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CNBC's Jim Cramer on Thursday said his "Magnificent Seven" mega-cap tech stocks stood out during earnings season, even though they took a hit as investors fretted over an unsettled bond market. But many of the stocks have since recovered from post-earnings declines, Cramer noted, perhaps leaving some sellers full of regret. Cramer dubbed investors' reactions to Alphabet's Google Cloud miss "extreme," saying the stock is starting to come back. Apple reported Thursday after the market close, with its stock seeing a pullback in after-hours trading. "I think it's safe to say that the sellers missed out on a real buying opportunity and, worse, they created that opportunity themselves," Cramer said.
Persons: CNBC's Jim Cramer, Cramer, Cramer's Organizations: Big Tech, Apple, Nvidia, Microsoft, Google
Will the S & P 500 be nearer to 5,000 by the end of the year? Morgan Stanley Investment Management's Andrew Slimmon was among some on Wall Street who earlier this year believed so. The S & P 500 closed at 4,193.80 on Tuesday. Although markets have been volatile lately, Slimmon expects the S & P 500 to be closer to 5,000 than 4,000. But his S & P 500 prediction is predicated on a few factors, Slimmon told CNBC's " Squawk Box Asia. "
Persons: Morgan Stanley, Andrew Slimmon, Slimmon, inching, CNBC's, There's, Stocks Organizations: Morgan Stanley Investment, CNBC, Treasury, . Federal, CNBC Market, Survey, Apple, Microsoft, Nvidia, Tesla, Windows, United Rentals Locations: ., financials
The so-called Magnificent Seven group of stocks, which rose together for most of 2023, are starting to break-up this earnings season. The Magnificent Seven constituents (Apple, Microsoft, Meta, Amazon, Alphabet, Nvidia, and Tesla) have been the main performance drivers in the S & P 500 index all year. The super-duper seven have added almost $4 trillion in market cap in 2023 alone while collectively as a group contributed roughly 90% of the S & P 500's 2023 gain. I want to focus on one of the high-flying Magnificent Seven names: Tesla . Using the SPDR S & P 500 ETF (SPY) , traders saw the 200-day violated at $422 and Relative Strength Indicator levels have now been slammed into oversold territory.
Persons: Microsoft's, Tesla, TSLA Organizations: Microsoft, Meta, Nvidia, Investors, Elon Musk's EV
WUHAN, CHINA - MAY 25: (CHINA OUT) Attendees wear protective masks as they look around the at BMW Ix3 during 2023 Central China International Auto Show on May 25, 2023 in Wuhan, Hubei province, China. More than 80 brands took part in the 2023 Central China International Auto Show which started on Thursday. (Photo by Getty Images)German automaker BMW Group said that diversifying its supply chains away from China does not mean it is leaving the country completely. "Especially the BMW Vision Neue Klasse, it will not be a small volume. BMW is not leaving China, he said, adding that free trade is "fundamental to our business model."
Persons: Oliver Zipse, CNBC's Martin Soong, Annalena Baerbock Organizations: BMW Ix3, China International, Getty Images, BMW Group, BMW, Neue, Japan, Neue Klasse, Tesla Locations: WUHAN, CHINA, Wuhan, Hubei province, China, Germany
Arjun Kharpal | CNBCStellantis on Thursday said it will invest 1.5 billion euros ($1.58 billion) in Chinese electric vehicle startup Leapmotor , as traditional automakers look for a way to compete in China's cutthroat market. The companies will form the Leapmotor International joint venture, aiming to boost sales of the Chinese brand's electric cars overseas. China, the world's biggest electric vehicle market, is dominated by domestic company BYD , as well as U.S. automaker Tesla . Traditional vehicle companies have been seen to be too slow to transition to manufacturing electric vehicles, hampering potential growth in the Chinese market. Stellantis eyes China boostThe deal could boost Stellantis' efforts in China, by having a local partner lead the way.
