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☆ Kia says hybrids aren't a threat to EVs but are the perfect gateway to electrification
▼ + stars: | 2024-06-11 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +5 min

While EV sales fell in the first quarter of 2024 by more than 15% compared to the previous three months — their first drop since 2020 — hybrid sales are booming. But Kia sees hybrids as an opportunity to get potential BEV buyers in the door. AdvertisementBut if you look at the largest and arguably most important segment these days, compact SUVs, hybrids account for nearly one-fifth of sales, Kosowski said. AdvertisementFor Kia, building hybrids instead of EVs affects its bottom line beyond the revenue it generates. EVs cost substantially more to build than ICE and hybrid vehicles.

Persons: —, Steve Kosowski, Kia, Kosowski, Kia Niro, ROBIN TRAJANO, BEV, ZEV Organizations: Service, Business, Long, Kia Motors America, EV, Kia, ICE Locations: PWC

Oppenheimer raised its price target on Nvidia after the company completed a 10-for-1 stock split. 7:07 a.m.: Baird increases First Solar price target Baird thinks First Solar has more room for growth after soaring 46% in the past month. His buy rating and $238 per share price target implies more than 23% upside ahead. — Brian Evans 5:41 a.m.: Oppenheimer raises Nvidia price target after stock split Nvidia's momentum will continue, according to Oppenheimer. — Brian Evans 5:41 a.m.: JPMorgan says buy Shopify Shopify is the "online sale you don't want to miss," according to JPMorgan.

Persons: Oppenheimer, Baird, Ben Kallo, Kallo, — Brian Evans, Apple's, Samik Chatterjee, WWDC, Atif Malik, We're, Goldman Sachs Michael Ng, OpenAI, Brian Evans, Morgan Stanley, Adam Jonas, Ford, Jonas, Ford's, Rick Schafer, Schafer, Reginald Smith, Smith, Fred Imbert Organizations: CNBC, Nvidia, JPMorgan, iPhone, Citi, Ford, China EV Locations: Monday's

☆ GM trims 2024 EV forecast amid slower-than-expected demand
▼ + stars: | 2024-06-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors is trimming its expected sales and production of all-electric vehicles this year, as U.S. adoption of EVs occurs slower than expected. GM Chief Financial Officer Paul Jacobson said the company now expects production of 200,000 to 250,000 EVs this year, down from a previously announced range of 200,000 to 300,000. Jacobson said GM expects EVs to make up 8% of U.S. sales industrywide this year. GM expects its EVs to be profitable on a production, or contribution-margin basis, once it reaches production of 200,000 units. EV sales totaled 16,425 units, or 2.8% of the automaker's overall sales during the period.

Persons: Paul Jacobson, Jacobson, EVs Organizations: DETROIT, GM, Deutsche Bank Locations: North America

☆ Here are Monday's biggest analyst calls: Nvidia, Tesla, Apple, Walmart, Microsoft, Disney, Arm, GM, DraftKings & more
▼ + stars: | 2024-06-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley resumes Broadcom as overweight Morgan Stanley resumed coverage of Broadcom , saying it's "compelling." UBS reiterates Apple as neutral UBS said its survey checks show that interest in AI remains "muted" for Apple. Morgan Stanley names DraftKings a top pick Despite gaming tax issues in Illinois, Morgan Stanley moved the gaming stock back to top-pick status. Morgan Stanley downgrades Advanced Micro Devices to equal weight from overweight Morgan Stanley said investors' expectations are "too high." UBS reiterates Micron as buy UBS raised its price target on Micron to $155 per share from $125.

Persons: Truist, Morgan Stanley, TD Cowen, Bernstein, Tesla, underperform Bernstein, Elon Musk, Disney, DraftKings, Jefferies, Colleen, Wells, Raymond James, MHK, Rosenblatt, NVDA, Melius Organizations: Microsoft, New, Broadcom, UBS, Apple, Nvidia, Disney, North America Gaming, Jefferies, JPMorgan, Honeywell, Micron, Nike, ARM, Adobe, Citi, General Motors, Bank of America, Mobile Locations: Int'l Parks, Illinois, North

☆ Chinese EV manufacturers are now 'scouting' the EU, professor says
▼ + stars: | 2024-06-10 | 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 EmailChinese EV manufacturers are now 'scouting' the EU, professor saysCedomir Nestorovic, professor of geopolitics at ESSEC Business School, discusses EU-China trade tensions and Turkey's decision to impose an additional 40% tariff on vehicle imports from China.

