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Here are 6 signals investment bankers are watching as they pray for an M&A rebound in 2024. By contrast, activity from private equity firms "was off almost 40%," he said. In 2021, private equity firms transacted $1.5 trillion across 2,869 deals, according to Dealogic. Last year, private equity M&A made up 40% of total activity, according to Goldman Sachs. AI companies, many of which are only now being formed, need to mature, and the winners and losers need to come into focus, bankers said.

Persons: Wall, LSEG, Goldman Sachs, Vito Sperduto, Sperduto, we've, Stephan Feldgoise, Hess, Anthony J, Carfang, Cash, Goldman, Goldman's Feldgoise, Feldgoise, Mark Sorrell, I'm, Harold M, Lambert, Jerome Powell, Greg McBride, McBride, Jonathan Gray, dealmaking, Gray, Rob Chisholm, Chisholm Organizations: Fed, London Stock Exchange, Business, RBC Capital Markets, Conference Board, Conference, Federal, Goldman, Federal Reserve, Private, Bankers, DOJ, FTC, Federal Reserve Board, Bankrate, of Labor Statistics, Cisco, LSEG, Qatalyst Partners, Citi, & $ Locations: LSEG, Ukraine

☆ Investors see a biotech comeback in 2024 as rates fall, deal-making picks up. Stocks to watch
▼ + stars: | 2023-12-28 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +8 min

Many biotech stocks struggled in 2023 despite a robust year for U.S. drug approvals. "We expect this environment to continue but look forward to the prospect of lower interest rates in 2024." When that happens, Canaccord Genuity said to expect a "strong rally across the biotech sector rewarding innovative, but riskier assets." Analysts have said the rich price reflects the opportunity for ImmunoGen's Elahere cancer treatment , which has quickly established itself as the standard of care for types of ovarian cancer. 'Oversold and cheap' In a research note Friday, Jefferies analyst Michael Yee said "a significant short squeeze" was helping biotech stocks in the fourth quarter.

Persons: Dan Lyons, Janus Henderson, John Newman, Canaccord Genuity, Janus, Lyons, Bristol Myers Squibb, Karuna, AstraZeneca, Eli Lilly, AbbVie, Jonathan Miller, Miller, bode, Jonathan Krinsky, Krinsky, BTIG's, Jefferies, Michael Yee, Yee, NASH, Madrigal, we're, David Risinger, — CNBC's Michael Bloom Organizations: Drug, Federal, Bristol Myers, Karuna Therapeutics, CART, Bristol Myers Squibb, Cerevel Therapeutics, Securities and Exchange Commission, pharma, P Biotech, Nasdaq Biotech, Apogee Therapeutics, Madrigal Pharmaceuticals, Madrigal, resmetirom, Vertex Pharmaceuticals, Leerink Partners Locations: ImmunoGen

☆ What the COP28 deal means for the U.S. as oil and gas production hits record levels
▼ + stars: | 2023-12-13 | by ( Sam Meredith | ) www.cnbc.com time to read: +6 min

The agreement, known as the global stocktake, was hailed as "historic" by COP28 President Sultan al-Jaber during his closing speech. Samuel Corum | Getty Images News | Getty ImagesU.S. climate envoy John Kerry said Wednesday that the COP28 agreement "sends very strong messages to the world." The fight to end oil, gas and coal must now be taken up at the country level with the United States leading the way. Fossil fuels and climate financeUnder Biden, the U.S. passed the most aggressive climate investment ever taken by Congress, a bill known as the Inflation Reduction Act. Nonetheless, the White House has frequently received sharp criticism over its plans to expand oil and gas production.

Persons: Joe Biden, Cyril Ramaphosa, Joe Biden's, Sultan al, Jaber, Samuel Corum, John Kerry, Kerry, Jean Su, Jason Bordoff, Su, Nikki Reisch, Reisch, Biden, Jennifer Granholm, Brandon Bell Organizations: White, Washington , D.C, Bloomberg, Getty, European Union, Washington Hilton, United, Center for Biological, . Energy, Administration, Russia, Center, Global Energy, Columbia University, CNBC, Center for Biological Diversity, Center for International Environmental, U.S, Biden, Marathon El Locations: South, Washington ,, Connecticut, Washington , DC, United States, China, U.S, Saudi Arabia, Russia, Ukraine, America, Marathon El Paso Refinery, El Paso , Texas, The U.S

☆ Inflation slowed to a 3.1% annual rate in November
▼ + stars: | 2023-12-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

While the monthly rate indicated a pickup from the flat CPI reading in October, the annual rate showed another decline after hitting 3.2% a month earlier. The consumer price index, a closely watched inflation gauge, increased 0.1% in November, and was up 3.1% from a year ago, the Labor Department reported Tuesday . Economists surveyed by Dow Jones had been looking for no gain and a yearly rate of 3.1%. Food prices increased 0.2%, boosted by a 0.4% jump in food away from home. On an annual basis, food rose 2.9% while energy was down 5.4%.

