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Tag: Tesla

  • Big Tech Is Running Out of Steam. These 3 AI Stocks Merit a Look.

    Big Tech Is Running Out of Steam. These 3 AI Stocks Merit a Look.

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    Technology stocks reigned supreme in the first half of the year, far outperforming the wider market. But sustaining that rally will be tough, and investors need to look now for tech stocks that are ready to benefit from the growth of artificial intelligence. 

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  • Tesla, Inc. (NASDAQ:TSLA) Position Raised by McGlone Suttner Wealth Management Inc.

    Tesla, Inc. (NASDAQ:TSLA) Position Raised by McGlone Suttner Wealth Management Inc.

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    McGlone Suttner Wealth Management Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 4.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,783 shares of the electric vehicle producer’s stock after buying an additional 212 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Tesla were worth $992,000 as of its most recent SEC filing.

    Other hedge funds also recently added to or reduced their stakes in the company. MidWestOne Financial Group Inc. grew its holdings in Tesla by 3.3% during the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after acquiring an additional 15 shares during the period. Linscomb & Williams Inc. increased its stake in Tesla by 3.5% in the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock worth $1,329,000 after purchasing an additional 42 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in Tesla by 22.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 263 shares of the electric vehicle producer’s stock worth $283,000 after purchasing an additional 48 shares in the last quarter. Manchester Financial Inc. increased its stake in Tesla by 1.2% in the 4th quarter. Manchester Financial Inc. now owns 4,441 shares of the electric vehicle producer’s stock worth $547,000 after purchasing an additional 51 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. increased its stake in Tesla by 1.8% in the 4th quarter. Pinnacle Financial Partners Inc. now owns 3,176 shares of the electric vehicle producer’s stock worth $391,000 after purchasing an additional 55 shares in the last quarter. 43.51% of the stock is currently owned by institutional investors.

    Insider Activity

    In other news, CAO Vaibhav Taneja sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $250.04, for a total transaction of $3,000,480.00. Following the sale, the chief accounting officer now directly owns 104,504 shares in the company, valued at $26,130,180.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tesla news, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $197.31, for a total value of $739,912.50. Following the sale, the chief financial officer now directly owns 199,323 shares in the company, valued at $39,328,421.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Vaibhav Taneja sold 12,000 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $250.04, for a total value of $3,000,480.00. Following the completion of the sale, the chief accounting officer now owns 104,504 shares in the company, valued at $26,130,180.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,730 shares of company stock worth $13,035,772. Company insiders own 20.90% of the company’s stock.

    Wall Street Analysts Forecast Growth

    TSLA has been the topic of a number of analyst reports. Mizuho dropped their price target on Tesla from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, April 20th. Wells Fargo & Company dropped their price target on Tesla from $190.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 20th. Tudor, Pickering, Holt & Co. cut Tesla from a “hold” rating to a “sell” rating in a research note on Thursday, April 20th. Barclays cut Tesla from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $220.00 to $260.00 in a research note on Wednesday, June 21st. Finally, JPMorgan Chase & Co. lowered their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Thursday, April 20th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $210.95.

    Tesla Stock Up 1.7 %

    Shares of TSLA stock opened at $261.77 on Monday. Tesla, Inc. has a 12 month low of $101.81 and a 12 month high of $314.67. The firm has a market cap of $829.68 billion, a PE ratio of 76.99, a price-to-earnings-growth ratio of 3.65 and a beta of 2.04. The stock has a 50 day moving average of $205.81 and a 200-day moving average of $182.24. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

    Tesla (NASDAQ:TSLAFree Report) last released its quarterly earnings data on Wednesday, April 19th. The electric vehicle producer reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. The business had revenue of $23.33 billion for the quarter, compared to analysts’ expectations of $23.36 billion. Tesla had a return on equity of 27.29% and a net margin of 13.66%. Tesla’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 2.91 EPS for the current year.

