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Elon Musk could turn around Tesla's 'trainwreck into a brick wall," Wedbush's Dan Ives said. But better days ahead will hinge on Musk reining in his distractions and retaking control, Ives said. AdvertisementTesla may be able to turn things around after seeing a "nightmare" first quarter, according to Wedbush's Dan Ives. That's made the first quarter an "unmitigated disaster" for Tesla, Ives said in a recent note, also describing the last quarter as a "black eye" and a "trainwreck into a brick wall" for Tesla. In terms of 1Q, this was just a massively soft quarter," Ives said to BNN Bloomberg on Wednesday.
Persons: Elon, Wedbush's Dan Ives, Tesla, Ives, , That's, We've, BNN, It's, Elon Musk's, Musk, Wedbush, Wells Organizations: Service, Tesla, BNN Bloomberg, Elon, JPMorgan Locations: China, Texas, Delaware, Wells Fargo
Tesla engineers are jumping ship to Elon Musk's AI startup, The Information reported. The report follows Musk's drive to gain more control over Tesla's AI strategy. Musk accused OpenAI of "aggressively recruiting Tesla engineers with massive compensation offers." He added he had been raising salaries for those on Tesla's AI engineering team in response. At the time, Dan Ives of Wedbush Securities said Musk's comments sparked a "firestorm."
Persons: , Elon Musk's xAI, Ethan Knight, Knight, Musk, gunning, Dan Ives, Ross Gerber Organizations: Elon, xAI, Service, Tesla, Business, Big Tech, Wedbush Securities Locations: xAI
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple would be a 'horror show' if it 'actually spent money on robots', says Wedbush's Dan IvesHosted 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.
Persons: Wedbush's Dan Ives, Brian Sullivan, Organizations: CNBC
Since 2020, Clean Energy Transition has been short Tesla's stock, meaning Lekander's firm will profit if the automaker's shares fall. Lekander has taken his bearish Tesla call further, suggesting the stock could fall to $14 per share. watch nowIf Tesla's stock hit $14, that would represent around 91% downside from Tuesday's close. Analysts at HSBC and TD Cowen cut their price targets on Tesla's stock on Wednesday. Cathie Wood's Ark Invest bought Tesla stock for some of its funds this week ahead of the first-quarter delivery numbers in a sign of support.
Persons: Elon Musk, Tesla, Antonio Masiello, shorting, Lekander, Tesla's, that's, Richard Windsor, Windsor, Dan Ives, Ives, TD Cowen, Cathie Wood, Tom Narayan, CNBC's Organizations: Fratelli, shorting Elon, CNBC, Wednesday, Clean, Lansdowne Partners, Volkswagen, Radio Free Mobile, Wedbush Securities, HSBC, Invest, RBC Capital Markets Locations: Italy, Rome
It was so strong it set off tsunami warnings in Japan, China and the Philippines. But then, even in a fault-riddled place with long and hard experience with earthquakes, the jolt of aftershock after aftershock was startling, continuing every few minutes throughout the day. The magnitude-7.4 quake killed nine and injured at least 1,011 others, stretching an expert quake response system that has served as a model in other places. In Hualien County, close to the epicenter, 71 people were trapped in two mining areas as of Wednesday night and dozens of others were stranded, according to officials. Around 14,000 households were without water, and 1,000 households were without power.
Persons: aftershock Locations: Taiwan, Japan, China, Philippines, Hualien County
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla: Here's why Wedbush analyst Dan Ives has an outperform rating on the stockDan Ives, Wedbush Securities managing director, joins 'Squawk on the Street' to discuss why Dan Ives still has an outperform rating for Tesla, what turnaround needs to happen, and what Ives bases his hope with Tesla on.
Persons: Dan Ives, Tesla, Ives Organizations: Tesla, Wedbush Securities
Anyone expecting the Japanese royal family’s new Instagram account to generate memes or showcase a new side of the world’s oldest continuous monarchy should lower their expectations. Just some royals politely posing for pictures in their usual, formal way. The new Instagram page for Japan’s Imperial Household Agency — its first on any social media platform — posted its first image early Monday morning. By Tuesday evening, it had uploaded 19 more and collected nearly half a million followers. The page mostly shows Emperor Naruhito, Empress Masako and sometimes their daughter, Princess Aiko, standing up, sitting down or bowing at formal events over the past three months.