Persons: Dow Jones, Liz Ann Sonders, Charles Schwab, Lisa Sturtevant Organizations: Labor Department, Federal Reserve, Treasury, Bright MLS, Fed, CNBC Fed Survey, CNBC PRO

☆ Why automakers are turning to hybrids in the middle of the industry's EV transition
▼ + stars: | 2023-12-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +9 min

Sales of traditional hybrid electric vehicles, or HEVs, such as the Toyota Prius, are outpacing those of all-electric vehicles in 2023, according to Edmunds. Sales of plug-in hybrid electric vehicles, or PHEVs, accounted for only 1% of U.S. sales through November. In comparison, Ford's EV sales are up 16.2% to roughly 62,500 units, accounting for 3.5% of its total sales. Battery breakdown Both hybrids and plug-in hybrids have a traditional engine combined with EV technologies. The world's largest automaker is considered the pioneer of traditional hybrids, with the Prius.

Persons: Scott Mlyn, Biden, HEVs, EVs, There's, Jessica Caldwell, Edmunds, Morgan Stanley, Eric Watson, Jim Farley's, Jeep Wrangler, Motors, Mary Barra, It's, Mark Reuss, Stephanie Brinley, Akio Toyoda Organizations: CNBC DETROIT —, EV, Toyota Prius, Toyota, Honda Motor, Hyundai, Kia, U.S, Representatives, Kia America, CNBC, Detroit automakers, Detroit, Ford Motor, Ford, Chrysler, Jeep, Cherokee, GM, Chevrolet, Automotive Press Association, National, Traffic Safety Administration, American Automotive Policy Council, Reuters, NHTSA, P Global Mobility . Industry, EVs, Wall Street Locations: Edmunds, U.S, That's, Kia America's, China, Detroit, EVs

☆ California YouTuber sentenced to prison after intentionally crashing plane
▼ + stars: | 2023-12-05 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +2 min

A California man was sentenced to six months in federal prison on Monday for allegedly lying to federal authorities when they were investigating an airplane he intentionally crashed to make a YouTube video. The man, former Olympic snowboarder Trevor Daniel Jacob, filmed the YouTube video stunt to promote a wallet from a company that sponsored him, according to the plea agreement filed in the Central District of California. He pled guilty to destruction and concealment of a tangible object with intent to obstruct a federal investigation. Jacob took off on a solo flight on Nov. 24, 2021, in Santa Barbara County, California, and parachuted out of the plane with a video camera and selfie stick. Jacob allegedly agreed to inform the NTSB of the location, but lied multiple times when investigators asked over the next two months.

Persons: Trevor Daniel Jacob, Jacob Organizations: Olympic, YouTube, Central District of, Los Padres National Forest, National Transportation Safety Board, NTSB, U.S . Department of Transportation's, Federal Aviation Administration, U.S, Attorney's, CNBC PRO Locations: California, Central District, Central District of California, Santa Barbara County , California, Los, Santa Maria , California

☆ Greek olive growers brace themselves as thieves seek pricey crop
▼ + stars: | 2023-12-05 | by ( Lefteris Papadimas | ) www.reuters.com time to read: +3 min

Tsafaras has been robbed twice, with thieves stealing more than a tonne of his olives in one incident last month. Greek police confirmed to Reuters that there is a spike in thefts of olives and olive oil across the country this year. Greece is the world's third-biggest producer of olive oil behind Italy and Spain, which have seen similar incidents. The decline in output has doubled olive oil wholesale prices to 8-9 euros per litre, according to government officials. Retail prices have reached up to 14 euros, making the crop an appealing target for thieves.

