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☆ Here are Monday's biggest analyst calls: Tesla, Nvidia, Apple, Oracle, Carvana, Micron, Sprouts, Zillow, Coca-Cola & more
▼ + stars: | 2024-09-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are the biggest calls on Wall Street on Monday: Evercore ISI reiterates Alphabet as outperform Evercore says it's sticking with shares of the search giant. Morgan Stanley reiterates Micron as equal weight Morgan Stanley lowered its price target on the stock to $100 per share from $140. Morgan Stanley reiterates Tesla overweight Morgan Stanley says it's sticking with its overweight rating heading into Tesla's robotaxi day on Oct. 10. Morgan Stanley upgrades Ase Technology to overweight from equal weight Morgan Stanley said in its upgrade of Ase that the chipmaker's stock is defensive. Morgan Stanley upgrades Chart Industries to overweight from equal weight Morgan Stanley says the gas liquefication company has "significant exposure to both energy transition and renewables as well as traditional energy."

Persons: Evercore, Morgan Stanley, Tesla, Simon, Eaton, Wells, Pro Max, Carvana Evercore, Jack Sinclair, Curtis Valentine, Merchant Scott Neal, BTIG, Truist, Melius Organizations: DOJ, Micron, Technology, Industries, Citi, downgrades Colgate, Palmolive, CL, Barclays, GE, GE Vernova, JPMorgan, Apple, Pro, Ally, Mizuho, Oracle, " Bank of America, Nvidia, Bank of America Locations: Tesla's, Staples

Uber announced Friday it is expanding its partnership with Alphabet’s Waymo to offer robotaxi rides in Austin, Texas, and Atlanta beginning in early 2025. Uber riders in those cities can be matched with a driverless Waymo car for some trips, according to the companies. A Waymo spokesperson said it had no plans to partner with Uber in San Francisco and Los Angeles. Uber’s initial agreement with Waymo in Phoenix also included autonomous Uber Eats deliveries in the city. Some analysts were more hopeful for a potential Uber and Waymo expansion into San Francisco.

Persons: Uber, Alphabet’s Waymo, Tesla’s, Bernstein, Waymo, “ We’re, ” Uber, Dara Khosrowshahi, Tekedra Mawakana, “ We’ve, GM’s Cruise, Cruise, Wells, Ken Gawrelski Organizations: Uber, Waymo, Atlanta, Google Locations: Austin , Texas, Atlanta, San Francisco, Los Angeles, Phoenix, Austin, San Francisco , Los Angeles

Patrick T. Fallon | AFP | Getty ImagesUber announced Friday it is expanding its partnership with Alphabet's Waymo to offer robotaxi rides in Austin, Texas, and Atlanta beginning in early 2025. Uber riders in those cities can be matched with a driverless Waymo car for some trips, according to the companies. A Waymo spokesperson said it had no plans to partner with Uber in San Francisco and Los Angeles. The expansion into Austin and Atlanta won't include Uber Eats at first, according to the Waymo spokesperson, but they're exploring that possibility for the future. Some analysts were more hopeful for a potential Uber and Waymo expansion into San Francisco.

Persons: Patrick T, Fallon, Alphabet's Waymo, Uber, Tesla, Bernstein, Waymo, We're, Dara Khosrowshahi, Tekedra Mawakana, We've, Cruise, Wells, Ken Gawrelski, — CNBC's Laura Batchelor, Lora Kolodny Organizations: AFP, Getty, Uber, Waymo, Atlanta, Google Locations: Los Angeles , California, Austin , Texas, Atlanta, San Francisco, Los Angeles, Phoenix, Austin, San Francisco , Los Angeles

☆ PRO: Watch CNBC's full interview with Uber CEO Dara Khosrowshahi
▼ + stars: | 2024-09-13 | 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 EmailPRO: Watch CNBC's full interview with Uber CEO Dara KhosrowshahiDara Khosrowshahi, Uber CEO, joins 'Squawk on the Street' to discuss the company's partnership with Waymo, Uber's ability in different municipalities, and customer's willingness to accept an autonomous vehicle.

