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☆ Shares of this Swedish EV maker could nearly double, Cantor Fitzgerald says
▼ + stars: | 2023-04-27 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Investors should consider buying Polestar Automotive as electric vehicle demand ramps up, according to Cantor Fitzgerald. PSNY 1D mountain Polestar Automotive shares 1-day Polestar is based in Sweden and started as a joint venture between the country's Volvo and China's Geely in 2017. Polestar shares dropped 54% in 2022, and are down about 35% this year. Polestar shares are up more than 2% during Thursday trading. "The company reported annual revenue of ~$2.5B in 2022, after delivering 51,491 vehicles (above company guidance of 50,000)," Sheppard wrote.

☆ Morning Bid: Fresh spur from Meta and Europe's banks
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +5 min

Perhaps even more surprising, Europe's big banks are wowing the gallery too - showing limited, if any, fallout from the failure of ailing Credit Suisse at the end of the quarter. And so the glass appears half full again despite background tensions around regional U.S. banks and as wider markets brace for several weeks of a U.S. debt ceiling standoff. With Amazon reporting later, its stock rose another 2% ahead of the bell too. The U.S. House of Representatives on Wednesday narrowly passed a bill to raise the government's $31.4 trillion debt ceiling that includes sweeping spending cuts over the next decade. The dollar was marginally weaker, with crude oil prices struggling to recover from their latest lunge lower this week.

☆ Here are Thursday's biggest analyst calls: Apple, Meta, Amazon, Ford, Activision Blizzard & more
▼ + stars: | 2023-04-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Thursday's biggest calls on Wall Street: Bernstein reiterates Apple as market perform Bernstein said it remains "torn" on Apple heading into earnings next week. Morgan Stanley reiterates Meta as overweight Morgan Stanley raised its price target on the AI beneficiary to $300 per share from $250 after the company's earnings report Wednesday. " Morgan Stanley reiterates Ford as overweight Morgan Stanley said it's standing by its overweight rating heading into earnings next week. Citi reiterates Amazon as buy Citi said it's bullish on the e-commerce giant heading into earnings on Thursday after the bell. Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said the stock is one of the firm's top picks heading into earnings in May.

☆ Hertz results beat estimates on strong rental car demand
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 (Reuters) - Hertz Global Holdings Inc (HTZ.O) on Thursday beat analyst estimates for quarterly results as more people rented cars to commute to office and travel outstation, sending the company's shares up nearly 4% before the bell. Demand for rentals remains strong as more companies mandate work from office and people resume their travel plans after a long pandemic-induced hiatus. "Hertz reported better-than-expected results as they continue to benefit from strong consumer demand for travel and the ongoing recovery in business travel," said Tigress Financial Partners analyst Ivan Feinseth. The company posted an adjusted quarterly net income of 39 cents per share for the quarter ended March 31, compared with Refinitiv IBES estimates of 21 cents. It, however, struggled with costlier maintenance and labor charges to keep its fleet on the road.

Compare the Capital One Venture X and Chase Sapphire Preferred Capital One Venture X Rewards Credit CardChase Sapphire Preferred® Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Here's what to know if you're trying to decide between the Venture X Rewards Credit Card and Sapphire Preferred. Transfer PartnersThe Venture X Rewards Credit Card and Sapphire Preferred card earn transferable rewards you can send to various airline and hotel loyalty programs. Travel and Purchase ProtectionsBoth the Venture X Rewards Credit Card and Sapphire Preferred have noteworthy travel insurance and purchase protection. The Venture X Rewards Credit Card is a relatively new entry to the travel rewards space, while the Sapphire Preferred is a tried-and-true classic.

