DIRS.INFO The most relevant business & tech news

☆ One EV maker is best positioned as the group is hit by China concerns, Mizuho says
▼ + stars: | 2022-10-25 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

Geopolitical risks in China, coupled with concerns over weaker demand, are weighing on stocks of electric vehicle makers. One company, however, stands out from the group and is best positioned to ride out any storm in China, according to Mizuho Securities. Within the group, Rivian has advantages that allow it to remain safe from China concerns, according to a Mizuho research report to clients. "We believe concerns of extended restrictive Covid policies and increasing U.S. technology restrictions could make upside from better fundamental outlooks for China EV OEMs less dependable." Tesla's move could pressure local electric vehicle makers such as XPeng and premium rivals including Nio, according to the note.

☆ Here's how midterm elections could make or break the stock market
▼ + stars: | 2022-10-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

All that, plus there's the fast-approaching midterm elections that hold plenty more implications for investors. Historically, stocks shoot higher after midterm elections. Basically, the market usually reacts to midterms well because they are predictable in the sense that politicians can't make radical legislative changes. Attention stock market investors: The Fed could keep rates elevated for up to a year. Goldman Sachs detailed how to invest in each stock-market sector to best protect your portfolio from inflation and higher interest rates.

☆ China ADRs tumble as Xi's new team sparks worries over economy's path
▼ + stars: | 2022-10-24 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

Chinese President Xi Jinping votes during the closing ceremony of the 20th National Congress of the Communist Party of China, at the Great Hall of the People in Beijing, China October 22, 2022. REUTERS/Tingshu WangOct 24 (Reuters) - U.S.-listed shares of Chinese companies slumped on Monday after President Xi Jinping's new leadership team sparked investor concerns that ideology-driven policies would be prioritized at the cost of private sector growth. The iShares MSCI China ETF (MCHI.O) tanked 10%, tracking its steepest one-day drop ever. "By consolidating power, Xi is likely to face little opposition to this form of nationalization of corporate interests." Xi secured a precedent-breaking third leadership term on Sunday and introduced the new Politburo Standing Committee stacked with loyalists.

☆ Nio, BYD and other Chinese EV stocks fall sharply amid selloff
▼ + stars: | 2022-10-24 | by ( John Rosevear | ) www.cnbc.com time to read: +1 min

Nio began deliveries of its new ET7, an upscale electric sedan, on Monday, March 28, 2022. U.S.-traded shares of Chinese electric vehicle makers were among those hit by a dramatic selloff on Monday, as investors soured on non-state-run Chinese companies following a weekend of dramatic political developments in China. Other prominent Chinese companies including Alibaba and Tencent Music Entertainment suffered similarly dramatic declines. Under Xi's leadership, China's government has increased restrictions on speech and movement and tightened regulations on technology companies. Analysts see further restrictions ahead, with Bernstein's Mark Schilsky writing in a Monday morning note that Chinese stocks are now "uninvestable."

☆ Stock market continues to sizzle this month
▼ + stars: | 2022-10-24 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +2 min

New York CNN Business —October may be famous for historically horrifying stock market crashes like the ones in 1929, 1987 and 2008. Stocks enjoyed another solid rally Monday, continuing a hot streak for the markets this month. The S&P and Nasdaq are each still down more than 20% in 2022, though, which means they are in a bear market. American companies with significant exposure to the Chinese market were also hit hard and sat out the broader market rally. Brands (YUM) was down 2% while Yum China (YUMC), which franchises the KFC, Pizza Hut and Taco Bell brands in China, plunged 14%.

☆ Stocks making the biggest moves in the premarket: Tesla, WeWork, Alibaba and more
▼ + stars: | 2022-10-24 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Alibaba (BABA) – Alibaba tumbled 12.3% in premarket trading after the release of weaker-than-expected China GDP data. China Tech Stocks – China-based tech stocks are under pressure after President Xi secured a third leadership term, leading to speculation of a continued crackdown on the country's tech sector. ServiceNow (NOW) – ServiceNow added 2.5% in premarket trading after Guggenheim upgraded the stock to "buy" from "neutral." Medtronic added 1% in premarket trading. Williams-Sonoma fell 2.5% in premarket action.