Persons: Arjun Kharpal, Li Auto, Stellantis, Abhik Mukherjee, Carlos Tavares, Leapmotor, Zhu Jiangming, Counterpoint's Mukherjee, Bill Russo Organizations: Leapmotor, CNBC, International, JV, Chrysler, Maserati, Tesla, Huawei, Counterpoint Research, EV, IAA, Guangzhou Automobile Company Locations: Leapmotor . China, China, Hangzhou, Munich, Greater China, Europe, Stellantis, China's Xpeng
On the phone was 28-year-old Jimmy Zhong, a local party boy and Georgia alum who frequented Athens' drinking establishments. Robin Martinelli, Martinelli Investigations owner and private investigator. Martinelli said Zhong appeared resistant to her theories, especially when they began to focus on his circle of friends. Source: Zhong's social media profileHis parties were epic. Source: Zhong's social media profile
Persons: Jimmy Zhong, Zhong, Robin Martinelli, Martinelli, Montel Williams, " Martinelli, Jimmy, Zhong didn't, Louis Vuitton, Gucci, Jimmy Choo, didn't, he'd, Satoshi Nakamoto, Stefana, CNBC Masic, Zhong couldn't, Jody Thompson, Thompson, Trevor McAleenan, Shaun MaGruder, McAleenan, that's, MaGruder, I've, wasn't, Trevor, I'm, coders, Nathaniel Popper, Popper, Bitcoin, Nobody, bitcoin, Michael Bachner, John Garland, Bachner, Ross Ulbricht, Chad Organizations: University of Georgia, Clarke County Police Department, rowdies, Clarke County Police, CNBC, Department of Justice, Martinelli Investigations, Broad, College, Ritz Carlton, Waldorf, Georgia Bulldogs football, Rose, IRS, Silk, Clarke, Investigators, Misfits, . Locations: Athens, Georgia, bitcoin, It's, Loganville , Georgia, Zhong's, Gainesville , Georgia, Los Angeles, Beverly Hills, LA, Gainesville, Chad, Clarke County, Montgomery , Alabama, U.S
Stock futures inched higher in overnight trading Sunday ahead of a busy week for corporate earnings. Futures tied to the Dow Jones Industrial Average added 0.1%, while S&P 500 futures and Nasdaq-100 futures gained 0.12% and 0.16%, respectively. The S&P 500 advanced 0.45% for its second consecutive positive week, while the Dow Jones Industrial Average gained 0.79%. Meanwhile, Wall Street assessed a slew reports from major financial firms, with JPMorgan Chase and Wells Fargo gaining 1.5% and 3%, respectively. On the economic front, Wall Street awaits the Empire State Index for October due out Monday.
Persons: Stocks, Eric Johnston, Cantor Fitzgerald's, CNBC's, Chuck Schumer, Johnson, Charles Schwab Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Dow Jones Industrial, Dow, Wall, JPMorgan Chase, Wells, Johnson, Bank of America, Netflix, Tesla, Index Locations: Israel, Gaza, U.S
CNBC's Jim Cramer said Wednesday he sees conditions that could spur a stock market rally, following a challenging few weeks on Wall Street. "We certainly have plenty of tinder for a rally — there are some Kingsfords lying around, maybe even a Duraflame or two," he said. However, he added that this potential economic weakness could hurt plenty of sectors, including retailers, banks and housing. But this weakness soon gave way to a tech-fueled rally, he said. He added that he's not sure whether the "uniform negativity" on Wall Street — especially talk of declining bond prices — means a bottom, but to him, it's a possibility.
Persons: CNBC's Jim Cramer, Cramer, Friday's, he's, We'll Organizations: Federal, Nasdaq, Microsoft, Nvidia, Meta
For the first time in its 88-year history, the UAW is on strike at all three of the Detroit companies at once. "We have a bigger point to make," Wegener said, noting the strike sends a larger message about inequality across the industry. In fact, the United Auto Workers-led strike at the Detroit 3 is shaping up to have an outsized effect on the entire automotive industry. "If the UAW does dig their heels in and does well here, it's highly likely that they will get other auto workers who are not UAW auto workers to be very interested," Ambrose Conroy, CEO of consultancy Seraph, said. Even the branding of the strike, which Fain has called the "Stand Up" strike, is a play on the UAW's highly influential 1937 sit-down strike at GM.