Persons: Emperor Naruhito, Empress Masako, Princess Aiko Organizations: Imperial Household Agency —, Tokyo Metropolitan Art Museum Locations: Tokyo, Kenya, Brunei
Tesla 's big miss on first-quarter deliveries is raising alarm even among some of the stocks most strident supporters. Wedbush analyst Dan Ives, a long-time optimist about the automaker and its CEO Elon Musk, delivered a harsh review of the results on Tuesday morning. "While we were anticipating a bad 1Q, this was an unmitigated disaster 1Q that is hard to explain away. Otherwise, some darker days could clearly be ahead that could disrupt the long-term Tesla narrative," Ives said in a note to clients. "For Musk, this is a fork in the road time to get Tesla through this turbulent period otherwise troubling days could be ahead," Ives added.
Persons: Tesla, Dan Ives, Elon Musk, Ives, Musk, Wedbush Organizations: optimist, Tesla Locations: Tesla's Berlin, Delaware, Texas
Tesla sales plunge far more than expected
  + stars: | 2024-04-02 | by ( Chris Isidore | ) edition.cnn.com   time to read: +3 min
Tesla has responded to increased competition by cutting prices. Although Tesla is more profitable than traditional automakers, the price cuts have been squeezing the profit margins that helped boost the stock. But the increased competition in the EV space is a big factor in the decline in demand. In the fourth quarter, Tesla lost the title of the world’s best-selling maker of EVs to Chinese automaker BYD. That has prompted some traditional automakers, such as General Motors and Ford, to pull back on their EV production plans.
Persons: New York CNN — Tesla, Elon, it’s, Tesla, Dan Ives, ” Ives, Organizations: New, New York CNN, Western, Tesla, Wedbush Securities, Motors, Ford Locations: New York, Fremont, China, Europe
Elon Musk's having a terrible year
  + stars: | 2024-04-02 | by ( Grace Kay | ) www.businessinsider.com   time to read: +5 min
Read preview2024 has been off to a rough start for Elon Musk. Musk's golden child, Tesla, has been facing headwinds in recent months. In the US, Musk's company is also facing softening demand from customers who appear to be growing increasingly weary of Musk's antics. Thus far, Musk's purchase of Twitter doesn't appear to be going according to plan. A judge recently tossed out a lawsuit Musk's X filed against a research group, saying the suit was an attempt to bully the social media site's critics into silence.
Persons: , Elon Musk, Tesla, Justin Sullivan Wedbush, Dan Ives, Ives, — that's, Oppenheimer, Colin Rusch, Musk, he's, OpenAI, Sam Altman, Kent Nishimura, Musk's X, X, Neuralink Organizations: Service, Elon, Business, EV, Twitter, CNBC, Tesla, Bloomberg, Fidelity, SpaceX Locations: Berlin, BYD
DETROIT (AP) — Tesla sales fell sharply last quarter as competition increased worldwide, electric vehicle sales growth slowed, and price cuts failed to draw more buyers. In its letter to investors in January, Tesla predicted “notably lower” sales growth this year. In March it temporarily knocked $1,000 off the Model Y, its top-selling vehicle. During the quarter, Tesla lost production time in Germany after a suspected arson attack cut its power supply. But sales growth slowed toward the end of the year.
Persons: Tesla, FactSet, Dan Ives, , Elon Musk, ” Ives, Ives, Itay Organizations: DETROIT, Tesla, Citi, U.S, EV Locations: Austin , Texas, Fremont , California, Red, China, Germany
Tesla is at a fork in the road, and Elon Musk has to turn things around quickly, according to Dan Ives. The Wedbush Securities analyst said we're seeing "a seminal moment in the Tesla story" right now. Tesla shares fell Tuesday after the company delivered fewer cars in Q1 than analysts expected. AdvertisementTesla is facing a do-or-die moment after the "unmitigated disaster" that was its first quarter, one analyst says. Elon Musk's electric carmaker delivered about 386,800 cars in Q1, the company reported Tuesday, far fewer than Wall Street analysts expected.
