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☆ How much of Musk’s wealth comes from tax dollars and government help?
▼ + stars: | 2024-11-20 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

Government crucial to Musk’s net worthIt’s worthwhile to ask just how much of his world-leading net worth comes from government help over the last 10 to 15 years. Tesla and SpaceX got started – and survived their early days – with assistance from state and federal policies, government contracts and loans. Tesla buyers received federal tax credits worth an estimated $3.4 billion before the perk disappeared entirely for Tesla buyers at the end of 2019. “Take away the subsidies, it will only help Tesla,” Musk posted on his social media platform X in July. According to USASpending.gov, the government database that tracks federal spending, SpaceX has signed contracts worth nearly $20 billion.

Persons: New York CNN — Elon Musk, Donald Trump, Musk, ”, Daniel Ives, SpaceX doesn’t, Tesla’s, Noah Berger, Tesla, Trump, ” Musk, Elon Musk, Frederic J . Brown, Ives, Brandon Bell, USASpending.gov, Casey Dreier, ” Dreier, “ Elon, Dreier, CNN’s Jackie Wattles Organizations: New, New York CNN, SpaceX, Trump, Government, Wedbush Securities, Reuters, Department of Energy, Biden, US, Tesla, Getty, NASA, International Space, Planetary Society Locations: New York, Fremont , California, Hawthorne , California, AFP, Brownsville , Texas, Russia

☆ Elon Musk bet big on Trump. Here’s what he stands to gain — and lose — from his win
▼ + stars: | 2024-11-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

New York CNN —No single business leader did more to support former President Donald Trump’s candidacy than Elon Musk. Musk has donated nearly $119 million so far to a political action committee he set up to support Trump, according to Federal Election Commission filings. Elon Musk steps onto stage as Republican presidential nominee, former President Donald Trump addresses a campaign rally in Butler, Pennsylvania on October 5. It will only help Tesla,” Musk posted on X in July. It’s not likely Trump would want to cut that support, and the promise of jobs in those states, even if they will eventually provide competition for Musk and Tesla.

Persons: Donald Trump’s, Elon, Trump, Musk, He’s, ”, Daniel Ives, Tesla, Kamala Harris, “, Biden, Elon Musk, Donald Trump, Anna Moneymaker, he’s, ” Musk, Ives, ” Ives, It’s, Jim Farley, Jeff Schuster, we’re, Jade Gao Organizations: New, New York CNN, Trump, Wedbush Securities, SpaceX, —, Treasury Department, Republican, EV, Tesla, EPA, Industry, Getty, Boeing, NASA, International Space Locations: New York, Tuesday’s, America, United States, Butler , Pennsylvania, Trump’s, Europe, Asia, California, China, Shanghai, Beijing, AFP, Tesla

☆ Ives: SAP will be a foundational player in the AI market.
▼ + stars: | 2024-10-21 | 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 EmailIves: SAP will be a foundational player in the AI market. Daniel Ives, Managing Director of Equity Research at Wedbush Securities, anticipates strong SAP growth in AI as 45% of workloads shift to the cloud, viewing SAP's earnings as a key indicator for Amazon and Google amid rising enterprise spending on AI.

Persons: Daniel Ives Organizations: Ives, SAP, Equity Research, Wedbush Securities, Google

☆ Ives: Chip demand is 15 to 1 supply.
▼ + stars: | 2024-09-30 | 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 EmailIves: Chip demand is 15 to 1 supply. Daniel Ives, Managing Director of Equity Research at Wedbush Securities, discusses the tech sector's future, emphasizing the significant demand for AI chips and software.

Persons: Daniel Ives Organizations: Ives, Equity Research, Wedbush Securities

☆ Tesla's still not making huge profits and probably won't for years. But these analysts and investors still love the company.
▼ + stars: | 2024-07-24 | by ( Shubhangi Goel | ) 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. "There are other companies that are $3 trillion market caps — I think Tesla can be in that league," he said. Related storiesTasha Keeney, a director at longtime Tesla investor ARK Invest, said on CNBC on Tuesday that ignoring Robotaxis today is a huge mistake. Ron Jewsikow, a Guggenheim analyst, said on CNBC that he is not worried about whether Tesla will be able to deliver its Robotaxis. AdvertisementIn China, Apollo, which is owned by Baidu, is offering rides for just over 10 cents a mile, Jewsikow said.

