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☆ Stocks making the biggest moves premarket: Oracle, AT&T, Best Buy and more
▼ + stars: | 2023-08-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Best Buy — Best Buy rose about 1.3% after topping Wall Street's fiscal second-quarter expectations on the top and bottom lines. Heico reported revenue of $723 million for the previous quarter, ahead of the $702 million expected by analysts polled by Refinitiv. Nio — Nio's stock lost more than 6% before the bell after the Chinese electric vehicle company reported a wider-than-expected quarterly loss. The company reported $2.21 in adjusted earnings per share, while analysts were looking for $2.02 per share, according to FactSet's StreetAccount. BYD — The Chinese automaker's U.S.-traded shares rose more than 2% Tuesday premarket, a day after it announced a 204.68% jump in net profit for the first half of 2023.

Persons: Safra Catz, PDD, Heico, FactSet's, BYD, CNBC's Hakyung Kim, Tanaya Macheel, Jesse Pound Organizations: Oracle Corporation, New York Stock Exchange, UBS, Oracle, Verizon —, Verizon, Citi, Refinitiv . Revenue, FactSet . Revenue, PDD Holdings —, Refinitiv, Toyota Motor —, Toyota Motor Locations: U.S, Japan

☆ Here are Monday's biggest analyst calls: Tesla, Netflix, Disney, Amazon, Alphabet, Nike, Costco & more
▼ + stars: | 2023-08-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

UBS reiterates Netflix as buy UBS said it's standing by its buy rating on shares of the streaming giant. Morgan Stanley reiterates Ambarella as overweight Morgan Stanley said it's bullish on shares of the semiconductor company heading into earnings this week. " UBS reiterates Disney as buy UBS said it's standing by its buy rating on shares of the entertainment giant. Morgan Stanley downgrades CrowdStrike to equal weight from overweight Morgan Stanley said it's cautious heading into earnings later this week. Morgan Stanley names LifeStance Health Group a top pick Morgan Stanley said shares of the behavioral health company are compelling.

Persons: Tesla, Canaccord, it's bullish, it's, Morgan Stanley, Ambarella, JMP, Piper Sandler, Piper, Bernstein, L3Harris, Evercore, Jefferies, Morgan Stanley downgrades CrowdStrike, Zimmer, BTIG, Wells, Dwight, Truist, Wolfe, Stifel, defensives Organizations: UBS, Netflix, Disney, Pagaya Technologies, MCW, OW, JetBlue, " Bank of America, Bank of America, Akero Therapeutics, RBC, Tetra Tech, Tech, Amazon, LifeStance Health, Mobility, UGI Corporation, TAM, Nike, NIKE, Endeavor Group, Media, Entertainment, Costco, AutoZone, Walmart Locations: China, Underperform, ORLY

☆ China's BYD H1 profit triples as deliveries break record
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +3 min

Net earnings for the six-months ending June 30 reached 10.95 billion yuan ($1.50 billion), up 204.7% from 3.6 billion yuan a year earlier, on a 72.7% rise in revenue to 260.12 billion yuan, BYD said in a stock market filing. The company posted a 6.82 billion yuan net profit for the April-June quarter, up 144.7%, a Reuters calculation showed. The Q2 earnings, the second highest quarterly number, was within BYD's net profit forecast of between 6.37 billion yuan and 7.57 billion yuan. Buoyed by its Dynasty and Ocean series of plug-in petrol-electric hybrids cars and battery-only electric vehicles (EV), BYD set a monthly sales record in July after deliveries hit 700,244 vehicles in the second quarter. Tesla recorded a decline in quarterly automotive gross margin in the second quarter, prioritising sales over earnings.