Persons: Tesla, Matt Wegener, , Wegener, It's, it's, Ambrose Conroy, Seraph, Fain, we've, Jason Miller, Stellantis, Melissa Atkins, Ford, Jim Farley, Miller, Conroy, They've Organizations: UAW, Service, United Auto Workers, Michigan Assembly, Detroit, Ford, GM, Teamsters, United Airlines, Michigan State University, CNBC, Tesla Locations: Detroit, Wall, Silicon, Wells Fargo
"We struggle to believe that the US at currently [circa] 60% of global market cap can continue its inexorable rise." The Shiller P/E ratio is a measure of how undervalued or overvalued the broader stock market is. Garthwaite attributed the overvalued nature of the market to the meteoric rise of technology stocks this year, especially the so-called Magnificent Seven, which includes Alphabet , Amazon , Apple , Meta , Microsoft , Nvidia and Tesla . This means the U.S. market is essentially overexposed to these seven stocks, which are seeing "extreme levels" for relative valuations, he said, in a note to clients that advised investors to underweight U.S. stocks. While Credit Suisse is still bullish on technology stocks, current high price-to-earnings multiples for the Magnificent Seven will be difficult to maintain, he said.
Persons: Andrew Garthwaite, Garthwaite, — CNBC's Michael Bloom Organizations: Apple, Meta, Microsoft, Nvidia, Tesla, Credit Suisse, Tech Locations: U.S
Many growth funds have performed on pace with the S & P 500 this year, driven by mega-cap names such as Nvidia , Alphabet and Tesla . The Needham Aggressive Growth Fund , however, has outperformed. Aggressive growth funds are focused on investing in growth stocks, with high potential future to grow — but also higher risk. Picking companies Portfolio manager Barr, who has managed the fund since 2010, told CNBC Pro that "there is a rich universe of investment opportunities beneath the big tech companies like Nvidia." "There are small-cap companies with rapid growth, and also with the steady growth that Needham prefers."
Persons: It's, John Barr —, Barr, Needham Organizations: Nvidia, Big Tech, Morningstar, CNBC, Apple, Needham Funds Locations: industrials, Barr, United States
BMW revealed the BMW Vision Neue Klasse, a concept electric vehicle that will underpin its foray into battery-powered cars. MUNICH — BMW will build its semi-autonomous driver assistance system on Amazon's cloud computing technology, the two companies said Tuesday. It comes as traditional automakers look to boost the technology in their cars, with a particular focus on ADAS, to compete with Tesla . An ADAS is a software system that can offer drivers assistance with actions such as lane changing or parking. Automakers are looking to introduce an increasing number of these features as they push toward autonomous driving.
Persons: Tesla's Organizations: BMW, Neue, Tesla Locations: MUNICH
BMWMUNICH, Germany — BMW and Mercedes are making their biggest push yet into electric cars in a bid to fend off rising competition from Chinese players and catch up with U.S. giant Tesla . On Saturday, rival BMW showed off the "Vision Neue Klasse," another electric concept car that highlights the company's EV ambitions. This is the companies' biggest push yet toward a new platform for the electric vehicle era. Tesla commanded 20% of the global EV market in the second quarter, followed by 15% for BYD, according to Counterpoint Research. GTI Concept electric vehicle at the IAA show, and said a production version of the car is scheduled to hit the road in 2027.
Persons: Warren Buffett, BYD, Elon Musk's Tesla, Mercedes, Ola Kallenius, Kallenius, CNBC's Annette Weisbach, Oliver Zipse, CNBC's Arabile, Zipse, Daniel Roeska, Roeska, Tesla Organizations: BMW, IAA, BMW MUNICH, Mercedes, IAA Mobility, Benz, Analysts, Bernstein Research, CNBC, Tesla, BYD, Research, U.S ., EV, Volkswagen Locations: Munich, Germany, Tesla, China
I never like higher rates at any end of the curve. At every benchmark, you will first hear that every bull market ends because of higher rates. We have done well in the stock market at 7% on the 20-year and well at half that. 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.