Persons: Dara Khosrowshahi Dara Khosrowshahi, Waymo

☆ Uber CEO on Waymo expansion into Austin and Atlanta
▼ + stars: | 2024-09-13 | 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 EmailUber CEO on Waymo expansion into Austin and AtlantaDara Khosrowshahi, Uber CEO, joins 'Squawk on the Street' to discuss the company's partnership with Waymo, Uber's ability in different municipalities, and customer's willingness to accept an autonomous vehicle.

Persons: Atlanta Dara Khosrowshahi, Waymo Organizations: Atlanta Locations: Austin

☆ Wall Street likes what Nvidia CEO said about the future and new AI chip rollout. So did we
▼ + stars: | 2024-09-11 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Investors returned to Nvidia stock Wednesday after CEO Jensen Huang made a compelling case at a major tech gathering for the innovation he strives for and the competitive moat he's built. There have been a lot of doubters on Wall Street since Nvidia reported quarterly results on Aug. 28 . NVDA YTD mountain Nvidia YTD On stage with Goldman Sachs CEO David Solomon, Huang was asked how he views the competition. The way that computers are built today, if you look at our new Blackwell system, we design seven different types of chips to create the system. While ducking a question about Nvidia stock, Solomon did tell CNBC that Nvidia is a "super company" that's well-positioned to keep succeeding.

Persons: Jensen Huang, Goldman Sachs, That's, David Solomon, Huang, Blackwell, Nvidia's, it's, ramping Blackwell, that's, It's, Solomon, Communacopia, Jim Cramer's, Jim Cramer, Jim, Sam Yeh Organizations: Nvidia, Technology Conference, CNBC, Goldman, Blackwell, AFP, Getty Locations: San Francisco, Communacopia, Taipei

☆ 5 careers in the space industry that new grads should focus on, according to a VC
▼ + stars: | 2024-09-07 | by ( Robin Madell | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. A 2024 report from McKinsey & Co. estimates the global space economy will balloon to $1.8 trillion by 2035, fueled by advances in AI. Chad Anderson, founder and managing partner of Space Capital, one of the first early-stage VC firms to focus exclusively on the space economy, told Business Insider that the space economy has plenty of technical career paths available. Anderson — who's invested in dozens of space ventures, including SpaceX, moon landers, satellites, and space tech, and founded Space Talent, an online resource for jobs in the space field and tech industry — shared his perspective as a VC on the top five careers in space that are on the rise. Specifically, expect heightened demand for orbital interior designers, space suit designers, space station industrial designers, and other lifestyle consultants for long-term tourism trips and crewed platforms.

Persons: —, Chad Anderson, Anderson — who's, landers, Anderson —, Anderson, they'll, you've, it's Organizations: Service, McKinsey & Co, Space, Business, SpaceX, Talent, Software, of Defense, NASA

☆ If GPS goes dark, Mesa Quantum has a backup plan
▼ + stars: | 2024-09-05 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +5 min

Cofounded by Mesa Quantum CEO Sristy Agrawal and CTO Wale Lawal in 2023, the company has won a $1.9 million Space Force grant to demonstrate its alternative to GPS technology in military and civilian applications. J2 Ventures cofounder and managing partner, Alex Harstrick, told CNBC his fund backed Mesa Quantum in part because of the founders' extraordinary technical background. Harstrick said his fund hopes that Mesa Quantum will have its first demonstration of mass scale "atomic clocks" (quantum timing sensors) validated by a top-tier semiconductor manufacturing partner" in the next few years. "The U.S. government has established major initiatives to spur innovation in this area and is seeking to purchase a million quantum sensors each year -- if they can simply be mass-produced," she explained. With its grant funding and seed round in place, Agrawal said, Mesa Quantum will look to grow its team in Boulder, especially hiring atomic molecular and optical physicists, engineers and manufacturing experts this year.

