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☆ EV slump, Hertz fire sale take used Teslas to 'no haggle' $25,000 price
▼ + stars: | 2024-06-06 | by ( Bob Woods | ) www.cnbc.com time to read: +10 min

Also, some used EVs are eligible for up to $4,000 in federal tax credits , and several states offer tax credits or rebates. Although as with buying any used car — from manufacturers and independent dealers, online marketplaces or private owners — there are pros and cons. The Hertz Car Sales website "Shop EVs" button recently listed 1,475 of the 1,638 used EVs listed as "Hertz Certified." A March study by automotive research firm iSeeCars found that the average used car price was down 3.6% from last year, though used EV prices had plummeted 31.8%, equating to $14,418 in value. A follow-up question — "Can you tell me about 2022 Tesla Model 3s being sold by Hertz Car Sales?"

Persons: Hertz, —, iSeeCars, Elon, Karl Brauer, Brauer, Yossi Levi, Guy, Tesla, Carvana, Edmunds, ChatGPT, Hertz's, Matt Quinn, CarGurus, Eugene Park Organizations: Hertz, EV, Hertz Global Holdings, U.S, Bolts, Car, Hertz Tesla, Tesla, ChatGPT, Hertz Car Locations: U.S, Massachusetts, Colorado, Edmunds, CarGurus

☆ Watch CNBC's full interview with Tesla board chair Robyn Denholm
▼ + stars: | 2024-06-06 | 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 Tesla board chair Robyn DenholmTesla board chair Robyn Denholm joins 'Squawk Box' to preview next week's Tesla shareholder meeting, what to expect from the vote on CEO Elon Musk's pay package, Tesla's move from Delaware to Texas, the Elon Musk ecosystem, and more.

Persons: Tesla, Robyn Denholm Tesla, Robyn Denholm, Elon Musk's Organizations: Elon Locations: Delaware, Texas

☆ Here are Thursday's biggest analyst calls: Apple, Nvidia, Tesla, Netflix, Alphabet, United, JPMorgan, Carvana, Broadcom & more
▼ + stars: | 2024-06-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs reiterates Nvidia as buy Goldman said it's sticking with its buy rating on the stock. JPMorgan upgrades StoneCo to overweight from neutral JPMorgan said in its upgrade of the fintech solutions company that it has "appealing" potential for earnings growth. Morgan Stanley reiterates JPMorgan as overweight Morgan Stanley said it's even more bullish on the stock after a meeting with company management. " JPMorgan reiterates Alphabet as overweight JPMorgan said the company is on the "offensive in Gen AI." JPMorgan reiterates Broadcom as overweight The firm said it's sticking with its overweight rating on shares of Broadcom.

Persons: Morgan Stanley, Tesla, Oppenheimer, DA Davidson, Davidson, Goldman Sachs, Goldman, Bernstein, FANG, Redburn, it's bullish, osteogenesis, it's, Robinson, JPMorgan, Disney, Evercore, Moffett, Carvana Organizations: Walmart, Apple, company's, Conference, Nvidia, Energy, Midland shaleco, Endeavor Energy Resources, Airlines, United, Citi, eBay, JPMorgan, BMO, UBS, Mizuho, SEE, P Containers, Deutsche Bank, Deutsche, Google, Jefferies, DFS, Disney, Netflix, CTV, Broadcom Locations: China, Midland, Rocklin

☆ Tesla board chair explains what could happen if Elon Musk's pay package is rejected
▼ + stars: | 2024-06-06 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Read previewThe vote for Elon Musk's hotly debated $55 billion pay package is next week. Tesla is now putting Musk's pay package to a shareholder vote on June 13 in an effort to reinstate it. Tesla board chair Robyn Denholm said in an interview on CNBC's "Squawk Box" on Thursday that there are multiple possibilities. AdvertisementThe Tesla board chair said while there may be other options, they would lead to increased costs or decreased motivation from Musk. Advocates for and against ratifying Musk's pay package have been ramping up their arguments in recent weeks.

Persons: —, Elon Musk's, Tesla, Robyn Denholm, Denholm, Elon, Musk, hasn't, There's, it's, Ron Baron Organizations: Service, Business, California Public Employees Locations: Delaware, America

☆ Tesla's ex-AI chief says it makes perfect sense for Elon Musk to divert Nvidia chips from Tesla to X
▼ + stars: | 2024-06-05 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Elon Musk has been criticized for his decision to redirect Tesla's Nvidia chips to X. But Tesla's former head of AI infrastructure, Tim Zaman has come forward to defend Musk's decision. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDiverting Tesla's AI chips to X made sense given the logistics that come with assembling a supercomputer, the automaker's former head of AI infrastructure said on Tuesday. "The practicalities of building a supercomputer are insane once you get down to it," Tim Zaman wrote in an X post.