Persons: Cedomir Nestorovic Organizations: ESSEC Business School, EU Locations: China

☆ India's race to overtake China will intensify after Modi's reelection because they have the same obsession, analyst says
▼ + stars: | 2024-06-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewIndian Prime Minister Narendra Modi this week secured a historic third term in office — and it's likely to intensify India's economic rivalry with China. Both India and China will be focused on manufacturingTo reach its goal, Modi's India will likely be going big on manufacturing. Companies are diversifying their operations outside China to avoid over-relying on one country, and India is aiming to be the new China. AdvertisementIndia's foreign policy toward China is unlikely to change following Modi's re-election, Ivan Lidarev, an Asian security scholar at King's College London, told Channel NewsAsia. "I think India has strived to position itself as a leader of the global south, and of course, China wants this position," added Lidarev.

Persons: —, Narendra Modi, David Lubin, Modi, Xi Jinping, Bharat, Lubin, Raghuram Rajan, NPR's, Rajan, It's, William Lai's, Mao Ning, Ivan Lidarev Organizations: Service, London, Business, South, Central Bank of India, EV, King's College London, West Locations: —, China, Asia, India, Vietnam, Bangladesh, Malaysia, Delhi, Taiwan, Beijing

☆ With EVs, Honda may be North America's most committed automaker, for the moment
▼ + stars: | 2024-06-09 | by ( Kevin Williams | ) www.cnbc.com time to read: +6 min

While missing a host of brands, this year's edition of the Los Angeles Auto Show debuted a range of new models. But at least one automaker says it is ramping up its North American EV strategy in 2024: Honda Motor Company. Honda's EV moves come against the backdrop of EV pullbacks from other major auto manufacturers; and in some cases, shelved EV plans altogether. GM itself is playing a key role in the first mass-market EV Honda is introducing, the Prologue. The All-Electric Acura ZDX is displayed during the 2023 Los Angeles Auto Show at the Los Angeles Convention Center on November 24, 2023 in Los Angeles, California.

Persons: Josh Lefkowitz, Ford, Bob Nelson, Nelson, BEV, It's, Honda, Cliff Banks, Banks, Mary Barra, Jenni Newman, Kelley Blue, Tesla, Newman Organizations: Angeles Auto, Los Angeles Convention Center, Los Angeles Auto, Getty, Honda Motor Company, Canadian EV, pullbacks, GM, American Honda Motor Co, Honda, EVs, Banks, Auto, NBC News, EV Honda, Acura, Subaru Locations: Los Angeles , California, Canadian, Ohio, American, Canada

☆ EVs are too expensive. Here are 5 cheaper models coming soon.
▼ + stars: | 2024-06-09 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

Demand for electric vehicles has slowed in recent months amid a lack of cheaper options, and carmakers are now scrambling to develop more affordable EVs. AdvertisementLuckily for these consumers, the next few years should see a range of more affordable electric vehicles released. Here are some other new affordable EV options coming soon:Volvo EX30The Volvo EX30 goes on sale in the US this summer. picture alliance/Getty ImagesGerman automaker VW abandoned plans to build affordable EVs with European rival Renault last month, and is planning to go solo. Elliot Ross Studio, INCRivian founder RJ Scaringe pulled off a Steve Jobs-style "one more thing" when he unveiled two new affordable EVs in March.

Persons: —, John Keeble, Kia EV3, Josh Lefkowitz, Kia, Elliot Ross, RJ Scaringe, Steve Jobs, Tesla, Rivian, Scaringe Organizations: Service, Business, Ford, Nissan, Volvo, Reuters, Kia, Hyundai, EV, BI, Getty, GM, Equinox, US, VW, Volkswagen, Renault, Elliot Ross Studio, INC Rivian, Tesla Locations: Edmunds, Korean, Korea, Europe, Anadolu

☆ Renting an electric car for the first time? What could go wrong?
▼ + stars: | 2024-06-08 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —Lydia Wu had never driven an electric vehicle before she rented a car from Avis last February. Rental car companies may have overestimated their customers’ readiness for a switch, though. In my case, I’ve rented EVs from Turo, a peer-to-peer car rental platform that’s sort of like Airbnb but for cars. Customer service as keyJoulez, an EV rental company, rents its fleet through its own website as well as through Turo. But not everyone has such a bad time when renting an EV from a big rental car company.