Persons: Truckers, Sristy Agrawal, Wale Lawal, Alex Harstrick, Agrawal, Lawal, Harstrick, He's, that's Organizations: GPS, Mesa Quantum, Space Force, J2 Ventures, CNBC, University of Colorado, National Institute of Standards, Technology, U.S . Air Force Academy, Rice University, Harvard, Mesa Quantum's Locations: Sao Paolo, Brazil, Richmond , Vermont, Ukraine, Boulder , Colorado, Boston, U.S, Boulder

☆ Boeing Starliner astronauts: NASA set to decide how they’ll return
▼ + stars: | 2024-08-24 | by ( Jackie Wattles | ) edition.cnn.com time to read: +8 min

CNN —The fate of two NASA astronauts — who have been in limbo aboard the International Space Station for about 80 days because of issues plaguing their Boeing Starliner spacecraft — may soon become clear. The space agency routinely delays news conferences, however, if discussions take longer than expected. Still, the federal agency funded SpaceX’s Crew Dragon and Boeing’s Starliner at the same time in 2014. The United Launch Alliance Atlas V rocket, topped by a Boeing CST-100 Starliner spacecraft, lifts off on an uncrewed test flight on December 20, 2019, in Cape Canaveral, Florida. If the Starliner capsule is ultimately certified, it could join SpaceX’s Crew Dragon in making routine trips to the space station to rotate staff.

Persons: —, Suni Williams, Butch Wilmore, Williams, Wilmore, ”, Mark Nappi, we’ve, Ken Bowersox, Bowersox, Starliner, Joe Raedle, SpaceX’s Organizations: CNN, NASA, Space, Boeing, Engineers, NASA NASA, SpaceX, International, Soyuz, United Launch Alliance, V Locations: Cape Canaveral , Florida

☆ Lucy Guo's second act: After the 29-year-old left Scale AI, she has the 'itch to build' something new
▼ + stars: | 2024-08-23 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +10 min

But Lucy Guo, the 29-year-old cofounder of data labeling startup Scale AI blurs the line between the two archetypes. Yet this is the persona many have come to know since Guo left Scale AI in 2018. But, midway through the program, they pivoted again, this time to what would eventually become Scale AI. Lucy GuoThe idea of Scale AI came from a suggestion by one of their YC roommates, who proposed creating an "API for humans." Advertisement"The itch to build"After Scale AI, Guo decided to apply her learnings to a new entrepreneurial opportunity: investing.

Persons: —, Lucy Guo, Billie Eilish, Charlie XCX, Guo, she's, Adam D'Angelo, Alexandr Wang, Alex, Wang, Guo's, Cruise, Dave Fontenot, Kylie Jenner's lipsticks, Jake Paul's, Passes Organizations: Service, Business, Fry's Electronics, Carnegie Mellon University, Thiel, Facebook, Multicoin, Bond Locations: Miami, Fremont , California, San Francisco, China, hackathons, Quora

☆ 10 things to watch in the stock market Friday including big earnings movers
▼ + stars: | 2024-08-23 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Citigroup opened a negative catalyst watch on Ulta Beauty and lowered its price target to $375 in anticipation of an earnings miss next week. Club holding TJX Companies ' quarterly results topped expectations earlier this week, and it also lifted its guidance. Uber has a similar partnership with Club holding Alphabet 's Waymo in Phoenix. 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: Jerome Powell's, Jackson, Piper Sandler, Chewy, Wynn, Locker, Mary Dillon, Uber, Wells, Jim Cramer's, Jim Cramer, Jim Organizations: Federal, Nasdaq, Dow, Citigroup, UBS, Las Vegas Sands, Wynn Resorts, Ross, TJX Companies, Burlington Stores, Nike, Piper, Cruise, Club, BJ's Wholesale, Jim Cramer's Charitable, CNBC Locations: Macau, Las Vegas, Cava, Wells Fargo, Phoenix

☆ GM’s Cruise will offer robotaxis on Uber’s platform starting next year
▼ + stars: | 2024-08-23 | by ( ) edition.cnn.com time to read: +2 min