☆ Big Tech earnings, crucial inflation call — here comes the biggest week of earnings season
▼ + stars: | 2023-04-22 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Stocks stuck to a holding pattern this week as investors brace for an incoming wave of Big Tech earnings and the Fed's favorite inflation reading. Earnings reports have generally been better than expected so far this first quarter. Humana (HUM) reports before the bell Wednesday; Meta Platforms and Pioneer Natural Resources (PXD) report after the bell Wednesday. ET: Personal Spending & Income (includes PCE Price Index) Club trades this week Just one trade: We added 150 shares of Coterra Energy (CTRA) on Wednesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ New propellers with looped blades could help make the oceans quiet again, sparing both marine life and the climate
▼ + stars: | 2023-04-19 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +9 min

Sharrow Marine sells them for small boats but would need to scale up to reach the shipping industry. A traditional ship propeller that has blades in a screw-like form. That's what Sebastian realized when he put loop propellers on a drone. Sharrow began selling propellers to recreational boaters in 2020 through a company he founded called Sharrow Marine. Testing led by the company BoatTEST found that the Sharrow Propeller was up to 30% more efficient than a standard blade propeller.

☆ The Best Travel Card for Beginners
▼ + stars: | 2023-04-19 | by ( ) www.wsj.com time to read: +7 min

By Ana StaplesThe Chase Sapphire Preferred® Card is a solid pick for cardholders who want valuable travel benefits without a high annual fee. At $95 per year, the card offers strong travel protections usually found on travel cards with annual fees north of $400. Plus, it earns high rewards rates on purchases in dining and online grocery categories, which is why Buy Side from WSJ named it Best Travel Card for Beginners. Sapphire Preferred’s closest competitor—and our pick for the Best Travel Card—is the Capital One Venture Rewards Credit Card. What to know about Chase credit cardsJPMorgan Chase is the largest credit card issuer in the market, according to market tracker Nilson.

☆ In hard times, Corporate America looks out for its CEOs
▼ + stars: | 2023-04-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

See here: Recent filings illustrate the way CEOs are still lavishly compensated even when massive screw-ups happen on their watch. A Southwest representative told CNN that the December cancellations did factor into the bonuses paid out to employees. The boards that make decisions on CEO pay are usually stacked with executives or former executives from other companies who benefit from the system. Often, CEOs of distressed companies — rather than seeing pay cut — receive so-called retention bonuses to encourage leaders not to flee the sinking ship. “When all the numbers are crunched, 2022 is going to be a flat year for CEO pay,” said Reda.

If you have one of the Chase IHG Rewards credit cards, you'll earn an extra 10 points per dollar with the IHG® Rewards Premier Credit Card and IHG® Rewards Premier Business Credit Card, or 5 points per dollar with the IHG® Rewards Traveler Credit Card. Other ways to redeem IHG pointsOpt for airline miles instead of IHG Rewards pointsIf you'd rather receive airline miles for your stays instead of IHG Rewards points, that's an option, though redemption rates vary by airline. Transfer IHG points to a friendThere's also an option to transfer IHG points to a friend or family member at a cost of $5 per 1,000 points, or buying them through IHG's website. Some of these redemptions are as low as 100 IHG points, so if you haven't had any activity in your account recently, this is a good way to keep your IHG points from expiring. Use IHG points to attend special eventsThrough IHG Auctions, you can redeem IHG points for concerts, sports, special events, or other experiences.

☆ Hertz CEO Stephen Scherr discusses summer rebound travel and EV strategy
▼ + stars: | 2023-04-04 | 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 EmailHertz CEO Stephen Scherr discusses summer rebound travel and EV strategyStephen Scherr, Hertz CEO joins 'Squawk on the Street' to discuss his thoughts on the future of the company, the EV space and more.

LONDON, March 29 (Reuters) - India’s electricity transmission system is coming under increasing strain as booming power demand outstrips growth in despatchable generation. Peak demand met was up by 8% compared with a year ago and 11% compared with 2021 (“Monthly report”, Grid India, March 23, 2023). Frequency is related to the balance between generation and load - excess generation causes frequency to accelerate, excess load causes frequency to drop. The increasing incidence of under-frequency shows controllers struggled to schedule enough firm generation to meet increasing demand on the system. Peak electricity demand in January (210,618 megawatts) and February (209,665 megawatts) was only slightly lower than at the height of last summer in June 2022 (211,856 megawatts).

