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☆ Tesla shares extend losses on demand worries in China
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +1 min

Dec 27 (Reuters) - Tesla Inc (TSLA.O) shares fell 8% on Tuesday after a Reuters report that Tesla was planning to run a reduced production schedule in January at its Shanghai plant sparked worries of a drop in demand in the world's biggest car market. The world's most valuable automaker's production cuts at the Shanghai plant come amid a rising number of COVID-19 infections in the country. Hayes also added that Tesla's stock was facing a "perfect storm" of high-interest rates, tax loss selling and share sales by some funds that hold a significant amount of Tesla stock. Tax loss selling is when an investor sells an asset at a capital loss to lower or eliminate the capital gain realized by other investments, for income tax purposes. Reporting by Akash Sriram in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Chinese EV maker Nio cuts delivery guidance for fourth quarter, citing Covid disruptions
▼ + stars: | 2022-12-27 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

Chinese electric car company Nio delivered more than 5,000 cars in April despite Covid restrictions in some parts of China, albeit down sharply from nearly 10,000 vehicle deliveries in March. Chinese electric vehicle maker Nio Inc. lowered its fourth quarter outlook for deliveries, citing supply chain disruptions stemming from Covid outbreaks. Nio now projects that it will deliver between 38,500 to 39,500 electric vehicles in the fourth quarter of 2022, down from its initial estimate of 43,000 to 48,000 vehicles, according to a press release on Tuesday. The company cited supply chain disruptions due to Covid outbreaks in major Chinese cities, which slowed down operations in December. Last week, Nio launched two new electric SUV models, the EC7 and the ES8.

☆ Nio's new electric car models probably won't be 'super earth-shattering,' analyst says
▼ + stars: | 2022-12-23 | 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 EmailNio's new electric car models probably won't be 'super earth-shattering,' analyst saysEdison Yu of Deutsche Bank Research discusses Nio's line-up of new electric car models.

☆ China's economy looks different than it was going into the pandemic
▼ + stars: | 2022-12-22 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

China's exports started to fall year-on-year in October — for the first time since May 2020, according to Wind Information. Net exports had supported China's GDP growth over the last several years, contributing as much as 1.7 percentage points in 2021, the analysts said. But China's exports to the Association of Southeast Asian Nations have picked up, surpassing those to the U.S. and EU on a monthly basis in November, according to customs data. They expect ASEAN's GDP growth to rebound in 2023, while the U.S. and EU spend part of next year in recession. Jin pointed out that China's car exports, especially of electric cars and related parts, helped support overall exports this year.

HONG KONG, Dec 21 (Reuters Breakingviews) - Vietnam is an unlikely home of the next Elon Musk. The 48-year-old is at the wheel of VinFast, a money-losing electric-vehicle maker racing the U.S. entrepreneur’s Tesla (TSLA.O) on Western roads. VinFast has made its name selling gas guzzlers in the Southeast Asian nation, where its parent Vingroup (VIC.HM) is the top conglomerate. CONTEXT NEWSVietnamese electric-car maker VinFast is planning a U.S. initial public offering, an initial prospectus published on Dec. 6 shows. Revenue fell to 10.5 trillion dong, down from 11.2 trillion dong.

☆ Here are Thursday's biggest analyst calls: Tesla, Amazon, Nike, Nio, Verizon, Disney, Snap & more
▼ + stars: | 2022-12-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Guggenheim names Nike a top 2023 pick Guggenheim said Nike's brand remains "healthy and strong." Bank of America names Amazon a top 2023 pick Bank of America said Amazon is a "share gainer" that will continue in 2023. " Morgan Stanley upgrades Verizon to overweight from equal weight Morgan Stanley said Verizon shares are "historically" attractive. Morgan Stanley downgrades AT & T to equal weight from overweight Morgan Stanley said it sees a more balanced risk/reward. Morgan Stanley downgrades Lockheed Martin to equal weight from overweight Morgan Stanley said it sees more "limited upside" for shares of the defense company. "

☆ Deutsche Bank says buy Nio, predicts shares can rally more than 70% as delivery volumes speed up
▼ + stars: | 2022-12-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Delivery volumes are gaining speed, and that could be a good thing for shares of Nio , Deutsche Bank said Thursday. Analyst Edison Yu opened a catalyst buy call on the electric vehicle stock, expecting an uptick in monthly sales for December. "Considering cumulative deliveries were 274,000 exiting Nov, this suggests production is ramping up nicely and 4Q guidance is very much achievable (43,000-48,000 units)." At its annual "Nio Day" later this month, the company should also reveal two new vehicle models, which Yu expects consumers to like. Despite a 62% slump this year, Nio shares could rally about 74% from Wednesday's close given the bank's $21 price target suggest.