    About Tesla

    (Free Report)

    Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, retail merchandise, and vehicle insurance services.

    Featured Stories

    Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLAFree Report).

    Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

    Receive News & Ratings for Tesla Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Tesla and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • Li Auto, XPeng, and NIO Deliver Record Number of EVs in June

    Li Auto, XPeng, and NIO Deliver Record Number of EVs in June

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    Deliveries in June from Chinese electric-vehicle producers


    Li Auto



    XPeng


    and


    NIO


    were great but uneven. The results hold a couple of lessons for investors ahead of


    Tesla


    ‘s closely watched delivery report due Sunday.

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  • Wrapmate Launches Interactive Tesla Cybertruck Wraps Configurator

    Wrapmate Launches Interactive Tesla Cybertruck Wraps Configurator

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    Press Release


    Jun 28, 2023

    Tesla Cybertruck owners can choose from nearly 100 colors and have Wrapmate’s massive network of 2,000 installers execute the wrap anywhere in the country.

    After Tesla CEO, Elon Musk, said: “Cybertruck can have any color you want, so long as it’s nothing,” that Henry Ford-like statement led Wrapmate to create a solution to allow customers to personalize and stand out from having a “nothing” colored Cybertruck.

    Wrapmate’s interactive Cybertruck wrap configurator and e-commerce-like experience allow customers to unlock new opportunities to design and purchase vehicle graphics from the comfort of their homes, just like they bought their Cybertruck.

    “We are extremely excited to launch our Tesla Cybertruck wrap configurator to help consumers visualize their wrap,” says Javier Lozano, Jr., Chief Marketing Officer of Wrapmate. “Wrapmate is the first and only national vehicle graphics company that offers customers the ability to place a no-risk, fully refundable, Initial Project Deposit. This gives them a highly personalized Cybertruck wrap created and designed by our world-class, in-house design team.”

    Customers will be able to showcase their new Cybertruck utilizing best-in-class 3M vinyl material. 3M™ Wrap Film offers nearly 100 colors, textures, and finishes. Plus, individuals can add more personalization to their Cybertruck with a one-of-a-kind designed wrap. Whether it’s to promote a business brand or simply make their plain, blank Cybertruck standout – a professionally designed wrap will garner immense attention.

    To try Wrapmate’s interactive Cybertruck wraps configurator visit https://cybertruck.wrapmate.com. Tesla Cybertruck wraps by Wrapmate will be available for purchase by mid-summer of 2023.  

    About Wrapmate
    Wrapmate is a technology-driven managed marketplace that is reimagining the buy-and-sell experience in the vehicle graphics industry. With innovative customer interaction and a network of 2,000+ local installation service providers, Wrapmate efficiently serves business owners, fleet managers, franchises, and consumers coast-to-coast. Learn more about Wrapmate’s vehicle wraps solutions at https://wrapmate.com.

    Source: Wrapmate

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  • Northwest Investment Counselors LLC Acquires 203 Shares of Tesla, Inc. (NASDAQ:TSLA)

    Northwest Investment Counselors LLC Acquires 203 Shares of Tesla, Inc. (NASDAQ:TSLA)

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    Northwest Investment Counselors LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 55.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 569 shares of the electric vehicle producer’s stock after buying an additional 203 shares during the period. Northwest Investment Counselors LLC’s holdings in Tesla were worth $118,000 at the end of the most recent quarter.

    Several other institutional investors have also recently made changes to their positions in the company. MidWestOne Financial Group Inc. increased its stake in shares of Tesla by 3.3% during the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock valued at $509,000 after buying an additional 15 shares during the period. Linscomb & Williams Inc. grew its stake in Tesla by 3.5% in the first quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock valued at $1,329,000 after purchasing an additional 42 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in Tesla by 22.3% in the first quarter. Salem Investment Counselors Inc. now owns 263 shares of the electric vehicle producer’s stock valued at $283,000 after purchasing an additional 48 shares during the last quarter. Manchester Financial Inc. grew its stake in Tesla by 1.2% in the fourth quarter. Manchester Financial Inc. now owns 4,441 shares of the electric vehicle producer’s stock valued at $547,000 after purchasing an additional 51 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. grew its stake in Tesla by 1.8% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 3,176 shares of the electric vehicle producer’s stock valued at $391,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 43.51% of the company’s stock.

