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☆ CNBC Daily Open: Nvidia pushes past $3 trillion
▼ + stars: | 2024-06-06 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia passes AppleArtificial intelligence chipmaker Nvidia surpassed the $3 trillion market capitalization mark, pushing past Apple to become the second most valuable company behind Microsoft. Baron backs Musk's pay dealBillionaire investor Ron Baron has publicly defended Elon Musk's controversial $56 billion Tesla pay package. Elliott retakes SoftBank stakeElliott Management, an activist investor, has taken a $2 billion stake in SoftBank and is pushing for a $15 billion share buyback. In 2020, at Elliott's urging, SoftBank launched a $20 billion share buyback and asset disposal program.

Persons: Ron Baron, Elon, Baron, Elliott retakes SoftBank, Elliott, SoftBank, Son's, Archer, Goldman Sachs Organizations: New York Stock Exchange, CNBC, Nvidia, Nasdaq, Hewlett Packard Enterprises, Dow Jones, Treasury, Apple, Microsoft, Baron Capital, Elliott Management, Electric, FAA, Archer Aviation, Federal Aviation Administration, United Airlines Locations: New York City, U.S, Tesla, Delaware, SoftBank, Elliott's

A gas stock and an e-commerce giant were among the stocks being talked about by analysts on Wednesday. The introduction of 2nm, a new generation of chips that are faster and consume less power than previous chips, should lead demand higher for the global semicap industry, analyst Simon Coles wrote in a note. The analyst said Amazon will continue to see growth ahead, however, as it views the e-commerce giant as a strong AI beneficiary. He added that Amazon should see continued OI expansion as Amazon Web Services accelerates and has a multi-billion-dollar AI revenue run-rate. — Pia Singh 5:46 a.m.: JPMorgan upgrades Sunoco Sunoco's recent acquisition will drive a rebound in the stock, according to JPMorgan.

Persons: Bernstein, Simon Coles, TSMC, Coles, — Pia Singh, Adrian Yanoshik, Yanoshik, Stellantis, Fadi, ODFL, Fadi Chamoun, Chamoun, Mark Shmulik, Shmulik, Sunoco, Jeremy Tonet, Tonet, Fred Imbert Organizations: CNBC, Wednesday, JPMorgan, Barclays, Taiwan Semiconductor, BMO Capital Markets, Old Dominion, Dominion Freight, Amazon, Amazon Web Services, NuStar Energy, SUN, NS Locations: U.S, Netherlands

☆ Here's why privacy advocates say automakers are spying on drivers
▼ + stars: | 2024-06-05 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +3 min

Today's cars have an unprecedented capacity to surveil people inside and around them, and it's raising alarms with privacy advocates. A growing chorus of advocates and politicians say automakers aren't doing enough to protect consumer data from companies, criminals or even the government itself. "Our cars aren't a means of independence and privacy anymore," said Jen Caltrider, director of the Mozilla Foundation's Privacy Not Included program, in an interview with CNBC. GM, Nissan, Stellantis and BMW responded with statements saying they take customer privacy and data protection very seriously and comply with all applicable laws. In late April, two senators asked the Federal Trade Commission to investigate automakers for allegedly deceiving customers about the companies' data management practices.

Persons: Jen Caltrider, Caltrider, Nissan Organizations: General Motors, LexisNexis, GM, CNBC, Solutions, Mozilla Foundation, Mozilla, Nissan, BMW, Alliance, Automotive Innovation, Pew Research, Federal Trade Commission Locations: Florida

☆ Electric air taxi maker Archer Aviation gets key FAA sign-off
▼ + stars: | 2024-06-05 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Midnight, an all-electric aircraft from company Archer Aviation, is seen at the Salinas Municipal Airport in Salinas, California, on Aug. 2, 2023. The Federal Aviation Administration has granted Archer Aviation a key certification that gets the electric air taxi maker closer to eventually flying travelers, the company said Wednesday. United is working with Archer on what it would look like to enter the electric aircraft into service. Archer has partnered with automaker Stellantis to produce hundreds of the electric air taxis. On Tuesday, Joby said it plans to acquire the autonomy division of autonomous aviation company Xwing.