Persons: Lydia Wu, Wu, EVs, Hertz, Stephen Scherr, it’s, ” Hertz, Doug Jensen, Tesla, ”, “, ” Wu, I’ve, Micah Bergdale, they’re, Joulez, Jay Waldron, Waldron, Kia Organizations: CNN, Avis, Cox Automotive, Tesla, General Motors, Hertz, Kia, EV, Turo, Hyundai Kona EV, National Locations: Kansas City , Kansas, Hertz, San Diego, it’s, Polestar, New York City, “, Turo, Georgia, Washington, DC

☆ Chinese electric car company Nio to enter Middle East this year amid global expansion by peers
▼ + stars: | 2024-06-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Chinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China. CNBC | Evelyn ChengBEIJING — Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an earnings call Thursday, at a time when rivals have been increasing their global footprint. The nearly 10-year-old company will also start shipping its lowest-cost brand, Firefly, in the first half of next year, Li said. The battery and electric car giant said in November it opened a showroom in Dubai Festival City as part of a collaboration with Al-Futtaim Electric Mobility Company. watch nowAs competition in the Chinese electric car market intensifies, Nio launched a lower-priced brand called Onvo in May.

Persons: Nio, Evelyn Cheng, William Li, Li, BYD, Nomura, Nio's Li Organizations: CNBC, United, United Arab Emirates, United Arab, Dubai Festival City, Al, Futtaim Electric Mobility Company, Tesla, BMW Locations: Shanghai, China, Evelyn Cheng BEIJING, Middle East, U.S, United Arab, Europe, United Arab Emirates, Dubai, 2H24

☆ GM has a secret to help sell its new EVs. It's Costco
▼ + stars: | 2024-06-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

Costco Auto has facilitated more than 500,000 vehicle sales annually over the past five years on average, according to Jay Maxwell, Costco Auto Program general manager responsible for strategic partnerships. GM declined to disclose how many Costco customers have purchased GM vehicles through the program. EV interestA growing number of vehicle sales made through Costco Auto are of electric vehicles, Costco said. In addition to GM, Costco Auto has partnered with Volvo, including its Polestar EV startup brand, Audi and others over the years. The Costco Auto Program was initially part of wholesale competitor Price Club, which merged with Costco in 1993.

Persons: Kena, Motors, it's, Marissa West, Michael Wayland, Jay Maxwell, Maxwell, Mary Barra, That's, Cox, Scott Mlyn, Julie Craig, –, Melissa Repko Organizations: Costco, Corbis, Getty, DETROIT —, Costco Wholesale, Detroit automaker, Costco Auto Program, EVs, Chevrolet, Chevrolet Blazer, GM North America, CNBC, U.S, Costco Auto, Canada, Ford Motor, Volkswagen, Brands, Lithia Motors, AutoNation, GM, EV, Volvo, Audi, CNBC Costco Auto, Cadillac, Industry, Cox Automotive, Dealers, New York Auto Show, Price Club Locations: Teterboro , New Jersey, CNBC, U.S, Detroit, Canada

☆ BYD vs Huawei: Trash talking by China’s EV giants highlights pressures at heart of world’s biggest car market
▼ + stars: | 2024-06-07 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —As profit margins get squeezed, temperatures are rising in the world’s biggest car market. A tense exchange between two major Chinese electric vehicle (EV) manufacturers in recent days highlights the pressures they face as a price war in the industry intensifies. While top executives from the EV industry often post on social media about a range of topics, including technology and advertising, they rarely name rival companies, especially when criticizing them. In recent months, a price war has escalated in China’s hyper-competitive EV industry, with manufacturers battling for consumer attention with deep discounts or newer, cheaper models. The country has more than 200 EV manufacturers who are grappling with huge oversupply and slowing consumer demand.

