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☆ Elon Musk ordered to attend $1 million voter lottery suit hearing in Philadelphia court
▼ + stars: | 2024-10-30 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

The attorney asked the judge for an order that "requires attendance of all of the parties, i.e., DA Krasner, a representative of America PAC and Mr. "All parties must be present at the time of the hearing," the judge said in the order Wednesday. Krasner's lawsuit accuses Musk and America PAC of operating an illegal lottery and trying to influence voters in the presidential election between Vice President Kamala Harris and former President Donald Trump. Musk and America PAC are backing Trump, the Republican nominee. Musk and attorneys for him and his PAC did not immediately respond to a request for comment from CNBC.

Persons: Elon Musk, Donald Trump, Larry Krasner, Musk, Krasner, DA Krasner, Kamala Harris, Trump, CNBC's Lora Kolodny Organizations: Republican, Philadelphia District, America PAC, Musk, CNBC Locations: Butler , Pennsylvania, Philadelphia, Pennsylvania

☆ Y Combinator cofounder Paul Graham lays out why he's voting for Kamala Harris
▼ + stars: | 2024-10-30 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Paul Graham urged moderate voters to vote for Kamala Harris, citing character over policy. Graham, a Y Combinator cofounder, contrasted Harris with former president Donald Trump. AdvertisementVeteran investor Paul Graham wrote an open letter saying undecided moderate voters should cast their ballot for Kamala Harris. On Tuesday, the Y Combinator cofounder and self-proclaimed moderate posted a statement on X where he laid out his reasons. Graham cofounded famed startup accelerator Y Combinator in 2005, which has been an incubator for companies like Dropbox, Airbnb, and Reddit.

Persons: Paul Graham, Kamala Harris, Graham, Harris, Donald Trump, Elon Musk, Mark Zuckerberg, —, Jeff Bezos, Bezos hasn't, Trump . Graham, Melinda French Gates, Mark Cuban, pic.twitter.com, ebBMbs1c7r — Paul Graham, Trump, Harris didn't Organizations: Leaders, Elon, Service, Washington, Amazon, Tesla, Trump ., Democratic, Business

☆ I drove a $95,000 electric BMW. It has epic performance but trails Tesla and Lucid in range.
▼ + stars: | 2024-10-30 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +1 min

The rear of a 2024 BMW I5 M60 xDrive EV sports sedan. Benjamin Zhang/Business InsiderMy BMW I5 M60 xDrive came with a 257-horsepower electronic motor mounted at the front axle and a larger 335-horsepower electric motor at the back. The BMW 5-Series is known for its poise in the corners and power down the straight. According to BMW, the I5 M60 xDrive can sprint from 0 to 60 in just 3.7 seconds, but Motor Trend was able to do it in 3.4 seconds. With perfect 50/50 front-rear weight distribution, the I5 felt balanced and precise around the corners.

Persons: Benjamin Zhang Organizations: BMW, EV Locations: North Georgia

☆ Betting on the election is the hottest new trend. But can prediction markets keep the momentum going?
▼ + stars: | 2024-10-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The big storyPresidential betsChris duMond; Chip Somodevilla/Getty Images; Jenny Chang-Rodriguez/BIWe're less than a week from election day, but one group can already claim victory: betting markets. Kalshi's legal victory in October over the CFTC to offer election betting paved the way for the trend. iStock; Rebecca Zisser/BIThe betting market's biggest tests might come after the election. Betting markets have Trump as a heavy favorite, whereas traditional polls indicate a tight race. AdvertisementShould Trump win in a landslide, it could strengthen the case for using betting markets as a key tool for election analysis.

Persons: —, Chris duMond, Chip Somodevilla, Jenny Chang, Rodriguez, Matthew Fox, Donald Trump, Polymarket, iStock, Rebecca Zisser, Nate Silver, Tesla, Zuckerberg, Citadel's, Justin Lubell, Lubell, Steve Schwarzman, Ken Griffin, Trump, Tyler Le, Harris, Sundar Pichai, Elon Musk, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, Apple, CFTC, Trump, TikTok, Meta Connect, Meta, Bank of America, Blackstone, Republican, Amazon, AWS, Five Apple Intelligence, Google, The Washington Post, Street, Microsoft, Starbucks Locations: French, New York, London

☆ Chinese EV maker BYD’s revenue beats Tesla for first time
▼ + stars: | 2024-10-30 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Beijing (Reuters) — Chinese electric vehicle maker BYD posted an 11.5% rise in third-quarter net profit on Wednesday as it maintained strong sales momentum helped by government trade-in incentives. Net profit rose to 11.6 billion yuan ($1.63 billion) in the July-September quarter, the company said in a stock exchange filing. For the first nine months, net profit was up 18.1% to 25.2 billion yuan. With third-quarter revenue up 24% on year to 201.1 billion yuan ($28.24 billion), BYD’s quarterly revenue for the first time outpaced Tesla, whose revenue for the July-September quarter reached $25.2 billion. Tesla still beat BYD in terms of EV sales globally during July to September.

