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☆ BMW, Mercedes launch biggest EV push yet to catch Tesla with new models
▼ + stars: | 2023-09-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

BMWMUNICH, Germany — BMW and Mercedes are making their biggest push yet into electric cars in a bid to fend off rising competition from Chinese players and catch up with U.S. giant Tesla . On Saturday, rival BMW showed off the "Vision Neue Klasse," another electric concept car that highlights the company's EV ambitions. This is the companies' biggest push yet toward a new platform for the electric vehicle era. Tesla commanded 20% of the global EV market in the second quarter, followed by 15% for BYD, according to Counterpoint Research. GTI Concept electric vehicle at the IAA show, and said a production version of the car is scheduled to hit the road in 2027.

Persons: Warren Buffett, BYD, Elon Musk's Tesla, Mercedes, Ola Kallenius, Kallenius, CNBC's Annette Weisbach, Oliver Zipse, CNBC's Arabile, Zipse, Daniel Roeska, Roeska, Tesla Organizations: BMW, IAA, BMW MUNICH, Mercedes, IAA Mobility, Benz, Analysts, Bernstein Research, CNBC, Tesla, BYD, Research, U.S ., EV, Volkswagen Locations: Munich, Germany, Tesla, China

☆ September to remember or to forget? Here are things working for and against the stock market
▼ + stars: | 2023-09-04 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

I never like higher rates at any end of the curve. At every benchmark, you will first hear that every bull market ends because of higher rates. We have done well in the stock market at 7% on the 20-year and well at half that. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Shawn Fain, Fain, He's, haven't, Tesla, —, Mike Wilsons, Mike Wilson, Morgan Stanley's, Here's, it's, there's, that's, Jim Cramer's, Jim Cramer, Jim, Jim Cramer Rob Kim Organizations: Companies, Federal Reserve, Big, ARM Holdings, Club, MarketEdge, United Auto Workers, UAW, Ford, ARM, American Free Trade, Netflix, Earth, Apple, Treasury, Fed, CNBC Locations: Mexico, United States, Canada

☆ This outperforming fund offers a socially responsibility way to invest in growth
▼ + stars: | 2023-08-30 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

A Calvert fund is giving investors a sustainable way to play this year's technology rebound. The firm's U.S. Large Cap Growth Responsibility Index (CGJAX) is up 27% this year, rallying in near harmony with growth stocks. 'Consistent approach' Fitting of any growth fund, a handful of large tech names are among the biggest holdings as of June 30, per Morningstar. "This fund still offers a broadly diversified option for investors looking for a balance between ESG and growth stocks," Tran wrote when rating the fund at the end of last year. The fund also benefits from having a more data-driven approach to picking stocks, Huang wrote.

Persons: Calvert, Russell, Morningstar, —, Jade Huang, Huang, Lan Anh Tran, Tran Organizations: Apple, Microsoft, Nvidia, Facebook, Tesla, Nasdaq, Morningstar, Russell, Federal Reserve Locations: Calvert

☆ Xpeng shares drop 7% after the Chinese electric car maker posts a record quarterly loss
▼ + stars: | 2023-08-18 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Xpeng on Friday reported a wider-than-expected loss in the second quarter, sending the Chinese electric car maker's shares down more than 7% in premarket U.S. trade. The net loss was wider than the 2.7 billion yuan ($370.7 million) loss reported in the second quarter of last year. It was also the biggest quarterly loss that Xpeng has posted since going public in August 2020. Here's how Xpeng did against Refinitiv consensus estimates for the second quarter:Net loss: 2.8 billion yuan loss vs. 2.13 billion yuan loss expectedRevenue: 5.06 billion Chinese yuan ($693.7 million) vs. 5.06 billion yuan expected, representing a 31% year-on-year fall. Xpeng's is hoping its latest car — the G6 Ultra Smart Coupe SUV — which was launched at the end of the second quarter, will boost margins.