Persons: Yu Chengdong, ”, Elon Musk, Tesla, ” Yu, Joe Biden, Mr Yu, ” Li Yunfei, Huawei's, Li, Wang Chuanfu, BYD, Wang Organizations: Hong Kong CNN —, BYD, European Union, Huawei Locations: China, Hong Kong, Shenzhen, BYD, Weibo, Shanghai

☆ Here are Friday's biggest analyst calls: Nio, Nvidia, UPS, Amazon, Oracle, Lyft, Microsoft, Walmart, Exxon, Netflix, AT&T & more
▼ + stars: | 2024-06-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

We reiterate our Buy rating." Deutsche Bank reiterates Adobe as buy Deutsche said it's sticking with its buy rating ahead of earnings next week. Loop reiterates Best Buy as buy Loop said it's sticking with its buy rating on the stock. "We maintain our above consensus Best Buy estimates, reiterate our Buy rating, and are raising our price target to $100 from $93." Morgan Stanley reiterates Walmart as overweight Morgan Stanley said it's standing by its overweight rating on the stock.

Persons: Oppenheimer, Wells, it's, TD Cowen, Wolfe, NVDA, Morgan Stanley, Nio, BTIG, Ally, Mizuho, JPMorgan, JPMorgan downgrades Vail, Lynch Organizations: Oppenheimer, UPS, Amazon Web Services, Nvidia, Norfolk Southern & Union Pacific, Union Pacific, Norfolk, Microsoft, Deutsche Bank, Deutsche, Colgate, Palmolive, China EV, Oracle, Adobe, JPMorgan, United Rentals, Barclays, Netflix, Vail, Exxon, " Bank of America, of America, underperform Bank of America, Bank of America, 3M, Citi, AT, Unilever

☆ MIB Securities: We like Xiaomi for its smartphone and EV businesses
▼ + stars: | 2024-06-06 | 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 EmailMIB Securities: We like Xiaomi for its smartphone and EV businessesSonija Li of MIB Securities Hong Kong explains why she likes Xiaomi.

Persons: Li, MIB Securities Hong Kong Organizations: MIB Securities, MIB Securities Hong

☆ Flying taxis are closer than ever to reality. The booming industry needs to overcome infrastructure hurdles.
▼ + stars: | 2024-06-06 | by ( Taylor Rains | ) www.businessinsider.com time to read: +9 min

One expert said eVTOLs fly at low altitudes and could create airspace and security challenges. The US's first electric vertical-takeoff and -landing aircraft are expected to fly commercial passengers as soon as 2025. It still needs further approvals to fly for airlines like United, but the latest certificate puts it one step closer. Archer's Midnight aircraft are typically shorter range, with the Midnight flying up to 100 miles on one charge. Joby plans to use the four urban vertiports as a citywide commercial eVTOL air link around Dubai.

Persons: eVTOLs, —, Archer, Bryan Bernhard, Bernhard, Archer's, Pete Syme, Henry Harteveldt, Joby, Rani Plaut, Harteveldt, Bernard, Archer Aviation's, Archer Aviation Bernhard Organizations: Infrastructure, Service, Royal Aeronautical Society, American Airlines, United Airlines, Virgin Atlantic Airways, US Air Force, JPMorgan, Newark Liberty International, O'Hare International, Archer, Midnight, Joby Aviation, FAA, NASA, Joby, Air, Delta Air Lines, Federal Aviation, Archer Aviation Locations: Manhattan, New Jersey, Chicago's, Henry, Dubai, Japan, New York City, San Francisco, Washington, London, Paris

☆ Here are Thursday's biggest analyst calls: Apple, Nvidia, Tesla, Netflix, Alphabet, United, JPMorgan, Carvana, Broadcom & more
▼ + stars: | 2024-06-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs reiterates Nvidia as buy Goldman said it's sticking with its buy rating on the stock. JPMorgan upgrades StoneCo to overweight from neutral JPMorgan said in its upgrade of the fintech solutions company that it has "appealing" potential for earnings growth. Morgan Stanley reiterates JPMorgan as overweight Morgan Stanley said it's even more bullish on the stock after a meeting with company management. " JPMorgan reiterates Alphabet as overweight JPMorgan said the company is on the "offensive in Gen AI." JPMorgan reiterates Broadcom as overweight The firm said it's sticking with its overweight rating on shares of Broadcom.