Persons: Archer, Adam Goldstein, Goldstein, couldn't, Andrew Chang, Joby Organizations: Archer Aviation, Salinas Municipal Airport, Federal Aviation Administration, United Airlines, CNBC, FAA, Joby Aviation, U.S . Air Force, Delta Air Lines Locations: Salinas, Salinas , California, Manhattan, Newark , New Jersey

☆ Jeep expects to grow plug-in hybrid SUV sales by as much as 50% in 2024
▼ + stars: | 2024-06-03 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

A Jeep Wrangler plug-in hybrid electric vehicle (PHEV) during the 2023 New York International Auto Show (NYIAS) in New York, on Wednesday, April 5, 2023. NEW YORK – Jeep plans to grow U.S. sales of its plug-in hybrid electric vehicles by as much as 50% this year as it leans into the technology as a bridge between its traditional gas-guzzling SUVs and all-electric vehicles amid a slower-than-expected sales pace of EVs. The Stellantis brand expects to sell 160,000 to 170,000 plug-in hybrid electric vehicles, or PHEVs, in the U.S. this year, an increase of 40% to 50% from last year, Jeep CEO Antonio Filosa told CNBC. "One of the pillars of growth for the market is going to be freedom of choice." PHEV sales at the level Jeep is expecting this year would top Stellantis' total 2023 U.S. sales of the vehicles, at roughly 143,000 units.

Persons: Antonio Filosa, Filosa Organizations: New York, Auto, CNBC, Jeep Locations: New York, U.S

☆ Jeep reveals its first EV for America
▼ + stars: | 2024-05-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Jeep, widely known for making rugged off-road vehicles, has unveiled its first fully electric SUV for the North American market. The Wagoneer S will test the appetite of Jeep customers for a fully electric model. It comes at a time of waning interest in electric vehicles, even as regulatory requirements for them become more stringent. The new Wagoneer S has a sleeker, more aerodynamic shape than the Jeep Wagoneer models sold today. Jeep is working on putting the Wagoneer S Trailhawk into production, Filosa said in an interview with CNN.

Persons: Antonio Filosa, that’s, Stellantis, Peter Valdes, Filosa, ”, Gilles, “ Organizations: CNN, Jeep, North Locations: Europe, Canada, .

☆ Jeep reveals all-electric Wagoneer S in EV offensive, starting at $72,000
▼ + stars: | 2024-05-30 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

2024 Jeep Wagoneer S EV JeepNEW YORK – The first all-electric Jeep SUV for the U.S. will be the Wagoneer S, starting at about $72,000 when it's scheduled to go on sale this fall. The $71,995 starting price of the Wagoneer S EV sits between gas-powered versions of the Wagoneer, starting at about $63,000, and more luxurious Grand Wagoneer, starting at roughly $92,000. 2024 Jeep Wagoneer S EV JeepHe also said the company will release electric, extended-range versions of the traditional gas-powered Wagoneer and Grand Wagoneer in 2025. 2024 Jeep Wagoneer S EV "R-Wing" JeepDespite sharing the "Wagoneer" name with Jeep's current gas-powered model, the five-passenger, two-row EV shares little with its three-row traditional internal combustion engine counterpart other than some Jeep styling. Stellantis design chief Ralph Gilles during the unveiling of the Jeep Wagoneer S EV on May 30, 2024 in New York City.

Persons: Antonio Filosa, Filosa, Michael Wayland, Jeep, Carlos Tavares, Tavares, " Tavares, Massimo Pinca, Wagoneer, Ralph Gilles, Stellantis, Gilles Organizations: EV, CNBC, Reuters, Cherokee, CNBC Stellantis, U.S, Jeep Locations: U.S, North America, Turin, Italy, PHEVs, Europe, Mexico, New York City

☆ US tells owners to stop driving older Nissan vehicles over air bag concerns
▼ + stars: | 2024-05-29 | by ( ) edition.cnn.com time to read: +2 min