☆ China ADRs slump on fears Xi's new team to favor state over growth
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Tingshu WangOct 24 (Reuters) - U.S.-listed shares of China firms slumped in premarket trading after Xi Jinping's newly unveiled leadership team sparked investor fears that ideology-driven policies would be prioritized at the cost of private sector growth. The iShares MSCI China ETF (MCHI.O) skid 8.6%, tracking a sharp fall in Hong Kong shares (.HSI), led by losses in technology and property sector. Register now for FREE unlimited access to Reuters.com RegisterXi secured a precedent-breaking third leadership term on Sunday and introduced the new Politburo Standing Committee stacked with loyalists. read moreMusic streaming co Tencent Music , e-commerce platform Pinduoduo (PDD.O) and mobile game publisher Bilibili shed between 10% and 15%. Register now for FREE unlimited access to Reuters.com RegisterReporting by Medha Singh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ A recession looks increasingly likely. But Goldman Sachs says these stocks could beat the gloom
▼ + stars: | 2022-10-21 | by ( Zavier Ong | ) www.cnbc.com time to read: +5 min

Central banks are relentlessly hiking interest rates to rein in inflation — even at the expense of economic growth — prompting fears of a recession. "Concerns on sticky inflation and a tight labor market have focused investor attention on implications for rising rates and recession risk. Those stocks have high and expanding cash return on capital invested and return on equity, according to the bank. BlackRock says that's now an 'obsolete' strategy Investors keen to add growth names to their portfolio could also look to Goldman's list of high growth stocks. The bank also identified high growth names that are trading at an attractive valuation, including Watches of Switzerland and Standard Chartered .

☆ BYD flags huge quarterly profit jump as China sales surge past Tesla
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +3 min

Shares in BYD jumped. By comparison, Tesla sold just over 318,000 electric vehicles in China during the first nine months of the year. The China Association of Automobile Manufacturers has estimated that EV sales in China will increase by about 56% this year to 5.5 million units - a market far greater than most countries' entire auto sales. EVs are also expected to account for 20% of overall China vehicle sales this year, up from 13.6% in 2021, the industry association said. Some subsidies for electric vehicles are set to expire this year although the government has extended an exemption of the purchase tax for EVs to the end of 2023.

☆ Tesla investors to focus on demand issues in earnings report
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +3 min

Oct 18 (Reuters) - Tesla Inc's (<TSLA.O>) quarterly report on Wednesday will likely show whether the Elon Musk-led electric-vehicle maker is facing any weakness in demand that is starting to weigh on the wider auto industry. Although Musk has said Tesla "does not have a demand problem", the company's latest report on deliveries showed that it made 22,000 more EVs than it delivered to customers in the third quarter. "A top concern right now is demand in China as wait times seem to be shrinking," RBC Capital Markets said. read moreAnalysts say pricing is a key factor that could help Tesla make up for a possible demand drop and boost revenue. "If there is a big sale of Tesla stock by Musk after earnings, that will be a strong sign that the Twitter deal is on the cusp of closing," said Adam Badawi, a law professor at UC Berkeley.

☆ Cramer's lightning round: Stay long on CF Industries
▼ + stars: | 2022-10-18 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

I say, stay long." Loading chart...Dutch Bros Inc : "I want you to put half the position on now, and then half when it goes below $30. I'm going to have to say, once again, [don't buy.]" Loading chart...Cano Health Inc : "I like the healthcare space, I think they do quality healthcare work, and I'm going to have to say that I think it's worth buying." I have to say, [don't buy]."

☆ Tesla investors try to ignore Musk's many distractions
▼ + stars: | 2022-10-16 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

While that’s good news for Twitter’s long-suffering shareholders, Tesla investors hope he still has some time for them. There are big challenges in China as well, with Tesla going up against homegrown EV rivals like Nio (NIO), Xpeng and Li Auto. Too many distractionsGary Black, managing partner at the Future Fund and a Tesla shareholder, has been tweeting for the past few weeks that concerns about Twitter are a headache for Tesla investors. In one tweet, Black said there are several problems for Tesla due to Twitter. The underwhelming deliveries and production numbers also underscore how a slowing global economy (and possible recession) could hurt Tesla.