Persons: Morgan Stanley, Tesla, Oppenheimer, DA Davidson, Davidson, Goldman Sachs, Goldman, Bernstein, FANG, Redburn, it's bullish, osteogenesis, it's, Robinson, JPMorgan, Disney, Evercore, Moffett, Carvana Organizations: Walmart, Apple, company's, Conference, Nvidia, Energy, Midland shaleco, Endeavor Energy Resources, Airlines, United, Citi, eBay, JPMorgan, BMO, UBS, Mizuho, SEE, P Containers, Deutsche Bank, Deutsche, Google, Jefferies, DFS, Disney, Netflix, CTV, Broadcom Locations: China, Midland, Rocklin

☆ EV slump, Hertz fire sale take used Teslas to 'no haggle' $25,000 price
▼ + stars: | 2024-06-06 | by ( Bob Woods | ) www.cnbc.com time to read: +10 min

Also, some used EVs are eligible for up to $4,000 in federal tax credits , and several states offer tax credits or rebates. Although as with buying any used car — from manufacturers and independent dealers, online marketplaces or private owners — there are pros and cons. The Hertz Car Sales website "Shop EVs" button recently listed 1,475 of the 1,638 used EVs listed as "Hertz Certified." A March study by automotive research firm iSeeCars found that the average used car price was down 3.6% from last year, though used EV prices had plummeted 31.8%, equating to $14,418 in value. A follow-up question — "Can you tell me about 2022 Tesla Model 3s being sold by Hertz Car Sales?"

Persons: Hertz, —, iSeeCars, Elon, Karl Brauer, Brauer, Yossi Levi, Guy, Tesla, Carvana, Edmunds, ChatGPT, Hertz's, Matt Quinn, CarGurus, Eugene Park Organizations: Hertz, EV, Hertz Global Holdings, U.S, Bolts, Car, Hertz Tesla, Tesla, ChatGPT, Hertz Car Locations: U.S, Massachusetts, Colorado, Edmunds, CarGurus

☆ Virginia Gov. Glenn Youngkin talks dropping EV mandate in his state
▼ + stars: | 2024-06-05 | 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 EmailVirginia Gov. Glenn Youngkin talks dropping EV mandate in his stateHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Glenn Youngkin, Brian Sullivan, “ Organizations: Virginia, CNBC

☆ These are the states where it may be hardest to buy an EV
▼ + stars: | 2024-06-05 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

Buying an EV may be more difficult in some states than others. Dealers in some rural states have limited supplies of electric cars, data from CarGurus has shown. The data included EVs in dealerships, but not those sold directly to customers, like Teslas. AdvertisementBuying an EV is more difficult in some states than others, new data has suggested. Data from car-listing platform CarGurus shows that over one-third of new electric vehicles are going to California, Texas, and Florida.

Persons: — Organizations: Dealers, Service Locations: CarGurus, California , Texas, Florida

☆ Here are Wednesday's biggest analyst calls: Apple, Nvidia, Amazon, Meta, Uber, Disney, Coinbase, Tesla & more
▼ + stars: | 2024-06-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating heading into the June 13 shareholder meeting. Bank of America reiterates Nvidia as buy Bank of America said it's sticking with its buy rating on shares of Nvidia . "We initiate coverage on Jazz Pharmaceuticals (JAZZ) with a Buy rating and 12-month price target of $169." Needham reiterates Coinbase as buy Needham said it's sticking with its buy rating on Coinbase . "We are initiating coverage of LFMD with an Overweight rating and $12 price target."

Persons: it's, ODFL, Morgan Stanley, Tesla, Elon, Gordon, Gordon Haskett, Oppenheimer, Uber, Guggenheim, Goldman, Bernstein, Needham, Coinbase, Raymond James, Meta, Key Organizations: BMO, Dominion, Bank of America, Nvidia, Barclays, Taiwan Semiconductor, Boston Beer, Materials, Applied Materials, JPMorgan, Citi, Apple, Apple's Worldwide, Conference, Disney, Walt Disney, Jazz Pharmaceuticals, EV, Meta, HSBC Locations: TSMC, China, U.S, CY25

☆ Expect negative revisions from Tesla, says Barclays' Dan Levy
▼ + stars: | 2024-06-05 | 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 EmailExpect negative revisions from Tesla, says Barclays' Dan LevyDan Levy, senior autos analyst at Barclays, joins 'Power Lunch' to discuss whether he's seeing signs of an early EV winter and what impact regulations could have on the vehicles.