Persons: Elon Musk, Tim Zaman, Zaman, — Organizations: Service

☆ OpenAI is facing controversy. Again.
▼ + stars: | 2024-06-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the latest controversy to embroil OpenAI amid a difficult few months for the startup . Their takeaway was simple: OpenAI wants to have it both ways regarding how it's perceived about safety and commercialization. It's structured as a "capped-profit" company governed by a nonprofit, and Altman doesn't hold equity directly in OpenAI. The result, the VC told me, is people feel OpenAI is talking out of both sides of its mouth. It doesn't help that some OpenAI employees joined when that split was closer to 80/20 and favored safety over business, they added.

Persons: —, we've, OpenAI Justin Sullivan, Chelsea Jia Feng, Anthropic signees, Scarlett Johansson, Elon, Madeline Berg, Sam Altman, Altman, Justin Sullivan, OpenAI, It's, Patrick McMullan, Jenny Chang, Rodriguez, Izzy Englander's, Griffin's, Marko Kolanovic, ANDREW CABALLERO, REYNOLDS, youngs, Mark Zuckerberg, Elon Musk, Keith Enright, Alyssa Powell, They've, Shopify, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, George Glover, Annie Smith Organizations: Service, Business, Google, Millennium Management, Getty Images, Facebook, CNBC, BI, SpaceX Locations: OpenAI, Patrick, It's, Tesla, New York, London

☆ Goldman has two short-term trade ideas for clients on major stocks Tesla and Apple
▼ + stars: | 2024-06-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Investors looking to bet on another rally for major tech stocks should take a look at some options trades that are curiously cheap, according to Goldman Sachs. The "Magnificent Seven" was the key to the stock market rally last year, but the group has splintered a bit in recent months. For example, investors have had a hard time betting on Tesla , which is down nearly 30% in 2024. "We see the potential for more volatility over the next two months than is priced into TSLA options. The strategy works by picking a strike price, typically above the current stock price, and expiration date.

Persons: Goldman Sachs, John Marshall, Elon Musk's, Goldman, Michael Ng Organizations: Tesla, Apple, Worldwide

☆ CNBC Daily Open: Roaring Kitty's wealth, Modi's victory
▼ + stars: | 2024-06-05 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

The S&P 500 inched up 0.15% and the Nasdaq Composite did marginally better, up 0.17%. Bath & Body Works was the worst-performing stock on the S&P 500, plunging almost 13% on disappointing guidance. With his 5 million shares of GameStop, if he were to exercise his 120,000 call options at $20 apiece, that would give him an additional 12 million shares — making him the fourth-largest shareholder in the games retailer. [PRO] June highThe S&P 500 will rally to fresh all-time high of 5,500 by the end this month, according to Fundstrat Global Advisors' Tom Lee. With the S&P 500 finishing Monday's trading session at 5,283.40 the forecast calls for upside of 4%.

Persons: Modi, Narendra Modi, Modi's, Keith Gill, Gill, Elon Musk, Tesla, Musk, Tom Lee, CNBC's Pia Singh, what's Organizations: CNBC, Dow Jones, Nasdaq, Body, Treasury, Bharatiya Janata Party, BJP, National Democratic Alliance, GameStop, Nvidia, Federal Reserve, Fundstrat Global Locations: Tesla

☆ Boeing Starliner launches for the first time carrying NASA astronauts to the ISS
▼ + stars: | 2024-06-05 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

In this article BA Follow your favorite stocks CREATE FREE ACCOUNTBoeing launched its first Starliner flight with astronauts on Wednesday, beginning a crucial final flight test of the long-delayed spacecraft. ET from Cape Canaveral, Florida with two NASA astronauts aboard. Starliner is carried by an United Launch Alliance's Atlas V rocket and bound for the International Space Station. Boeing's crew flight test aims to certify the Starliner system as capable of carrying NASA astronauts to-and-from the ISS. The capsule itself is built to carry as many as four NASA astronauts per flight and more than 200 pounds of research and cargo.