That compares with a valuation of about $9 billion in its maiden external fundraising last year. In doing so, it joins a growing list of Chinese automakers looking to launch or expand sales of EVs in the region. The automotive group led by founder Li Shufu now houses seven brands manufacturing electric vehicles, of which three are high-end brands. According to two of the sources, Zeekr also considered Hong Kong as its listing venue but picked New York in the hope of achieving a higher valuation. Zeekr was established by Geely, formally known as Zhejiang Geely Holding Group (GEELY.UL), in April 2021 to tap into increasing Chinese demand for premium EVs.

HONG KONG, Dec 12 (Reuters) - Zeekr, Chinese automaker Geely's upmarket electric car brand, has confidentially filed for a U.S. initial public offering, aiming to raise more than $1 billion, three sources with direct knowledge of the matter told Reuters. That compares with a valuation of about $9 billion in its maiden external fundraising last year. In doing so, it joins a growing list of Chinese automakers looking to launch or expand sales of EVs in the region. According to two of the sources, Zeekr also considered Hong Kong as its listing venue but picked New York in the hope of achieving a higher valuation. It said in October it would spin Zeekr off but did not identify a listing venue or the likely value of an offering.

☆ These are the 10 coolest electric cars sold around the world that you can't buy in the US
▼ + stars: | 2022-12-10 | by ( Tim Levin | ) www.businessinsider.com time to read: 1 min

What really sets Nio apart is its battery-swapping tech. Pull into a Nio battery-swapping station and you can be back on the road with a full charge in minutes. Nio battery swapping station. Jin Zheming/VCG via Getty Images

☆ China's Li Auto sees higher deliveries in Q4; third-quarter loss widens
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +1 min

Dec 9 (Reuters) - China's Li Auto Inc on Friday forecast higher delivery of vehicles and a rise in revenue in the fourth quarter, banking on a production ramp-up and better cost management. The electric vehicle maker saw net loss widen to 1.65 billion yuan ($237.55 million) compared with a net loss of 21.5 million yuan a year ago for the third quarter ended Sept.30. Most auto makers have been hit by rising material costs and a global chip shortage, but Li Auto said that it was expecting higher deliveries and production scale up as global supply chain issues ease. Vehicle sales for the company jumped 22.5% from a year ago to 9.05 billion yuan in the reported quarter, while margins dropped to 12% from 21.1%. It dispatched 26,524 cars in the September quarter, with October and November deliveries already at more than 25,000 units.

☆ Nio to install 20 battery-swapping stations in EnBW charging parks
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Dec 8 (Reuters) - Chinese electric vehicle maker Nio will install swapping stations, where drivers can switch their car battery for a fully-charged one, at 20 charging parks in Germany owned by utility EnBW (EBKG.DE), the utility provider said on Thursday. Nio launched in Germany in October on a leasing model, with users leasing cars with a 75 gigawatt hour battery for 1,199-1,295 euros ($1,171-$1,264) a month depending on the length of the subscription, which can be as short as a month. The carmaker, which is aiming for 120 swapping stations in Europe by the end of 2023, opened its first swapping station in Germany in late September in Zusmarshausen in collaboration with charging operator Sortimo and mobility technology company TSG. EnBW, which is investing over 100 million euros ($105.26 million) a year in expanding electric vehicle charging infrastructure, plans to expand its partnership with Nio to install more swapping stations in future, the provider's statement said. ($1 = 0.9500 euros)Reporting by Victoria Waldersee, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ Chinese stocks rally on reopening hopes; Morgan Stanley upgrades to overweight
▼ + stars: | 2022-12-05 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