Persons: Louisa Gouliamaki, Panagiotis Tsafaras, Tsafaras, Dimitris Plakonouris, Plakonouris, Panagiotis Foudas, Lefteris Papadimas, Mark Porter Organizations: REUTERS, Reuters, Thomson Locations: Sesklo, Greece, Filiatra, Italy, Spain,

Mendes' account is one of seven given to Reuters by first responders or others dealing with the dead that attest to alleged sexual violence. VICTIMS DEAD, TRAUMATIZEDIn Israeli criminal law, sexual violence includes rape, but also indecent acts, harrassment and sexually demeaning a person – including forced nudity – among other offences. Some of those purporting to show sexual violence could not be authenticated – one seen by Reuters appeared to date to 2021. The news agency verified the locations of two other videos that suggest sexual violence, shared on social media within a day of the attack. Israeli lawyers say its evidentiary requirements on sexual violence are less challenging than Israel's.

Persons: Ronen, Shari Mendes, Mendes, It's, Deen al, Beeri, Taher al, Nono, Orit Soliciano, Neubach, Shelly Harush, Chen Kugel, Kugel, Dana Pugach, Rabbi Israel Weiss, Nachman Dyksztejn, Rami Shmuel, Shani Louk, Yael Vias Gvirsman, Vias Gvirsman, Geert, Jan Knoops, Israel, Peter Hirschberg, Anthony Deutsch, Stephanie Van Den Berg, Edmund Blair, Sara Ledwith, Daniel Flynn Organizations: Nova Festival, REUTERS, Rights, Shura, Reuters, Israel's Association, Association, Authorities, Israel National Center of Forensic Medicine, Ono Academic, Zaka, Police, Criminal Court, ICC, Israel's, Israeli Defence Force, Thomson Locations: Gaza, Israel's, Israel, Israeli, The Hague, Tel Aviv, Shura, Amsterdam, London

☆ An influencer pilot who crashed his plane for his YouTube channel has been sentenced to 6 months in prison, prosecutors say
▼ + stars: | 2023-12-05 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

YouTuber Trevor Jacob has been sentenced to six months in prison, prosecutors said. Jacob intentionally crashed a small plane in California on 2021 for a YouTube video. Two days later, Jacob informed the National Transportation Safety Board of the plane crash, and said he would help them locate the crashed plane, prosecutors said. When pleading guilty in June, Jacob said he'd agreed to advertise a sponsor's product — a wallet — in his YouTube video, prosecutors said. AdvertisementJacob did not address why he had pretended the plane lost power in his 2021 video and his aircraft accident incident report.

Persons: YouTuber Trevor Jacob, Jacob, he'd, —, Trevor Jacob, he's, John F, Walter, Jacob didn't, He'd, YouTubers Organizations: Service, Los Padres National Forest, US, Central, Central District of, National Transportation Safety, Federal Aviation Administration, YouTube, Padres, FAA, Business Locations: California, Central District, Central District of California, Lompoc, Mammoth

☆ Elon Musk's Cybertruck apocalypse
▼ + stars: | 2023-12-05 | by ( Adam Rogers | ) www.businessinsider.com time to read: +8 min

In most regards, the sales pitch for Tesla's new Cybertruck doesn't differ in its particulars from the value proposition of any other pickup or SUV. But unlike the Cybertruck, its sales pitch has a curve: Musk has said all along that it's designed to be your go-to vehicle for the End of the World. "The apocalypse could come along at any moment, and here at Tesla we have the finest in apocalypse technology." If you believe in an apocalypse with trucks, you must also believe that someone will be maintaining the necessary infrastructure. In the early 20th century, when cars first came within financial reach of average Americans, the sales pitch focused on freedom of movement.

Persons: Elon, Musk, —, It's, cofound, Ursula K, Le Guin, Ken Liu, Mike Pondsmith, Adam Rogers Organizations: SpaceX, Insurance Institute for Highway Safety, Cooperation Locations: Francisco, Megacity

and long-shot presidential candidate Doug Burgum underscored a harsh political reality Monday as he suspended his campaign for the White House: Money can get you noticed. But as with most other self-funded candidates, his money didn't buy support. A study by the nonpartisan Center for Responsive Politics earlier this year found that few self-funded candidates in the 2022 midterms actually won their elections. But self-funded candidates "were some of the biggest losers" in 2022, with just two of the top 10 self-financing candidates pulling out a win, Open Secrets found. As he departed the race Monday, Burgum said he had changed the debate by getting contenders to talk about energy policy.

