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☆ Goldman Sachs says this self-driving car software stock could fall 35%
▼ + stars: | 2023-03-22 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Luminar Technologies shares are too expensive at current valuations and could fall 35%, Goldman Sachs said. Luminar shares outperformed this year as investors moved back into riskier assets. However, the analyst says Luminar shares now have downside after that run-up. Delaney's $5 price target means shares could fall 35% from Tuesday's close. Luminar shares were down more than 8% in Wednesday premarket trading.

☆ Here are Wednesday's biggest analyst calls: Meta, Charles Schwab, Apple, Spotify, Tesla & more
▼ + stars: | 2023-03-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Barclays reiterates Charles Schwab as equal weight Barclays said Street estimates are too high for Charles Schwab. Guggenheim upgrades Spotify to buy from neutral Guggenheim said Spotify shares present an attractive investment opportunity. Barclays upgrades Nike to overweight from equal weight Barclays upgraded the apparel giant after its strong earnings report on Tuesday. " Barclays reiterates Nvidia as overweight Barclays said Nvidia is still the "king" of AI after the company's GTC conference event Tuesday. Goldman Sachs reiterates Tesla as buy Goldman said Tesla is a key beneficiary of the Inflation Reduction Act.

☆ Stocks making the biggest moves midday: Nvidia, First Republic, Nike, GameStop and more
▼ + stars: | 2023-03-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Wall Street analysts lauded the company's artificial intelligence leadership following its developer conference Tuesday. First Republic Bank — Shares of the regional bank were down nearly 16% on Wednesday. Its results can't be compared with Wall Street estimates because too few analysts cover the company. Petco Health and Wellness — Shares fell 17.5% after the company reported earnings. The Wall Street firm believes the self-driving car software stock is too expensive and could fall 35% from Tuesday's close.

☆ Mercedes-Benz cars to have 'supercomputers', unveils Google partnership
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +3 min

But the car companies also want to keep control over their customer relationships as well as valuable data generated by their cars. Mercedes-Benz is moving from a patchwork approach of integrating software from a range of suppliers to controlling the core of its software. Under the Google partnership, Google Maps will be Mercedes-branded and provide drivers with Google traffic information and automatic rerouting, as well as the ability to watch YouTube on the cars' entertainment system when the car is parked, or in Level 3 autonomous driving mode. Google and Mercedes-Benz also agreed to explore further collaboration with Google Cloud data and artificial intelligence capabilities. Others carmakers like General Motors, Renault (RENA.PA), Nissan (7201.T) and Ford (F.N) have embedded an entire package of Google services into their vehicles, offering features like Google Maps, Google Assistant and other applications.

☆ Lidar maker Luminar announces 'multibillion dollar' expansion of its deal with Mercedes-Benz
▼ + stars: | 2023-02-22 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

Lidar maker Luminar said Wednesday that Mercedes-Benz will incorporate its sensors and software in a "broad range" of vehicles starting mid-decade, in a significant expansion of an ongoing partnership between the two companies. Under the expanded deal, Mercedes-Benz will incorporate the next version of Luminar's Iris lidar into an upcoming partially automated driving system that will be made available on many future Mercedes models. The deal builds on one announced by the two companies in January 2022, in which Mercedes-Benz said it would incorporate Luminar lidar in upcoming high-end models. Luminar didn't disclose the expected production volumes, but the company did describe it as a "multibillion dollar" expansion of the earlier deal, and a Luminar spokesperson told CNBC that this new deal is "more than an order of magnitude bigger" than last year's deal with Mercedes-Benz. Luminar will unveil the next-generation version of its Iris lidar system when it reports its fourth-quarter and full-year results on Tuesday.

☆ Luminar, Mercedes-Benz expand deal for self-driving tech
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 22 (Reuters) - Self-driving sensor maker Luminar Technologies Inc (LAZR.O) announced an expanded partnership with Mercedes-Benz Group (MBGn.DE) on Wednesday to enable fully automated driving for its next-generation vehicles. Automakers from Tesla Inc (TSLA.O) to General Motors (GM.N) are focusing on autonomous vehicles, but technological and regulatory hurdles remain. Tech firms such as Alphabet Inc's (GOOGL.O) Waymo and Aptiv-Hyundai Motor joint venture, Motional, are also looking to develop autonomous vehicles for commercial use. Luminar and Mercedes-Benz had announced a partnership in January last year. Palo Alto, California-based Luminar also said it plans to build a factory in Asia to support the multi-billion dollar deal.

☆ Goldman's surging 'Most Short' portfolio reveals what's driving market rally — here's what's in it
▼ + stars: | 2023-01-26 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Signs have emerged that short covering has been at work during the latest stock market rally, raising questions about the sustainability of the leg up. Meanwhile, Goldman Sachs' so-called "Most Short" basket, consisting of 50 U.S. stocks with the biggest short interest, has gained more than 20% in 2023. "The equity market rally since the lows in October has for the major part been driven by short covering," Barclays strategists said in a note Wednesday. On Monday when the Nasdaq jumped 2%, technology stocks saw the largest one-day notional amount of short covering since June, according to Goldman's prime brokerage data. Goldman said the short covering activity was led by semiconductor stocks, tech hardware and IT services stocks.