Persons: BYD, Tesla, Morgan Stanley Organizations: Reuters, Local, BYD Locations: Beijing, China

☆ China's Xiaomi delivers 20,000 EVs in October, just months after launching its first car
▼ + stars: | 2024-10-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Chinese smartphone company Xiaomi on Tuesday announced a sports car version of its SU7 electric sedan would begin preorders for the equivalent of more than $110,000. BEIJING — China's Xiaomi said Tuesday that it had delivered more than 20,000 SU7 EVs in October as it ramps up production for its electric car venture in a fiercely competitive market. While Xpeng delivered a monthly record of more than 20,000 cars in September, with about half the sales owed to its newly launched, lower-cost brand Mona, Nio has struggled to keep monthly deliveries above 20,000 cars. Zeekr , an electric car brand founded by automaker Geely, has claimed it produced more than 100,000 vehicles in 1.5 years. Data on other Chinese electric car companies' deliveries for October is expected Friday.

Persons: China's Xiaomi, Xiaomi, Tesla, Xpeng, Nio Organizations: BEIJING, EVs, Geely Locations: China

☆ Evercore ISI names stocks that could win under either Trump or Harris win
▼ + stars: | 2024-10-30 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

The outcome of this year's presidential election could bode well for different parts of the stock market, according to Evercore ISI. "Trump will be positive for US-only retailers (which have higher tax rates vs retailers with int'l exposure)," Evercore ISI said. Under a Harris win, these stocks could benefit, per Evercore ISI: Evercore ISI forecasts Harris winners to be renewable energy and EV companies, as that administration is expected to maintain the Inflation Reduction Act and other clean energy policies. Discount retailers such as Burlington and Ross Stores are another likely beneficiary of a Democratic win, according to Evercore ISI. A slew of tech companies, namely Apple , Dell and Hewlett Packard Enterprise , could fare well with a Harris win given the risk of lower tariffs.

Persons: bode, Kamala Harris, Donald Trump, Emanuel, Halliburton, Trump, ULTA, Dave Kimbell, Tesla, Elon Musk's, Harris, BURL, LSEG, Ross, Biden Organizations: ISI, Democratic, Republican, NBC, Trump, Halliburton, Exxon Mobil, Exxon, Care, NextEra, Harris . Discount, Ross Stores, Burlington, Apple, Dell, Hewlett Packard Enterprise, Palo Alto Networks Locations: U.S, China, Burlington

☆ Why Tesla's sales are slipping in California, and what it means for Elon Musk's car company
▼ + stars: | 2024-10-30 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

Tesla's falling California sales point to bigger problems for the car company. AdvertisementTesla is losing some ground in its home state of California, signaling more trouble ahead for the world's largest electric car company. As electric car sales rose 2% in California, Tesla's sales in the state fell 3.5%, according to third-quarter figures from the California New Car Dealers Association. The losses don't upset Tesla's market dominance: the Elon Musk-led company still accounted for more than half of all EV sales in California for the quarter. "Tesla's sales are actually doing great," he said during a recent X space.

Persons: —, Tesla, That's, Elon, Elon Musk, Donald Trump, Jason Bateman, Bateman, Tim Walz, Sean Hayes, Will Arnett, it's, MAGA Organizations: Service, Car Dealers, EV, Hyundai, BMW, Republican, Trump, Cox Automotive Locations: California

☆ China 'does not agree or accept' the EU's EV tariffs, says negotiations are still ongoing
▼ + stars: | 2024-10-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

The EU and China have reportedly agreed to start talks on the planned imposition of tariffs on Chinese-made EVs. China's commerce ministry said it "does not accept" tariffs imposed by the European Union on Chinese electric vehicles, after the bloc increased tariffs on Chinese EVs to as high as 45.3% on Wednesday. The commerce ministry said "China will continue to take all necessary measures to resolutely safeguard the legitimate rights and interests of Chinese companies." China's commerce ministry also highlighted the EU has indicated it will continue to negotiate with China, adding that both sides are conducting a new round of consultations. On Oct. 25, Reuters reported the two sides were looking at possible minimum price commitments from Chinese producers or investments in Europe as an alternative to tariffs.