Persons: Xpeng, Li Auto, Brian Gu Organizations: Guangzhou International Automobile, China Import, Tesla Locations: Guangzhou, Guangdong Province of China, premarket U.S, China

☆ GM blames supplier for slow EV production, says Chevy Bolt EV will live on
▼ + stars: | 2023-07-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Shares of GM were down roughly 4% in morning trading Tuesday despite quarterly results that topped year-ago performance. Analysts during the call questioned the company's pricing strategies, EV profitability guidance and ability to hit previously announced targets for the vehicles. GM produced 50,000 EVs through the first half of this year for North America, in line with internal targets but far slower than many expected. A majority of that production was its outgoing Chevrolet Bolt models, rather than new EVs that utilize the automaker's "Ultium" batteries and technologies. She said GM was "surprised" how little progress the supplier had made.

Persons: Mary Barra, Tesla, Barra, We've Organizations: DETROIT, General, Wall, GM, North, Chevrolet Locations: North America

☆ Wells Fargo raises its price target on Tesla. Here's what the pros are saying
▼ + stars: | 2023-07-17 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from investors and analysts on Tesla . The pros, including Jim Cramer , discussed the electric vehicle maker after Wells Fargo raised its price target to $265 a share from $170. Tesla also tweeted on Saturday that built its long-awaited first Cybertruck at its Texas gigafactory. The stock popped 3.2% on Monday. The company is set to report quarterly earnings on Wednesday.

Persons: Jim Cramer, Wells Fargo, Tesla Organizations: Tesla Locations: Texas

☆ Jim Cramer explains Ford's electric vehicle price cuts
▼ + stars: | 2023-07-17 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Monday analyzed Ford Motor 's move to slash prices for its electric F-150 Lightning pickup truck. Cramer said he thinks the price cuts are due at least in part to the novelty of EVs wearing off for many Americans. It doesn't help, Cramer said, that these cuts come just a few days after Tesla unveiled its first Cybertruck, the optics of which he called "suboptimal." "Ultimately, unless your costs come down — and that's what's happening with Ford — there will be no profit anyway," Cramer said. "But if an auto company doesn't make electric vehicles, that auto company will eventually be doomed, we all know that."

Persons: CNBC's Jim Cramer, Cramer, Ford, Tesla Organizations: CNBC, General, Ford

☆ Cramer gives his "haves" and "have nots" of the earnings season
▼ + stars: | 2023-07-13 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

It's earnings season, and CNBC's Jim Cramer is giving you his list of haves and have nots. On Thursday, Cramer listed the companies and sectors he thinks are currently thriving on the market alongside the ones he believes are not. Many of these companies, Cramer said, are thriving due to their focus on AI, especially Alphabet, Microsoft and Nvidia. Cramer highlighted a few other contenders also doing well in the tech space like Oracle , Salesforce and Adobe . When it comes to the have nots, Cramer pointed to phone companies, specifically AT&T and Verizon .

Persons: Jim Cramer, Cramer, what's, Wynn, Darden, Kohl Organizations: Microsoft, Apple, Meta, Nvidia, Tesla, Adobe, MGM, Verizon, Nordstrom Locations: Chipotle

☆ Cramer says to stick with his 'Magnificent Seven' tech stocks: 'It’s just so darned easy'
▼ + stars: | 2023-07-11 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer opined Tuesday about the value of sticking with his "Magnificent Seven," the seven tech stocks currently leading the market: Apple , Amazon , Alphabet , Meta , Microsoft , Nvidia and Tesla . "It's so aggravating to stand here and tell you to just stick with the 'Magnificent Seven' and friends," Cramer said, adding it's easier to talk about stocks when you're sure the price targets are going higher instead of lower. "It's just so darned easy to bet on the 'Magnificent Seven,' because everything always seems to go right with them," Cramer said. For example, Cramer said, one of Nvidia's models, FourCastNet, can predict high-impact weather models weeks in advance and is 45,000 times faster than current models. "Now, I know that Nvidia's weather forecasting doesn't result in higher earnings per share, at least not anytime soon," Cramer said.