Persons: Boeing's, Steve Nesius, Lockheed Martin –, Miguel J, Rodriguez Carrillo, Butch Wilmore, Suni Williams, Wilmore, Kim Shiflett, NASA Williams, Williams, Isaac Watson, NASA Starliner Organizations: Boeing, NASA, United, International Space, Alliance, V, International, Reuters, Lockheed, United Launch, Boeing's, Kennedy Space Center, AFP, Getty, Space Shuttle, Russia's, U.S . Navy, Soyuz, Navy, United Launch Alliance, Cape Canaveral Space Force Locations: Cape Canaveral , Florida, U.S, ULA, Cape Canaveral, Fla, Florida

☆ Ron Baron, big Tesla shareholder, supports Elon Musk's $56 billion pay package
▼ + stars: | 2024-06-05 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire investor Ron Baron, longtime Tesla bull and shareholder, wrote an open letter in support of CEO Elon Musk's controversial $56 billion pay package. The pay package, proposed by Tesla's board of directors, has repeatedly come under fire for its close ties with Musk. If passed, it would be the largest pay package for a CEO in corporate America. "I'm voting for the pay package," Baron said on CNBC's "Squawk Box" Wednesday. In January, Judge Kathaleen McCormick of Delaware's Court of Chancery voided the original pay package.

Persons: Elon, Baron, Ron Baron, Tesla, Judge Kathaleen McCormick, Musk Organizations: Baron Capital, Delaware's, Baron Partners Fund, Elon Locations: Tesla's Fremont, America, Texas, Delaware, Tesla, Baron's, Elon

☆ Elon Musk, who famously vowed to 'own no house,' reportedly considered buying a tiny home that can cost around $400,000
▼ + stars: | 2024-06-05 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewElon Musk, who famously vowed to "own no house" in 2020 and claimed in 2022 that he was effectively homeless and couch surfing at his friend's properties, reportedly discussed buying a tiny house from one of Tesla's board directors, per Reuters. This story is available exclusively to Business Insider subscribers. A Samara backyard one-bedroom prefabricated house starts at $284,000. Elon Musk, Tesla, and Samara did not immediately respond to a request for comment made outside normal working hours.

Persons: —, Elon Musk, Joe Gebbia, Gebbia, Samara, Grimes, Musk Organizations: Service, Reuters, Business, SpaceX Locations: Samara, Delaware, Austin, Airbnb, Mexico

☆ Emails show Elon Musk diverted a $500 million shipment of Nvidia chips intended for Tesla to X instead
▼ + stars: | 2024-06-04 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Elon Musk redirected $500 million in AI processors from Tesla to X, CNBC reported. AdvertisementElon Musk diverted $500 million worth of AI processors meant for the carmaker, according to correspondence from Nvidia employees obtained by CNBC. Instead, he sent them to his social media platform X, the report, which was published Tuesday, said. "Elon prioritizing X H100 GPU cluster deployment at X versus Tesla by redirecting 12k of shipped H100 GPUs originally slated for Tesla to X instead," an Nvidia memo from December said, according to the report. "In exchange, original X orders of 12k H100 slated for Jan and June to be redirected to Tesla."

Persons: Elon, —, Tesla Organizations: CNBC, Service, Nvidia, Tesla, Business

Meta 's chief artificial intelligence scientist Yann LeCun has spent much of the past week sparring with Elon Musk over the Tesla CEO's treatment of scientists and news organizations, and for spreading false conspiracies on social media. The spat began days earlier, on May 27, after Musk took to X to encourage people to apply for roles at his AI startup, xAI. Musk, who has previously called for the prosecution of Fauci, posted on X, "Why do Dems love Fauci so much." Musk said in a post on X Monday that LeCun has been "out of touch with AI for a long time." "I'm sure the scientists who hide behind this collective name are super happy about that," LeCun said on X.