Persons: Xpeng Organizations: European Union, SAIC Motor, EU, World Trade Organization, Reuters Locations: Taicang Port, Suzhou, China's, Jiangsu Province, EU, China, Europe

☆ Elon Musk, Trump allies say his tariff plans could cause short-term pain for consumers
▼ + stars: | 2024-10-29 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Tesla and SpaceX CEO Elon Musk speaks at a rally for former US President and Republican presidential candidate Donald Trump at Madison Square Garden in New York, October 27, 2024. Former President Donald Trump's top allies and surrogates, like Tesla CEO Elon Musk appear to accept that the Republican presidential nominee's policy plans could trigger a short-term economic thunderstorm. But they contend it will be worth the sunnier long-term outlook. "Correct: If I raise the tariff on just this particular idiosyncratic product, yes, right, it will be more expensive," Lutnick said in a Thursday interview on CNBC's "Squawk Box," responding to a question about whether universal tariffs would effectively become a short-term sales tax. Trump's running mate, Ohio Sen. JD Vance, has also nodded to the potential consumer pain of Trump's vision for across-the-board tariffs, though he hedged that it would be worth the possible benefits.

Persons: Tesla, Elon Musk, Donald Trump, Donald Trump's, Musk, Trump, Cantor Fitzgerald, Howard Lutnick, Vance, Lutnick, Trump's, Ohio Sen, JD Vance Organizations: SpaceX, Republican, Madison, Tesla, Trump, Press Locations: New York, U.S

☆ Harris vs. Trump: Auto insiders weigh in on both candidates, top issues
▼ + stars: | 2024-10-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Electric vehicles, trade, tariffs, China, emissions regulations and labor are among the top issues automakers are monitoring, according to industry executives and policy experts. Harris vs. TrumpOfficials expect a Harris victory to be a continuation, but not a copy, of the past four years under Biden. Republican presidential nominee and former U.S. President Donald Trump speaks as he visits a campaign office in Hamtramck, Michigan, U.S. October 18, 2024. Republicans, led by Trump, have largely condemned EVs, saying that they are being forced upon consumers and that they will ruin the U.S. automotive industry. LaborOf the many issues regarding the automotive industry, officials who spoke to CNBC were nearly unanimous regarding labor: They're concerned a Harris win would continue to mean increased power for organized labor.

Persons: Bill Pugliano, Kamala Harris, Donald Trump, Joe Biden, Harris, Jefferies, Philippe Houchois, Biden, Shawn Fain, Drew Angerer, Brian Snyder, —, Elon Musk's, Trump, Pablo Di Si, EVs, Harris hasn't, Peter Rawlinson, Rawlinson, That's, Trump's, USMCA, Mary Barra, hasn't, Fain Organizations: Ford, Ford Dearborn Plant, Getty, DETROIT, Motor, Great, Trump, CNBC, Trump Officials, United Auto Workers, Democratic, International Union of Painters, AFP, Republican, Reuters, Motors, Ford Motor, Chrysler, EV, Lucid, Tesla, California Air Resources, D.C, District of Columbia, Alliance for Automotive Innovation, U.S . Officials, IRA Electric, Volkswagen Group of America, Automotive, Republicans, Environmental Protection Agency, . North, North American Free Trade, Jefferies, Labor, Democratic National Convention, UAW Locations: Dearborn , Michigan, Michigan, Motor City, Great Lakes State, China, Macomb , Michigan, California, Hamtramck , Michigan, U.S, Detroit, Washington , Oregon, New York, Washington, . North American, United States, Mexico, Canada, American

☆ Ford cuts profit forecast as high costs and low volumes hit hard
▼ + stars: | 2024-10-29 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

The guidance stems from high costs and low volumes of Ford Pro and Ford Blue models. Ford aims to compete with Chinese EV makers by reducing costs and innovating designs. It said the guidance was hurt by costs and low volumes of its most profitable cars, Ford Pro and Ford Blue, due to supplier and hurricane-related disruptions. He said that finding new designs for components or using new suppliers will be key to reducing EV costs. Chinese EV makers have been on a roll this year.