Persons: CNBC's Jim Cramer, Cramer Organizations: Apple, Microsoft, Nvidia, Tesla, Nasdaq, CNBC's Charitable

The S & P 500 is up nearly 14% year to date, putting it on track for its best first-half performance since 2021. In fact, three of the best-performing S & P 500 stocks in the first half rode the wave more than most: Nvidia , Meta Platforms and Tesla . All three stocks have at least doubled year to date, with Nvidia leading the way. The chipmaker is up more than 180% in 2023, while Meta and Tesla are up 137% and 107%, respectively. Nvidia has quickly become an AI darling on Wall Street, with many analysts calling it the best way to gain exposure to the burgeoning trend due to its chips.

Persons: it's, Tesla, Goldman Sachs, Toshiya Hari, Mark Zuckerberg, — CNBC's Michael Bloom Organizations: Federal Reserve, Nvidia, Meta, Street Journal Locations: U.S, China, NVDA

"I decided where the business is, is in space," Mueller said in an interview with CNBC's "Manifest Space" podcast. Mueller started Impulse Space in 2021 and is building space tugs that can move with cargo to different orbits. So far, Impulse Space has raised $30 million in seed funding from investors such as Peter Thiel's Founders Fund and Lux Capital. But that pedigree doesn't mean Impulse is closed off to other startups in the space space – including rocket makers. Earlier this month Vast Space, which is building a commercial space habitat, selected Impulse to develop the Haven-1 Space Station's propulsion system.

Persons: Elon Musk, Tom Mueller, Mueller, Peter Thiel's, Mira, Morgan Brennan, Merlin, Musk Organizations: SpaceX, Fund, Lux Capital, Tesla, PayPal, TRW, CNBC Locations: Haven

☆ Tesla bull Ron Baron sees stock gaining 89% in 2 years. Here's how to play it
▼ + stars: | 2023-06-23 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from an investor and an analyst on Tesla . Dan Ives of Wedbush Securities and investor Ron Baron discussed the electric-vehicle maker after recent downgrades from Barclays and Morgan Stanley . The chairman and CEO of Baron Capital said on CNBC's " Squawk Box" Friday that he sees huge upside for Tesla, predicting the stock will hit $500 in 2025 , a potential gain of 89%. Baron also forecast shares will reach $1,500 in 2030 . Ives added that he sees big potential in the EV giant and artificial intelligence space.

Persons: Dan Ives, Ron Baron, Morgan Stanley, Baron Capital, Baron, Ives Organizations: Tesla, Wedbush Securities, Barclays, Baron

☆ Tesla stock downgraded again. Here's how to trade it now
▼ + stars: | 2023-06-22 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from investors and analysts on Tesla . The experts, including Jim Cramer , discussed the electric-vehicle maker after Morgan Stanley downgraded the stock from overweight to equal weight Thursday . The analyst behind the call, Adam Jonas, thinks the upside from artificial intelligence and excitement around it may be slowing down for Tesla, saying, "while the market may want to dream on the AI theme, we'd prepare to wake up to the sound of a blaring car horn." Despite the downgrade, Jonas raised his price target to $250, still 5.5% below Tesla's Thursday close.

Persons: Jim Cramer, Morgan Stanley, Adam Jonas, Tesla, Jonas Organizations: Tesla

☆ Jim Cramer says he's betting on Ford but still thinks Tesla is a buy
▼ + stars: | 2023-06-20 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer said Tuesday that many on Wall Street have it all wrong when it comes to legacy automaker Ford . "I think there's real value here in Ford, more value than is captured by its $14 share price even with that 4.25% yield," Cramer said. Cramer said he's chosen Ford over Tesla for CNBC's Investing Club because he wants value, and that's what he's seen throughout his visit to the company headquarters in Dearborn, Michigan. For Tesla, Cramer said, Wall Street treats it as a tech company that won't be hit as hard if the broader economy suffers. At these prices, I'll take Ford over Tesla any day, and believe me, I like them both."