Persons: —, Tesla, Cybertruck, Elon Musk's, I'm, Gene Munster, Munster, Optimus, Tasha Keeney, it's, Price, Tesla optimist Daniel Ives, Ron Jewsikow, He's, Jewsikow Organizations: Service, Investors, Business, Deepwater Asset Management, CNBC, ARK Invest, Tesla optimist, Guggenheim, Baidu Locations: China

☆ Tesla's still not making big profits and probably won't for years — but analysts and investors still love it
▼ + stars: | 2024-07-24 | by ( Shubhangi Goel | ) 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. "There are other companies that are $3 trillion market caps — I think Tesla can be in that league," he said. AdvertisementAnother analyst sees Tesla's recent price hikes as a good sign. Ron Jewsikow, a Guggenheim analyst, said on CNBC that he is not worried about whether Tesla will be able to deliver its Robotaxis. AdvertisementIn China, Apollo, which is owned by Baidu, is offering rides for just over 10 cents a mile, Jewsikow said.

☆ Tesla and Alphabet Earnings Prompt Big Tech Stock Decline
▼ + stars: | 2024-07-24 | by ( Danielle Kaye | More About Danielle Kaye | ) www.nytimes.com time to read: +1 min

Earnings reports from Google’s parent company, Alphabet, and Tesla on Tuesday led to a drop in big tech stocks, while shares of smaller companies remained strong. The Russell 2000, an index of smaller companies that’s considered to be more tied to the ebb and flow of the economy, was down just 0.48 percent, in line with trading in recent weeks and indicating that shares of smaller companies stayed relatively robust. Investors were expecting perfection from the tech giants’ earnings reports, said Daniel Ives, a tech analyst at Wedbush Securities. “Investors are negatively reacting to any whiff of softness that we see from these big tech players,” he said. “I think it’s an overreaction after a massive run in tech stocks.”

Persons: Tesla, Russell, Daniel Ives, Ives, ”, “ Organizations: Nasdaq, Wedbush Securities

☆ Fears are rising ocean freight rates may surpass $20,000 with no relief for global trade into 2025
▼ + stars: | 2024-06-13 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

Goetz Alebrand, head of ocean freight at DHL Global Forwarding Americas, said he is not optimistic freight rates will decline anytime soon. "It is unlikely that the situation will resolve itself soon and [ocean freight] rate levels might not ease up before Chinese New Year," Alebrand said. Air freight prices and demand are going higher According to freight intelligence firm Xeneta, China to North America air freight spot rates increased 43%, to $4.88 per kilogram, year-on-year in May. According to ocean freight data from FreightWaves SONAR, container bookings and freight orders from shippers to the ocean carriers are down 48% month-over-month. Xeneta data tracking ocean freight rates from the Far East to the U.S. East Coast, West Coast and Gulf Coast ports shows the historic run.

Persons: Joe Giddens, Paul Brashier, Brashier, Goetz Alebrand, Alebrand, Alan Murphy, Murphy, Peter Boockvar, Boockvar, We've, Nate Herman, Xeneta, Daniel Ives, Niall van de, van de, Good Hope Organizations: Federal Reserve, CNBC, ITS Logistics, DHL Global, Intelligence, Defense Intelligence, U.S ., Bleakley Financial, American Apparel and Footwear Association, Global, ", Apple, Wedbush Securities, Trade, Good Locations: Asia, Europe, Sea, Red, Africa, Shanghai, Rotterdam, Genoa, U.S . West Coast, East Coast, U.S, China, North America, U.S . East Coast , West Coast, Gulf Coast

☆ Wall Street is worried about Tesla's Q1 deliveries as analysts slash estimates
▼ + stars: | 2024-04-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Wall Street is worried about Tesla's Q1 deliveries. Wedbush Securities analysts have called it "a nightmare quarter for Tesla." AdvertisementWall Street is getting nervous about Tesla's Q1 deliveries. Analysts' consensus puts the number of deliveries at 477,000 for Q1, according to UBS, which itself has cut its estimate to 432,000. Wedbush analysts called the company's Q1 deliveries "a nightmare quarter for Tesla."