Persons: Doug Burgum, Burgum, Joe Biden, he'd, ‘, Donald Trump, Nikki Haley, Ron DeSantis, Trump, –, Barack Obama, midterms Organizations: North Dakota Gov, White, Republican, Republican National Committee, University of Alabama, GOP, Trafalgar Group, Software, Microsoft, South, Responsive Locations: Tuscaloosa, Burgum, Milwaukee, California, South Carolina, Florida

☆ Monday's analyst calls: 30% upside for GM, Carvana upgrade, Anheuser-Busch downgrade
▼ + stars: | 2023-12-04 | by ( Brian Evans | ) www.cnbc.com time to read: +7 min

So far this morning there is a big auto stock upgrade and a big beverage downgrade, among other calls. Morgan Stanley dimmed its view on Citizens Financial , downgrading the stock to equal weight from overweight but maintained its $31 per share price target, implying roughly 9% upside. The firm made the chipmaker its top large cap pick on Monday, and reiterated an overweight rating alongside a $620 per share price target. The analyst raised his price target from $25 to $40, which represents 14% upside. "We continue to see ABI's broadly EM focused sales exposure as attractive combined with the company's market leading market share positions," analyst Mitch Collett said.

Persons: Morgan Stanley, Manan, Brian Evans, Piper Sandler, Piper Sandler's, Harsh Kumar, Kumar, Wells, Ike Boruchow, Boruchow, — Brian Evans, JPMorgan's Rajat Gupta, Carvana, John Melloy, Bud Light, Mitch Collett, Vijay Rakesh, Rakesh Organizations: CNBC, East West Bancorp, Citizens Financial, Citizens, West Bancorp, Nvidia, TAM, Wells, JPMorgan Carvan, JPMorgan, Deutsche Bank downgrades Anheuser, Busch, Deutsche Bank, Anheuser, Busch InBev, Staples, Beverages, Mizuho Securities Mizuho Securities, General, United Auto Workers, GM, Vehicles, UAW Locations: China, Wells, Friday's, North America, N.A

LOS ANGELES (AP) — An influencer who staged a California plane crash to make a YouTube video of himself parachuting to safety was sentenced Monday to six months in federal prison for obstructing the investigation by destroying the wreckage, the U.S. Justice Department. Trevor Daniel Jacob, 30, an experienced pilot and skydiver, pleaded guilty in June to one count of destruction and concealment with the intent to obstruct a federal investigation. After landing, he hiked to the crash site and recovered video from the onboard cameras, the government said. The plane was later cut up, and the parts were disposed of in trash bins. Jacob, of Lompoc, California, had his pilot license revoked by the Federal Aviation Administration in 2022.

Persons: Trevor Daniel Jacob, skydiver, Jacob Organizations: ANGELES, U.S . Justice, Los Padres National Forest, Justice, Federal Aviation Administration Locations: California, Santa Barbara County, Lompoc , California

☆ Ford's strong hybrid sales show the company needs to pivot to increase profits
▼ + stars: | 2023-12-04 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Hybrids "make a ton of money," Jim Cramer said Monday after Ford reported a 75% year-over-year surge in hybrid sales in November to roughly 12,100 vehicles. "Ford should be spewing capital right now," because hybrid vehicles are more profitable than EVs, Jim added. He also suggested that given the new sales numbers Ford could be in better shape than its stock indicates. Perhaps keeping a lid on gains was the 6.5% drop reported in legacy internal combustion engine vehicle (ICE) sales to nearly 124,500 units. Maverick and F-150 trucks drove a 40% increase in hybrid sales in the third quarter, the three months ended in September.

Persons: Jim Cramer, Ford, Jim, Jim Farley, Farley, Jim Cramer's Organizations: Ford, EV, ICE, United Auto Workers, UAW, CNBC, Ford Maverick

☆ Electric cars are having more problems, but not because they’re electric
▼ + stars: | 2023-12-04 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

New York CNN —Electric vehicles have 79% more problems than other vehicles, according to Consumer Reports’ latest annual auto reliability survey. The problems arise because electric cars are mostly new models, and recently-introduced car models generally tend to have more issues, regardless of what propels them. Besides that, electric vehicles tend to be higher priced models with more sophisticated technology features, from additional safety sensors to more gadgets and doo-dads. Electric pickup trucks, in particular, tended to fare the worst in Consumer Reports’ reliability survey. Not all electric vehicles are so unreliable, though, according to Consumer Reports’ survey data.