Persons: Yann LeCun, Elon Musk, LeCun, Musk, Anthony Fauci, Fauci, Mark Zuckerberg, Bill Gates, Investor Mark Cuban, Dustin Moskovitz, Musk's, Tesla, hasn't, He's Organizations: Elon, Google, Microsoft, Meta, Investor, Diversity, Equity, LeCun, Medical Internet Research, Trump Locations: xAI

☆ Elon Musk ordered Nvidia to ship thousands of AI chips reserved for Tesla to X and xAI
▼ + stars: | 2024-06-04 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +12 min

Correspondence from Nvidia staffers also indicates that Musk diverted a sizable shipment of AI processors that had been reserved for Tesla to his social media company X, formerly known as Twitter. "Elon prioritizing X H100 GPU cluster deployment at X versus Tesla by redirecting 12k of shipped H100 GPUs originally slated for Tesla to X instead," an Nvidia memo from December said. In a post on X in November, Musk wrote, "X Corp investors will own 25% of xAI." At Tesla, Musk has promised to build a $500 million "Dojo" supercomputer in Buffalo, New York, and a "super dense, water-cooled supercomputer cluster" at the company's factory in Austin, Texas. WATCH: Musk ordered Nvidia to ship thousands of AI chips to X

Persons: Elon Musk, David Swanson, Reuters Elon Musk, he's, Tesla's, Musk, Tesla, Elon, Critics, OpenAI's ChatGPT, Axios Harris, Jensen Huang, Huang, David Paul Morris, xAI's Grok, xAI, he'd, He's, Leo Koguan, Gerber Kawasaki's Ross Gerber, Joel Fleming, Fleming, hasn't, Ethan Knight Organizations: SpaceX, Tesla, Reuters, Nvidia, Tesla's Texas, CNBC, X Corp, EV, Google, Meta, Microsoft, Blackwell, Nvidia Corp, Technology, Bloomberg, Getty, Twitter, Equity Litigation Locations: Beverly Hills , California, Tesla's, U.S, San Jose , California, Buffalo , New York, Austin , Texas, North Dakota, Delaware, Tesla, xAI, SolarCity, Texas, New York

☆ 6 LGBTQ+ royals you probably didn't know about
▼ + stars: | 2024-06-03 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +1 min

Princess Isabella of Parma exchanged hundreds of letters with her sister-in-law that implied the pair's relationship was more than friendly. A portrait of Princess Isabella of Parma. The pair exchanged letters "constantly" back and forth over the years, according to Making Queer History, and many of them are believed to be queer-coded or romantically affectionate in nature. "I cannot tolerate this uncertainty, I can think of nothing but that I am madly in love," Princess Isabella reportedly wrote in one letter. After two miscarriages, Princess Isabella was pregnant for a fourth time when she died from smallpox at the age of 21 in 1763.

Persons: Princess Isabella of Parma, Isabella of Parma, Archduke Joseph of Austria, Archduchess Maria Christina, Princess Isabella, Maria's, Prince Albert

☆ The battle over Elon Musk's pay package is a showdown between his army of supporters and institutional investors
▼ + stars: | 2024-06-02 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Read previewTesla is setting the stage for a battle between some vocal institutional investors and some of Elon Musk's biggest supporters. The executive pay plan, which was first approved in 2018, is centered on a series of goalposts around Tesla's financial growth. AdvertisementMeanwhile, Tesla has argued that the pay package is both fair and necessary to maintain Musk's focus on the car company. AdvertisementThe Tesla CEO has also promoted the proposal and criticized institutional investors who have spoken out against the pay plan. Ahead of the June 13 shareholder meeting, shareholders will be asked to vote on several other proposals in addition to Musk's pay package.

Persons: —, Elon Musk's, Musk, Tesla, Leo Koguan, Bloomberg —, Adam Jonas, Morgan Stanley's, Morgan Stanley, Anat Alon, Beck, Alon, I'd, they'd, Kimbal Musk, Murdoch Organizations: Service, Business, Securities and Exchange Commission, P Global Market Intelligence, Reuters, Bloomberg, Case Western Reserve University, Texas Locations: Elon, Delaware, Texas

☆ I spent a day with Chevrolet's two new electric cars. They may not be enough to turn the EV tide.
▼ + stars: | 2024-06-01 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Read previewChevy's electric aspirations are about to meet their toughest test yet with the launch of the Silverado EV and the Equinox EV. All of this adds up to the security that today's EV shopper is looking for, Majoros told me in an interview. The RST First Edition Silverado EV, which is on sale now, goes for $94,500. Equinox EV is a step in the right direction, but can it beat a hybrid? That could be bad news for Chevy dealers and Equinox EV, which might lose out in a comparison with Ford's or Toyota's hybrids.