    Insider Activity at Tesla

    In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $152.44, for a total value of $1,600,620.00. Following the completion of the transaction, the senior vice president now directly owns 65,547 shares of the company’s stock, valued at approximately $9,991,984.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $152.44, for a total value of $1,600,620.00. Following the completion of the transaction, the senior vice president now directly owns 65,547 shares of the company’s stock, valued at approximately $9,991,984.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Zachary Kirkhorn sold 3,751 shares of the stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $162.70, for a total value of $610,287.70. Following the completion of the transaction, the chief financial officer now directly owns 195,572 shares of the company’s stock, valued at $31,819,564.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 151,230 shares of company stock valued at $30,055,907. 20.90% of the stock is owned by insiders.

    Wall Street Analysts Forecast Growth

    Several equities analysts have issued reports on TSLA shares. Wells Fargo & Company cut their target price on Tesla from $190.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 20th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, March 2nd. Wolfe Research lowered Tesla from an “outperform” rating to a “peer perform” rating in a research note on Monday, March 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $200.00 to $230.00 in a research note on Monday. Finally, Mizuho dropped their price target on Tesla from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, April 20th. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $206.01.

    Tesla Trading Down 6.1 %

    Shares of NASDAQ:TSLA opened at $241.05 on Tuesday. Tesla, Inc. has a 1 year low of $101.81 and a 1 year high of $314.67. The firm has a market capitalization of $764.01 billion, a price-to-earnings ratio of 70.90, a price-to-earnings-growth ratio of 3.44 and a beta of 2.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.04. The business’s 50 day moving average price is $199.16 and its 200-day moving average price is $179.69.

    Tesla (NASDAQ:TSLAGet Rating) last announced its earnings results on Wednesday, April 19th. The electric vehicle producer reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. Tesla had a return on equity of 27.29% and a net margin of 13.66%. The firm had revenue of $23.33 billion for the quarter, compared to analyst estimates of $23.36 billion. During the same quarter last year, the firm posted $0.95 EPS. The business’s revenue was up 24.4% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 3.03 earnings per share for the current fiscal year.

    Tesla Profile

    (Get Rating)

    Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, retail merchandise, and vehicle insurance services.

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    Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLAGet Rating).

    Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

    Receive News & Ratings for Tesla Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Tesla and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • Andrew Tate Offers To Train Elon Musk In Cage Match With Zuckerberg

    Andrew Tate Offers To Train Elon Musk In Cage Match With Zuckerberg

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    Ex-pro kickboxer Andrew Tate, who is currently under house arrest after being criminally charged with rape and human trafficking, has offered to train Elon Musk to fight Mark Zuckerberg after the two billionaires this week agreed to a cage match. What do you think?

    “Offering to help someone is a total beta cuck move.”

    Bria Powell, Turkey Slicer 

    “Having all three in the same place would provide a great opportunity to seal off the room.”

    Diego Armin, Coral Bleacher

    “Something tells me Elon’s already learned an awful lot from Andrew Tate.”

    Pete Fuller, Unemployed

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  • Tesla, Nvidia, Spirit Aerosystems, KB Home, Accenture, and More Market Movers

    Tesla, Nvidia, Spirit Aerosystems, KB Home, Accenture, and More Market Movers

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    Stock futures were falling following three straight days of losses for Wall Street. Federal Reserve Chairman Jerome Powell again will be delivering testimony before Congress. His comments on Wednesday that the central bank likely would be raising rates further this year pushed markets lower.

