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☆ GM ditching 'Ultium' name for batteries, tech amid EV changes
▼ + stars: | 2024-10-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

General Motors revealed its all-new modular platform and battery system, Ultium, on March 4, 2020 at its Tech Center campus in Warren, Michigan. DETROIT — General Motors will drop the name "Ultium" for its electric vehicle batteries and supporting technologies after spending years promoting the brand as it rethinks its EV and battery operations. The Detroit automaker confirmed the switch Tuesday ahead of an investor event in which GM is expected to discuss the change. The change comes after GM spent billions of dollars to develop in-house "Ultium" batteries and technologies that the automaker previously touted as "revolutionary" and the ultimate technologies to be able to build a profitable EV business. The company said the batteries and the technologies will remain, but the name "Ultium" will not other than production operations such as its "Ultium Cells" joint venture plants with LG Energy Solution.

Persons: EVs, JP Clausen, Kurt Kelty Organizations: Motors, Tech Center, DETROIT —, Detroit automaker, GM, LG Energy, Tesla Locations: Warren , Michigan, DETROIT, North America

☆ General Motors 'has some work to do' when it comes to EV sales: Fmr. Tesla Board Member Steve Westly
▼ + stars: | 2024-10-08 | 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 EmailGeneral Motors 'has some work to do' when it comes to EV sales: Fmr. Tesla Board Member Steve WestlySteve Westly, former Tesla board member and The Westly Group founder, joins 'Closing Bell Overtime' to talk General Motors' EV plans, Tesla's upcoming robotaxi event, and more.

Persons: Steve Westly Steve Westly Organizations: General, Westly, EV

☆ Deloitte feels the wrath of Trump world over leaked JD Vance messages
▼ + stars: | 2024-10-08 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

CNN —Trump allies are calling for the federal government to punish Deloitte after an employee at the consulting firm apparently shared his private messages with JD Vance. The Post did not reveal who corresponded with Vance, now Trump’s running mate, and leaked those communications. “Maybe it’s time for the GOP to end Deloitte’s taxpayer funded gravy train?” Trump Jr. wrote on X, noting that Deloitte receives billions of dollars in government contracts. Trump Jr. told CNN he was speaking his mind as a private citizen. Neither Trump nor Vance have publicly threatened Deloitte, and it’s worth noting that Trump Jr. has indicated he does not plan to serve in the federal government.

Persons: CNN —, JD Vance, Donald Trump, Trump, Vance, Donald Trump Jr, ” Trump, Jason Miller, Trump Jr, “, ”, Kamala Harris, ” “, GOP Sen, Eric Schmitt, he’s, ” Jeffrey Sonnenfeld, John Deere, Davidson, ” “ Donald Trump, ” Richard Painter, George W, Bush, ” Painter, Painter, MAGA, Jonathan Gandal, Yale’s, ” Norman Eisen, it’s, ” Eisen Organizations: CNN, CNN — Trump, Deloitte, Washington Post, GOP, Trump, Department of Defense, Internal Revenue Service, Department of Homeland Security, Trump Jr, White, Yale, Leadership, Department, Google, Apple, Harley, US Postal Service, Motors, University of Minnesota, ”, ” Trump Jr, Post, Wall Street, ” “ Deloitte, “ Deloitte, Brookings Institution, DOJ

☆ GM investor day: Key insights to expect from the automaker
▼ + stars: | 2024-10-08 | 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 EmailGM investor day: Key insights to expect from the automakerCNBC’s Phil LeBeau joins ‘Squawk Box’ to report on General Motors as the automaker will address investor concerns at its capital markets day Tuesday, held at its vehicle and battery plants in Spring Hill, Tennessee.

Persons: Phil LeBeau Organizations: General Motors Locations: Spring Hill , Tennessee

☆ GM expects 2025 earnings to be similar to this year's despite industry headwinds
▼ + stars: | 2024-10-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

DETROIT — General Motors expects its 2025 adjusted earnings to be in a "similar range" to the company's results this year, CFO Paul Jacobson said Tuesday during the company's investor day. Achieving its 2024 targets as well as similar earnings next year would be quite an accomplishment. Jacobson declined to provide specific financial targets until the company formally releases its 2025 financial guidance early next year. GM's 2024 financial guidance includes anticipated capital spending of between $10.5 billion and $11.5 billion. Other than the financial targets for 2025, the automaker provided few significant updates at its investor day.

