{ }
Symbol TSLA
Name Tesla, Inc.
Currency USD
Sector Consumer Discretionary
IndustryGroup Automobiles & Components
Industry Automobiles
Market NASDAQ Global Select
Country United States
State CA
City Palo Alto
Zipcode 94304
Website http://www.tesla.com
Hertz Global Holdings Inc. reported a larger-than-expected adjusted loss of 68 cents per share in the third quarter, exceeding analysts' estimates of a 46-cent deficit. The company took a $1 billion non-cash impairment charge, primarily due to declining fleet residual values, particularly from its Tesla electric vehicles.
Wall Street experienced slight consolidation following a Trump-induced rally, with the S&P 500 reaching a new record high amid a risk-on mood fueled by clearing US election uncertainties. As the market anticipates upcoming US CPI data, expectations for headline inflation to rise to 2.6% could impact dovish rate cut bets, while broad-based sector gains were led by consumer discretionary and financials, reflecting optimism around Trump's policies.
IG
Elon Musk is poised to take on a significant advisory role in the White House, coinciding with Donald Trump's electoral victory, which is seen as beneficial for Musk's interests. Meanwhile, exchange-traded funds have recorded unprecedented inflows this year, and bondholders are competing to extend loans to the struggling UK utility, Thames Water.
Toyota is facing criticism for its slow transition to battery electric vehicles (BEVs) and its opposition to California's electrification plans, which threatens its market position. With only one BEV model, the bZ4X, the company risks losing ground to competitors like BYD, which is rapidly expanding its electric vehicle lineup and sales globally. As BYD gains traction in developing markets, Toyota must pivot towards affordable electric cars to avoid an existential crisis.
The SMI is lower in pre-market trading as Wall Street loses momentum, while Tesla shares continue to rise. The dollar gained against the yuan and Swiss franc, while the euro fell against the dollar amid concerns over potential tariffs from the Trump administration, which could impact inflation and interest rates. With the Republican Party securing a majority in the House, Trump's agenda may face less resistance, facilitating legislative progress.
NOVONIX is advancing plans for a new production facility in the southeastern U.S. with an initial capacity of 30,000 tonnes per annum, aiming to expand to 75,000 tpa. The company is in discussions for a loan from the DOE's Loan Programs Office to support this initiative, which is part of a broader effort to enhance the domestic EV supply chain and reduce reliance on foreign graphite sources. The Chattanooga facility is set to produce 20,000 tonnes of synthetic graphite annually, with significant agreements already in place with major stakeholders like Panasonic and Stellantis.
Local brands dominated new car sales this year, with BYD leading the charge as it expands internationally, preparing factories in Hungary, Thailand, Turkey, and Brazil. Despite not selling in the US, BYD's production capacity surged, and it reported record quarterly revenue, surpassing Tesla for the first time. As legacy automakers struggle, BYD's hybrid lineup and strong demand in China position it to potentially outpace Ford in total deliveries, marking a significant shift in the global automotive landscape.
Optum, part of UnitedHealth Group, has solidified its position in healthcare analytics with a USD 7.8 billion merger with Change Healthcare, enhancing its data capabilities for over 280 payers and 5,000 hospitals. Oracle, after acquiring Cerner for USD 28.4 billion, integrates advanced analytics into EHR systems, reporting a 417% ROI. Merative, formerly IBM Watson Health, serves over 4,500 clients and boasts a 90% client retention rate, focusing on growth through partnerships and acquisitions.
US stocks rose for a fifth consecutive session, with Bitcoin surpassing $88,000 and the dollar reaching a one-year high, fueled by optimism around President-elect Donald Trump’s agenda. In Asia, markets showed caution, with Tokyo stocks slightly up, Sydney flat, and Hong Kong expected to decline due to disappointment over Chinese stimulus measures. While technology shares fell in the US, bank stocks rose by 2.4%, and Tesla Inc. surged 9%.
Tesla Inc. shares have surged 39% since Donald Trump's election victory, adding over $300 billion in market capitalization. Investors are optimistic that a second Trump term will benefit the electric vehicle manufacturer, with shares reaching a high of $358.64, up 12% on Monday.
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