Persons: Jake Fisher, haven’t, ”, Fisher, that’s, It’s, That’s Organizations: New, New York CNN —, Consumer, EV, Tesla, Ford, Nissan, Hyundai, Toyota, Honda, Kia Locations: New York

☆ After 3 years of pain, America has finally achieved economic nirvana
▼ + stars: | 2023-12-03 | by ( Neil Dutta | ) www.businessinsider.com time to read: +11 min

The October jobs report — with the economy adding just 150,000 jobs and the unemployment rate ticking up to 3.9% — was a disappointment. Of particular notice, the unemployment rate has increased by half a percentage point over the past six months. A simple way to show that things are still in balance is to look at Okun's law, a relationship between movements in the unemployment rate and economic activity. The historical record shows that once it rises half a percentage point, the unemployment rate tends to rise even more. The unemployment rate is already above the Fed's year-end forecast of 3.8% — the first time that's happened since March 2022.

Persons: Jerome Powell, it's, It's, we're, What's, what's, Neil Dutta Organizations: Federal Reserve, Fed, Macro Locations: joblessness, nonfarm payrolls

In 2019, Jesse Wig, Adam Colucci and Dan Spanovich bought an abandoned high school in Homestead, Pennslyvania. Wig, Colucci, and Spanovich went into the project with a budget of $3.2 million and, in the end, spent about $4.5 million renovating the Schwab School. The partners ended up spending about $4.5 million to renovate the Schwab School. Because Bowtie High and the Schwab School are across the street, the two are sister buildings. For now Wig, Colucci, and Spanovich don't have plans to take on another project together.

Persons: Jesse Wig, Adam Colucci, Dan Spanovich, Schwab, Charles M, Spanovich Organizations: Schwab, CNBC, Schwab Vocational School, Pittsburgh Post, Gazette, Scwab, Malhari Media Locations: Homestead, Pennslyvania, American, Pennsylvania

☆ All the reasons why Elon Musk's Cybertruck won't be coming to Europe anytime soon
▼ + stars: | 2023-12-02 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

It may not be worth Tesla's while to make a Europe-friendly version of the Cybertruck. AdvertisementAfter years of waiting, the Cybertruck is finally here — but European Tesla fans shouldn't get too excited. There are a few reasons why it's unlikely to be sold across the Atlantic anytime soon. Advertisement"For a vehicle in the category of the Cybertruck, there's not a huge market in Europe, because pickup trucks generally are not very common." Elon Musk at the Tesla Cybertruck delivery event.

Persons: —, Tesla, Pedro Pacheco, Pacheco, there's, Elon Musk Organizations: EU, Service, European, Tesla, Gartner, NAC, CCS, Business Locations: Europe, European Union, EU, North America

☆ How Tesla’s Cybertruck Compares With Other Pickups
▼ + stars: | 2023-12-01 | by ( Nate Rattner | Rebecca Elliott | ) www.wsj.com time to read: 1 min

AUSTIN, Texas— Tesla ’s long-awaited Cybertruck has hit the road, but how does it compare with its rivals? With the unusual, stainless-steel pickup, Tesla is aiming to tap into demand from consumers who want a head-turner that is quick and capable of towing cargo or taking a beating off-road.

Persons: Tesla, Cybertruck Locations: AUSTIN, Texas

☆ Tesla’s Cybertruck Is More Marketing Than Profit Machine
▼ + stars: | 2023-12-01 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Tesla CEO Elon Musk delivered the company’s first Cybertruck pickups to customers at an event in Texas on Thursday. Photo: TeslaThe Cybertruck isn’t good for Tesla ’s finances, so it had better be great for the brand. On Thursday afternoon in Austin, Texas, two years later than initially planned, the electric-vehicle pioneer finally delivered its first pickup trucks, setting the financial ball rolling on its first new product since the Model Y started shipping almost four years ago. But we already know this won’t be a money-spinner for Tesla, at least not in 2024. Chief Executive Officer Elon Musk said in October it might take 18 months to increase output to the point where the Cybertruck makes a significant contribution to cash flows.

Persons: Elon Musk, Tesla Locations: Texas, Austin , Texas

☆ Wild price inflation and a blocky design: Elon Musk's $60,990 Cybertruck is a totally ludicrous idea
▼ + stars: | 2023-12-01 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Tesla's Cybertruck still makes no sense. Elon Musk livestreamed a delivery event for the pickup truck on Thursday. How it makes sense for Tesla, Elon Musk, or people's daily commutes is still anyone's guess. On its website, Tesla describes the vehicle as being "built for any planet," thanks to its durable and rugged design. "The truck looks absolutely awful.