Persons: —, Morgan Stanley, Deutsche Bank's Emmanuel Rosner, Tesla, Daniel Ives, Elon Musk Organizations: Wedbush Securities, Tesla, Service, Deutsche Bank, EV maker's, UBS, Bloomberg, Deutsche, Wall, CNBC, Business Locations: Berlin, China

☆ Hertz CEO out following electric car ‘horror show’
▼ + stars: | 2024-03-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —Trouble and turmoil continue at rental car company Hertz. But the problem for Hertz wasn’t necessarily that the cars were electric, and customers simply do not want to drive electric cars. There might not be a charging station, or enough time, for a rental car customer to charge an EV, Ives said. These cases sometimes resulted in Hertz customers being arrested and even imprisoned. Scherr wasn’t the one who decided to make the big bet on EV demand by rental car customers.

Persons: Stephen Scherr, Goldman Sachs, He’ll, Gil West, Hertz, EVs, Tesla, ”, Daniel Ives, Ives, ” Ives, Scherr, Mark Fields, Ford, Paul Stone, Stone Organizations: New, New York CNN, Hertz, Delta Air Lines, General Motors, American, Wedbush Securities, EV, Volvo, Avis Budget Group, Tesla, Avis Budget, Enterprise Locations: New York, EVs, Tesla, Polestar

Apple (AAPL), Amazon (AMZN) and Nvidia (NVDA) made news heading into the end of this holiday shortened trading week. AAPL YTD mountain Apple (AAPL) year-to-date performance The news: Apple smartphone sales in China reportedly lagged those of Hauwei and Xiaomi during the country's recent Singles Day shopping event. Yes, there is smartphone competition to the iPhone in China, but Apple remains an aspirational brand there (and everywhere) because of its pricing, product quality and closed ecosystem. Nvidia garners around 20% of its revenue from China, and continues to face competition from Chinese companies like Huawei. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Daniel Ives, Ives, we're, it's, Jim Cramer's, Jim Cramer, Jim Organizations: Apple, Nvidia, Reuters, Counterpoint Research, Huawei, Xiaomi, Miami Dolphins, New York Jets, National Football, NFL, Amazon, CNBC, Getty Locations: China, Asia, India, Taipei, Taiwan

Nov 17 (Reuters) - The board of the company behind ChatGPT late on Friday fired OpenAI CEO Sam Altman - to many, the human face of generative AI - sending shock waves across the tech industry. Backed by billions of dollars from Microsoft (MSFT.O), OpenAI kicked off the generative AI craze last November by releasing its ChatGPT chatbot, which became one of the world's fastest-growing software applications. He was the face of OpenAI and the wildly popular generative AI technology as he toured the world this year. Altman posted on X shortly after OpenAI published its blog: "i loved my time at openai. "That said, we believe Microsoft and Nadella will exert more control at OpenAI going forward with Altman gone."

Persons: Sam Altman, Mira Murati, OpenAI, Altman, what’s, Murati, Tesla, Satya Nadella, Mira, Nadella, Eric Schmidt, Daniel Ives, Thomas Hayes, Davidson, Gil Luria, Samrhitha, Jeffrey Dastin, Anna Tong, Krystal Hu, Shounak Dasgupta, Kenneth Li, Richard Chang Organizations: Microsoft, Union, U.S, Reuters, OpenAI, Wedbush Securities, Economic Cooperation, Thomson Locations: openai, Asia, San Francisco, Oakland , California, Bengaluru, New York

The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. The GM workers will return to work after an official announcement of the deal, two sources said. Ford shares fell 2% while Stellantis shares were down 1.5% in Milan. Excluding Monday's share moves, GM and Ford shares have lost roughly a fifth of their value since the strike began while Stellantis shares have fallen 1%. "The Street is glad to have this UAW nightmare in the rear view mirror with a less onerous deal than originally feared for the Detroit Big 3," Wedbush analyst Daniel Ives said.