The Hang Seng TECH Index, which represents the 30 largest technology companies listed in Hong Kong, surged 8% in Asia's trade. Electronic vehicle-maker Xpeng gained 24%, leading gains for the broader index, Li Auto jumped 12% and Nio climbed more than 15%. The Hang Seng index rose 4% while China's CSI 300 index, which tracks the largest largest mainland-listed stocks, rose almost 2%. Hong Kong-listed casino operators also saw significant gains, with MGM China rising 19%, Wynn Macau climbing 16% and Sands China adding 13%. Morgan Stanley upgrades to overweight

☆ Alibaba, JD, and other Chinese stocks jump as easing of some virus restrictions fuels hopes China will back down from zero-COVID policy
▼ + stars: | 2022-11-29 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Alibaba and shares of other Chinese stocks listed in the US rose Tuesday on speculation China may relax its zero-COVID policy. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. E-commerce heavyweight Alibaba gained 5% on New York Stock Exchange and rival JD.com picked up 7.5% on the Nasdaq. Hong Kong's Hang Seng Index gained 5.2% and the mainland's Shanghai Composite gained 2.3%. "Either way, it appears zero-COVID has reached a crossroads and the direction of travel now will determine investor appetite toward Chinese stocks going into 2023.

☆ Chinese Tesla rival Nio and giant Tencent partner to work on self-driving tech
▼ + stars: | 2022-11-29 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Nio is trying to stand out from a wave of Chinese electric vehicle competitors through its technology. The company is hoping its partnership with Tencent can help it boost its tech prowess in areas from mapping to autonomous driving. Chinese electric vehicle maker Nio and tech giant Tencent agreed to work together on areas including autonomous driving and high-definition mapping. The partnership could allow Tencent to do this, while also giving Nio the technology backing of one of China's biggest firms. It comes after e-commerce firm Alibaba and Nio rival Xpeng in August opened a computing center to train software for driverless cars.

Rare protests in major Chinese cities over the weekend against the country's strict zero-COVID curbs have hit growth expectations in the world's second-largest economy. U.S.-listed shares of Chinese companies such as Bilibili Inc , Alibaba Group Holding Ltd , JD.com Inc , Baidu Inc and Nio Inc , however, eked out gains, rising between 1% and 2.2%. Declining issues outnumbered advancers for a 2.47-to-1 ratio on the NYSE and for a 1.95-to-1 ratio on the Nasdaq. The S&P index recorded 11 new 52-week highs and two new lows, while the Nasdaq recorded 74 new highs and 102 new lows. Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Wall St set to open lower on China's anti-lockdown protests; Apple slips
▼ + stars: | 2022-11-28 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

As China's strict zero-COVID policy aimed at stamping out COVID-19 with lockdowns and quarantines has become a lightning rod for frustrations, protests erupted over the weekend as a show of solidarity with rare displays of defiance. Although there were no signs of new protests in Beijing or Shanghai on Monday, the curbs so far have led to concerns over China's economic growth and its trickle-down effect on global companies. ET, Dow e-minis were down 216 points, or 0.63%, S&P 500 e-minis were down 33.75 points, or 0.84%, and Nasdaq 100 e-minis were down 99 points, or 0.84%. On Friday, the Nasdaq closed lower, weighed down by Apple in a subdued holiday-shortened trading session for Wall Street. Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru; Editing by Savio D'Souza and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Wall St futures slip on China COVID woes; Apple falls
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +2 min

As China's strict policy aimed at stamping out COVID-19 with lockdowns and quarantines has become a lightning rod for frustrations, protests erupted over the weekend as a show of solidarity with rare displays of defiance in China. ET, Dow e-minis were down 184 points, or 0.54%, S&P 500 e-minis were down 31.75 points, or 0.79%, and Nasdaq 100 e-minis were down 105.25 points, or 0.89%. However, street protests against zero-COVID policy in China underline a harsher reality that is undermining market sentiment, at least for now," said Rabobank analysts in a note. On Friday, the Nasdaq closed lower, weighed down by Apple in a subdued holiday-shortened trading session for Wall Street, as investors watched Black Friday sales and COVID-19 cases in China. Reporting by Ankika Biswas in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Some elements of the Jeep joint venture's failure are particular to Stellantis - and the former car groups that feature among its 14 brands. But data compiled for Reuters by consultancy LMC Automotive expose a problem shared by a number of other global carmakers: plummeting Chinese plant usage. Reuters GraphicsThe Jeep failure in China happened less than two years after Stellantis was formed by the merger of PSA and Fiat Chrysler. "Chinese companies actually have an early mover advantage because they embraced electrification faster than the foreign companies were willing to," he added. While fully-electric cars make up an average of 5% of models foreign carmakers sell in China, they account for 30% of Chinese carmakers' models, according to LMC data.