Owners of nearly 84,000 older Nissan vehicles in the United States equipped with recalled, unrepaired Takata air bags should immediately stop driving them due to a safety hazard, the US National Highway Traffic Safety Administration said on Wednesday. “If you have one of these vehicles, do not drive it until the repair is completed and the defective air bag is replaced,” NHTSA said in a statement, noting that Nissan dealers are offering free towing, mobile repair and in some places loaner vehicles. Over the past decade, more than 100 million Takata air bag inflators have been recalled worldwide - including 7 million in the United States - in the biggest auto safety callback on record. The air bag problems have been blamed on propellant that can break down after long-term exposure to high-temperature fluctuations and humidity. Toyota in January urged owners of 50,000 of its older vehicles - the 2003-2004 model year Corolla, 2003-2004 Corolla Matrix and 2004-2005 RAV4 - in the United States to get immediate recall repairs because a Takata air bag inflator could explode and potentially kill motorists.

Persons: unrepaired, Stellantis, Dodge Organizations: Nissan, Traffic Safety Administration, Nissan Sentra, Nissan Pathfinder, NHTSA, Chrysler, Toyota Locations: United States

☆ Stellantis CEO says $25,000 Jeep EV coming to the U.S. 'very soon'
▼ + stars: | 2024-05-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Stellantis plans to offer a $25,000 all-electric Jeep vehicle in the U.S. "very soon" to better attract mainstream consumers amid slower-than-expected electric vehicle adoption, CEO Carlos Tavares said Wednesday. "In the same way we brought the 20,000 Euro Citroen e-C3, you will have a $25,000 Jeep very soon," he said Wednesday during a Bernstein investor conference. Stellantis currently offers an all-electric version of its Avenger SUV in Europe, starting at about 35,000 euros, or about $37,800, according to its website. Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis, Tesla and others. "If you ask me what is an affordable BEV, I would say 20,000 euros in Europe and $25,000 in the U.S.," Tavares said.

Persons: Carlos Tavares, Tavares, Stellantis, Tesla, BEV, " Tavares Organizations: Citroen Locations: U.S, Europe, China

☆ This Memorial Day kicks off a buyer’s market for new cars
▼ + stars: | 2024-05-24 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —Memorial Day weekend is shaping up to offer some of the best deals on new cars in years. The new car market is finally a buyer’s market again. The Volkswagen ID.4 and Kia Niro EV, for instance, are selling at average discounts of more than 13%, according to Edmunds.com. Vehicles from the outgoing 2023 model year now account for 6.8% of all new vehicles on dealers’ lots, according to Edmunds.com. Dealers for Stellantis brands – Dodge, Chrysler, Jeep and Ram – are offering the biggest discounts, according to Edmunds.com.

Persons: Covid, Cox, ”, Eric Barbosa, we’ve, “, Barbosa, –, Ram –, Edmunds, Ivan Drury, Brian Finkelmeyer, Brian Moody, Kelley Organizations: CNN, Toyota, Ford, Ford Bronco, Cox Automotive, GMC, Volkswagen, Kia Niro, Cavender Auto Group, Vehicles, Dealers, – Dodge, Chrysler, Jeep, Dodge, Lincoln Nautilus, Consumers, Honda, Kia, Autotrader Locations: San Antonio , Texas, Edmunds

☆ Autos giant Peugeot is trialing driverless tech — with a twist — for Amazon-style deliveries
▼ + stars: | 2024-05-22 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The Peugeot e-3008 electric car on display during a presentation at the Stellantis car factory in Sochaux, France. PARIS, France — French car giant Peugeot told CNBC this week that it's partnering with Vay, a German mobility startup, to integrate so-called "teledriving" tech — an alternative to autonomous cars — into its vehicles. The deal will see the two companies assess the use of Vay's teledriving tech on "last-mile delivery" vans and smaller logistics vehicles, with a focus on business-to-business (B2B) customers. The first pilot test drives of Vay's technology with Peugeot vehicles are expected to take place this year. Peugeot is looking to include the tech in its E-3008 electric SUVs and some electric vans.