Persons: CNBC's Jim Cramer, Ford, Cramer, you've, it's, he's, Tesla Organizations: Ford, CNBC's, Tesla, Federal Reserve Locations: Ford, Dearborn , Michigan, America

☆ Tesla snaps 13-day record-winning streak. Here's what the pros are saying
▼ + stars: | 2023-06-15 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from investors and analysts on Tesla . The experts talked about the electric vehicle maker. Earlier this week, the stock snapped its streak of 13-straight winning days, the longest run in the company's history. Tesla's previous record for such a feat was 11 consecutive positive days in 2021. In addition, RBC Capital Markets raised its price target on the stock to $305 from $212 Thursday.

Organizations: Tesla, RBC Capital Markets

☆ Chinese Tesla rival Xpeng gets approval to roll out driver-assist tech in Beijing
▼ + stars: | 2023-06-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Chinese electric car brand Xpeng announced Thursday it received approval to start rolling out assisted driving tech to users in the nation's capital city of Beijing. It was not immediately clear when the driver-assist tech could be used on all Beijing city streets. Thursday's announcement follows Xpeng's release of urban scenario driver-assist tech for users in Shanghai in March, after an earlier rollout in Shenzhen and Guangzhou. Xpeng is the only automaker in China to offer a similar level of driver-assist technology as Tesla . While Tesla offers assisted driving technology for use on highways, its "Full Self Driving" function for driver-assist on city streets isn't yet available in China.

Persons: Xpeng Organizations: CNBC, Tesla Locations: Beijing, Sanyuanqiao, BEIJING, Shanghai, Shenzhen, Guangzhou, Xpeng, China

☆ Tesla rises for a record 12th straight day. Here's how to play the stock
▼ + stars: | 2023-06-12 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from investors and analysts on Tesla . The experts discussed the electric vehicle maker's 12-day winning streak — its longest ever. On that day, Tesla announced a new deal to allow Ford EV owners access to more than 12,000 of its charging stations in the U.S. and Canada, starting next year. General Motors struck a similar agreement with Tesla last week. Most recently, Wolfe reiterated Tesla as peer perform , but the firm is bullish on the electric vehicle charging opportunity.

Persons: Tesla, General Motors, Wolfe Organizations: Tesla, Ford EV, General Locations: U.S, Canada

☆ Tesla stock pops on partnership with General Motors. Here's what the experts have to say
▼ + stars: | 2023-06-09 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from investors and analysts on Tesla . The experts, including Jim Cramer and Cathie Wood of Ark Invest, discussed the electric vehicle maker as its stock popped 4%. Further, Wedbush added Tesla to its " Best Ideas List ," saying investors "recognize the underlying value in the Tesla EV ecosystem." Last month, Ford also reached an agreement with Tesla on charging station access. Cramer said he thinks Ford is the big winner out of the three automakers involved in the new electric vehicle partnerships.

Persons: Jim Cramer, Cathie, Mary Barra, Elon Musk, Wedbush, Tesla, Ford, Cramer Organizations: Tesla, Ark Invest, General, GM, Charitable Locations: Ark

The S & P 500 is up 1.8% week to date, on pace for a third consecutive week in the green. Cruise companies Royal Caribbean and Norwegian Cruise Line also had a strong week, gaining 7.8% and 9.3%, respectively. The consensus price target for shares implies just 7.2% additional upside, per FactSet data. Another cruise line on the list is Carnival , which saw shares rise 6.7% week to date. Dish could soar an additional 124.1% based off the average price target on shares.

Organizations: Dow Jones Industrial, Nasdaq, Match, Cruise, Royal, Royal Caribbean, Dish, Bloomberg News, Enphase Energy, Intel, Netflix, Digital Realty Trust Locations: Royal Caribbean

☆ Tesla vs. BYD: Here's why one fund manager prefers the Buffett-backed automaker
▼ + stars: | 2023-05-22 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

In an era defined by the need to tackle climate change, electric vehicles are seen as an increasingly important part of the solution. For Philip Ripman, portfolio manager at Storebrand Asset Management, one global EV automaker stands out: China's BYD — not Elon Musk's Tesla . Public transport operator Nobina already operates over 300 BYD electric buses across multiple Nordic cities. Affordable and high-end vehicles Another reason Ripman favors BYD over Tesla is the former's broader range of vehicles. On Tesla, Ripman expressed some concern over CEO Musk's distractions and their potential impact on the automaker's stock price.