Persons: —, Steve, Majoros, you've, it's, Ford's, Elon Organizations: Service, Silverado EV, GM, Business, Chevrolet, Motors, Silverado, Equinox Locations: Detroit

☆ I unwittingly signed up to the same dating show as my dad. We competed in a strip tease contest on the second day of shooting 'MILF Manor.'
▼ + stars: | 2024-06-01 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +7 min

My first 48 hours on "MILF Manor" season two may have been the wildest of my life and the strangest bonding experience that I've had with my dad. Competing in the challenges was mental warfareJami and Joey in the maple syrup couples challenge in "Milf Manor" episode one. Within a second, the other young men and I realized that the new arrivals were our fathers. Chris, another contestant, and I grouped together the other young men and choreographed a dance we hoped would help us win. Joey Schifilliti and Anthony Schifilliti appear on "Milf Manor" season two.

Persons: —, Joey Schifilliti, TLC's, I've, Jami, Joey, Christina Best, Christina, Jami Amaro, Anthony Schifilliti, Barby Garcia Gutierrez, Anthony, Aaron Patton, I'm Organizations: Service, Business, TLC Locations: Canada

☆ Another top proxy advisor has recommended shareholders vote against Elon Musk's $56 billion Tesla pay package
▼ + stars: | 2024-06-01 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

Read previewInfluential proxy advisor Institutional Shareholder Services (ISS) has recommended that Tesla shareholders vote against Elon Musk's proposed $56 billion pay package. AdvertisementIt comes after Glass Lewis, another leading proxy advisory firm, also urged Tesla investors to vote against the deal. Tesla was quick to respond to the report in a letter to shareholders titled "What Glass Lewis Got Wrong About Tesla." Related storiesOn the other hand, Glass Lewis urged shareholders to reject the proposed move, saying it offered them "uncertain benefits and additional risk. "ISS and Glass Lewis effectively control the stock market," he added.

Persons: —, Elon Musk's, Musk, Glass Lewis, Tesla, John Thys, Lewis Organizations: Service, Services, ISS, Tesla, Bloomberg, Business, Company, Getty, Harvard Law, Corporate, SpaceX, Boring Company Locations: Texas, Amsterdam, AFP, Tesla, Delaware

☆ Tesla investor accuses Elon Musk of insider trading that banked him $7.5 billion
▼ + stars: | 2024-06-01 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Read previewA Tesla investor accused Elon Musk of using insider information on his company to sell $7.5 billion worth of Tesla stock in 2022, according to a lawsuit filed Thursday in Delaware Chancery Court. "Musk's insider profits for his November and December sales were approximately $3 billion based on the January 3, 2023 closing price of $108.10 per share," the lawsuit alleged. AdvertisementPerry also accused Musk of misleading shareholders about what to expect in the fourth quarter of that year in an October 2022 earnings call. "So, Q4 is looking extremely good," Musk said in the call, according to a transcript published by The Motley Fool. AdvertisementMcCormick's ruling has caused Musk to sour on Delaware and has been pitching a move for Tesla to be incorporated in Texas.

Persons: —, Elon Musk, Michael Perry, Tesla, Perry, Musk, Larry Ellison, Ellison, James Park, Kathaleen McCormick, McCormick Organizations: Service, Business, Oracle, New York Times, University of California, Investors Locations: Delaware Chancery, Los Angeles, Delaware, Texas

☆ Top proxy advisor ISS recommends against Elon Musk's $56 billion Tesla pay package
▼ + stars: | 2024-05-31 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Taylor Hill | Getty ImagesTop proxy advisor Institutional Shareholder Services on Friday recommended Tesla shareholders vote against the re-approval of CEO Elon Musk's $56 billion pay package and withhold their support from the re-election of News Corp . Tesla's shareholder meeting is on June 13. Tesla's board is seeking shareholder approval to reinstate Musk's pay after a Delaware court voided the package earlier this year. The proxy advisor recommended support for some shareholder proposals that Tesla management opposes, including one that would declassify Tesla's board. Pay package pushTesla has been courting shareholder support in both time-tested and novel ways.

Persons: Elon Musk, Elon Musk's, James Murdoch, Glass Lewis, Tesla, Innisfree, Robyn Denholm, Leo KoGuan, KoGuan, Go Nakamura Organizations: Academy Museum of Motion Pictures, Getty, Services, News Corp, CNBC, ISS, FGS Global Locations: Los Angeles , California, Taylor, Delaware, Texas, Austin, Austin , Texas, U.S

☆ A mom transformed a Philadelphia parking lot into Cinderella's castle, giving her daughter the most extravagant prom celebration of the year
▼ + stars: | 2024-05-31 | by ( Amanda Krause | ) www.businessinsider.com time to read: +6 min

It was Treva Harris, Azar's mother, who hosted the prom party of the year. "I'm kind of in awe about how much attention this has gotten," Treva told Business Insider. I thought it was baby blue," Treva told BI. "And the best part is that Azar didn't know what she was walking out to. "We have requests for prom send-offs up to 2028, and I'm like, 'You guys don't even know what date the prom is yet!'"