Reuters —Cruise will offer its autonomous vehicles on Uber’s platform starting next year, the companies said on Thursday, as the General Motors-backed robotaxi firm attempts a comeback. The multi-year partnership will allow Uber riders to choose a trip using a Cruise autonomous vehicle, they said. Uber’s partnership with Cruise comes as Tesla CEO Elon Musk is set to unveil its delayed plans for a robotaxi product in October amid slowing demand for electric vehicles. Commercializing autonomous vehicles has been tougher than expected and taken longer than promised due to complex technology, soaring investments, tight regulatory scrutiny and federal investigations. Trips by self-driving vehicles on Uber’s platform rose six-fold in the June quarter year-on-year, helped by partnerships with companies including Waymo, as well as startup Waabi for freight services.

Persons: Reuters — Cruise, Uber, Alphabet’s, Cruise, Elon Musk, Dara Khosrowshahi Organizations: Reuters, General Motors Locations: Phoenix, U.S, San Francisco

☆ AI and security concerns fuel a shift to on-premises IT infrastructure as companies seek more control of data
▼ + stars: | 2024-08-13 | by ( Matthew S. Smith | ) www.businessinsider.com time to read: +9 min

Organizations are shifting to hybrid cloud and on-prem IT infrastructure for more control over data. Rather than depending solely on third-party cloud services, they're looking to operate their IT data networks on-site. Hewlett Packard EnterpriseA push for on-premThis trend is a response to concerns about the reliability, security, and cost-effectiveness of cloud services. Kindo provides a secure management platform for AI systems that lets organizations control which users have access to internal AI resources. The winners will be those that can bridge cloud and on-prem to provide the level of control organizations are demanding.

Persons: —, prem doesn't, Tan, prem, There's, it's, Peter Wang, Anaconda, Wang, Dennis Duckworth, Duckworth, Chris Stegh, Stegh, They've, they've Organizations: prem, Service, Hewlett Packard Enterprise, Anaconda, Anaconda Anaconda, Amazon Web Services, eGroup Enabling Technologies Locations: Germany, Switzerland, Portland , Oregon, San Francisco

☆ Uber reports better-than-expected results for second quarter
▼ + stars: | 2024-08-06 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

For the third quarter, Uber expects bookings of $40.25 billion to $41.75 billion. Uber's "monthly active platform consumers" (MAPCs) reached 156 million in the second quarter with 2.77 billion trips via the Uber platform. This compares to 137 million MAPCs and 2.28 billion trips during the same period a year ago. Uber also reported $1.02 billion in net income for the quarter, which included a $333 million pre-tax benefit from "revaluations of Uber's equity investments." The companies also plan "to collaborate on future BYD autonomous-capable vehicles to be deployed on the Uber platform," Uber said on Tuesday.

Persons: Dara Khosrowshahi, Uber, Gross, Instacart, Tesla Organizations: Uber, LSEG Revenue, Bank of America Locations: Davos, Switzerland, Europe, Latin America, U.S

☆ Tech's Divorced Dad Energy: Silicon Valley Is Letting Down Customers
▼ + stars: | 2024-08-06 | by ( Ed Zitron | ) www.businessinsider.com time to read: +15 min

Big Tech companies became less known for one particular product. Instead, Big Tech became obsessed with a series of half-baked boondoggles that seemed revolutionary, yet in practice, were either not reliable enough to be trusted or simply not that useful. Big Tech has become sullen, entitled, and lazy, believing that nobody else could snatch away its precious customers. Related storiesEven when tech companies aren't trying to shove AI down our throats, they fall into a similar trap. AdvertisementWhen the public eventually walks out, I don't believe Big Tech is even capable of making the adjustments necessary to win them back.