Persons: Aly, BYD, Warren Buffett's Berkshire Hathaway, Tesla, Qiaoyi Li, Zhang Yan, Brenda Goh, Christopher Cushing, Mike Harrison Organizations: Security, Auto, REUTERS, Rights, Volkswagen, Inc, U.S, EV, Tesla, BYD, China Association of Automobile Manufacturers, Reuters, Thomson Locations: Auto Shanghai, Shanghai, China, Rights BEIJING, Shenzhen, Singapore, Australia

☆ Tesla engineering executive Colin Campbell joins Redwood Materials as technology chief
▼ + stars: | 2023-08-22 | by ( Lora Kolodny | ) www.cnbc.com time to read: +2 min

Redwood Materials, the battery-recycling startup founded by Tesla board member JB Straubel, recently nabbed Tesla's vice president of powertrain engineering, Colin Campbell, to serve as chief technology officer. Based in Carson City, Nevada, Redwood was founded by Straubel in 2017 while he was still serving as Tesla's CTO. Straubel resigned from Tesla in 2019 to focus on Redwood. Another executive at Redwood, operating chief Kevin Kassekert, previously served as vice president of people and places at Tesla. More than 120 people currently work at Straubel's company after previously working for Tesla, according to LinkedIn data.

Persons: JB Straubel, Colin Campbell, Straubel, Campbell, Tesla, Zach Kirkhorn, Vaibhav Taneja, Redwood, Kevin Kassekert Organizations: Materials, Tesla, LinkedIn, Elon, CNBC, Redwood Locations: Carson City , Nevada, Redwood

☆ Tesla shares gain as Baird Equity adds stock to 'best ideas' list
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsAug 21 (Reuters) - Electric-vehicle maker Tesla's (TSLA.O) shares rose 4.5% on Monday, snapping a six-session losing streak, after brokerage Baird Equity Research added the stock to its "best ideas" list. Bearish investors will point to lower production, said Baird, but added Tesla was still on pace to achieve its production forecast of 1.8 million vehicles this year. Tesla sparked a price war earlier this year and last week slashed prices of three models in China. Reporting by Akash Sriram and Jaspreet Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Baird, Tesla, Rivian, Akash Sriram, Jaspreet Singh, Krishna Chandra Organizations: REUTERS, Equity Research, stoke, Apple, Ford Motor, Thomson Locations: Bern, Switzerland, China, Bengaluru

☆ The bad news for automakers in China is only getting worse
▼ + stars: | 2023-08-19 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Now Chinese automakers' next move is to capitalize on exports, a recent Morgan Stanley note said. But some of that car-buying demand in China starting to wane, according to an August 17 note from Morgan Stanley. "We're still growing our market share in China," Tesla SVP of automotive Tom Zhu said at the firm's Investor Day in March. But while early cuts might have sparked demand, Morgan Stanley analysts called "Tesla's further promotional activity of particular concern." Chinese companies are forging ahead elsewhere while domestic demand easesThird, this just means that the Chinese companies will continue their push across the globe.

Persons: Tesla, Morgan Stanley, NEVs, Ford, Jim Farley, BEV, John Lawler, Tom Zhu Organizations: EV, Morning, Tesla, Ford, GM, Automobility, Deutsche Bank, KPMG — Locations: China, Europe

☆ Warren Buffett missed a trick by not investing in Tesla at a rock-bottom valuation, Elon Musk says
▼ + stars: | 2023-08-18 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett could have invested in Tesla when it was worth almost nothing, Elon Musk said. Buffett passed on Tesla at a $200 million valuation in 2008, Musk previously said. Tesla is now worth about $700 billion, but that's down from a peak valuation of $1.2 trillion. Elon Musk often mentions Warren Buffett on Tesla earnings calls. As for Buffett, he's questioned why Musk tweets himself into trouble, and once challenged the tech billionaire to disrupt the candy business.