☆ China auto sales growth slows in Sept as signs of softening demand emerge
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +3 min

China's overall auto sales growth also slowed compared to the previous two months, growing 25.7% in September to 2.61 million vehicles. The market is overall relatively weak," said Cui Dongshu, secretary general of the China Passenger Car Association (CPCA). CPCA, which focuses on retail sales of cars, said earlier on Tuesday that China's passenger car sales in September rose 21.2% from a year earlier to 1.95 million. CAAM, which tracks broader auto sales including passenger vehicles, buses and trucks, has said it hopes the government will extend those incentives next year. In September, China's vehicle exports increased 73.9% from a year ago, CAAM said and EVs accounted for one-sixth of them.

☆ Betting on flexibility, China's Nio will only rent cars in new EU markets
▼ + stars: | 2022-10-07 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

Chinese Nio electric car is seen at Nio's first European plant and power swap station in Biatorbagy, Hungary, September 16, 2022. Prices range from around 50,000-70,000 euros ($49,000-$69,000), depending on the car's range and whether customers buy or rent the battery. Nio will stick to direct sales in existing markets in part due to less attractive taxation on subscription models in Norway and restrictions around licence plates in China, Li said. "The advantage of our business separating the car from the battery is that we may reach economies of scale for the batteries faster than the cars," Li said. "In the long-run we believe any top company in the automotive industry will soon have in-house battery production," Li said.

☆ China's climate push could spawn new global players, even if Beijing falls short on its pledge
▼ + stars: | 2022-10-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

China aims to reach peak carbon emissions in 2030. Two years ago, Chinese President Xi Jinping formally announced the world's second largest economy would strive for peak carbon emissions in 2030, and carbon neutrality in 2060. Emerging leader in offshore wind? The U.K. and the rest of Europe are each expected to add about 10 gigawatts of offshore wind power in the next three years, according to IEEFA Research. Overenthusiastic measures to force local areas to cut carbon emissions last year resulted in a power shortage that disrupted factory production.

☆ Leapmotor’s modest IPO obviates big leap of faith
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/StringerHONG KONG, Sept 27 (Reuters Breakingviews) - Leapmotor is cruising in gloomy markets. The Chinese electric-vehicle maker priced shares of its initial public offering, the largest in Hong Kong this year, at the bottom end of a previously indicated range, per IFR. Chinese consumers are increasingly gravitating towards more affordable local brands too, according to a Bernstein survey released this month. Leapmotor’s sales in the first quarter fell a little short of the pace it needs to hit but its still within reach. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ China's flood of new electric cars cost 20% more to insure than fuel-powered cars
▼ + stars: | 2022-09-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Vcg | Visual China Group | Getty ImagesBEIJING — While Chinese companies churn out new electric cars, local insurance firms think they're more expensive to cover. But repair costs are another reason for higher insurance prices, since "fewer places have the capability to service electric cars in the U.S.," Gardner said. watch nowIn the U.S., Insurify's analysis of the U.S. market found there was no difference in accident rates among electric cars, hybrids and combustion engine cars. But by official Chinese statistics, new energy vehicles in the country are more prone to fires than traditional fuel-powered ones. Electric cars are based on a platform system, and certifying safety can be faster, he said, noting potential use of virtual testing scenarios, or the ability to test individual parts.

☆ Chinese EV maker Li Auto falls after it cuts delivery outlook; Beijing extends tax breaks for electric cars
▼ + stars: | 2022-09-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Li Auto warned that "supply chain constraint" would mean the company will deliver fewer cars than expected in the third quarter. Shares of Li Auto fell in pre-market trade in the U.S. on Monday after the Chinese electric carmaker cut its delivery guidance for the third quarter. Meanwhile, rival electric car companies Nio and Xpeng jumped as Beijing announced an extension of tax breaks for electric car purchases. Shares of Li Auto were around 2% lower in pre-market trade. "The Company will continue to closely collaborate with its supply chain partners to resolve the bottleneck and accelerate production."

☆ China's CATL, a Tesla supplier, considers expanding battery swapping business overseas
▼ + stars: | 2022-09-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

CATL is the world's largest electric vehicle battery maker and supplier to the likes of Tesla and Ford. The world's largest electric vehicle battery maker CATL is evaluating whether to expand its battery swapping business to international markets, a senior executive told CNBC. In January, the Chinese battery manufacturer launched its battery swapping business called EVOGO in China across 10 cities. Instead, drivers can rent battery packs from CATL and put them into the car when their other battery runs out. Li Xiaoning, executive president of overseas commercial application at CATL, told CNBC in an interview on Thursday, that the company is also evaluating expansion of its battery swapping product into Europe.