Persons: Rebecca Cook, Stellantis, Patrick Anderson, Shawn Fain, Fain, Joe Biden, Biden, Tesla, Ford, Erik Gordon, Daniel Ives, David Shepardson, Joseph White, Shivansh Tiwary, Deepa Babington, David Gaffen, Peter Henderson, Alistair Bell Organizations: General Motors, REUTERS, Detroit, United Auto Workers, UAW, Reuters, Detroit Three automakers, Ford Motor, Chrysler, Anderson Economic Group, GM, Ford, Democratic, Detroit Three, Detroit automakers, EV, Toyota, University of Michigan, Kentucky, Detroit Big, Thomson Locations: Detroit , Michigan, U.S, Detroit, Milan, Arlington , Texas, Tahoe, Sterling Heights , Michigan, Hill, Tenn, Washington

☆ VIEW Ford reaches tentative deal with striking UAW workers
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 25 (Reuters) - The United Auto Workers (UAW) union reached a tentative labor deal on Wednesday with Ford Motor (F.N), the first of Detroit's Big Three car manufacturers to negotiate a settlement to strikes joined by 45,000 workers since mid-September. DANIEL IVES, ANALYST AT WEDBUSH SECURITIES"It's a relief for investors that this UAW nightmare is now over for Ford. JOE BIDEN, U.S. PRESIDENT"I applaud the UAW and Ford for coming together after a hard fought, good faith negotiation and reaching a historic tentative agreement tonight. GENERAL MOTORS STATEMENT"We are working constructively with the UAW to reach a tentative agreement as soon as possible." STELLANTIS STATEMENT"We remain committed to working toward a tentative agreement that gets everyone back to work as soon as possible."

Persons: Rebecca Cook, HARLEY SHAIKEN, DANIEL IVES, Farley, Ford, JOE BIDEN, JEFFREY SCHARF, SHAWN FAIN, Abhirup Roy, David Shepardson, Joe White, Peter Henderson, Christopher Cushing Organizations: Auto Worker, Ford Michigan Assembly Plant, Wayne , Michigan U.S, REUTERS, United Auto Workers, UAW, Ford Motor, UNIVERSITY OF, TIM, Ford, GM, U.S, Big, ACT, Thomson Locations: Wayne , Michigan, UNIVERSITY OF CALIFORNIA, BERKELEY, Detroit

Even after escalating its strike against Detroit automakers on Friday, the United Auto Workers union still has plenty of leverage in its effort to force the companies to agree to significant increases in pay and benefits. The UAW could, if it chose to, vastly expand the number of workers who could strike assembly plants and parts facilities of General Motors, Ford and Stellantis, the owner of the Jeep and Ram brands. All three companies said that talks with the union continued on Saturday, though officials said they expected no major announcements. In expanding the strike on Friday, the UAW struck only the parts-distribution centers of GM and Stellantis. Ford was spared from the latest walkouts because of progress that company has made in negotiations with the union, said UAW President Shawn Fain.

Persons: “, ”, Daniel Ives, Sam Abuelsamid, Abuelsamid, Ford, Shawn Fain, Wheaton, ’, Fain, —, “ It's, AutoNation, Mike Stanton, David Barnas, Jodi Tinson, Alexandra Olson Organizations: Detroit, United Auto Workers, UAW, General Motors, Ford, Jeep, GM, Wedbush Securities, Guidehouse, Fiat Chrysler . Service, Cornell University, National Automobile Dealers Association, Associated Press Locations: Detroit, Flint , Michigan, Sterling Heights , Michigan, Canada, United States, New York

UAW President Shawn Fain, in a Facebook live event, said that by targeting distribution centers the strike becomes a nationwide event. Stellantis has said it wants to be able to consolidate and close some of its parts distribution centers. Nearly 13,000 UAW workers walked out at plants in Missouri, Michigan and Ohio on Sept 15. "GM and Stellantis are looking at stockholder value and Ford is looking a lot more long-term that they have to make friends with labor." Fain said on Friday that the union had negotiated the elimination of lower wage tiers in some components facilities at Ford and GM.