Persons: Warren Buffett, Elon Musk, Buffett, Musk, Tesla, could've, Charlie Munger, Munger, He's, he's Organizations: Tesla, Service, SpaceX, Berkshire Hathaway, Ford, General Motors, BYD, Getty Locations: Tesla, Wall, Silicon, Berkshire, Munger

☆ Limited-edition 2025 Mustang GTD: 800+ horsepower and a $300,000 sticker
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +2 min

[1/5] The new 2025 Ford Mustang GTD, a $300,000 limited-edition performance car, is shown in this undated company handout photo released to Reuters on August 17, 2023. Ford Motor Company/Handout via REUTERS Acquire Licensing RightsAug 17 (Reuters) - Ford Motor (F.N) is joining rival General Motors in the U.S. supercar ranks with the launch of the 2025 Mustang GTD, a limited-edition, high-performance hot rod priced from $300,000. The Mustang GTD is loosely based on the 2024 Mustang coupe that is priced from around $31,000. But the Mustang GTD really has more in common with the new Mustang GT3 racecar that is expected to compete next year at the 24 Hours of Le Mans, one of the world's premier endurance races. A spokesperson would say only that GTD production will be "more than 50 cars."

Persons: Jim Farley, Aston Martin, James Bond, Farley, Ford's, Paul Lienert, Rosalba O'Brien Organizations: Reuters, Ford Motor Company, REUTERS Acquire, Ford, General Motors, U.S, Porsche, Benz, Aston Martin, British, Cadillac, Thomson Locations: Ontario, Warren , Michigan, Detroit

☆ Fisker to add Tesla's EV charging connector by 2025
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +1 min

The logo of Fisker Automotive is pictured on a car at the 2022 Paris Auto Show in Paris, France, October 18, 2022. REUTERS/Stephane MaheAug 15 (Reuters) - Electric vehicle startup Fisker (FSR.N) said on Tuesday it signed a deal with Tesla (TSLA.O) to adopt its North American Charging Standard (NACS), giving Fisker customers access to the automaker's Supercharger network by 2025. A plethora of automakers, including Ford Motor (F.N) and General Motors (GM.N), are moving away from the standard Combined Charging System (CCS) connector to Tesla's previously proprietary charging design, which is set to dominate the industry. Fisker said its vehicles made 2025 onwards will have the NACS port for charging, while other customers can use an adapter to access Tesla's 12,000-strong network of public fast chargers in the U.S. and Canada. Tesla's recent deals represent major strides in displacing a rival standard, CCS, that earlier exclusively had the backing of President Joe Biden's administration.

Persons: Stephane Mahe, Fisker, Joe Biden's, Akash Sriram, Shweta Agarwal Organizations: Fisker, REUTERS, Tesla, Ford, General Motors, CCS, Thomson Locations: Paris, France, U.S, Canada, United States, Bengaluru

☆ Tesla launches new and cheaper Model S and X cars in US
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +1 min

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File PhotoCompanies Tesla Inc FollowAug 14 (Reuters) - Tesla (TSLA.O) introduced new standard range Model S and Model X cars in the United States, priced cheaper than the other versions of the S and X models, the automaker's website showed on Monday. The new S and X models were priced at $78,490 and $88,490, respectively, the website showed. The company delivered 19,225 Model X and S vehicles in the second quarter compared to 16,162 vehicles it delivered last year. Reporting by Mrinmay Dey in Bengaluru; Editing by Rashmi Aich and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Tesla, Mrinmay Dey, Rashmi Aich Organizations: REUTERS, Thomson Locations: Bern, Switzerland, United States, China, U.S, Bengaluru

☆ Jim Cramer worries about a UAW union strike at Ford. Here's how we're playing the stock
▼ + stars: | 2023-08-15 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

Jim Cramer is cautious about Ford (F) due to the heightened risk of a United Auto Workers strike, which has been a recent overhang on the Club stock. The company is already seeing 50% gross margins on those software services, CEO Jim Farley said during a call with reporters following the announcement. Ford's EV transition The new software services push is just one more way Ford is embracing new technology. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Ford CEO Jim Farley poses for a photo at the launch of the all-new electric Ford F-150 Lightning pickup truck at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan.