☆ Rental car firm Hertz's finance chief Cheung to quit
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

March 27 (Reuters) - Rental car firm Hertz Global Holdings Inc (HTZ.O) said on Monday its Chief Financial Officer Kenny Cheung was leaving the company to pursue other opportunities. The company said Chief Accounting Officer Alexandra Brooks will serve as interim finance chief, effective April 1. Shares of the company, which operates the Hertz, Dollar and Thrifty vehicle rental brands, were up 1.3% before the bell. Cheung's departure comes at a time when Hertz's profitability has come under pressure in recent months due to higher car maintenance costs. Cheung will remain in the company until April 14, the company said, as it kicked starts a formal search process for a new CFO.

REUTERS/Mike Blake/File PhotoMarch 3 (Reuters) - Urban scooter company Lime sued Hertz Corp on Thursday alleging unfair competition and accusing the rental car giant of improperly hiring the startup's senior engineers. The loss of engineers has "significantly harmed" Lime, which provides short-term e-bike and scooter rentals in about 30 countries. Hertz Corp, which operates the Hertz, Dollar and Thrifty vehicle rental brands, is a subsidiary of Hertz Global Holdings Inc (HTZ.O). Cong, now at Hertz, did not immediately respond on Friday to a message seeking comment. A representative from Lime did not immediately respond to a message seeking comment.

☆ Since David Solomon became Goldman Sachs CEO, more than 80 partners have left. See the running list here.
▼ + stars: | 2023-03-03 | by ( Carter Johnson | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

David Solomon has been Goldman Sachs' CEO for more than four years since succeeding Lloyd Blankfein. There's been a lot of talk about the morale at Goldman Sachs. In reality, Solomon said, there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." "At the moment, year-to-date, our turnover is at a 5-year low, not just for partners, in the whole firm," Solomon added. Here is a running list of Goldman's partners that have retired from the firm — or moved on to roles at other companies — since Solomon became CEO.

☆ How Elon Musk Ruined Tesla, Let Other Car Companies Catch up on EVs
▼ + stars: | 2023-02-26 | by ( Nora Naughton | ) www.businessinsider.com time to read: +12 min

"I feel stupid driving around with my brand-new Tesla Model Y," Mark told me. Tesla spent the past two decades defying expectations and disrupting the automotive industry, but in 2023 the once revolutionary car company did the seemingly unthinkable: It turned fanboys against it. But after years of rocketing ahead of legacy car companies' tech, the futuristic guts of Tesla's vehicles have started to go stale. Companies like Ford and Audi are changing their sales strategies to model Tesla's innovative direct-sales style. These companies have something Musk doesn't: nationwide networks of brick-and-mortar locations where customers can have their vehicles serviced and repaired.

☆ Analysis: Goldman Sachs CEO, after missteps, to take center stage at investor day
▼ + stars: | 2023-02-24 | by ( Saeed Azhar | ) www.reuters.com time to read: +6 min

"It's a pretty important investor day," said Mike Cronin, investor director at fund manager abrdn, which owns a stake in the bank. In 2020, Solomon kicked off Goldman's inaugural investor day by telling participants they should feel free to "break into open applause." A deal could broaden Goldman's revenue beyond trading and investment banking, which can be buffeted by economic cycles. The investor day is also an opportunity for the company to address questions around Solomon's leadership after bad press, Mayo said. But several presenters from the 2020 investor day have since left.

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☆ Travel demand is hot, but some prices may cool: These are the stocks for spring break and beyond
▼ + stars: | 2023-02-18 | by ( Michelle Fox | ) www.cnbc.com time to read: +9 min

Last week, Hilton Worldwide CEO Chris Nassetta said, "The demand trends here and now are really strong." In the home-rental space, Airbnb also said it was seeing continued strong demand at the start of 2023. China's reopening from its Covid lockdown is also helping propel travel demand, as well as the tick up in business travel, she said. "The trends have been really strong since January," he said. Airlines like Delta, American Airlines and United Airlines cited strong travel demand and higher fares for fueling their strong fourth-quarter earnings — as well as for forecasts for this year.