Persons: Vay, Justin Spratt, Spratt Organizations: Peugeot, CNBC, Amazon Locations: Sochaux, France, PARIS

☆ A Loss at Mercedes-Benz Slows U.A.W.’s Southern Campaign
▼ + stars: | 2024-05-18 | by ( Neal E. Boudette | ) www.nytimes.com time to read: +1 min

About 56 percent of the Mercedes workers who voted rejected the U.A.W. In April, workers at a Volkswagen plant in Tennessee voted to join the union, the first large nonunion auto plant in the South to do so. I don’t think they’re going to stop just because they lost here.”Since its founding in 1935, the U.A.W. has almost exclusively represented workers employed by the three Michigan-based automakers: General Motors, Ford Motor, and Chrysler, now part of Stellantis. And it has long struggled to make headway at plants owned by foreign manufacturers, especially in Southern states where anti-union sentiment runs deep.

Persons: Weeks, ”, Arthur Wheaton Organizations: Mercedes, Benz, United Automobile Workers, Volkswagen, Daimler Truck, Cornell University School of Industrial and Labor Relations, General Motors, Ford Motor, Chrysler Locations: Alabama, Tennessee, North Carolina, Michigan, Stellantis, Southern

☆ Mercedes-Benz workers in Alabama vote against UAW union membership
▼ + stars: | 2024-05-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

United Auto Workers (UAW) members and supporters on a picket line outside the ZF Chassis Systems plant in Tuscaloosa, Alabama, US, on Wednesday, Sept. 20, 2023. Andi Rice | Bloomberg | Getty ImagesMercedes-Benz workers in Alabama have voted against union representation by the United Auto Workers, the National Labor Relations Board said Friday. Union organizing failed with 56% of the vote, or 2,642 workers, casting ballots against the UAW, according to the NLRB, which oversaw the election. More than 90% of the 5,075 eligible Mercedes-Benz workers voted in the election, according to the results. If no objections are filed, the election result will be certified, and the union will have to wait one year to file for a union election for a similar bargaining unit.

Persons: Andi Rice, Shawn Fain, Margaret Mock, Stellantis, Michael Wayland, Stephen Silvia, Southern, Mercedes, Silvia Organizations: United Auto Workers, UAW, ZF, Systems, Bloomberg, Getty, Mercedes, Benz, National Labor Relations Board, Detroit, Union, NLRB, Team, Detroit automakers Ford Motor, General Motors, Volkswagen, Southern Gamble, Workers, Foreign, American University Locations: Tuscaloosa , Alabama, Alabama, Tennessee, Sterling Heights , Michigan, U.S, Washington ,

☆ Dodge and Ram boss Tim Kuniskis, father of the Hellcat, to retire from Stellantis
▼ + stars: | 2024-05-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Kuniskis will be replaced by Chrysler brand CEO Christine Feuell, who will lead Ram in addition to Chrysler, and Matt McAlear, who will be promoted from Dodge's sales lead to brand CEO and a member of Stellantis' top executive team. DETROIT – Stellantis ' Dodge and Ram brands CEO Tim Kuniskis is retiring after a nearly 32-year career with the automaker and its predecessors, the company announced Friday. I wish him well in his retirement," Stellantis CEO Carlos Tavares said in a release. "I am confident that Chris will continue the work of Tim in leading the iconic Ram brand. Matt will bring a fresh perspective, while continuing to draw on the heritage of our iconic Dodge brand and leading the transition of the brand toward a sustainable future."

Persons: Christine Feuell, Ram, Matt McAlear, Dodge, Tim Kuniskis, Tim, Carlos Tavares, Chris, Matt, Sergio Marchionne, Kuniskis, Mark Stewart Organizations: Chrysler, Challenger, Dodge, DETROIT, U.S, Fiat Chrysler, French, PSA Groupe, Goodyear Tire Locations: American, North America, Durango, South America, Asia, Pacific, China

☆ What’s at stake in the union election at a Mercedes-Benz plant in Alabama
▼ + stars: | 2024-05-16 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +9 min

New York CNN —A high-stakes union election is underway at a Mercedes-Benz plant near Tuscaloosa, Alabama, the only plant for the luxury automaker in North America. The fallout will be significant whether the workers at Mercedes-Benz vote to join the United Auto Workers union or not. And last month, it won a union election at a Volkswagen plant in Chattanooga, Tennessee, its first victory in three attempts to organize the factory. Though a union win could generate momentum, it doesn’t mean a victory will mean other plants can overcome management opposition at other foreign-owned plants. Non-union automakers have already begun their response to the big union victories thus far.