Persons: —, Azar Harris didn't, Azar, Treva Harris, Azar's, Treva, Gen Z, Azar Harris, Ray Valdez Treva, Muhammad, Muhammad's, Ray Valdez, Azar didn't, we're Organizations: Service, Philadelphia, Business, Teen Vogue Locations: Philadelphia

☆ A new 'Hellboy' reboot is reportedly being released in August, but the lack of publicity has fans worried
▼ + stars: | 2024-05-31 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +5 min

"The Crooked Man" is based on the creepy, stand-alone tale of the same name from the comics, and Mignola confirmed that it finished filming in May 2023. This has led some fans to speculate, albeit without evidence, that Millennium Media was making it to keep the rights to the franchise. AdvertisementThis has led some fans to speculate, albeit without evidence, that Millennium Media is making it to keep the rights to the franchise. Commentby from discussioninHellBoyRepresentatives for Millennium Media and Ketchup Entertainment did not respond to Business Insider's request for comment. Advertisementto be clear: there is exactly *ZERO* AI used on hellboy: the crooked man.

Persons: —, Mike Mignola's, Ron Perlman, Guillermo del Toro, David Harbour, Mignola, Taylor, Leah McNamara, Jefferson White, Jack Kesy, Adeline Rudolph, Joseph Marcell, ike, omics, ake, evert, rian, aylor, rian T aylor Organizations: Service, Millennium Media, Entertainment, Business, Office Mojo, Media Locations: Spanish

☆ Philippine president says killing of a Filipino in South China Sea clash would be ‘very close’ to act of war
▼ + stars: | 2024-05-31 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Philippines' President Ferdinand Marcos Jr. delivers a speech during the 21st Shangri-La Dialogue summit in Singapore on May 31, 2024. The president said should such an incident happen by willful action, it would "increase the level of response [by the Philippines]," and come "very, very close to what we define as an act of war." In late March, the Philippines accused a China Coast Guard vessel of utilizing its water cannon on a Filipino ship travelling to the Second Thomas Shoal, injuring three Filipino sailors. Earlier that month, the China Coast Guard was accused of a water cannon attack that left four Filipino crew members injured by broken glass. Beijing claims almost all of the South China Sea as its waters, despite a 2016 ruling by the Permanent Court of Arbitration that said that China's claims has no basis under international law.

Persons: Ferdinand Marcos Jr, Marcos, Thomas Shoal Organizations: Chinese Coast Guard, Guard, U.S ., Philippines Mutual Defense, China Coast Guard, China's coastguard Locations: Philippines, Singapore, South, U.S, Manila, South China, China

☆ Here are Friday's biggest analyst calls: Tesla, Nvidia, Apple, Rivian, Nio, Costco, Qualcomm
▼ + stars: | 2024-05-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Wells Fargo reiterates Nvidia as overweight Wells said it's standing by shares of Nvidia. Bank of America reiterates Apple as buy Bank of America said it's bullish on an iPhone with artificial intelligence features. "We maintain our Buy rating on Apple for its multi-year upgrade cycle, gross margin upside and secular services growth." Bank of America reiterates Dell as buy Bank of America said it's sticking with its buy rating on the stock following earnings. Morgan Stanley reiterates Nio as overweight Morgan Stanley said it's standing by its overweight rating on shares of Nio.

Persons: Oppenheimer, Morgan Stanley, Wells, Wynn, it's, Jefferies, Tesla, Dell, Wolfe, Alex Chriss, Rivian, Nio, robustly, Cantor Fitzgerald, Cantor, Rosenblatt Organizations: Beazer, Nvidia, MGM, " Bank of America, Apple, Bank of America, Edison International, Qualcomm, JPMorgan, Banks, PayPal, New, Citi, Lionsgate, Lionsgate Studios, UBS, Tesla, Resilience Locations: Macau, Las Vegas, California, Cincinnati, China, Nio, NetApp

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