Persons: Ford, —, Jim Farley, Farley, I've, Stellantis, Tesla Organizations: Ford Pro, Ford, Service, Companies, EV, European Union, Motors, Chrysler Locations: Russia, Shanghai, Chicago, China

☆ Waymo will lead autonomous driving, not Tesla: Harvest's Paul Meeks
▼ + stars: | 2024-10-29 | 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 EmailWaymo will lead autonomous driving, not Tesla: Harvest's Paul MeeksPaul Meeks, Harvest Portfolio Management CIO, joins 'Squawk Box' to preview Alphabet quarterly earnings results after the bell today, what to expect from the tech giant, his thoughts on Tesla, and more.

Persons: Harvest's Paul Meeks Paul Meeks, Tesla

☆ EU slaps tariffs on Chinese EVs, risking Beijing payback
▼ + stars: | 2024-10-29 | by ( ) www.cnbc.com time to read: +4 min

A senior EU official said the extra tariffs had been formally approved on Tuesday. It says China's spare production capacity of three million EVs per year is twice the size of the EU market. Beijing has called the EU tariffs protectionist and damaging to EU-China relations and automotive supply chains, and has launched its own probes this year into imports of EU brandy, dairy and pork products in apparent retaliation. The Commission estimates Chinese brands' share of the EU market has risen to 8% from below 1% in 2019 and could reach 15% in 2025. German carmakers have heavily criticized the EU measures, aware that possible higher Chinese import duties on large-engine gasoline vehicles would hit them hardest.

Persons: Viktor Orban Organizations: European Union, European Commission, China's SAIC, EU, World Trade Organization, Volkswagen, France's PFA, China's, China Passenger Car Association Locations: Huaian, Jiangsu Province, China, Europe, Beijing, United States, Canada, EU, Germany, Hungarian

☆ Here are Tuesday's biggest analyst calls of the day: Apple, Netflix, Tesla, Meta, Uber, Amazon, Walmart, First Solar & more
▼ + stars: | 2024-10-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Tuesday: Evercore ISI reiterates Amazon as overweight Evercore says it's sticking with the stock ahead of earnings later this week. Evercore ISI reiterates Uber as overweight Evercore says it's bullish on Uber heading into earnings on Thursday. Janney upgrades First Solar to buy from neutral Janney says the solar company is attractive ahead of earnings on Tuesday afternoon. " Evercore ISI reiterates Meta as overweight Evercore says it's sticking with Meta ahead of earnings on Wednesday. Barclays reiterates Tesla as equal weight Barclays raised its price target on the stock to $235 per share from $220.

Persons: Evercore, Uber, it's bullish, Janney, Goldman Sachs, Ford, Goldman, Wells, Tesla, Morgan Stanley, Bernstein, TD Cowen, Cowen, it's, Mizuho, Stephens, ROA, Guggenheim, HOOD, we've Organizations: Ford, CTV, APP, Citi, Apple, Apple Intelligence, Barclays, Walmart, Mizuho, Netflix, Guggenheim, Six Flags Entertainment Locations: Mexican, Brazil, Mexico, China, U.S

Philadelphia District Attorney Larry Krasner is suing Elon Musk and his super PAC to block their million-dollar giveaway to registered voters, seeking to halt the lottery-style stunt that election experts, and the Justice Department, have warned might violate federal law. It’s illegal under federal law to pay someone to vote, but Musk insists he isn’t paying people to register. Musk and America PAC have said that their monetary giveaways are to encourage petition signatures. Still, his contest is only open to those in key battleground state and favors Pennsylvania voters by awarding them all $100 each. An attorney representing America PAC did not respond immediately to a request for comment on the suit.

Persons: Larry Krasner, Elon Musk, Krasner, —, Musk, Donald Trump, It’s, ” Organizations: Philadelphia, PAC, Justice Department, “ America PAC, Commonwealth, Pennsylvania, Musk’s America PAC, America PAC, SpaceX Locations: Philadelphia, Pennsylvania, United States

As Election Day approaches, former President Donald Trump has increasingly been warning that if he loses, it will be because of cheating. That’s all they want to do is cheat,” Trump said of Democrats during a rally this month in Juneau, Wisconsin. “They’re actually using it to cheat,” Trump said on the Los Angeles radio station KFI AM 640 on Oct. 8. “They have early voting, late voting, everything is so ridiculous,” Trump said onstage in Palm Beach, Florida, in July. And that’s what we’re striving for.”But Trump has also spoken favorably of early voting, usually in more choreographed settings.