Persons: Shawn Fain, Fain, He's, haven't, Tesla, , Mike Wilsons, Mike Wilson, Morgan Stanley's, Here's, it's, there's, that's, Jim Cramer's, Jim Cramer, Jim, Jim Cramer Rob Kim Organizations: Companies, Federal Reserve, Big, ARM Holdings, Club, MarketEdge, United Auto Workers, UAW, Ford, ARM, American Free Trade, Netflix, Earth, Apple, Treasury, Fed, CNBC Locations: Mexico, United States, Canada
A Calvert fund is giving investors a sustainable way to play this year's technology rebound. The firm's U.S. Large Cap Growth Responsibility Index (CGJAX) is up 27% this year, rallying in near harmony with growth stocks. 'Consistent approach' Fitting of any growth fund, a handful of large tech names are among the biggest holdings as of June 30, per Morningstar. "This fund still offers a broadly diversified option for investors looking for a balance between ESG and growth stocks," Tran wrote when rating the fund at the end of last year. The fund also benefits from having a more data-driven approach to picking stocks, Huang wrote.
Persons: Calvert, Russell, Morningstar, , Jade Huang, Huang, Lan Anh Tran, Tran Organizations: Apple, Microsoft, Nvidia, Facebook, Tesla, Nasdaq, Morningstar, Russell, Federal Reserve Locations: Calvert
Xpeng on Friday reported a wider-than-expected loss in the second quarter, sending the Chinese electric car maker's shares down more than 7% in premarket U.S. trade. The net loss was wider than the 2.7 billion yuan ($370.7 million) loss reported in the second quarter of last year. It was also the biggest quarterly loss that Xpeng has posted since going public in August 2020. Here's how Xpeng did against Refinitiv consensus estimates for the second quarter:Net loss: 2.8 billion yuan loss vs. 2.13 billion yuan loss expectedRevenue: 5.06 billion Chinese yuan ($693.7 million) vs. 5.06 billion yuan expected, representing a 31% year-on-year fall. Xpeng's is hoping its latest car — the G6 Ultra Smart Coupe SUV — which was launched at the end of the second quarter, will boost margins.
Persons: Xpeng, Li Auto, Brian Gu Organizations: Guangzhou International Automobile, China Import, Tesla Locations: Guangzhou, Guangdong Province of China, premarket U.S, China
Shares of GM were down roughly 4% in morning trading Tuesday despite quarterly results that topped year-ago performance. Analysts during the call questioned the company's pricing strategies, EV profitability guidance and ability to hit previously announced targets for the vehicles. GM produced 50,000 EVs through the first half of this year for North America, in line with internal targets but far slower than many expected. A majority of that production was its outgoing Chevrolet Bolt models, rather than new EVs that utilize the automaker's "Ultium" batteries and technologies. She said GM was "surprised" how little progress the supplier had made.
Persons: Mary Barra, Tesla, Barra, We've Organizations: DETROIT, General, Wall, GM, North, Chevrolet Locations: North America
Market Movers rounded up the best reactions from investors and analysts on Tesla . The pros, including Jim Cramer , discussed the electric vehicle maker after Wells Fargo raised its price target to $265 a share from $170. Tesla also tweeted on Saturday that built its long-awaited first Cybertruck at its Texas gigafactory. The stock popped 3.2% on Monday. The company is set to report quarterly earnings on Wednesday.
Persons: Jim Cramer, Wells Fargo, Tesla Organizations: Tesla Locations: Texas
Jim Cramer explains Ford's electric vehicle price cuts
  + stars: | 2023-07-17 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
CNBC's Jim Cramer on Monday analyzed Ford Motor 's move to slash prices for its electric F-150 Lightning pickup truck. Cramer said he thinks the price cuts are due at least in part to the novelty of EVs wearing off for many Americans. It doesn't help, Cramer said, that these cuts come just a few days after Tesla unveiled its first Cybertruck, the optics of which he called "suboptimal." "Ultimately, unless your costs come down — and that's what's happening with Ford — there will be no profit anyway," Cramer said. "But if an auto company doesn't make electric vehicles, that auto company will eventually be doomed, we all know that."
Persons: CNBC's Jim Cramer, Cramer, Ford, Tesla Organizations: CNBC, General, Ford
It's earnings season, and CNBC's Jim Cramer is giving you his list of haves and have nots. On Thursday, Cramer listed the companies and sectors he thinks are currently thriving on the market alongside the ones he believes are not. Many of these companies, Cramer said, are thriving due to their focus on AI, especially Alphabet, Microsoft and Nvidia. Cramer highlighted a few other contenders also doing well in the tech space like Oracle , Salesforce and Adobe . When it comes to the have nots, Cramer pointed to phone companies, specifically AT&T and Verizon .