Persons: Tesla, Elon Musk, Dan Ives, , Elon Organizations: Wedbush Securities, Service, Wall Street, Business
The magnitude 7.4 earthquake in Taiwan on Wednesday was the strongest in 25 years, the island’s Central Weather Administration said. Here’s a look back at some of the major earthquakes in modern Taiwanese history:
Organizations: Weather Administration Locations: Taiwan
Wall Street is worried about Tesla's Q1 deliveries. Wedbush Securities analysts have called it "a nightmare quarter for Tesla." AdvertisementWall Street is getting nervous about Tesla's Q1 deliveries. Analysts' consensus puts the number of deliveries at 477,000 for Q1, according to UBS, which itself has cut its estimate to 432,000. Wedbush analysts called the company's Q1 deliveries "a nightmare quarter for Tesla."
Persons: , Morgan Stanley, Deutsche Bank's Emmanuel Rosner, Tesla, Daniel Ives, Elon Musk Organizations: Wedbush Securities, Tesla, Service, Deutsche Bank, EV maker's, UBS, Bloomberg, Deutsche, Wall, CNBC, Business Locations: Berlin, China
Officials in Baltimore were preparing on Monday to open a temporary alternate channel around wreckage from the collapsed Francis Scott Key Bridge for “commercially essential vessels.”The bridge, a critical link to the Port of Baltimore, collapsed on March 26 after it was hit by a giant cargo ship. Wreckage has been blocking a vital shipping lane into the port ever since. The temporary channel was announced late Sunday by the state and federal agencies leading the response to the disaster. “This will mark an important first step along the road to reopening the port of Baltimore,” Capt. “By opening this alternate route, we will support the flow of marine traffic into Baltimore.”
Persons: Francis Scott Key, Capt, David O’Connell, Organizations: Port, Coast Locations: Baltimore, Port of Baltimore, Coast Guard’s Maryland
Shin Joon Hwan, an ecologist, walked along a road lined with cherry trees on the verge of blooming last week, examining the fine hairs around their dark red buds. The flowers in Gyeongju, South Korea, an ancient capital, belong to a common Japanese variety called the Yoshino, or Tokyo cherry. Mr. Shin’s advocacy group wants to replace those trees with a kind that it insists is native to South Korea, called the king cherry. “These are Japanese trees that are growing here, in the land of our ancestors,” said Mr. Shin, 67, a former director of South Korea’s national arboretum.
Persons: Shin Joon Hwan, , Shin Locations: Gyeongju, South Korea, Tokyo
Apple's iPhone shipments in China have fallen again, government data show. Apple shipped roughly 2.4 million smartphones in February — a 33% drop from 2023, per Bloomberg. AdvertisementThe latest iPhone data out of China imply Apple's still having a tough time in one of its biggest markets. Counterpoint Research, in its report released in early March, estimated that iPhone sales in China had dropped by 24% in the first six weeks of the year. "In essence, Apple needs China, and China needs Apple."
Persons: , Apple's, That's, it's, Dan Ives, Nicole Peng, Peng, Tim Cook, Ives Organizations: Apple, Bloomberg, Huawei, Service, China Academy of Information, Communications Technology, Counterpoint Research, Wedbush Securities, EU, China, Forum, CCP, Business Locations: China, Shanghai, Beijing
PinnedA cargo ship struck a bridge that crosses outer Baltimore Harbor early Tuesday, triggering a collapse, the authorities said. The Coast Guard received a report of an impact at 1:27 a.m. Eastern time at the Francis Scott Key Bridge, said Matthew West, a petty officer first class for the Coast Guard in Baltimore. “I-695 Key Bridge collapse due to ship strike,” the agency said on the social media site X. Officer West of the Coast Guard said that a Singapore-flagged cargo ship, the Dali, had hit the bridge. The bridge — named after Francis Scott Key, the author of the American national anthem, “The Star-Spangled Banner” — opened in 1977.
Persons: Francis Scott Key, Matthew West, Niki Fennoy, Brandon M, Scott, , Dali, Grace Ocean, Scott’s, , Derrick Bryson Taylor Organizations: Coast Guard, Baltimore Police, Fire Department, Maryland Transportation, Grace, Maryland Transportation Authority, Maryland Port Administration, American Locations: Baltimore, , Singapore, Colombo, Sri Lanka, Maryland
Microsoft is having its iPhone moment around AI, says Dan Ives
  + stars: | 2024-03-26 | 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 EmailMicrosoft is having its iPhone moment around AI, says Dan IvesDan Ives, Managing Director of Equity Research at Wedbush, discusses his recent price target hike for Microsoft.