Persons: Fain, Shawn Fain, Joe Biden, Biden, Donald Trump, Thomas Morris, Stellantis, Phaedra Grant, Michael Swensen, Ford, Daniel Ives, Sam Fiorani, Ford's, David Shepardson, Joseph White, Jarrett Renshaw, Ben Klayman, Peter Henderson, Abhirup Roy, Jeff Mason, Nick Zieminski, Matthew Lewis Organizations: GM, Ford, United Auto Workers, Detroit, General Motors, Chrysler, UAW, REUTERS, Ford Bronco, Chevrolet, AutoForecast Solutions, Reuters, Thomson Locations: DETROIT, United, Michigan, California, Massachusetts, Oregon, Florida, Philadelphia, Langhorne , Pennsylvania, Kokomo , Indiana, Kokomo, Louisville , Kentucky, U.S, Missouri , Michigan, Ohio, Chevrolet Colorado, Washington, Detroit, San Francisco

UAW President Shawn Fain, in a Facebook live event, said that by targeting distribution centers the strike becomes a nationwide event. Fain said Ford had improved its contract offer, including boosting profit sharing and agreeing to let workers strike over plant closures but said the union still has "serious issues" with Ford. Nearly 13,000 UAW workers walked out at plants in Missouri, Michigan and Ohio on Sept 15. "GM and Stellantis are looking at stockholder value and Ford is looking a lot more long-term that they have to make friends with labor." Fain said on Friday that the union had negotiated the elimination of lower wage tiers in some components facilities at Ford and GM.

Persons: Phaedra Grant, Michael Swensen, Biden, Fain, Shawn Fain, Ford, Stellantis, Joe Biden, Karine Jean, Pierre, Shawn Fain's, Donald Trump, Daniel Ives, Sam Fiorani, Ford's, Mark Reuss, David Shepardson, Joseph White, Ben Klayman, Peter Henderson, Abhirup Roy, Jeff Mason, Nick Zieminski, Matthew Lewis Organizations: Ford, UAW, REUTERS, GM, United Auto Workers, Detroit, General Motors, Chrysler, Ford Bronco, Chevrolet, AutoForecast Solutions, Reuters, Republican, Detroit automakers, Thomson Locations: Louisville , Kentucky, U.S, DETROIT, United, California, Massachusetts, Oregon, Florida, Kokomo , Indiana, Kokomo, Michigan, Missouri , Michigan, Ohio, Chevrolet Colorado, Washington, Detroit, San Francisco

☆ VIEW UAW expands strikes against GM, Stellantis
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +3 min

The escalation comes as the labor group and the automakers remain apart on terms of a new contract covering 146,000 workers. DANIEL IVES, ANALYST AT WEDBUSH SECURITIES:"This becomes a full on tidal wave of strikes for GM and Stellantis. "This is like union 101 in terms of divide and conquer and put more pressure on GM and Stellantis. "I think GM and Stellantis are going to fight this. But I am less confident Stellantis can work it out because they are by far the worst of the three with labor relations."