☆ Stocks making the biggest moves premarket: Silvergate Capital, Walgreens, Amazon and more
▼ + stars: | 2023-01-05 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

People walk by a Walgreens, owned by the Walgreens Boots Alliance, Inc., in New York City, November 26, 2021. Check out the companies making headlines and moves in premarket trading. Walgreens Boots Alliance — The drugstore stock fell about 2% in premarket even after the company reported fiscal first quarter earnings that beat analyst estimates. Western Digital — Shares jumped more than 5% after Western Digital and Japan's Kioxia Holdings resumed merger talks, according to a Bloomberg News report that cited sources familiar with the matter. American Express — The stock fell 1.48% in the premarket after being downgraded by Stephens on Thursday to underweight from equal weight.

☆ Zenseact becomes fully owned subsidiary of Volvo Cars
▼ + stars: | 2022-12-31 | by ( ) www.reuters.com time to read: +1 min

Dec 31 (Reuters) - Sweden-based Volvo Car AB said on Saturday it had taken 100% ownership of its autonomous driving (AD) software development subsidiary Zenseact. Volvo Cars acquired 13.5% of shares in Zenseact from ECARX, which made the AD software company a fully owned subsidiary of the Swedish automaker. Zenseact will continue to remain and operate as a standalone company, Volvo Cars said. Despite Volvo Cars taking ECARX's shares in the software company, the ongoing collaboration discussions between Zenseact and ECARX will continue as planned, Volvo Cars said. Zenseact received a strategic investment in 2021 from ECARX where it asked for 15% shareholding in the software company.

The carmaker is calling the seven-seat SUV its new flagship vehicle, starting at under $80,000. The company said production of the car is expected to begin in the U.S. next year, with production in China to follow. The car also marks the introduction of Luminar Technologies' lidar system as standard equipment in a commercially built vehicle. Many in the automotive industry believe lidar is the next-generation of safety technology and a step closer to more highly-automated or autonomous vehicles. All EX90s will come standard with a lidar sensor and related software from Florida-based Luminar.

☆ Luminar says it has begun production of its automotive lidar units ahead of schedule
▼ + stars: | 2022-11-02 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

Automotive sensor company Luminar said it has begun production of its Iris lidar units for an automaker client, a major milestone that it had previously expected to reach around year-end. Luminar's lidar units are part of an advanced driver-assist system on the Rising Auto R7, a new electric SUV from the largest Chinese automaker, SAIC Motor. Luminar previously announced deals to supply other automakers including Volvo Cars and Polestar, but it hadn't previously revealed plans to begin production of the Iris units earlier than 2023. The lidar units are being made in a factory in Mexico owned by Canadian electronics manufacturer Celestica. Celestica and Luminar are together building a new dedicated factory, also in Mexico, that will be able to manufacture 250,000 Iris units per year.

☆ Elon Musk's rival Austin Russell said Teslas will not become self-driving anytime soon
▼ + stars: | 2022-11-01 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Russell's company makes LiDAR tech, but Elon Musk has continually spoken out against the radars in the past. Russell founded Tesla self-driving rival Luminar Technologies in 2012 when he was a 17-year-old. Instead of LiDAR, Tesla relies on a suite of external cameras and other sensors for its autonomous-driving efforts. In an interview with Time, Russell said he believes Tesla will not be able to fully achieve self-driving technology until it embraces LiDAR technology. "We effectively have more major commercial wins than any other LiDAR company, and probably any other autonomous vehicle industry company," Russell said.

☆ Self-driving cars were supposed to take over the road. What happened?
▼ + stars: | 2022-11-01 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +8 min

Caitlin O'Hara/Bloomberg/Getty ImagesGeneral Motors bought a self-driving company in 2016. Big talk, smaller resultsUrmson, while leading Google’s self-driving car project before founding Aurora, talked of his preteen son never needing to get a driver’s license. A self-driving car, without a steering wheel or pedals, would have to be able to drive itself in literally every situation possible. “It’s really, really hard,” Waymo’s then-CEO John Krafcik said in 2018 of self-driving technology. Companies developing lidar, widely seen as a key component for self-driving vehicles, as well as self-driving companies, have seen their stocks plummet recently.

☆ Polestar unveils a new $84,000 electric SUV it's hoping will help cement its foothold in the U.S.
▼ + stars: | 2022-10-12 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

Swedish EV maker Polestar on Wednesday unveiled a new electric SUV that it's counting on to expand its sales and presence in the United States. The new model, called the Polestar 3, is a five-passenger EV that the company describes as a "performance SUV." Priced at about $84,000, the car comes loaded with technology, including an Nvidia computer running advanced driver-assist software developed by Polestar's part owner, Volvo Cars. Another potential rival, BMW's all-electric iX SUV, starts at about $85,000. Polestar is a joint venture between Volvo Cars and Chinese automaker Geely, which has owned Volvo Cars since 2010.