☆ Xpeng breaks out of a lower price range with its most expensive car to date
▼ + stars: | 2022-09-22 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Qilai Shen | Bloomberg | Getty ImagesBEIJING — Chinese electric car start-up Xpeng has released its most expensive car to date, marking the company's foray into a higher price range. On Wednesday night, Xpeng announced its newest car, the G9 SUV, will be priced from 309,900 yuan ($44,270) to 469,000 yuan. The price range makes Xpeng's latest car generally cheaper than new SUV offerings this fall from Nio and Li Auto. Nio's ES7 sells for 468,000 yuan to 548,000 yuan, while Li Auto's Li 9 lists a price of 459,800 yuan. BYD, the dominant local leader in China's electric car market, sells in an even lower price range.

☆ China's Nio takes on BMW, Mercedes in home market with flexible battery plan
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +4 min

Nio’s battery swap stations also promise to send drivers out with a new, fully-charged battery in just a few minutes, faster than current charging alternatives. In China, Nio set up a company with partners including battery giant CATL to buy the battery packs for leasing and then collect subscription fees from Nio users. Over the past year, Nio has been experimenting with battery leasing and swapping in Norway for its ES8, an electric-drive SUV. The company has sold 800 of the SUVs and installed two swapping stations in Norway, executives said. Nearly all the buyers in Norway and more than half in China have opted for battery leasing, said Shen Fei, Nio's vice-president for power management.

☆ China's Xpeng says CATL is no longer its largest battery supplier
▼ + stars: | 2022-09-21 | by ( Olivier Sorgho | ) www.reuters.com time to read: +2 min

REUTERS/Mike Segar/File PhotoSHANGHAI, Sept 21 (Reuters) - Xpeng (9868.HK) has diversified its battery suppliers and no longer counts industry giant CATL (300750.SZ) as its primary supplier, the Chinese electric car maker's president said on Wednesday. "We have already diversified our battery supplier arrangement. CATL is no longer our largest material supplier. We actually have worked with several high-quality battery suppliers, for example, EVE, CALB," Gu said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Zhang Yan and Brenda Goh; Editing by Lisa ShumakereOur Standards: The Thomson Reuters Trust Principles.

☆ Chinese EV maker Xpeng launches rival to Tesla's semi-autonomous driving system
▼ + stars: | 2022-09-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The Chinese start-up announced Monday that it was piloting a feature known as City NGP, which stands for navigation guided pilot. City NGP is being trialed with some users of the premium version of it P5 sedan in the southern Chinese city of Guangzhou, where the company is headquartered, it said. City NGP was first announced last year, when Xpeng released Xpilot 3.5, the latest version of its advanced driver-assistance system, or ADAS. Charles Zhang, vice president of Xpeng, told CNBC on Monday that the pilot of City NGP brings the company "one step closer to full autonomy." Xpeng said that those trialing City NGP will need to download it via an update.

☆ Tesla weighs reset for China retail strategy even as sales boom
▼ + stars: | 2022-09-20 | by ( ) www.cnbc.com time to read: +4 min

Tesla's China recruitment website showed more than 300 openings for service jobs as of Thursday. Musk said last week on Twitter, in response to a Tesla owner in Texas who complained that he had been waiting a month to get his vehicle fixed, that he had made "advancing Tesla service to make it awesome" a top priority. That has allowed it more leeway to adjust a retail strategy that had been initially modeled on Apple's stores. More than half of Tesla's showrooms in seven of China's biggest cities, including Shenzhen and Chengdu, are now in downtown areas, according to a Reuters count based on Tesla's China website. Nio, like Tesla, has a network of high profile urban stores in China.

☆ Meme-stocks AMC and GameStop round out the top 10 companies held by Robinhood users
▼ + stars: | 2022-09-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

AMC Entertainment and GameStop made the top 10 list of stocks most commonly held by Robinhood users. The zero-commission brokerage unveiled its investor index last week, which tracks a portfolio of the 100 most popular stocks held by Robinhood users. That data is now available after Robinhood unveiled its Robinhood Investor Index, a portfolio meant to track the 100 most popular holdings on its platform. The proportional weighting means a Robinhood user's $1 million portfolio has the same influence as another users $1,000 portfolio. From meme-stocks to electric vehicles, these are the top 10 stocks held by Robinhood's userbase as of September 1.

Search resuls for: "Nio"

25 mentions found