Persons: Smart, surly, Apple, Meta, Tesla, Elon Musk, Musk, —, Goldman Sachs, Jim Covello, Sundar Pichai, it's, Tech's, Satya Nadella Organizations: Google, Microsoft, Apple, Big Tech, Siri, Amazon, Meta, Tech, Facebook, cryptocurrency, Porsche, Microsoft Windows Locations: America

☆ Earnings playbook: Disney and this industrial giant are among companies slated to report this week
▼ + stars: | 2024-08-04 | by ( Fred Imbert | ) www.cnbc.com time to read: +4 min

More than 70 S & P 500 names are slated to report this week, including Disney and Caterpillar . Tuesday Uber Technologies is set to report earnings before the bell. This quarter: The ride-hailing giant is expected to report a 70% year-over-year increase in earnings, LSEG data shows. What history shows: Uber has beaten earnings expectations in six of the last seven quarters, according to data from Bespoke Investment Group. Wednesday Walt Disney is set to report earnings before the open.

Persons: Eli Lilly, Benjamin Black, Uber, Walt Disney, Wells, Steven Cahall, LLY, Eli Lilly's Organizations: Disney, Caterpillar . Pharmaceutical, behemoth, CNBC, Technologies, Investors, Autonomous Vehicle, Deutsche Bank, Investment, Caterpillar, JPMorgan Locations: California

☆ Kamala Harris Can Be the Pro-Innovation President Silicon Valley Needs - The New York Times
▼ + stars: | 2024-08-03 | by ( Reid Hoffman | ) www.nytimes.com time to read: +1 min

There is a major opportunity for Vice President Kamala Harris and the Democrats in the House and Senate to set our country on a different course. At a time when massive technological shifts are happening around the world, what the former Google C.E.O. In this moment, we need a leader who recognizes that innovation is the key to economic prosperity, national security and breakthrough progress on climate change and other pressing issues. She was California’s attorney general during the smartphone boom of the 2010s, when tax revenues from tech company I.P.O.s and stock market gains turned California’s budget deficits into surpluses and reinforced the state’s standing as the world’s innovation leader. Ms. Harris’s familiarity with the needs of the tech industry and her ability to innovate and protect the public interest mark her as a 21st-century leader.

Persons: Kamala Harris, Eric Schmidt, America’s, Harris, Ms Organizations: Google Locations: Francisco’s

☆ Tesla's biggest competitor just announced a collab with Uber
▼ + stars: | 2024-08-01 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTesla's biggest competitor, BYD, just launched a big partnership with Uber. AdvertisementThe partnership also ups BYD's international visibility, as Uber passengers ride in cars they might not have otherwise tried out. AdvertisementThe Uber partnership may also mitigate a European Union tariff on Chinese EV makers. In late June, Volkswagen said it would invest up to $5 billion in US EV maker Rivian, which would develop software for both companies' cars.

Persons: —, Uber, Matt Bryson, Bryson, giant's, Dara Khosrowshahi, BYD, Tesla, Tesla's robotaxis Organizations: Service, Business, Xchange Leasing, Lion City Rentals, Tesla, Western, Uber, Volkswagen, Rivian Locations: Europe, America, East, Canada, Australia, New Zealand, Singapore, Russia

☆ World’s first major AI law enters into force — here's what it means for U.S. tech giants
▼ + stars: | 2024-08-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

"It is likely to impact many businesses, especially those developing AI systems but also those deploying or merely using them in certain circumstances." For AI applications deemed to be "high-risk," for example, strict obligations will be introduced under the AI Act. watch nowExamples of high-risk AI systems include autonomous vehicles, medical devices, loan decisioning systems, educational scoring, and remote biometric identification systems. Generative AI is labelled in the EU AI Act as an example of "general-purpose" artificial intelligence. General-purpose AI models include, but aren't limited to, OpenAI's GPT, Google's Gemini, and Anthropic's Claude.