Persons: Paul Jacobson, Jacobson, Mary Barra Organizations: GMC, DETROIT —, Motors, Detroit, Auto, GM, North America, Wall Street Locations: Richmond , California, DETROIT, North

☆ GM investor day: Cruise, cash and EV profits top of mind for Wall Street
▼ + stars: | 2024-10-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — A lot has changed since General Motors' last investor day two years ago, but one thing that hasn't is the automaker's ability to outperform Wall Street's expectations — doing so every quarter since then. "Accordingly, whereas the theme for GM three years ago was "Growth Motors," we believe the theme today is "praGMatic Motors." To underscore that effort, the event is taking place GM's vehicle assembly and Ultium EV battery plants in Tennessee. Barra and other executives have stressed such a dual strategy since lowering or withdrawing nearly all of the company's EV targets amid slower than expected adoption of electric vehicles. "We are making the most of every opportunity we have in ICE and in EV and leveraging our core strengths," Barra said during the company's second-quarter investor call in July.

Persons: Mary Barra, General Motors, Dan Levy, Barra Organizations: General Motors Co, DETROIT, General, Wall Street, GM, Barclays, Spring, Spring Hill Assembly, ICE, EV Locations: Detroit , Michigan, China, Barra, Tennessee, Spring Hill

☆ Cheap stocks to buy in the fourth quarter, according to HSBC
▼ + stars: | 2024-10-05 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

It's officially a new trading month, and HSBC recommends investors broaden their exposure in the fourth quarter by seeking out stocks with more reasonable valuations. "These 'big' companies represent the lion's share of equity index returns year to date." HSBC has a buy rating on the stock. In all, 16 of the 29 analysts covering GM have a strong buy or buy rating, and its average price target of $54.35 implies nearly 19% upside from Friday's close, per LSEG. The remaining 11 have a buy or strong buy rating.

Persons: It's, Nicole Inui, General Motors, Goldman Sachs, Goldman Organizations: HSBC, Dow, Industrial, Nasdaq, Federal Reserve, General, GM, Pharmaceutical, Pfizer, Delta Air Lines Locations: Americas, U.S

☆ GM halts production at two major U.S. plants due to Hurricane Helene
▼ + stars: | 2024-10-04 | by ( Michael Wayland | ) www.nbcnews.com time to read: +2 min

DETROIT — General Motors has temporarily halted vehicle production at two U.S. factories that assemble highly profitable large pickups and SUVs due to impacts to suppliers as a result of Hurricane Helene. A GM spokeswoman declined to speculate on when the plants were expected to restart production as of Friday morning. A Thursday message to workers in Arlington viewed by CNBC said production at that plant was expected to resume Monday. Hurricane Helene made landfall in Florida late last week and hit the southeastern United States and parts of western North Carolina particularly hard. Jeffrey Morrison, GM vice president of global purchasing and supply chain, on Thursday said the hurricane and the port workers strike were disruptive events for the automaker.

Persons: Hurricane Helene, “, Jeffrey Morrison, dockworkers, Morrison, “ Covid, Jesse Jackson’s, We’ve, ” Morrison Organizations: DETROIT, Motors, Arlington Assembly, Chevrolet, Cadillac, GMC Yukon, CNBC, Coalition, “ Locations: Hurricane, Flint , Michigan, Texas, Arlington, Florida, United States, North Carolina, Detroit

☆ Rio Tinto in talks to buy lithium miner Arcadium, sources tell Reuters
▼ + stars: | 2024-10-04 | by ( ) www.cnbc.com time to read: +3 min

Jakob Stausholm, chief executive officer of Rio Tinto Ltd., during a Bloomberg Television interview in New York, US, on Thursday, Sept. 26, 2024. Rio Tinto has been holding talks to buy lithium miner Arcadium , three sources with direct knowledge of the negotiations said, a deal that would make Rio the third-largest producer of the electric vehicle battery metal. An offer is expected to come in the near future, according to the second source. Arcadium and Rio Tinto declined to comment. Arcadium believes it is unlikely Rio will ever be able to develop the Serbian project, the second source said.