☆ Cramer's lightning round: Enphase Energy is a buy
▼ + stars: | 2022-11-28 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Rio Tinto PLC : "You need to see commodity inflation come back. I will say, it's a great hedge against long-term inflation, though." Loading chart...Enphase Energy : "It is doing so well, and every time it's down $15, $20, I want to come on air and just say, 'you know what you've got to do? ... We are not recommending stocks that are losing money." Loading chart...Dycom Industries : "I think that Dycom's okay."

☆ Hedge funds bought the dip in Chinese stocks — here are their favorite ADRs
▼ + stars: | 2022-11-27 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Hedge funds bought the dip in Chinese stocks last quarter after many technology names sold off amid political uncertainty, according to Goldman Sachs. U.S. hedge fund ownership of Chinese ADRs increased modestly during the third quarter after declining for four straight quarters, according to Goldman. At the start of the fourth quarter, 20% of equity hedge funds had a long position in at least one Chinese stock, the firm said. Alibaba remained the most popular China ADR among U.S. hedge funds, and it's the only Chinese stock to be included in Goldman's Hedge Fund VIP list . Brad Gerstner's hedge fund Altimeter Capital bought $69 million worth of Pinduoduo last quarter, according to a filing.

☆ Here are Monday's biggest analyst calls: Amazon, Nio, Disney, Carvana, Coinbase, Costco & more
▼ + stars: | 2022-11-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

JPMorgan reiterates Amazon as top idea JPMorgan said the e-commerce giant is well positioned heading into the holiday season. " Morgan Stanley initiates Las Vegas Sands as overweight and names DraftKings as a top pick Morgan Stanley said in its initiation of Las Vegas Sands that it sees an attractive risk/reward. Morgan Stanley downgrades MongoDB to equal weight from overweight Morgan Stanley said in its downgrade of the database platform company that it's concerned about slowing growth for MongoDB. JPMorgan reiterates Charles Schwab as overweight JPMorgan said Charles Schwab is well positioned as one of the biggest "distributors of third-party mutual funds." Morgan Stanley upgrades Restaurant Brands to equal weight from underweight Morgan Stanley said it likes that the owner of brands such as Burger King appointed the former Domino's CEO as executive chairman.

☆ Here are Thursday's biggest analyst calls: Apple, Robinhood, Netflix, Target, TJX, McDonald's & more
▼ + stars: | 2022-11-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Credit Suisse reiterates Apple as outperform Credit Suisse said its survey checks show iPhone Pro and Pro Max delivery delays. Deutsche Bank downgrades Target to hold from buy Deutsche downgraded Target after its earnings report on Wednesday and said it has "lower confidence." Piper Sandler upgrades Target to overweight from neutral Piper said Target is still "compelling" despite its latest quarterly report. " Bank of America reiterates Nvidia as buy Bank of America called Nvidia's third-quarter earnings results on Wednesday an "inflection" quarter. Bank of America reiterates Cisco as buy Bank of America said it's standing by Cisco after its earnings report on Wednesday.

☆ EV start-up Nio says it's not really affected by the U.S. chip ban
▼ + stars: | 2022-11-16 | 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 EmailEV start-up Nio says it's not really affected by the U.S. chip banSteven Feng of Nio discusses its fourth quarter targets and the U.S. Inflation Reduction Act, among other things.

☆ Alibaba's Singles Day enters healthier phase
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Nov 14 (Reuters Breakingviews) - There were no fireworks from Alibaba’s (9988.HK) Singles Day this year, and that's just fine. The biggest omission this year is Alibaba's final sales tally, or gross merchandise value. Singles Day was created in 2009 to win over online shoppers with discounts and promotions; these days, brands use it to clear inventory and experiment with new products. It has become far less important to Alibaba’s bottom line. Alibaba could use more boring Singles Days.

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