Persons: Shawn Fain, Fain, ”, —, Tesla, Mercedes, Mercedes ’, “, MBUSI, Wheaton, Mercedes plant’s, It’s, Mercedes Benz, ” Wheaton, “ It’s, Harry Katz, ” Katz, Katz, ’ ” Katz, they’ve, CNN’s Chris Isidore, Nathaniel Meyersohn Organizations: New, New York CNN, Benz, Mercedes, United Auto Workers, UAW, Big Three, Volkswagen, Kia, Toyota, US, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Volvo, Team, The National Labor Relations Board, Benz US International, Member, Volkswagen didn’t, Cornell University School of Industrial and Labor Relations ’, CNN, “ Labor, Big, – GM, Ford, Cornell University School of Industrial and Labor Relations, P Global Market Intelligence, General Motors Locations: New York, Tuscaloosa , Alabama, North America, Chattanooga , Tennessee, United States, Vance , Alabama, Tuscaloosa, ”, Cornell University School of Industrial and Labor Relations ’ Buffalo, Alabama, Alabama , Georgia , Mississippi, South Carolina , Tennessee, Texas

☆ Biden's EV tariffs may not be enough to stave off the threat of Chinese vehicles in the U.S.
▼ + stars: | 2024-05-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

Win Mcnamee | Getty ImagesDETROIT – President Joe Biden's plan to quadruple tariffs on China-made electric vehicles is unlikely to stave off the threat of more Chinese cars and trucks on U.S. roadways. Automotive and trade experts say the increased tariffs are a near-term protectionism act that may delay, but won't stop, Chinese automakers from coming to the U.S. with EVs. The EV tariffs, including other increases regarding battery materials, were among new tariff rates on $18 billion worth of Chinese imports. The quality and build of vehicles by Chinese automakers have gotten significantly better in recent years, as the Chinese government has subsidized their operations to grow domestic production. GM and others have found it hard to compete against budget and mainstream Chinese vehicles, including EVs.

Persons: Joe Biden, Win Mcnamee, Joe Biden's, It's, Dan Hearsch, Stellantis —, Warren Buffett, BYD, Morgan Stanley, Tim Hsiao, Lincoln Organizations: White, Getty, DETROIT, Communist, U.S . Automotive, Motors, U.S, — GM, Ford Motor, Chrysler, Warren, EV, Wall Street, China Association of Automobile Manufacturers, U.S . Vehicles, Lincoln Nautilus, Volvo, Biden Administration Locations: Rose, Washington , DC, China, Mexico, Americas, U.S

☆ Stocks making the biggest moves midday: AMC, GameStop, Sony, Planet Fitness and more
▼ + stars: | 2024-05-14 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Meme stocks — Meme stocks roared for a second day with GameStop surging more than 65% and AMC popping over 70%. AMC's Tuesday rally came even after the movie theater said it completed a $250 million stock sale during Monday's wild trading. Sony — U.S.-listed shares jumped 5.3% after quarterly revenue came in at 3.5 trillion yen, topping the consensus expectation of 2.89 trillion yen from analysts polled by LSEG. On Holding — The shoe maker jumped 16% after first-quarter earnings came in well ahead of analysts' expectations. Boston Beer Company — Shares added 1% after the beer brewer was upgraded by Jefferies to buy from hold.

Persons: United, Newell Brands, Roth, —, Yun Li, Michelle Fox, Samantha Subin, Hakyung Kim, Brian Evans Organizations: GameStop, AMC, Sony —, LSEG, Vodafone — U.S, United Airlines —, Barclays, Boston Beer, Jefferies, JPMorgan Locations: Europe

☆ Stellantis to rapidly grow exports of Chinese EVs to Europe, other countries
▼ + stars: | 2024-05-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

That's due, in part, to new American tariffs on China-made EVs, Tavares said, citing among other reasons as well. The Biden administration on Tuesday announced stiff new tariff rates on billions' worth of Chinese imports, including quadrupling tariffs on imported Chinese electric vehicles, from 25% to 100%. The joint venture's expansion plans include at least six EVs by 2027, according to a presentation by Stellantis and Leapmotor. The announcement comes amid increasing geopolitical tensions surrounding China-made electric vehicles in the U.S., Europe and other regions. Many in and around the automotive industry fear the less-expensive, China-made vehicles will flood the markets, undercutting domestic-produced EVs.