☆ Growing Pains Intensify for EV Startups Lucid and Fisker
▼ + stars: | 2023-05-09 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

Rivian is under pressure to prove it can build its electric trucks at scale without having ramped up production before, as competition heats up from legacy automakers. WSJ toured Rivian’s and Ford’s EV factories to see how they are pushing to meet demand. Illustration: Adam FalkElectric-vehicle startups Lucid and Fisker are confronting dwindling cash piles as the two companies strain to get more vehicles into the hands of customers, first-quarter results show. Lucid, Fisker and electric-truck maker Rivian were among a host of EV startups to go public over the last two years, as investors placed bets on finding the next Tesla . Now, their share prices continue to get hammered as cash reserves dwindle and larger legacy automakers join the EV race.

☆ In race for efficient EVs, Mercedes taps F1 team to keep up with Tesla
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: +6 min

In this article MBG-FF Follow your favorite stocks CREATE FREE ACCOUNTLewis Hamilton of Great Britain drives the Mercedes AMG Petronas F1 Team W13 on race day during the 2023 Australian Grand Prix at Albert Park on April 2, 2023 in Melbourne. But Mercedes' F1 collaboration to build more efficient EVs faster is unprecedented because it embeds that racing mindset and technological expertise directly in product development. After decades of leadership in combustion-engine technology, legacy carmakers like Mercedes have lagged Tesla in electric vehicles. Mercedes' F1 team can help it get back in the race, said Steven Merkt, head of transportation solutions at TE Connectivity , a major autos supplier. Last year, Mercedes unveiled its EQXX concept car, a super-efficient EV capable of a range of more than 1,200 km (745 miles), which was jointly developed with the German premium carmaker's F1 team in England.

☆ GM to end production of electric Chevy Bolt, its first mass-market EV, later this year
▼ + stars: | 2023-04-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Steve Fecht for ChevroletDETROIT – General Motors plans to stop production of its electric Chevrolet Bolt models by the end of this year, CEO Mary Barra told investors Tuesday when discussing the company's first-quarter earnings. The Chevy Bolt EV and EUV, a larger version of the car, make up the vast majority of the company's electric vehicle sales to date. General Motors CEO Mary Barra unveiled the Chevrolet Bolt electric vehicle during the 2016 Consumer Electronics Show in Las Vegas. But Bolt sales never caught on as well as many executives hoped, as EV sales overall remained minuscule outside of Tesla . The Vermont State Police released this photo of the 2019 Chevrolet Bolt EV that caught fire on July 1, 2021 in the driveway of state Rep. Timothy Briglin, a Democrat.

☆ General Motors raises 2023 guidance as first-quarter earnings beat expectations
▼ + stars: | 2023-04-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

The new range is between $8.4 billion and $9.9 billion, down from $8.7 billion to $10.1 billion. DETROIT — General Motors on Tuesday raised key guidance for 2023 after reporting first-quarter results that topped Wall Street's top- and bottom-line forecasts. Its net income during the first quarter, however, was down by roughly 18% to $2.3 billion compared to a year earlier. CFO Paul Jacobson said the company felt confident in raising its adjusted earnings guidance after first-quarter results came in above the company's internal expectations, including continued demand for high-end models. GM's first-quarter results included adjusted earnings of $3.8 billion, down 6% from a year earlier.

☆ Stocks making the biggest moves before the bell: JPMorgan Chase, Wells Fargo, PNC, Lucid, Express & more
▼ + stars: | 2023-04-14 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

JPMorgan Chase reported revenue of $39.34 billion, beating the $36.19 billion estimates for analyst polled by Refinitiv. Wells Fargo — The bank added 3.1% after beating Wall Street expectations when reporting earnings. The company reported revenue at $20.73 billion, which is higher than the $20.08 expected by Wall Street. PNC — Shares rose 1.3% after the bank reported first-quarter earnings. UnitedHealth – UnitedHealth shares rose slightly after the health insurance provider beat Wall Street's estimates on the top and bottom lines and lifted its profit outlook for 2023.

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