Persons: Dado Ruvic, Tanguy Van Overstraeten, Charlie Thompson, Appian, Thompson, Meta, OpenAI's, Google's, Anthropic's Claude, Jamil Jiva, Linedata, GDPR, Jiva Organizations: Reuters, European Commission, EU, CNBC, Microsoft, Google, Apple, Web Services, Big Tech, EMEA, Data, Facebook, Companies, AI Office, Commission Locations: Brussels, EU, Europe

☆ Self-driving tech company WeRide accelerates global expansion as transportation industry adopts AI
▼ + stars: | 2024-07-30 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +4 min

(Photo by Jia Tianyong/China News Service/VCG via Getty Images) China News Service | China News Service | Getty ImagesSelf-driving technology firm WeRide is accelerating its global expansion as the artificial intelligence boom boosts adoption of machine learning in transportation. Things are moving relatively fast because of the development of AI right now," said Sebastian Yee, Singapore director of business development at WeRide. In June, the firm began safety testing for "Robosweepers" in Singapore, following similar rollouts in multiple cities in China. watch now"WeRide is the only company which has [driverless] permits from the U.S., China, UAE and Singapore. Some [companies] just have permits from one or two countries, but we have four countries," said Kerry Xu, Singapore general manager of WeRide.

Persons: WeRide, Jia Tianyong, Sebastian Yee, Kerry Xu, Xu, Yee Organizations: SAE, China News Service, Getty Images, Getty, Logistics, Renault, Nissan, Mitsubishi, GAC Group, Nasdaq, U.S, SEC, Changi Airport Locations: BEIJING, CHINA, Beijing, China, Singapore, WeRide, Silicon Valley, Guangzhou, U.S, UAE, Japan, Europe, Cayman Islands, Southeast Asia

☆ Elon Musk Says Robotaxis Are Tesla’s Future. Experts Have Doubts.
▼ + stars: | 2024-07-29 | by ( Jack Ewing | Peter Eavis | ) www.nytimes.com time to read: +1 min

In Mr. Musk’s telling, one of Tesla’s main A.I.-based businesses will be driverless taxis, or robotaxis, that can operate pretty much anywhere and in any condition. Tesla is very close to perfecting such vehicles and will easily secure regulatory approval to put them on roads, Mr. Musk said last week on a conference call to discuss the company’s second quarter results. Mr. Musk’s vision of autonomous vehicles, or A.V.s, is not limited to cars that drive themselves. He has also claimed that individuals who buy Teslas would be able to make money when they are asleep or at work by letting the company use their cars as robotaxis. The robotaxi service will, Mr. Musk has said, catapult Tesla’s stock market valuation, around $700 billion now, into the trillions of dollars.

Persons: Elon Musk, Musk’s, Tesla, Musk Organizations: Wall

☆ The 'great rotation' faces its biggest test yet: earnings from Microsoft, Meta, Apple and Amazon
▼ + stars: | 2024-07-28 | by ( Jim Cramer | ) www.cnbc.com time to read: +15 min

That will be the case in this jam-packed week , with the earnings from Microsoft on Tuesday, Meta Platforms on Wednesday, and Apple and Amazon on Thursday. If Alphabet said it cut back on data-center spending, then it would be alleged the company is falling behind Amazon and Microsoft in the AI race. The company also is now dogged by another competitor in search engines after ChatGPT creator OpenAI announced a prototype of SearchGPT . Apple reports on Thursday, and if you think the cloud-computing heavyweights are spending on too much AI, then you should be buying Apple. President Joe Biden always chose to have his agencies wear down tech companies.

Persons: Don Forst, There's, hadn't, OpenAI, Tesla, Elon Musk, —, Russell, Mark Zuckerberg, Nvidia's Jensen Huang, It's, Zuckerberg, EssilorLuxottica —, EssilorLuxottica, Andy Jassy, Stanley Black, Decker, it's, Kamala Harris, Tony West, Joe Biden, Harris, Biden, Biden couldn't, Gina Raimondo, Raimondo, Donald Trump, Sen, JD Vance, Vance, Trump, Xi Jinping's, Abbott, Jim Cramer's, ABT, Jim Cramer, Jim, Sebastien Bozon Organizations: Los Angeles Herald Examiner, Microsoft, Apple, Google, YouTube, Amazon, Nvidia, Siggraph, Federal Reserve, Mohawk Industries, Fortune Brands, Club, Democratic, Uber Technologies, titans, Department of Justice, Federal Trade Commission, Department of Commerce, Republican, Big Tech, Republican Party, Trump, Abbott Laboratories, Drug Administration, CNBC, AFP, Getty Locations: Los Angeles, Denver, Ray, California, U.S, Ohio, Taiwan, St, Louis , Missouri