Persons: Carlos Tavares, Zhu Jiangming, EVs, Tavares, Biden, " Tavares, Stellantis Organizations: Stellantis, Leapmotor, Europe —, Asia Pacific Locations: China, Europe, Europe — France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece, Romania, East, Africa, India, Asia, South America, U.S, Hangzhou

☆ G.M. Will Retire the Chevrolet Malibu to Make More Electric Cars
▼ + stars: | 2024-05-08 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

General Motors said on Wednesday that it would stop making the Chevrolet Malibu, the last affordable sedan in its U.S. model lineup and a venerable nameplate that was introduced in the 1960s when the company was a dominant force in the U.S. economy. For years, American drivers have been gravitating toward sport utility vehicles and away from sedans, compacts and hatchbacks. G.M.’s two Detroit rivals, Stellantis and Ford Motor, have also largely wiped their slates clean of cars in the United States. Last month, Subaru, a Japanese automaker, said it would stop making its Legacy sedan next year. produces the Malibu at a plant in Fairfax, Kan., and will continue to manufacture the car until later this year, when it plans to retool the factory to make a new version of the Chevrolet Bolt, an electric car, and the Cadillac XT4, a luxury S.U.V.

Persons: Motors, Chevrolet Organizations: Chevrolet Malibu, Detroit, Ford Motor, Foreign, Toyota, Honda, Hyundai, Toyota Camry, Honda Accord, Subaru Locations: U.S, United States, Japanese, Fairfax, Kan

☆ U.S. automakers like GM are rapidly losing ground in China, once an engine for growth
▼ + stars: | 2024-05-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

China was once a profit engine for GM, and its top sales market from 2010 to 2023. GM revealed several vehicles last week in China, including plug-in hybrid versions of its Buick GL8 minivan, a best-seller in China, and the Chevrolet Equinox crossover. "We think clearly that market has shifted and the landscape has shifted … with the capability of the Chinese [automakers]," Barra said. But it has had to aggressively cut prices to compete against Chinese automakers such ay BYD, Nio and others. Stellantis CEO Carlos Tavares earlier this year called Chinese automakers his company's "No.

Persons: Mary Barra, Jeff Kowalsky, we're, Barra, Paul Jacobson, GM wasn't, John Murphy, Michael Dunne, Dunne, Mark Fulthorpe, They'll, they've, Tesla, lockdowns, Elon Musk, Tingshu Wang, Reuters Tesla, Morgan Stanley, Adam Jonas, Musk, Junheng Li, Stellantis, Carlos Tavares, Zhu Jiangming, We've, We're, Ford, John Lawler, Lawler Organizations: General Motors Co, Bloomberg, Getty, General, GM, U.S, Chevrolet, SAIC, GM Pan, Asia Automotive Technology Center, Nurphoto, PSA Groupe, Chrysler, EVs, GM's, Buick, Wuling Motors, Motors, Bank of America Securities, China, Hummer, Durant Guild, America's, Detroit, P Global Mobility, Ford Motor, Tesla, Reuters, EV, Baidu, Warren Capital, Ford, Guangzhou Automobile Group, India & Asia, Lincoln, Lincoln Nautilus Locations: Detroit , Michigan, China, Barra, Beijing, Asia, Shanghai, Russia, India, Thailand, Australia, North America, South Korea, Brazil, Europe, GM's U.S, Qingdao, East China's Shandong, Indonesia, U.S, Nio, Greater China, South America

☆ Stocks making the biggest moves premarket: Eli Lilly, 3M, McDonald's and more
▼ + stars: | 2024-04-30 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Eli Lilly also hiked its full-year guidance for adjusted earnings and revenue, topping analysts' expectations. 3M – Shares advanced 7.7% after the maker of industrial products posted earnings of $2.39 per share on revenues of $7.72 billion. First-quarter revenue at the Netherlands-based automaker slid 12% due to lower sales plus foreign exchange effects, even as net pricing remained strong. HSBC — HSBC, Europe's largest bank by assets, added 4.2% after the firm beat first-quarter earnings expectations and announced the departure of its Group Chief Executive Officer, Noel Quinn. PayPal saw first-quarter revenue of $7.7 billion, topping analysts' $7.51 billion consensus estimate, according to LSEG.