Persons: Jakob Stausholm, Arcadium, Rio Organizations: Rio Tinto Ltd, Bloomberg Television, Rio Tinto, Rio, Tesla, BMW, General Motors, U.S, Local Locations: Rio, New York, London, Philadelphia, Albemarle, SQM, Asia, Serbia, Belgrade, Serbian, Argentina

☆ Jim Cramer's week ahead: CPI data and earnings from Delta, Domino's and major banks
▼ + stars: | 2024-10-04 | by ( Julie Coleman | ) www.cnbc.com time to read: +3 min

CNBC's Jim Cramer reviewed next week's top market-moving action, highlighting new consumer price index data and a slew of earnings reports as the season begins, including ones from Delta , Domino's and several major banks. The labor department will release September's CPI report on Thursday, and Cramer said investors who want a rate cut are hoping for a cool number. Friday brings the producer price index report, and like the CPI, this data will be a metric for the Fed's next decision, Cramer said. Big ticket financial earnings will also come out that day, including Wells Fargo , JPMorgan and Blackrock . He said banks represent the least expensive group on the market, and investors should use any weakness to buy them.

Persons: CNBC's Jim Cramer, Cramer, he's, Delta, Tesla Organizations: Wall, PepsiCo, General Motors, Federal, Big Tech, AMD, HP Enterprise, Big, JPMorgan, Blackrock Locations: Delta, Domino's, Wells Fargo

☆ From Walmart and Ikea to Heineken, here are the companies whose imports may be most impacted by the port strike
▼ + stars: | 2024-10-03 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

The port workers' strike could disrupt business for big retailers, according to ImportGenius data. Walmart, Ikea and Samsung are some of the biggest importers at ports affected, the data show. JPMorgan predicted the strike could cost the US up to $5 billion daily. AdvertisementMajor retailers are pivoting their shipping plans and preparing for the financial impact of the ongoing port strike. The chart doesn't include data from shipping companies that handle cargo from multiple businesses or anonymous shipments.

Persons: —, Alan Murphy, William George, General Motors, Jess Dankert, Dankert Organizations: Walmart, Ikea, Samsung, JPMorgan, Service, Intelligence, CNBC, Research, Arbor Research, Lading, Customs, Business, General, Home, Retail Industry, Association, International Longshoremen's Locations: Gulf Coast, ImportGenius, West, Maine, Texas

☆ Tesla stock slips after EV maker misses estimates on deliveries
▼ + stars: | 2024-10-02 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

In the year-ago period , Tesla reported 435,059 deliveries and production of 430,488 EVs. Last quarter, the company reported 443,956 deliveries, and production of 410,831 vehicles. Deliveries are not defined in Tesla's financial disclosures, but are the closest approximation to units sold reported by the company. Analysts were expecting deliveries of 463,310 in the period ended Sept. 30, according to estimates compiled by FactSet StreetAccount. Tesla posted its third-quarter vehicle production and deliveries report on Wednesday.

Persons: Tesla, Li Auto, FactSet StreetAccount, Ford, Tesla hasn't, Elon Musk, Donald Trump, Musk Organizations: Li, Tesla, EV, Ford, General Motors, GM, Nasdaq, Hyundai Locations: China, Seattle , Washington, US, U.S

☆ Tesla posts first sales gain of the year
▼ + stars: | 2024-10-02 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Tesla reported an increase in sales for the first time this year, although its year-to-date sales still trail the same period of 2023. But GM still had only a fraction of Tesla’s sales, with US EV sales coming in at 32,000 vehicles. Tesla doesn’t break out sales by market so it’s precise US sales are not known. During this latest quarter, Tesla stayed ahead of Chinese automaker BYD, which briefly passed Tesla in worldwide EV sales last year. BYD reported global third quarter battery electric sales of 313,000, and year-to-date sales of 1.2 million EVs.

Persons: New York CNN — Tesla, Tesla, BYD Organizations: New, New York CNN, General Motors, GM, US, ’, BYD, Tesla Locations: New York, Europe

☆ Ford's third-quarter sales up 0.7% as GM overtakes it in EVs
▼ + stars: | 2024-10-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

A banner advertises the Ford Mustang Mach-E electric vehicle at a Ford dealership on August 21, 2024 in Glendale, California. DETROIT – Ford Motor lost its lead in electric vehicle sales to crosstown rival General Motors during the third quarter, as the automaker's EV growth slowed. Ford on Wednesday reported a 0.7% increase in third-quarter U.S. new vehicle sales, including a 12.2% increase in EVs compared with a year earlier. The third-quarter results for Ford contributed to a 45% increase in EV sales this year through September to 67,689 units. The South Korean automaker remains a distant second in U.S. EV sales to market leader Tesla .