Persons: Jim Cramer, Jim, Shawn Fain, Fain, Joe Biden, Ford, Peter Stern, Stern, Jim Farley, Farley, Morgan Stanley, Tesla, Jim Cramer's, Bill Pugliano Organizations: Ford, United Auto Workers, Club, UAW, Detroit automakers, Deutsche Bank, Apple, Ford Integrated Services, Ford Pro, EV, Barclays, General Motors, ICE, CNBC, Ford Rouge Electric Vehicle Center, Getty Locations: Dearborn , Michigan

☆ Tesla cuts prices in China for select Model Y versions
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

Companies Tesla Inc FollowBEIJING, Aug 14 (Reuters) - Tesla (TSLA.O) on Monday said it has cut prices in China for its Model Y long-range and performance versions starting on Aug. 14, sending its shares lower on concern of further pressure on its profit margins. The electric-car company reduced the starting prices of both models by 14,000 yuan ($1,934.58). The Model Y Long Range's starting price drops 4.5% to 299,900 yuan and the starting price of the Model Y Performance is now 349,900 yuan, down 3.8%. Visitors wearing face masks check a China-made Tesla Model Y sport utility vehicle (SUV) at the electric vehicle maker's showroom in Beijing, China January 5, 2021. Last month, Tesla CEO Elon Musk said further price cuts were a possibility, even if it squeezed the automaker's margins.

Persons: Tesla, Chris McNally, Tingshu Wang, Elon Musk, Liz Lee, Samrhitha Arunasalam, Akash Sriram, Christian Schmollinger, Tom Hogue, Sharon Singleton Organizations: Tesla Inc, BEIJING, REUTERS, Deutsche Bank, Tesla's, China Passenger Car Association, Shanghai, Thomson Locations: China, U.S, Europe, Beijing, United States, Tesla's China, Bengaluru

☆ Tesla cuts prices in China for some Model Y versions
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File PhotoCompanies Tesla Inc FollowBEIJING, Aug 14 (Reuters) - Tesla Inc (TSLA.O) has cut prices in China for its Model Y long-range and performance versions starting on Aug. 14, the company said in a notice on Monday. The car company dropped the starting prices of both models by 14,000 yuan ($1,934.58). The Model Y Long Range's starting price drops 4.5% to 299,900 yuan and the starting price of the Model Y Performance is now 349,900 yuan, down 3.8%. Last month Tesla CEO Elon Musk said further price cuts were a possibility, even if it squeezed the automaker's margins.

Persons: Arnd, Tesla, Elon Musk, Liz Lee, Christian Schmollinger, Tom Hogue Organizations: REUTERS, Inc, BEIJING, Tesla Inc, Tesla's, China Passenger Car Association, Shanghai, Thomson Locations: Bern, Switzerland, China, United States, Tesla's China

☆ GM still struggling to build EVs, sees margin growth ahead for Cruise-CFO
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File PhotoAug 9 (Reuters) - General Motors (GM.N) is still struggling to ramp up production of electric vehicles, a top executive said on Wednesday. Jacobson said GM had built more than 1,000 Lyriqs in July -- still well below the company's initial expectations. In the first six months this year, GM delivered fewer than 2,400 Lyriqs to customers, as it struggled with batteries and other issues. Reporting by Paul Lienert in Detroit, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Rebecca Cook, Morgan, Paul Jacobson, Mary Barra, Jacobson, Paul Lienert, Deepa Babington Organizations: General Motors, REUTERS, GM, Cadillac, Thomson Locations: Detroit , Michigan, U.S, Hill , Tennessee, Detroit

☆ Tesla's 'Master of Coin' bids the EV-maker farewell after racking up a $590 million fortune
▼ + stars: | 2023-08-09 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

A Tesla exec's departure will see him leave with a $590 million fortune, according to Bloomberg. Despite owning less than 1% of Tesla's common stock, Kirkhorn has still gone home with deep pockets, according to the company's latest proxy filing. In 2022 alone, Kirkhorn earned about $16.3 million in stock awards, while being awarded almost $1.3 million in options. The company's stock has surged more than 100% year-to-date, boosting its market cap to roughly $800 billion, per Markets Insider data. Vaibhav Taneja, Tesla's chief accounting officer will step in Kirkhorn's role following his exit.