☆ JPMorgan says this company could become a leader within autonomous vehicle technology
▼ + stars: | 2022-09-20 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Despite having a smaller order book than its peers, JPMorgan expects Luminar will exit the decade as a revenue leader. He said Luminar is expected to be the "supplier of choice" in the long-run due to its engagement and design. The Orlando-based company has also invested in its software stack with Zenseact, which Chatterjee sees as a differentiator that will help Luminar outgrow peers solely focused on hardware. Chatterjee forecasts Luminar will earn $7.25 per share on $6 billion in revenue by 2030. Having ended 2021, with a cash balance of about $750 million, the company is not in immediate need of additional capital, he said.

☆ Here are Tuesday's biggest analyst calls: Amazon, Ford, Humana, Tesla, Nike, Norwegian & more
▼ + stars: | 2022-09-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it sees competition rising in China and that Tesla is going through a "peak China dependency" phase. Morgan Stanley upgrades Humana to overweight from equal weight Morgan Stanley said in its upgrade of the health insurer that it sees "accelerated growth." Morgan Stanley reiterates Ford as equal weight Morgan Stanley kept its equal weight rating on the automaker, but said it investors might want to buy the stock on weakness. Morgan Stanley reiterates Amazon as overweight Morgan Stanley said that its checks show that Amazon is becoming a formidable competitor to Shopify. Barclays downgrades Nike to equal weight from overweight Barclays said in its downgrade of Nike that it sees rising inventory risks.

☆ There are 7 self-made billionaires under 30 on Forbes' billionaires list this year, and more than half of them are Stanford dropouts
▼ + stars: | 2022-04-06 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +3 min

Seven self-made billionaires under the age of 30 were named in Forbes' World's Billionaires List this year. Seven self-made individuals under the age of 30 were named in Forbes' World's Billionaires List this year. Brazilian-born corporate credit-card startup founders Pedro Franceschi, 25, and Henrique Dubugras, 26, are the world's youngest self-made billionaires named in Forbes' list this year. Two Stanford alumni also made this year's list of self-made billionaires under 30. Stanford University is located in Stanford, California, just a few miles from Palo Alto.

☆ La doar 18 ani are o avere de peste 3 miliarde de dolari. Topul celor mai bogați tineri din lume în anul 2021
▼ + stars: | 2021-04-08 | by ( Onixmedia Srl | ) diez.md time to read: +6 min

La doar 18 ani are o avere de peste 3 miliarde de dolari. Topul celor mai bogați tineri din lume în anul 2021Tradițional, în fiecare an, revista Forbes întocmește topul celor mai bogați oameni din întreaga lume. Cea mai tânără persoană din listă are 18 ani și o avere de peste trei miliarde de dolari. Alexandra este pasionată de hipism și a câștigat multiple premii și onoruri în competiții de dresaj de cai. Vezi aici și topul celor mai bogați oameni din întreaga lume în anul 2021.

Persons: Kevin David Lehmann, Lehmann, Werner, Guenther, Kevin David, Wang Zelong, Hua Yuan Titanium, Alexandra Andresen, Katharina Andresen, Alexandra, Katharina, Austin Russell, Russell, Universitatea Stanford . Russell, Gustav Magnar Witzoe, Gustav Magnar, Gustav, Andy Fang, Stanley Tang, Acum, Sam Bankman, Biden, Jonathan Kwok, Walter Kwok, Sun, Kai, Walter, Thomas, Raymond ., Jonathan, Geoffrey, Frații Organizations: Forbes, Wang, Hua Yuan Titanium Dioxide, Compania, Ferd Holdings, Universitatea Stanford, Volvo, Toyota, Universitatea Stanford ., ASA, Fang, Alameda Research, Empire Group Locations: Germania, Karlsruhe, China, Shenzhen, Norvegia, Gustav Magnar Witzoe, norvegian, Fang, DoorDash, New York, Hong Kong, Empire Group Holdings, SHKP

☆ Самому молодому в мире миллиардеру
▼ + stars: | 2021-04-08 | by ( Super User | ) mybusiness.md time to read: +1 min

Самым молодым миллиардером 2021 года по версии Forbes стал 18-летний Кевин Дэвид Леманн. В прошлом году самым молодым миллионером была 23-летняя модель Кайли Дженнер. Тогда Forbes оценил ее состояние в $700 млн, а к концу января нынешнего года её богатство достигло $1,2 млрд. Самым молодым self-made-миллиардером стал 26-летний создатель и руководитель компании-разработчика Luminar Остин Расселл. Об этом говорится в обновленном рейтинге Forbes.

Persons: Кевин Дэвид Леманн, Кайли Дженнер, Остин Расселл Organizations: Forbes Locations: НьюЙорк, Пекин, КНР

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