of its Transit commercial van. The 2023 Ford Transit Trail. The 2023 Ford Transit Trail. The 2023 Ford Transit Trail.
Ford says Transit Trail owners will have access to the Ford Pro network of upfitters and interior installers to create the interior space they desire. The Detroit automaker on Thursday revealed the 2023 Ford Transit Trail Van, a new lifted model of its full-size van equipped with all-wheel-drive and more durable, off-road parts for outdoor enthusiasts. Ford is touting the Transit Trail Van as a gateway into "van life," a community of travelers who fully or partially live in their vehicles. The 2023 Ford Transit Trail Van will go on sale in the spring, starting at $65,975. That's about $15,000 more than a base passenger Transit van.
Club holdings Wells Fargo (WFC), Ford (F) and Apple (AAPL) are in the news Wednesday, with potential implications for our investment outlook. Wells Fargo The news: Wells Fargo could initiate another round of layoffs at its home mortgage division amid a collapse in homebuyer demand, according to a CNBC report . In its fiscal-third quarter, revenue from Wells Fargo's home lending unit fell 52% year-over-year, due to lower mortgage originations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. A pedestrian walks by a Wells Fargo home mortgage office in San Francisco.
Caitlin O'Hara/Bloomberg/Getty ImagesGeneral Motors bought a self-driving company in 2016. Big talk, smaller resultsUrmson, while leading Google’s self-driving car project before founding Aurora, talked of his preteen son never needing to get a driver’s license. A self-driving car, without a steering wheel or pedals, would have to be able to drive itself in literally every situation possible. “It’s really, really hard,” Waymo’s then-CEO John Krafcik said in 2018 of self-driving technology. Companies developing lidar, widely seen as a key component for self-driving vehicles, as well as self-driving companies, have seen their stocks plummet recently.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomic slowdown will force automakers to end price hikes, predicts fmr. Ford CEOFormer Ford CEO Mark Fields give his October auto sales reaction and the impact of rising interest rates and chip shortages on the industry. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, Bonawyn Eison and Courtney Garcia.
The F-150 Lightning has had 200,000 orders and helped create a new generation of truckers. The woman rising to that challenge for Ford is Linda Zhang, the chief engineer of Ford's electric version of the F-150 called the Lightning. The electric F-150 Lightning can also be used as a power source. Towing was the other major barrier, as many potential customers feared the electric version would not have the same power as the petrol-fueled equivalent. "The significance of the F-150 Lightning in modern automotive manufacturing cannot be overstated," said the AAA's Brannon.
Here's a rundown of the price target changes we recently made in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. However, we cut our price target to $140 per share from $160, acknowledging headwinds due to rising interest rates and lower earnings estimates. We lowered our price target for the Google parent to $130 per share from $160. Microsoft (MSFT): Despite our longer-term positive view, we reduced our price target to $300 per share from $375. We said Tuesday evening that Microsoft's fiscal second-quarter guidance will likely lead to downward earnings and price target revisions from analysts on Wall Street.
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Dow climbs Earnings recap: META, HON, F, LIN Club names reporting after the bell 1. Dow stocks go higher Stocks rose Thursday, with the Dow Jones Industrial Average climbing more than 1% on news the U.S. economy grew by a 2.6% annual rate in the third quarter, beating the Dow Jones estimate of 2.3% growth. Earnings recap: META, HON, F, LIN One such company that has failed to properly manage its costs is Meta Platforms (META), which on Wednesday reported a third-quarter earnings miss and weak guidance, sending shares tumbling. Club names reporting after the bell Three Club holdings report results for last quarter on Thursday after the market closes.
Ford is shifting its priorities away from developing fully autonomous cars. CEO Jim Farley said development of the vehicles at scale was "a long way off." The shift means that Ford is closing down Argo AI, a robo-taxi startup it jointly backed with VW. "Profitable, fully autonomous vehicles at scale are a long way off," CEO Jim Farley said, in a statement published alongside the automaker's third-quarter earnings, Wednesday. A vehicle with Level 4 ADAS capability is considered to be fully autonomous and can navigate most road situations without the need for human assistance.
CNN Business —The Ford Fiesta, a hugely popular little hatchback in much of the world, will soon no longer appear in Ford’s European dealerships. That factory will be turned over entirely to producing electric vehicles once the last Fiesta comes off the assembly line, which is expected to happen in June 2023. A Ford Fiesta in Ford's European design studio in 1975. It was the best-selling small car in all of Europe each year from 2011 to 2015, according to Ford. “My first ever car and what a car it was.”Besides the fuel-efficient base model, the Fiesta has been produced in performance variants like the Fiesta ST and Fiesta XR2.
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