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  • Elon Musk Might Fight Mark Zuckerberg For Real

    Elon Musk Might Fight Mark Zuckerberg For Real

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    In a matchup that no one asked for but nearly everyone would likely watch, Elon Musk could face off against Mark Zuckerberg in a cage fight.

    Twitter/Tesla/SpaceX boss Musk earlier this week mocked Zuckerberg’s Meta over reports that its Instagram platform would soon have a feature called Threads to compete with Twitter.

    “I’m sure Earth can’t wait to be exclusively under Zuck’s thumb with no other options,” Musk wrote on Twitter, leading to this exchange with a user referencing Zuckerberg’s recent martial arts experience:

    Zuckerberg posted a screenshot of Musk’s tweet in his Instagram story along with three words: “Send me location.”

    The Verge said it confirmed the reply wasn’t a joke.

    “The story speaks for itself,” Meta spokesperson Iska Saric told the website.

    Shown a screenshot of Zuckerberg’s response, Musk tweeted:

    Both billionaires have at least some experience in martial arts. Zuckerberg told podcaster Joe Rogan that he began studying mixed martial arts during the pandemic, saying he liked its “primal” nature.

    The Facebook cofounder recently competed in a local Brazilian jiu-jitsu tournament, where he won a couple of medals.

    In a separate interview, Musk told Rogan he’s practiced several forms of martial arts including jiu-jitsu.

    In 2020, Musk publicly challenged Johnny Depp to a cage fight during the actor’s legal battle with actor/ex-wife Amber Heard. One of the actor’s many text messages read in court was a threat to cut off Musk’s penis amid reports he was having an affair with Heard.

    Musk denied seeing Heard when she was married to Depp.

    “If Johnny wants a cage fight, just let me know,” he told the New York Times, which noted that he giggled as he said it.

    Musk on Twitter said a fight with Zuckerberg would be “hilarious” and added:

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  • Ford CEO Slams Tesla’s ‘Silicon Valley’ Cybertruck | Entrepreneur

    Ford CEO Slams Tesla’s ‘Silicon Valley’ Cybertruck | Entrepreneur

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    Ford CEO Jim Farley has a message for Elon Musk’s Tesla: Your fancy new Cybertruck doesn’t keep me up at night.

    Appearing on CNBC’s Mad Money from the Ford headquarters in Dearborn, Michigan,” Farley told Jim Kramer that Musk’s upcoming Cybertruck wouldn’t steal customers from the company’s F-150 Lightning electric pickup truck.

    “If he wants to design a Cybertruck for Silicon Valley people, fine,” Farley said. “It’s like a cool high-end product parked in front of a hotel. But I don’t make trucks like that. I make trucks for real people who do real work.”

    The release of the Cybertruck — Tesla’s first electric truck — has been fraught with delays since Musk first announced it in 2019. But in an earnings call last April, Musk assured investors that the EV would be ready by the end of the year.

    Photo by FREDERIC J. BROWN/AFP via Getty Images

    Telsa is eager to get into the EV truck market. Pickup trucks were America’s top-selling vehicles in 2022, with Ford’s F-Series leading the way. However, Tesla dominates the EV market.

    It’s still unclear how similar the Cybertruck and F-150 Lightning will be. According to Business Insider, the Cybertruck is estimated to sell for around $50,000, while the F-150 Lightning has a $60,000 sticker price. Some have compared the Cybertruck to GMC’s Hummer more than a Ford pickup truck.

    Related: 3 Old School Automakers Making Big EV Strides

    Ford to use Tesla charging stations

    Despite Farley’s tough words about Tesla, the two companies recently agreed to a partnership on charging stations. Ford drivers will be able to use over 12,000 Tesla Superchargers across the U.S. and Canada sometime in 2024.

    Asked if that was a conflict of interest, Farley responded, “I have no problem being opportunistic when it comes to advantaging my customers.”

    He added that Musk was amicable during the negotiations. “More because of Henry Ford than Jim Farley.”

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  • Boeing Stock Likes the Paris Air Show. There Is a Catch.