Persons: Ford, Tesla Organizations: Ford, Ford Motor, Motors, GM, Hyundai, Kia, South Korean Locations: Glendale , California, DETROIT, EVs, U.S

☆ GM reports 2.2% decrease in third-quarter sales, but EVs make gains
▼ + stars: | 2024-10-01 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Increases in sales of electric vehicles and small crossovers helped General Motors report slightly better-than-expected sales during the third quarter. The Detroit automaker reported a 2.2% drop in third-quarter sales compared with a year earlier, slipping to 659,601 vehicles sold. GM's third-quarter sales are expected to be in line with the overall industry. Cox Automotive and Edmunds project third-quarter sales industrywide will be down roughly 2% compared to a year earlier. Still, EVs made up only 4.9% of the company's total third-quarter sales.

Persons: Edmunds, EVs, Rory Harvey Organizations: Motors, Detroit, Auto, Cox Automotive, GM, CNBC, Chevrolet Trax, Buick Locations: Detroit, DETROIT, North America, U.S

☆ Nike's new CEO started as an intern—what you can learn, from a leadership expert: 'There's something in the water here that everyone can drink'
▼ + stars: | 2024-10-01 | by ( Ashton Jackson | ) www.cnbc.com time to read: +1 min

Hill, 60, was named Nike's new CEO on September 19. He has worked in the company since the late 80s, aside from the last four years, which he spent retired. From there, he moved up in the ranks about every two years on average, from management to director to vice president. Still, if you ask Rohan Verma, a San Francisco-based executive coach and former senior executive at LinkedIn, it's doable. General Motors' CEO Mary Barra, Walmart's CEO Doug McMillon and Costco's CEO Ron Vachris each moved their way up from entry-level positions, Verma points out.

Persons: It's, Elliott Hill, Hill, Rohan Verma, it's, he's, Verma, Mary Barra, Doug McMillon, Ron Vachris Organizations: Nike, LinkedIn, CNBC, General Motors Locations: San Francisco

☆ Calls of the Day: General Motors, GE Healthcare, Thermo Fisher, HealthEquity, Carmax and SharkNinja
▼ + stars: | 2024-10-01 | 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 EmailCalls of the Day: General Motors, GE Healthcare, Thermo Fisher, HealthEquity, Carmax and SharkNinjaThe Investment Committee debate the latest Calls Of The Day and Jim Lebenthal responds to Sarat Sethi selling out of General Motors

Persons: Jim Lebenthal, Sarat Sethi Organizations: General Motors, GE Healthcare, General

☆ EchoStar to sell Dish to DirecTV, combining major pay-TV providers
▼ + stars: | 2024-09-30 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +3 min

EchoStar is selling its Dish TV provider and digital business Sling to rival DirecTV in a deal announced Monday that brings together two of the largest pay-TV providers. Combined, DirecTV and Dish will serve close to 20 million customers, according to Reuters. The content distribution industry as a whole has been on a major decline, Akhavan said, and distribution companies such as Dish and DirecTV have fallen behind other platforms with newer technologies and wider reach. Also on Monday, AT&T announced it would sell its entire 70% stake in DirecTV to private equity firm TPG for $7.9 billion. The possibility of a merger between Dish and DirecTV has been rumored for decades.

Persons: Hamid Akhavan, CNBC's, Akhavan, EchoStar, — CNBC's Lillian Rizzo, Alex Sherman Organizations: DirecTV, Dish, Reuters, T, TPG, General Motors, Hughes Electronics, Federal Communications Commission, Rupert Murdoch's News Corporation

☆ Jim Cramer sees Abbott becoming a buying opportunity — but says timing is key
▼ + stars: | 2024-09-30 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. A lower S & P 500 close Monday might break the Oscillator's overbrought streak of nine trading days. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, we've, Jim, Louis, Abbott, St . Louis, Stocks, Jim Cramer's, ABT Organizations: CNBC, Wall, Nasdaq, Dow, Abbott Laboratories, JPMorgan, CVS Health, Ford, General Motors, PayPal Locations: St, St .