Persons: Sheila McGee, Michael Swensen, BRANDON PIZZURRO, DANIEL IVES, Ford, ARTHUR WHEATON, TODD VACHON, Ankika Biswas, Peter Henderson, Bianca Flowers, Anil D'Silva Organizations: Ford, UAW, REUTERS, United Auto Workers, General Motors Co, Ford Motor, GM, Motors, RUTGERS, Thomson Locations: Louisville , Kentucky, U.S, Bengaluru

"Stellantis and GM in particular are going to need some serious pushing," Fain said Friday. Fain said Ford had improved its contract offer, including boosting profit sharing and agreeing to let workers strike over plant closures but said the union still has "serious issues" with Ford. "This is like union 101 in terms of divide and conquer, and put more pressure on GM and Stellantis," Ives added. GM, Ford and Stellantis have said they are making contingency plans for further U.S. work stoppages. Unifor, which represents about 5,600 Canadian auto workers, had been threatening to go on strike at all three Ford plants in the country.

Persons: Phaedra Grant, Michael Swensen, Biden, Fain, Shawn Fain, Stellantis, Joe Biden, Donald Trump, Ford, Daniel Ives, Ives, Karine Jean, Pierre, Mark Reuss, David Shepardson, Joseph White, Ben Klayman, Peter Henderson, Jeff Mason, Matthew Lewis, Nick Zieminski Organizations: Ford, UAW, REUTERS, Ford Union, GM, United Auto Workers, Detroit, General Motors, Chrysler, Ford Motor, Silverado, Ford Bronco, Chevrolet, Reuters, Biden, Republican, White, Detroit automakers, Thomson Locations: Louisville , Kentucky, U.S, DETROIT, United, California, Massachusetts, Oregon, Florida, Kokomo , Indiana, Kokomo, Michigan, Missouri , Michigan, Ohio, Chevrolet Colorado, Washington, Detroit, San Francisco

☆ UAW strike could buy GM time to address nagging EV issues
▼ + stars: | 2023-09-17 | by ( Paul Lienert | ) www.reuters.com time to read: +4 min

The company delivered just 1,348 Lyriqs and 47 Hummers in the second quarter, far below expectations, in part because of issues with battery module assembly. A longer strike could help GM address and potentially resolve some of those ongoing issues in its EV and battery operations, according to Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions. "A production stoppage could allow GM to solve bottlenecks,” Fiorani said. Wedbush auto analyst Daniel Ives said the strike was "a potential nightmare situation" for GM given it comes exactly at a key period of ironing out EV issues. In addition, the UAW strike in the United States could affect the flow of critical auto parts to GM operations in Canada and Mexico, which would hamper EV production there, Rinna said.

Persons: Jennifer Granholm, Jonathan Ernst, GlobalData, Mary Barra, Rory Harvey, Hummer, Sam Fiorani, Fiorani, GM's Barra, Bill Rinna, Daniel Ives, Ives, Rinna, GM’s Ramos, Paul Lienert, Deepa Babington Organizations: U.S . Energy, Washington Auto, REUTERS, Rights, General Motors, Ford Motor, UAW, Ford, Chevrolet Silverado, GMC Sierra, GM, GMC, AutoForecast Solutions, EV, Chevrolet Blazer, Thomson Locations: Washington , U.S, United States, Canada, Mexico, Ingersoll, Detroit

☆ UAW union embraces social media as labor talks toughen ahead of deadline
▼ + stars: | 2023-09-09 | by ( Bianca Flowers | Thomson Reuters | Bianca Flowers Is An Award-Winning Multimedia Journalist Based In Chicago Where She Reports On The Backbone Of The U.S. Labor Market. She Covers Agriculture | ) www.reuters.com time to read: +4 min

United Auto Workers President Shawn Fain greets UAW autoworkers, at the Stellantis Sterling Heights Assembly Plant, to mark the beginning of contract negotiations in Sterling Heights, Michigan, U.S. July 12, 2023. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsSept 9 (Reuters) - The United Auto Workers union is leveraging the power of social media to attract public support in demanding substantial wage increases for hourly workers as a deadline looms with the Detroit Three automakers. On Friday, he said the UAW was prepared to strike all three companies if no deals are reached. "What we've seen is the new president of the UAW taking an offer from the automakers and throwing it in a wastebasket on social media. This week, the UAW released a video in an effort to save a shuttered Stellantis plant in the northern Illinois town of Belvidere.