Persons: Zachary Kirkhorn, Elon Musk's carmaker, Kirkhorn, Tesla, Musk, Kirkhorn's, Vaibhav Organizations: Bloomberg, Tesla, Service, Elon Musk's, GM, Ford Locations: Wall, Silicon, Elon

☆ Electric Cadillac Escalade to test GM's EV strategy, cash machine
▼ + stars: | 2023-08-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

The Escalade IQ is the first – and most important – traditional Cadillac model to be released as an EV. The automaker plans to initially sell the new electric Escalade IQ alongside the current traditional models. A close-up of the illuminated front end of the electric Cadillac Escalade IQ, including a black crystal shield badge. CadillacA teaser video released by GM of the Escalade IQ appears to have more design elements similar to the automaker's Cadillac Lyriq and Cadillac Celestiq than the traditional Escalade. The first-generation Cadillac Escalade was produced from 1998 through 2000 by General Motors.

Persons: Escalade, Mary Barra, It's, Tyson Jominy, John Roth, Roth, Edmunds, Michael Simcoe, Steve Fecht, Rory Harvey, Wayne Cherry Organizations: Motors, GM, General Motors, Cadillac, CNBC, U.S, Auto, Benz, Ferrari, Lamborghini, Cadillac's, GM Tech Center, General Motors GM, GM North America, GMC Hummer, Chevrolet Silverado, Cruise, Arlington Assembly, Chevrolet, GMC, ICE Locations: New York City, Cadillac's U.S, U.S, Warren , Michigan, Detroit, Texas, Simcoe

Tesla 's chief financial officer, Zach Kirkhorn, stepped down from his position effective Friday, the automaker announced Monday morning in a regulatory filing. Tesla's chief accounting officer Vaibhav Taneja was appointed as the new CFO and will hold both roles concurrently. Kirkhorn will stay on with Tesla through the end of the year to assist in the transition, according to a Securities and Exchange Commission filing. Kirkhorn had served as CFO since March 2019 and had worked for Tesla since 2010. Kirkhorn's departure marks the second CFO replacement at Tesla in just over four years.

Persons: Tesla, Zach Kirkhorn, Vaibhav Taneja, Kirkhorn, Deepak Ahuja, Vaibhav, Taneja Organizations: Tesla, Securities and Exchange Commission, LinkedIn, SolarCity

☆ SiriusXM tops quarterly revenue estimates on strong radio demand from auto tie-ups
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Aug 1 (Reuters) - SiriusXM (SIRI.O) topped market estimates for quarterly revenue on Tuesday as the radio company's tie-ups with automakers helped draw users to its audio product services while on the road. The company also partnered with Volvo (VOLCARb.ST) in the quarter to continue to be the standard across the automaker's vehicle lineup. The audio entertainment company reported second-quarter revenue of $2.25 billion, beating estimates of $2.24 billion, according to Refinitiv data. After reporting better-than-expected free cash flow of $323 million in the quarter, the company also raised its expectation for the full year. It now expects annual free cash flow to be around $1.5 billion, compared with $1.1 billion it had previously expected.

Persons: SiriusXM, Samrhitha, Shweta Agarwal Organizations: Volvo, Spotify, YouTube, Thomson Locations: Bengaluru

For the week, the Nasdaq climbed 2.02%, while the S&P rose 1.01%, and the Dow gained 0.66%. The gains gave the S&P 500 its highest close since April 4, 2022. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. Advancing issues outnumbered declining ones on the NYSE by a 2.64-to-1 ratio; on Nasdaq, a 2.81-to-1 ratio favored advancers. The S&P 500 posted 27 new 52-week highs and two new lows; the Nasdaq Composite recorded 83 new highs and 84 new lows.

Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Brendan McDermid, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Big Tech, Federal Reserve, Horizon Investments, Dow Jones, Barclays, New York Stock Exchange, REUTERS, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, U.S, New York City, New York, Bengaluru

U.S. annual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s, data showed on Friday. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. On the earnings front, Intel's (INTC.O) results and forecast pointed to an improving PC market, sending the chipmaker's shares up. The yield on the U.S. 10-year note slipped from 4% hit in the previous session, lifting megacap growth and technology stocks sharply higher. Reata Pharmaceuticals (RETA.O) surged after Biogen (BIIB.O) agreed to buy the rare disease drugmaker for nearly $6.5 billion.

Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Horizon Investments, Federal Reserve, Nasdaq, Dow Jones, Barclays, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, Thomson Locations: China, U.S, New York, Bengaluru

U.S. annual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s. Most of the 11 major S&P 500 sectors posted gains, led by communications services (.SPLRCL), which gained 2.01% as big tech companies kept an upward trend after announcing earnings earlier this week. More than half of the firms listed on the S&P 500 have reported second quarter earnings as of Friday, out of which 78.7% have surpassed analyst expectations, according to Refinitiv data. Advancing issues outnumbered declining ones on the NYSE by a 2.31-to-1 ratio; on Nasdaq, a 2.62-to-1 ratio favored advancers. The S&P 500 posted 26 new 52-week highs and two new lows; the Nasdaq Composite recorded 73 new highs and 69 new lows.

Persons: Win Murray, Diamond Hill, Peers, Dow, Jim Farley, Bansari Mayur Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Federal Reserve, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Big Tech, Dow Jones, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, Bengaluru

☆ A marathon, not a sprint: Mercedes-Benz CEO outlines challenges in shift to EVs
▼ + stars: | 2023-07-28 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +2 min

The shift to zero-emission mobility should be viewed as a marathon not a sprint, according to the CEO of Germany's Mercedes-Benz. His comments came as the Mercedes-Benz Group reported earnings for the second quarter this week. "We have a whole host of our, so to speak, first generation electric vehicles on the market now," Kallenius told CNBC Thursday. "So we are bullish on electric vehicles and zero emission driving and we're putting billions into it," he added. "In this case, our production network is flexible to produce both high-tech electrified combustion engines and electric vehicles," he added.

Persons: Germany's Mercedes, Ola Kallenius, CNBC's Annette Weisbach, Kallenius, Mercedes, Benz's EVs Organizations: Benz, Benz Group, CNBC

☆ Equities rise on fresh signs the Fed is 'winning battle against inflation'
▼ + stars: | 2023-07-28 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Watch Ford Ford Motor (F) stock fell more than 4% Friday, to around $13 a share, after reporting second-quarter results Thursday evening. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome, Powell, Jeff Marks, Ford, Marks, Procter, Gamble, Stanley Black, Decker, Jim Cramer's, Jim Organizations: CNBC, Ford, Federal Reserve, Nasdaq, Treasury, Ford Ford, Gamble, Wall, Procter, Apple, Caterpillar, Emerson Electric

☆ Elon Musk's politics haven't earned him any brownie points with customers — but they're still fiercely loyal to Tesla
▼ + stars: | 2023-07-27 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Tesla owners are growing weary of Musk's antics and think he's damaging the brand. Despite the Twitter debacle and Musk's polarizing way of doing things, they love the Model 3. Elon Musk's politics haven't earned him any brownie points with his customers — but Tesla buyers are mostly still loyal to his cars, especially the Model 3. Bloomberg just reconducted a survey of 7,000 verified Tesla owners in 2019 about the automaker itself, the Tesla EV ownership experience, and opinions of Musk. Some Tesla owners voiced concerns about the CEO that echoed what others told Insider, including: "Dude is a clown," "Obviously he's both brilliant and a very loose cannon," "Brilliant industrialist.

Persons: they'll, Elon, haven't, Musk, Elon Musk, Tesla, Tesla's FSD Organizations: Bloomberg, Morning, Drivers Locations: Tesla

☆ Volkswagen CFO says the automaker is sat on strong net liquidity
▼ + stars: | 2023-07-27 | 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 EmailVolkswagen CFO says the automaker is sat on strong net liquidityArno Antlitz, CFO of Volkswagen Group, discusses the automaker's results and says it will focus on improved net cash flow in the second half.

Persons: Arno Antlitz Organizations: Volkswagen Group

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