New York CNN —DirecTV announced Monday it’s buying rival Dish Network, ending multiple decades of on-and-off talks about the satellite services merging. The agreement provides DirecTV and Dish with greater scale, a DirecTV spokesperson told CNN. The newly merged DirecTV-Dish entity will continue to support the Dish brand for the foreseeable future, the DirecTV spokesperson said. DirecTV does not currently have plans to make changes to the existing Dish or Sling TV brands, meaning that current Dish customers should not be concerned about being forced over to DirecTV. The deal also strengthens the duo’s foothold in the industry, allowing them to more easily compete with pay TV rivals and streaming services.

Persons: Charlie Ergen, Mike White, Echostar, Hughes, ’ Organizations: New, New York CNN, DirecTV, Dish Network, Netflix, Hulu, Amazon’s, Dish, ”, TPG, T, CNN, Disney, Hughes Electronics, EchoStar Corporation, Bloomberg, General Motors, Monday, Antitrust Locations: New York

☆ Trump threatened John Deere. It’s just his latest attempt to bully a legendary American company
▼ + stars: | 2024-09-29 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

Trump, more so than any American president in modern history, has directly targeted individual US businesses, threatening them with everything from boycotts and canceled federal contracts to unthinkably high tariffs. Deere, the farm equipment maker founded nearly 200 years ago, became just the latest storied brand to get singled out by Trump. Bigger picture, the attack on Deere fits a broader pattern of Trump bullying companies when it suits him. “John Deere is an outstanding company. “Ultimately, it would lead to fewer sales, less revenue, less growth and fewer employees for John Deere,” said McDaniel, now a senior research fellow at George Mason University’s Mercatus Center.

Persons: New York CNN —, John Deere, they’ve, Donald Trump, Trump, “ Trump, Bill George, “, Nordstrom, Ken Frazier, Donald J, Trump’s, Julian Zelizer, Harry Truman, John F, Kennedy, Teddy Roosevelt, ”, Zelizer, ” Zelizer, ’ Trump, “ I’m, we’ll, ” Trump, George, “ John Deere, ” Christine McDaniel, George W, Bush, Deere, McDaniel, George Mason University’s, Billionaire Mark Cuban, Kamala Harris, Washington, Mary Lovely, ” Lovely Organizations: New, New York CNN, New York CNN — Apple, General Motors, Facebook, Trump, Deere, CNN, White, Apple, San Bernardino, FBI, US Postal Service, Boeing, Air Force, Motors, Merck, Meta, CNBC, Google, Princeton University, Harvard University, Center, Billionaire, Fox News, Street Journal, Peterson Institute for International Economics Locations: New York, Midwest, Mexico, San, Charlottesville , Virginia, United States, Pennsylvania, American, North America, Canada

☆ As ports strike nears, union warns that companies like Walmart, Ikea and Home Depot will be left with few to no import options
▼ + stars: | 2024-09-27 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

These companies are among the leading importers at the 14 major ports that an ILA strike would impact, according to ImportGenius. Out of the 85,000 members, 50,000 would go on strike at the 14 ports that are subject to a master contract that has not been negotiated. Separately, the Port of Montreal union affiliated with the Canadian Union of Public Employees issued a 72-hour notice that its own three-day strike starts on Monday, Sept. 30. Robinson, tells CNBC this strike could exacerbate the U.S. port strike disruption. "We'll shut them down," Daggett said in a recent video message to union members.

Persons: ImportGenius, Peter Sand, James McNamara, Mia Ginter, Robinson, Ginter, Harold Daggett, Daggett, William George, Biden, Taft, Hartley, USMX, McNamara, Maersk Organizations: International Longshoremen's Association, LG Electronics, Walmart, Ikea, Samsung, ILA, Cruise, Brothers, Port, Canadian Union of Public Employees, CNBC, U.S, Home Depot, Hyundai, General Motors, Dollar, . Tire, Michelin, Goodyear, Continental Tire, Glovis, Samsung Electronics, IKEA, US Maritime Alliance, NLRB, Reuters, Biden, Georgia Ports Authority, U.S ., Gulf, Mitre Locations: East Coast, Gulf Coast, Canada, West Coast, West, Coast, Great Lakes, Montreal, C.H, Port of Montreal, of Los Angeles, Lading, New York, New Jersey, Baltimore, Savannah, Houston , North Carolina, South Carolina, Virginia, New Orleans, Glovis America, In Savannah, Georgia, South, America, Newark, Maine, Texas, Boston , New York, Philadelphia, Wilmington, Norfolk, Charleston, Jacksonville, Tampa , Miami , New Orleans, Mobile, Houston, Gulf, NY, NJ, U.S . East Coast, Port of New York