Persons: Shawn Fain, Rebecca Cook, Shawn Fain hasn't, Daniel Ives, Fain, He's, Harley Shaiken, Brian Rothenberg, Tesla, there's, Matt Frantzen, he's, Bianca Flowers, Leslie Adler Organizations: United Auto Workers, UAW, Sterling Heights Assembly, REUTERS, Detroit Three, Motors, Ford, Facebook, Twitter, University of California, Auto, Thomson Locations: Sterling Heights, Sterling Heights , Michigan, U.S, Berkeley, Illinois, Belvidere, Stellantis, Chicago

☆ Apple lost over $200 billion in market value in two days. Here's where Jim Cramer stands on the stock
▼ + stars: | 2023-09-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Jim Cramer said Thursday he stands by the Club's "own it, don't trade it" designation on Apple, which was on a two-session losing streak that wiped out more than $200 billion in market value in the stock. "If I really felt like a disaster was coming, I would suspend" our mantra of "own it, don't trade it" on Apple stock, Jim Cramer said during the Club's Morning Meeting on Thursday. Apple is also extending efforts into emerging economies such as India, which like China has roughly 1.4 billion people. 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: Jim Cramer, shouldn't, Jim, Gina Raimondo, isn't, Apple, Wamsi Mohan, Daniel Ives, Ives, Jim Cramer's Organizations: Apple, Big Tech, Street Journal, Huawei, U.S . Commerce, Bloomberg, Bank of America, Wedbush Securities, U.S, The, CNBC, S3studio, Getty Locations: China, America, Beijing, Americas, Europe, India, Mong Kok District, Hong Kong

☆ After layoffs, cost cuts and a price increase, Salesforce has exceeded a 30% profit margin — exactly what its activist investors wanted to see
▼ + stars: | 2023-08-30 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +4 min

Salesforce reported a 31.6% profit margin on Wednesday for its Q2 FY '24, raising annual guidance to 30%. Activist investor Starboard Value last year called on Salesforce to up its profit margins. A leaked plan said Salesforce aimed to deliver above a 30% margin by fiscal 2025. That plan outlined a goal to reach above 30% profit margins in fiscal 2025. Starboard noted that Salesforce should have profit margins of at least 30% — exactly what the company delivered Wednesday.

Persons: Salesforce, Marc Benioff, Benioff, It's, it's, Wedbush's Daniel Ives, Ives, Ellen Thomas Organizations: Morning, Oracle, Microsoft, ethomas Locations: Salesforce

☆ Nvidia's blowout results are exciting analysts so much, one of them even said the AI chipmaker will be 'most important company to civilization'
▼ + stars: | 2023-08-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

AI chipmaker Nvidia posted record second-quarter revenues of $13.51 billion. One jubilant analyst made a bold call: He thinks Nvidia will be the "most important company to civilization" in the next decade. Even Daniel Ives, an analyst at Wedbush Securities, gushed in a tweet: "It's all about AI demand and use cases. "AI needs specialized chips to run on, and trillions worth of processing chips will be up for replacement through this decade." Dessai added there are other opportunities for AI chips as they eventually make their way into other products including smartphones, laptops, cars, and medical devices.

Persons: Angelo Zino, Daniel Ives, Dessai Organizations: Nvidia, Service, Yahoo Finance, Wedbush Securities, gushed, Tejas, Global Locations: Wall, Silicon

The Rivian story is "finally" turning around after several difficult quarters, according to Wedbush. The firm maintained its outperform rating on shares while raising its price target to $30 from $25. Ives said the company is "seeing light at the end of the tunnel" after several quarters with overhangs including production and supplier issues. "We continue to strongly believe in the Rivian long-term story … making this a table pounder at current levels," said Ives. Shares are up 17.3% in 2023, but remain in the red by more than 31% over the last 12 months.

Persons: Daniel Ives, Ives, Rivian, — CNBC's Michael Bloom Organizations: Rivian Locations: Europe, U.S

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