Persons: Tesla's, Elon Musk, —, Musk, 04EfaB01Fb — Jon Erlichman, Gun, I've, Gene Munster, Morgan Stanley, Tesla Organizations: Service, Texas, Porsche, Plaid, CNBC Locations: Texas, Wyoming

☆ Rep. George Santos expelled from Congress for corruption, cutting GOP majority
▼ + stars: | 2023-12-01 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

Rep. George Santos (R-N.Y.) arrives to speak about the House Ethics Committee report and potential expulsion from Congress this week during a press conference outside on Capitol Hill on Thursday, Nov. 30, 2023, in Washington, DC. The House voted Friday to expel Rep. George Santos from Congress for his alleged finance crimes and his campaign lies, shrinking the GOP's already slim majority. Santos is the sixth House member in U.S. history to be booted from Congress, and the third since the Civil War. Former Democratic Rep. Tom Suozzi, who left the seat in New York's 3rd congressional district to run for governor, has already launched a campaign to take it back. The resolution, brought by Santos' fellow New York Republicans was the latest effort to boot the embattled 35-year-old freshman lawmaker.

Persons: George Santos, Santos, Kathy Hochul, Hochul, Tom Suozzi, Mike Johnson, Steve Scalise Organizations: The, Congress, New York Republican, Republicans, Democratic, Republican, New York Republicans Locations: Washington ,, York, New York's, Long

☆ For eastern Ukrainians, the ordeal of war is entering its second decade
▼ + stars: | 2023-12-01 | by ( Max Hunder | ) www.reuters.com time to read: +7 min

It is now close to the front line between Ukrainian and Russian forces, and many of its buildings are damaged or destroyed. Like most people from Chasiv Yar, Tkachov has moved further from the fighting though some remain. All of them have lived through nearly a decade of war, a reminder that for millions in eastern Ukraine the conflict has rumbled on since 2014, long before Russia's full-scale invasion in February last year grabbed the world's attention. BUILD-UPUkraine and its Western allies say Russia infiltrated eastern Ukraine with fighters and intelligence operatives to stage a coup in Donbas in 2014 which Moscow subsequently supported with regular troops. FULL-SCALE WARThe U.N. human rights office estimated that more than 14,000 military personnel and civilians were killed in eastern Ukraine from early April 2014 to the end of 2021.

Persons: Tkachov, Alina Smutko, CHASIV, Chasiv Yar, Vladimir Putin, Viktor Yanukovych, Yanukovych, Max Hunder, Mike Collett, White Organizations: REUTERS, Reuters, Russian, Russia, Timothy Heritage, Thomson Locations: Kostiantynivka, Ukraine, Donetsk region, Donbas, CHASIV YAR, Chasiv, Russian, Russia, Moscow, Donetsk, Luhansk, Soviet Union, Ukrainian, CRIMEA, Kyiv, Crimea, Sloviansk, Soviet

The logo of a Tesla electric vehicle is placed on a car outside a dealership in Drogenbos, Belgium November 25, 2023. REUTERS/Yves Herman/File Photo Acquire Licensing RightsDec 1 (Reuters) - Tesla shares (TSLA.O) fell about 2% on Friday after the highly anticipated launch of its Cybertruck left analysts concerned about the electric vehicle's steep price tag and a longer wait for significant financial payoff. Musk has said Tesla was likely to reach a production rate of roughly 250,000 Cybertrucks a year in 2025. At $235.45, Tesla was set to lose about $15 billion in market valuation on Friday. "Cybertruck is more of a 'halo' product, in our view, to attract consumers to the brand for the mainstream vehicles Model 3 and Model Y," RBC Capital Markets analyst Tom Narayan said.

Persons: Yves Herman, Elon Musk, Wedbush, Bernstein, Musk, Tesla, Tesla's, Rivian, R1T, Tom Narayan, Samrhitha Arunasalam, Chavi Mehta, Devika Organizations: REUTERS, General Motors, Hummer, RBC Capital, Thomson Locations: Drogenbos, Belgium, Bengaluru

Some of that loss may be because of disappointing news about the Cybertruck’s pricing and availability. But some may also reflect renewed concern about Elon Musk’s latest comments, made at the DealBook Summit this week, and whether his self-inflicted damage at X is distracting from his other businesses. Advertisers aren’t impressed by Musk’s recent tirade. On Wednesday, he asserted that brands were trying to “blackmail” him by suspending their advertising after he endorsed an antisemitic conspiracy theory on X. “There is no advertising value that would offset the reputational risk of going back on the platform,” Lou Paskalis, the founder and C.E.O.

Persons: Tesla’s, Elon Musk’s, aren’t, Musk’s, ”, Lou Paskalis Organizations: Tesla, AJL, Times

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