Persons: Donald Trump, “ They’re, ” Trump, “, We’re, Michael Whatley, they’re, Trump, we’re, we’ll, “ We’re, ” Harris, ”, I’d, it’s, Sid Rosenberg, Marc Elias, Joe Biden —, Jesus, Phil McGraw, Trump’s, Sen, JD Vance, Elon Musk, ” Musk, Vance, ” Vance, Michael, Whatley, Hurricane Helene, Harris Organizations: Republican National, Democratic, NBC, Trump, NBC News, United States Capitol, Milwaukee Journal Sentinel, Los, KFI, “, RNC, Biden, Republican Locations: Juneau , Wisconsin, Greenville , North Carolina, Prairie du Chien , Wisconsin, ”, Los Angeles, California, Ohio, Butler , Pennsylvania, Swannanoa , North Carolina, Palm Beach , Florida, Florida, North Carolina

☆ Tesla doesn't need a low-end vehicle to continue to grow, says Oppenheimer's Colin Rusch
▼ + stars: | 2024-10-28 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla doesn't need a low-end vehicle to continue to grow, says Oppenheimer's Colin RuschColin Rusch, Oppenheimer senior research analyst, joins 'Squawk Box' to discuss Tesla's quarterly results and post earnings surge, what's next for the EV maker, Tesla's autonomous driving ambitions, competition from China, and more.

Persons: Colin Rusch Colin Rusch, Oppenheimer Locations: China

☆ Elon Musk denies Washington Post report that he worked illegally in the US
▼ + stars: | 2024-10-28 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +9 min

The J-1 visa is for exchange visitors and can be used for foreign students to pursue academic training or research. Why Musk’s student status mattersMusk didn’t detail what institution sponsored his J-1 visa, or which years he had the visa. Working illegally isn’t a crime, Kuck says, but having done so would require certain steps to be taken to return to a legal immigration status. And in a 2020 podcast interview, Elon Musk said he had a “student work visa” at the time. Some of the hijackers involved in the attacks were in the U.S. on student visas, according to the official 9/11 Commission Report.

Persons: Elon, Musk, Musk hasn’t, Biden, he’d, ” Musk, he’s, “, hasn’t, authorizations, Greg Siskind, who’s, Siskind, ” Siskind, Elon Musk, Charles Mostoller, Charles Kuck, Kuck, who’d, there’s, ” Kuck, Kimbal Musk, It’s, Maye, ”, Kimbal, Hunter Swanson, Swanson, ” Swanson, ” He’s Organizations: CNN, Washington Post, University of Pennsylvania, Penn, Stanford, Engineering, Elon, SpaceX, Tesla, AP, Reuters, Twitter, Center for International Education, Washington, Lee University Locations: South Africa, Philadelphia, Atlanta, “, Palo Alto , California, Virginia, U.S

☆ Elon Musk says at a New York Trump rally that he could save the country $2 trillion through a department of efficiency
▼ + stars: | 2024-10-28 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +2 min

Elon Musk on Sunday briefly spoke at a campaign rally for Donald Trump in New York. In his speech, Musk said he'd save the US $2 trillion through a department of government efficiency. Musk and Trump have both suggested that Musk could be a member of Trump's cabinet if he's reelected. "I think we can do at least $2 trillion," Musk replied, receiving cheers from the crowd. Musk and representatives for the Trump campaign did not immediately respond to a request for comment from Business Insider.

Persons: Elon Musk, Donald Trump, Musk, he's, —, Elon, Tesla, he'd, Howard Lutnick, Cantor Fitzgerald, Lutnick, Harris, Trump Organizations: Trump, Service, SpaceX, Biden, Department of Government Efficiency, Business Locations: New York, United States, United States of America, Trump's

☆ $260 is the resistance level for Tesla stock: Strategist
▼ + stars: | 2024-10-28 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email$260 is the resistance level for Tesla stock: StrategistMichele Schneider of Marketgauge.com shares her outlook for Tesla.

Persons: Michele Schneider, Marketgauge.com, Tesla

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Tesla, Spotify Walmart, Nio, Broadcom Roblox & more
▼ + stars: | 2024-10-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Morgan Stanley initiates FrontView REIT as overweight Morgan Stanley said the commercial real estate investment trust company is well positioned. " Morgan Stanley downgrades Global Foundries to equal weight from overweight Morgan Stanley said it sees rising competition for the semis company. " Morgan Stanley upgrades Nutanix to overweight from equal weight Morgan Stanley said the cloud computing software company is well positioned. " Morgan Stanley downgrades Ciena to equal weight from overweight Morgan Stanley said it sees a more balanced risk/reward for the networking and systems software company. Wedbush adds Roblox to the best ideas list The firm said it sees robust revenue growth ahead.