Donald Trump narrowly captured each on his way to collapsing the Democrats’ vaunted “blue wall” in 2016. Wages going up. Wages going up. I talk to my friends, ‘Your wages going up?’ No. The pandemic-era stimulus checks, which Trump made a point of putting his name on, also come up regularly.

Persons: Hurley Coleman III, ’ ”, Phil Kerner’s, us, ” Kerner, ”, Barack Obama, Donald Trump, Joe Biden, ” Coleman, Kamala Harris, Hurley Coleman, Coleman, “, ” Hurley Coleman Jr, –, Phil Kerner, hasn’t, Edward, he’s, Kerner, George W, Bush, Guy, “ I’m, CNN –, CNN ‘, Trump ’ Kerner, I’m, “ It’s, Hurley Coleman Jr, Harris, HJ, He’s, Trump, Biden, that’s Organizations: CNN, Trump, General Motors, GM, of God, atrophied, Phil Kerner CNN, Republican, Democratic National Convention Locations: Saginaw , Michigan, Pennsylvania, Erie, Central Michigan, Erie , Pennsylvania, Saginaw

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Disney, Ford, General Motors, Duolingo, Roblox, Alphabet & more
▼ + stars: | 2024-09-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Wells Fargo upgrades Baker Hughes to overweight from equal weight Wells says it likes the oil service company's business model. Morgan Stanley upgrades AutoNation to overweight from equal weight Morgan Stanley says AutoNation is well positioned in a bumpy macroeconomic environment. Morgan Stanley reiterates Apple as overweight Morgan Stanley says it's remaining cautious after checks of iPhone 16 demand for Apple. Morgan Stanley downgrades Ford to equal weight from overweight and General Motors to underweight from equal weight Morgan Stanley downgraded several automakers on Wednesday and said it's concerned about market share losses. Morgan Stanley reiterates Nike as equal weight Morgan Stanley raised its price target on Nike to $82 per share from $79 ahead of earnings on October 1.

Persons: Wolfe, Sallie Mae, it's bullish, Wells, Baker Hughes, Piper Sandler, Tesla, Piper, Morgan Stanley, AutoNation, Mike Manley, Duolingo, MARA, CORZ, Piper Sandler downgrades Tyson, it's, Oppenheimer, GOOG's, Baird, Locker Baird, Apple, TD Cowen downgrades Expedia, Cowen, Goldman Sachs, Goldman, Morgan Stanley downgrades Ford, Roblox Organizations: APO, Bank of America, Macquarie, Tyson Foods, Barclays, Hewlett Packard Enterprise, DOJ, Google, Foot, Apple, ISI downgrades, Pacific, Evercore, UNP, Disney, JPMorgan, Oil & Gas, Petrobras, Motors, GM, Citi, Investors, Nike Locations: CLSK, Foot Locker, Mexico, China, Fortnite

☆ Morgan Stanley’s Jonas downgrades Ford and GM, citing China competition, problems with U.S. consumer
▼ + stars: | 2024-09-25 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

GM was lowered to underweight from equal weight, with the price target cut to $42 from $47. Additionally, Jonas lowered his rating on EV maker Rivian to equal weight from overweight, cutting his price target to $13 from $16. F GM 5D mountain F and GM fall Ford Motor shares have struggled in 2024, losing more than 10%. These headwinds, coupled with "peak earnings" and electric vehicle and regulatory risks, will also send GM shares lower. On Rivian, Jonas said, "The downgrade reflects our incorporation of the capital intensity of [autonomous vehicles] which may be required to fulfill the technological underpinnings that attracted Volkswagen as a JV partner."

Persons: Morgan Stanley's Adam Jonas, Ford, Jonas, Rivian Organizations: U.S, Ford Motor, General Motors, GM, Rivian, Ford, Volkswagen, Magna International, Federal Locations: China

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