☆ CNBC Daily Open: Nasdaq futures fall as Alphabet, Tesla earnings disappoint
▼ + stars: | 2024-07-24 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Nasdaq futures fell after Alphabet and Tesla reported earnings. Tesla auto revenue dropsTesla's second-quarter earnings fell short of expectations as automotive sales declined for the second consecutive quarter. YouTube's ad revenue fell short of estimates amid increased competition from platforms like TikTok. GM skidsGeneral Motors' beat second-quarter earnings estimates but shares fell 6% as it restructures its struggling autonomous vehicles and Chinese business. RBC Capital Markets' Tom Narayan highlighted GM's expectation that second-half earnings will be $2.5 billion lower than in the first half.

Persons: Tesla, Ruth Porat, Morgan Stanley's Adam Jonas, Tom Narayan Organizations: New York Stock Exchange, CNBC, Nasdaq, Dow Jones, Treasury, Tesla, GM, General, RBC Capital Markets, United Parcel Service, UPS, Barclays, CNBC Pro Locations: New York City, U.S, Waymo

(This is CNBC Pro's live coverage of Wednesday's analyst calls and Wall Street chatter. "At this point, we believe EPS and investor sentiment have troughed and believe the risk-to-reward profile skews favorable," wrote analyst Nik Modi. "However, with minimal upside to our revised $47 price target and a relatively 'balanced' risk-reward between our $28 bear case …. –Samantha Subin 5:54 a.m.: Wall Street stands by Alphabet, AI potential post-earnings Wall Street analysts remain bullish on the outlook for Alphabet , even after the stock fell on the back of its second-quarter results. His price target of $425, up from $320, implies upside of more than 28% from Tuesday's close.

Persons: Goldman Sachs, Lauder, Estee Lauder, Nik Modi, Modi, Estee, – Samantha Subin, Morgan Stanley downgrades, Morgan Stanley, Adam Jonas, Jonas, Samantha Subin, Dan Levy, Tesla, Michaeli, Bernstein's Toni Sacconaghi, Mark Delaney, GOOGL, Doug Anmuth, Justin Post, Eric Sheridan, Brent Thill, Sheridan, Fred Imbert Organizations: CNBC, Spotify, RBC, Markets, Motors, GM, General Motors, Tesla, Barclays, YouTube, Bank of America, Google, Jefferies Locations: China, 1H25, Tuesday's

☆ GM indefinitely delays Cruise Origin autonomous vehicle
▼ + stars: | 2024-07-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors is indefinitely delaying production of its Origin autonomous vehicle as its embattled Cruise self-driving unit attempts to relaunch operations. The Detroit automaker said Tuesday its majority-owned robotaxi unit will instead focus on using the next-generation Chevrolet Bolt for development of autonomous vehicles. Cruise has been using now-discontinued Bolts for autonomous vehicle development for several years. It was not immediately clear how many Origin vehicles the facility has produced, however it was previously reported that ex-Cruise CEO Kyle Vogt, a cofounder, told staff that hundreds of Origin vehicles had been produced. Cruise in February 2022 petitioned U.S. regulators seeking permission to deploy up to 2,500 self-driving Origin vehicles annually without the human controls.

Persons: Mary Barra, Cruise's, Cruise, Rowe Price, Kyle Vogt Organizations: DETROIT, Motors, Cruise, Detroit, GM, Honda Motor, Microsoft, Walmart Locations: Detroit, San Francisco, Phoenix , Houston, Dallas, Dubai, U.S

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