Persons: Cantor Fitzgerald, Morgan Stanley, FrontView, Baird, AAON, Canaccord, Tesla, Jefferies, NTNX, Wells, Raymond James downgrades, Wolfe, DOV, Morgan Stanley downgrades Ciena, Piper Sandler, Bowlero, Piper, Goldman Sachs, Goldman, it's bullish, Marcellus, Bernstein, SARO, Stifel downgrades, Oppenheimer, Monness Crespi Hardt, Coinbase, Stifel, it's Organizations: Nvidia, Broadcom, MU, JPMorgan, Apple, Dell, Cisco, Spotify, Honeywell, Walmart, " Bank of America, Antero Resources, Bank of America, Macquarie, China EV, Stifel downgrades Colgate, Palmolive, Colgate, Commerce, ~$ Locations: AVGO, 1H25, Dover, Appalachia, Utica, West Virginia

☆ Philadelphia DA sues Elon Musk PAC to stop $1 million lottery for voters
▼ + stars: | 2024-10-28 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Tesla CEO and X owner Elon Musk gestures on stage during a rally for Republican presidential nominee and former U.S. President Donald Trump at Madison Square Garden, in New York, U.S., October 27, 2024. The Philadelphia District Attorney's Office filed a lawsuit seeking to stop a political action committee controlled by billionaire Elon Musk from awarding $1 million to registered voters in swing states. "The Philadelphia District Attorney is charged with protecting the public from public nuisances and unfair trade practices, including illegal lotteries," Krasner said in a statement Monday. "The DA is also charged with protecting the public from interference with the integrity of elections," Krasner said. Musk is backing Republican nominee Donald Trump in the presidential election against Democratic nominee Kamala Harris.

Persons: Elon, Donald Trump, Elon Musk, Larry Krasner, Musk's, Krasner, Kamala Harris Organizations: Republican, Madison, Philadelphia, Attorney's, U.S . Department of Justice, Musk's America PAC, Philadelphia District, Democratic Locations: New York, U.S

☆ Stocks making the biggest moves premarket: Exxon, Spotify, Boeing, McDonald's, TSMC and more
▼ + stars: | 2024-10-28 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Spotify — The music platform rose more than 2% after Wells Fargo named Spotify a top stock pick . Analyst Steven Cahall is particularly bullish on the company's rising margins, strong product mix and evolving record label relationships. Boeing — Shares of the planemaker slipped roughly 2% after Boeing launched a stock offering that could raise roughly $19 billion. McDonald's shares dropped more than 7.5% last week, marking its worst weekly performance since 2020. ON Semiconductor — Shares gained more than 3% after the semiconductor product maker posted adjusted earnings per share of 99 cents and revenue of $1.76 billion for the third quarter.

Persons: Wells, Steven Cahall, Kamala Harris, Donald Trump, FactSet, Canaccord Genuity, Nio, CrowdStrike, Sarah Min, Alex Harring, Lisa Kailai Han, Sean Conlon, Michelle Fox Organizations: Spotify, Boeing —, Boeing, Occidental Petroleum, Exxon, BP —, Citi, Exxon Mobil, BP, Taiwan Semiconductor Manufacturing, Huawei, Reuters, The, Delta Air Lines Locations: U.S, China, The U.S, Macquarie

☆ Elon Musk took the stage at a Trump rally to talk about taxes and the 'Department of Government Efficiency'
▼ + stars: | 2024-10-28 | by ( Katherine Tangalakis-Lippert | Cheryl Teh | ) www.businessinsider.com time to read: +5 min

Elon Musk briefly spoke at a campaign rally for Donald Trump in New York on Sunday. Musk said he'd save the US $2 trillion through a department of government efficiency. AdvertisementAt a campaign rally for former President Donald Trump in New York on Sunday, Elon Musk said he'd save the United States $2 trillion through a department of government efficiency. "I think we can do at least $2 trillion," Musk replied. Musk and representatives for the Trump campaign did not immediately respond to a request for comment.

Persons: Elon Musk, Donald Trump, Musk, —, Howard Lutnick, Cantor Fitzgerald, Lutnick, Tesla, Harris, Trump, he'd, Musk's, Kamala Harris Organizations: Service, Sunday, SpaceX, Biden, Department of Government Efficiency, Trump, Social Security, Small, Budget, Street, Trump Musk, America PAC, The New York Times, Siena College Locations: New York, United States, Pennsylvania, Trump's

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