Persons: Dan Ives Dan Ives Organizations: Microsoft, Equity Research, Wedbush
China is unlikely to push Apple out of the country, Shehzad Qazi of China Beige Book told CNBC. "In sectors where they think reliance on American firms — software, hardware, anything talked about — is going to become a national security threat, they want American companies out. "In essence Apple needs China and China needs Apple despite all the noise," he said. "With 90% of the supply chain cemented in China Apple will over time move some manufacturing to India, Vietnam, and other regions. However, the vast majority of its iPhone production and suppliers will remain in China and this trip was Apple essentially doubling down on China."
Persons: Shehzad Qazi, Wedbush's Dan Ives, , Qazi, disinvestment, Dan Ives, Tim Cook, Ives Organizations: CNBC, Apple, Service, Micron, Intel, AMD, Wedbush Securities, China Development, China Apple Locations: China, Beijing, That's, India, Vietnam, Shanghai
The terrorist attack outside Moscow a few days later was a blow to his aura as a leader for whom national security is paramount. Just days later came a searing counterpoint: His vaunted security apparatus failed to prevent Russia’s deadliest terrorist attack in 20 years. Inside Russia, the election — and its predetermined outcome — underscored Mr. Putin’s dominance over the nation’s politics. The area is closed as part of increased security measures after the terrorist attack on Friday. Before Friday, the most recent mass-casualty terrorist attack in the capital region was a suicide bombing at an airport in Moscow in 2011 that killed 37 people.
Persons: Vladimir V, Putin, , ” Aleksandr Kynev, ” Mr, Mr, , Nanna Heitmann, Aleksei A, ” Ruslan Leviev, Olga Skabeyeva, Margarita Simonyan, Russia’s, Aleksandr Dugin, Dugin, Dugin’s, Andriy Yusov, Putin’s, Shamil Zhumatov, Kynev, Vladimir Putin’s, Constant Méheut Organizations: Kremlin, Islamic State, Passengers, The New York Times, Terrorism, Islamic, ., Reuters Locations: Russia, Moscow, Ukraine, Russian, Beslan, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNow is the time for Reddit to 'walk the walk', says Wedbush's Dan IvesHosted 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.
Persons: Wedbush's Dan Ives, Brian Sullivan, Organizations: CNBC
One stock is a "promising AI investment" and set to be a "serious player" in a corner of the space, according to Brian Stutland of Equity Armor Investments. They are really starting to become very creative in the AI world," Stutland, a portfolio manager at the firm, told CNBC's "Street Signs Asia " last week. Palantir has been scaling its Artificial Intelligence Platform, or AIP, and Karp said the company carried out nearly 600 pilots with the technology last year. Shares of Palantir jumped nearly 10% on March 6 after Palantir announced its Tactical Intelligence Targeting Access Node was selected by the U.S. Army . TITAN uses artificial intelligence to provide targeting information for missiles.
Persons: Brian Stutland, That's Palantir, CNBC's, Alex Karp, Palantir, Karp, Stutland, Morningstar, Dan Ives, Ives, — CNBC's Ashley Capoot, Keris Lahiff Organizations: Equity, Investments, AIP, Intelligence, U.S . Army, Fund, Wedbush, Securities, Global TAM Locations: U.S
Hong Kong passed national security legislation on Tuesday, giving officials in the Chinese territory more power to curb dissent, 21 years after mass protests forced the government to backtrack on a plan to introduce such laws. The security legislation is another significant erosion of freedoms in a former British colony once known for its freewheeling politics and relative autonomy from China. It also highlights how weak Hong Kong’s once-boisterous civil society and political opposition have become over the past four years. Here’s how Hong Kong got here and what’s in the law. But it also called for the eventual passage of national security laws to replace colonial ones the British were leaving behind.
Persons: Hong Kong’s Locations: Hong Kong, British, China
Why handle the mess of AI by itself when it can pass it on to someone else? AdvertisementApple does, of course, want an AI strategy, despite all the mess the technology brings with it. Fresh AI features could help Apple boost falling iPhone sales in China. Fresh generative AI features could give iPhones the extra edge they need to boost sales again. In addition, Apple will have several new AI features based on its own, homegrown LLM models we expect to be unveiled at WWDC this June.
Persons: , Tim Cook, they've, Apple, Perfectionism, Steve Jobs, Cook, OpenAI's GPT, Dan Ives Organizations: Service, Google, Bloomberg, Apple, Business, Publishing, Getty, Worldwide Locations: China, China —
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