☆ Factbox: Potential winners and losers from the new U.S. EV charging standards
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +5 min

EV CHARGING COMPANIES: Many, including Volkswagen's (VOWG_p.DE) Electrify America, ChargePoint(CHPT.N) and EVGo (EVGO.O), will accelerate the rollout of chargers due to the federal funding. U.S. EV AUTO SECTOR: The rollout of more charging stations will encourage EV adoption in the United States. INTERSTATE HIGHWAY REST STOPS: They could see an influx of investment as companies establish charging stations along heavily traveled routes. TESLA: Under the new charging standards, the White House said EV market leader Tesla (TSLA.O) has agreed to open part of its U.S. charging network to EVs made by rivals. EV CHARGING COMPANIES: While the charging companies get financial support in their expansion efforts, only a handful of the dozen who commented to the Biden administration ahead of Wednesday's announcement said that they could meet the "Buy American" standards under the proposed timelines.

As part of this effort, White House officials said, they locked a commitment from Tesla to open thousands of its chargers to electric vehicles made by other manufacturers. Tesla has intended to open up its charging network in the US for years. But in one omission that will raise questions from staunch environmentalists, the new federally funded EV chargers will not necessarily be powered by clean energy sources. According to environmental impact research by Project Drawdown, compared to gasoline-powered vehicles, emissions drop by 50% when an electric vehicle's power is drawn from the conventional grid. During the briefing, Energy Secretary Jennifer Granholm emphasized that the President's goal is to get to a "fully clean electric grid" by 2035.

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As a newly minted Airman, I was floored when I first found out about all the credit card perks active duty military members receive. Note that credit card lenders may use many different variations of credit score models when considering your application. Review: IHG Rewards Premier credit card reviewBest Discover Cards for Military MembersWhile Discover credit cards don't actually charge any annual fees — it's one of their hallmarks — they've outdone much of the competition by eliminating all over-limit and late fees for active-duty military credit cards. Review: Navy Federal Flagship Rewards credit card reviewBest Credit Cards for Active-duty Military Frequently Asked Questions (FAQ)Are military credit cards guaranteed approval? Military members will have their credit vetted just as anyone who applies for a credit card.

☆ Hertz forecasts upbeat revenue after profit tops on strong rental car demand
▼ + stars: | 2023-02-07 | by ( Priyamvada C | ) www.reuters.com time to read: +2 min

Feb 7 (Reuters) - Hertz Global Holdings Inc (HTZ.O) said on Tuesday it expects revenue to rise sequentially in the second and third quarters of this year on the back of strong demand for rental cars in the face of economic worries. "I think they were more upbeat about the revenue trajectory than I expected," Northcoast Research Partners analyst John Healy said. Rising costs and supply shortages faced by automakers have made it more expensive for car buyers in an uncertain economy. Hertz, which operates the Hertz, Dollar and Thrifty vehicle rental brands, posted an adjusted profit of 50 cents per share, beating average analyst estimate of 46 cents, as per Refinitiv data. Hertz's fourth-quarter revenue rose 4% to $2.04 billion.

Bed Bath said it was planning to raise just over $1 billion through sales of preferred stock and warrants and from securities when the warrants are exercised. Bed Bath will receive a waiver on its recent bank default should the proposed offering succeed, the company said. Bed Bath & Beyond also appointed Holly Etlin, a bankruptcy expert, as interim chief financial officer. "It’s a similar situation in which a deeply financially distressed company is attempting to sell securities," said Lynn LoPucki, a professor at the University of Florida. Sources have told Reuters that Bed Bath & Beyond has lined up liquidators to close additional stores unless a last-minute buyer emerges.

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