Persons: Jim Cramer, Cramer, what's, Wynn, Darden, Kohl Organizations: Microsoft, Apple, Meta, Nvidia, Tesla, Adobe, MGM, Verizon, Nordstrom Locations: Chipotle
CNBC's Jim Cramer opined Tuesday about the value of sticking with his "Magnificent Seven," the seven tech stocks currently leading the market: Apple , Amazon , Alphabet , Meta , Microsoft , Nvidia and Tesla . "It's so aggravating to stand here and tell you to just stick with the 'Magnificent Seven' and friends," Cramer said, adding it's easier to talk about stocks when you're sure the price targets are going higher instead of lower. "It's just so darned easy to bet on the 'Magnificent Seven,' because everything always seems to go right with them," Cramer said. For example, Cramer said, one of Nvidia's models, FourCastNet, can predict high-impact weather models weeks in advance and is 45,000 times faster than current models. "Now, I know that Nvidia's weather forecasting doesn't result in higher earnings per share, at least not anytime soon," Cramer said.
Persons: CNBC's Jim Cramer, Cramer Organizations: Apple, Microsoft, Nvidia, Tesla, Nasdaq, CNBC's Charitable
The S & P 500 is up nearly 14% year to date, putting it on track for its best first-half performance since 2021. In fact, three of the best-performing S & P 500 stocks in the first half rode the wave more than most: Nvidia , Meta Platforms and Tesla . All three stocks have at least doubled year to date, with Nvidia leading the way. The chipmaker is up more than 180% in 2023, while Meta and Tesla are up 137% and 107%, respectively. Nvidia has quickly become an AI darling on Wall Street, with many analysts calling it the best way to gain exposure to the burgeoning trend due to its chips.
Persons: it's, Tesla, Goldman Sachs, Toshiya Hari, Mark Zuckerberg, — CNBC's Michael Bloom Organizations: Federal Reserve, Nvidia, Meta, Street Journal Locations: U.S, China, NVDA
"I decided where the business is, is in space," Mueller said in an interview with CNBC's "Manifest Space" podcast. Mueller started Impulse Space in 2021 and is building space tugs that can move with cargo to different orbits. So far, Impulse Space has raised $30 million in seed funding from investors such as Peter Thiel's Founders Fund and Lux Capital. But that pedigree doesn't mean Impulse is closed off to other startups in the space space – including rocket makers. Earlier this month Vast Space, which is building a commercial space habitat, selected Impulse to develop the Haven-1 Space Station's propulsion system.
Persons: Elon Musk, Tom Mueller, Mueller, Peter Thiel's, Mira, Morgan Brennan, Merlin, Musk Organizations: SpaceX, Fund, Lux Capital, Tesla, PayPal, TRW, CNBC Locations: Haven
Market Movers rounded up the best reactions from an investor and an analyst on Tesla . Dan Ives of Wedbush Securities and investor Ron Baron discussed the electric-vehicle maker after recent downgrades from Barclays and Morgan Stanley . The chairman and CEO of Baron Capital said on CNBC's " Squawk Box" Friday that he sees huge upside for Tesla, predicting the stock will hit $500 in 2025 , a potential gain of 89%. Baron also forecast shares will reach $1,500 in 2030 . Ives added that he sees big potential in the EV giant and artificial intelligence space.
Persons: Dan Ives, Ron Baron, Morgan Stanley, Baron Capital, Baron, Ives Organizations: Tesla, Wedbush Securities, Barclays, Baron
Market Movers rounded up the best reactions from investors and analysts on Tesla . The experts, including Jim Cramer , discussed the electric-vehicle maker after Morgan Stanley downgraded the stock from overweight to equal weight Thursday . The analyst behind the call, Adam Jonas, thinks the upside from artificial intelligence and excitement around it may be slowing down for Tesla, saying, "while the market may want to dream on the AI theme, we'd prepare to wake up to the sound of a blaring car horn." Despite the downgrade, Jonas raised his price target to $250, still 5.5% below Tesla's Thursday close.
Persons: Jim Cramer, Morgan Stanley, Adam Jonas, Tesla, Jonas Organizations: Tesla
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