Persons: Eli Lilly —, Eli Lilly, Meanwehile, Goldman Sachs, Coke, Tesla, Noel Quinn, Yun Li, Jesse Pound, Michelle Fox Theobald Organizations: Chrysler, HSBC — HSBC, GE Healthcare Technologies, GE, PayPal Locations: Chicago, Netherlands, Atlanta, China

☆ Safety group calls for Amazon to use new tech in delivery vans to prevent crashes
▼ + stars: | 2024-04-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

About half a million light vans are sold in the United States every year, with many of those going to companies like Amazon and FedEx. Light vans are those with a gross vehicle weight rating of less than 10,000 pounds. Lane departure prevention technology could have helped prevent or, at least, reduce the seriousness of, about 11% of those fatal crashes. That tech could help prevent 37% of fatal crashes involving delivery vans, the Institute said. In more than 60% of crashes and more than half of fatal crashes, the occupant of another vehicle or a pedestrian or cyclist was killed or injured.

Persons: Ram ProMaster, Ram, Van Organizations: CNN —, Amazon, FedEx, Insurance Institute for Highway Safety, Ford Transit, Mercedes Sprinter, Institute, Stellantis, IIHS, Ford Locations: America, United States

☆ European markets head for lackluster open ahead of euro zone inflation, GDP data
▼ + stars: | 2024-04-30 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading for a lackluster open Tuesday ahead of a busy day of earnings and major data releases in the region. Preliminary euro zone inflation data for April and first-quarter gross domestic product figures for the single currency area are due Tuesday, while earnings come from AF-KLM, Stellantis, Capgemini, Mercedes, VW, Lufthansa, Santander, Caixabank, OMV, HSBC, Glencore and Whitbread, among others. Overnight, Asia-Pacific markets largely rose on Tuesday, tracking Wall Street moves, with investors awaiting China manufacturing purchasing managers' index for April. Meanwhile, U.S. stock futures were little changed Monday night after a positive start to the week, as investors brace for megacap earnings, the latest Federal Reserve interest rate decision on Wednesday, and a jobs report. The central bank is broadly anticipated to keep interest rates steady, but traders will be looking to see if Fed Chair Jerome Powell's post-meeting comments are more hawkish after the recent spate of hotter inflation reports.

Persons: Jerome Powell's Organizations: AF, KLM, Stellantis, VW, Lufthansa, HSBC, Glencore, Whitbread Locations: Santander, Caixabank, OMV, Asia, Pacific, China

☆ Jeep-maker Stellantis reports sharp fall in revenue as it shifts car portfolio
▼ + stars: | 2024-04-30 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

Maserati's first GranCabrio convertible since 2019 is scheduled to go on sale this summer in the U.S. Global automaker Stellantis on Tuesday reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm. Chief Financial Officer Natalie Knight said year-over-year shipment and net revenue comparisons were difficult due to the company's transition to a "next generation product portfolio manufactured on new platforms." This is a breaking news story and will be updated shortly.

Persons: Maserati's, Natalie Knight Organizations: U.S . Global, Stellantis Locations: U.S

☆ How to back a lagging lithium miner and still generate income using options
▼ + stars: | 2024-04-29 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

Today, I'm focusing my attention on minerals used in modern technology and presenting a way to use options to play a lithium miner. The strategy gives a lower-risk way to get somewhat long this beaten-up miner without going all-in, and generating some income in the process. Lithium is used, as the name suggests, in lithium-ion batteries which are crucial for portable electronics, energy storage, and electric vehicles. Combined with understandably elevated options premiums this could set as a spot to begin entering a partial position, with some options overlays. Or, if the stock falls, would add to the long position at the short-put strike.

Persons: Tesla, Elon Musk, Albemarle Organizations: Albemarle Corporation, Volkswagen, BMW, Mercedes, Hyundai, GM, Ford, Toyota, Kia, Renault, Nissan Locations: Charlotte , NC, U.S, Albemarle, ALB

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