Persons: Tesla, Dan Levy Dan Levy Organizations: Barclays

☆ The best-performing EV stock this year is a school bus manufacturer
▼ + stars: | 2024-06-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The bus manufacturer has seen a boom in its EV bus business thanks to a $5 billion government program. AdvertisementThe school bus manufacturer sold a record 210 electric school buses in the quarter and said it had an order backlog of about 500 electric buses, with bookings soaring 56% from the year-ago period. Helping fuel Blue Bird's EV school bus business is the US Environmental Protection Agency's Clean School Bus Program, which was established in the 2021 Bipartisan Infrastructure Law and provides $5 billion in funding to replace diesel school buses with electrified buses. AdvertisementAccording to research from Barclays, an electric school bus can sell for more than $300,000 compared to just $100,000 for traditional school buses. "EV school bus growth is in the early innings.

Persons: —, Blue Bird, Phil Horlock, Needham, Chris Pierce Organizations: Bird Corp, EV, Service, Blue Bird Corp, YCharts, School Bus Program, Law, Barclays, Bird

☆ Elon Musk diverting Nvidia chips from Tesla to X shows the EV maker is not his priority, longtime Tesla investor Ross Gerber says
▼ + stars: | 2024-06-05 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

CNBC reported that Elon Musk diverted Nvidia chips bound for Tesla to X and xAI. Longtime Tesla investor Ross Gerber said the move shows the EV maker is not Musk's priority. AdvertisementTesla isn't at the top of Elon Musk's list of priorities, according to longtime investor Ross Gerber. Musk confirmed the decision in a recent post on X, adding that Tesla "had no place to send the Nvidia chips to turn them on." As an investor, I've done what I've needed to do and I've had to sell a lot of my Tesla stock.

Persons: Elon, Tesla, Ross Gerber, —, Gerber, Musk, I've, Ron Baron Organizations: CNBC, Nvidia, Service, Elon, Twitter, Tesla, Musk's, EV Locations: Tesla, Texas, Austin

☆ CNBC Daily Open: Roaring Kitty's wealth, Modi's victory
▼ + stars: | 2024-06-05 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

The S&P 500 inched up 0.15% and the Nasdaq Composite did marginally better, up 0.17%. Bath & Body Works was the worst-performing stock on the S&P 500, plunging almost 13% on disappointing guidance. With his 5 million shares of GameStop, if he were to exercise his 120,000 call options at $20 apiece, that would give him an additional 12 million shares — making him the fourth-largest shareholder in the games retailer. [PRO] June highThe S&P 500 will rally to fresh all-time high of 5,500 by the end this month, according to Fundstrat Global Advisors' Tom Lee. With the S&P 500 finishing Monday's trading session at 5,283.40 the forecast calls for upside of 4%.

Persons: Modi, Narendra Modi, Modi's, Keith Gill, Gill, Elon Musk, Tesla, Musk, Tom Lee, CNBC's Pia Singh, what's Organizations: CNBC, Dow Jones, Nasdaq, Body, Treasury, Bharatiya Janata Party, BJP, National Democratic Alliance, GameStop, Nvidia, Federal Reserve, Fundstrat Global Locations: Tesla

☆ Ron Baron says he can't put a top on how much money Tesla will make him because of robotics future
▼ + stars: | 2024-06-05 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Ron Baron, a longtime Tesla champion, believes the electric vehicle's robotics business will be hugely profitable and it's not yet priced in the stock. Tesla is in the middle of developing autonomous vehicles and humanoid robots with CEO Elon Musk 's vision to make his firm "a leader in AI & robotics." "We're going to get charged every year for software, for using your robot, it's going to keep getting better and better and better," Baron said. Robotics, you're going to be a really big deal for Tesla. Tesla is the biggest holding in Baron's oldest and biggest fund, Baron Partners Fund (BPTIX), accounting for nearly 30% of the portfolio.

Persons: Ron Baron, Tesla, Elon Musk, Musk, Baron Organizations: Baron Capital, EV, Robotics, Tesla, Baron Partners Fund Locations: Baron's

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