    Boeing Stock Likes the Paris Air Show. There Is a Catch.

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    Boeing Stock Usually Wins From the Paris Air Show. This Is the Catch.

    Investors who are buying into the post-Covid recovery of commercial aerospace will get an important update about the industry, including the hot issues of sustainability and supply-chain snags, when the Paris Air Show kicks off on Monday.

    An error has occurred, please try again later.

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  • Cathie Wood Sold More Tesla Stock. She Might Not Be Done.

    Cathie Wood Sold More Tesla Stock. She Might Not Be Done.

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    Cathie Wood Sold More Tesla Stock. She Might Not Be Done.

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  • Tesla Stock’s Winning Run Analyzed by Wall Street. Here’s What Drove It.

    Tesla Stock’s Winning Run Analyzed by Wall Street. Here’s What Drove It.

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    Tesla Stock’s Winning Streak Ended. Wall Street Says Ford, GM, AI Made It All Happen.

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  • Rampant racism alleged by Black workers at California Tesla factory

    Rampant racism alleged by Black workers at California Tesla factory

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    Tesla may face a class-action lawsuit after 240 Black factory workers in California described rampant racism and discrimination at the electric automaker’s San Francisco Bay Area plant, including frequent use of racial slurs and references to the manufacturing site as a plantation or slave ship.

    The testimonies filed Monday in Alameda County Superior Court come from contractors and employees who worked on the production floor of the factory in Fremont, roughly 40 miles southeast of San Francisco. The vast majority worked at the site between 2016 and now. 

    Lawyers suing Tesla, Inc. say class action status is being sought and estimate at least 6,000 workers could be part of the class.

    The individual testimonies are part of a 2017 lawsuit brought by Marcus Vaughn, who complained in writing to human resources and to Tesla CEO Elon Musk of a hostile work environment in which he was called slurs by co-workers and supervisors. No investigation was conducted and he was fired for “not having a positive attitude,” according to his lawyers.

    In April, a federal jury awarded another former Tesla employee $3.2 million for racial abuse he suffered. Owen Diaz alleged he was called the “n-word” more than 30 times, shown racist cartoons and told to “go back to Africa” during his roughly nine-month tenure at Tesla that ended in 2016.

    Bryan Schwartz, one of Vaughn’s lawyers, said the case has dragged on for years as Tesla sought to force the lawsuit into arbitration. Instead, the California Supreme Court in April allowed Black workers to seek a public injunction in court that would require Tesla to change its work environment.

    “To have this scope of egregious harassment right here in Silicon Valley, it’s disgusting,” Schwartz said, adding that it’s shocking that “Tesla has allowed this kind of pervasive harassment to go on as long as it has.”

    Attorneys for Tesla did not respond to emailed requests for comment.

    All of the declarants said they heard use of one particular racial slur, with more than half saying they heard supervisors and managers use that word, according to a declaration summarizing the statements.

    Dozens also said higher-ups direct the racial slur toward them, the summary stated, and nearly half said they experienced or saw other Black workers tasked with more physically laborious work and disciplined more frequently.

    Production associate Albert Blakes said in his statement that it was difficult to go to work knowing he would face racist slurs, references to slavery and offensive graffiti for 12 hours at a time. He said he made a verbal complaint to human resources in late 2021 but never heard back and nothing changed.

    “Something needs to be done to hold Tesla accountable for the racism that takes place at the Fremont factory to set an example that this racism is not tolerated in workplaces in California,” he said.

    The Fremont plant is the subject of several suits alleging racism, harassment and discrimination.

    Among them: a wide-ranging racial discrimination case brought last year by California regulators. 

    The suit filed by the California Civil Rights Department (formerly known as California Department of Fair Employment and Housing) alleges Tesla turned “a blind eye” to rampant abuses that included likening Black employees to slaves and monkeys.

    Tesla has adamantly denied the allegations made in state court and lashed back by accusing the agency of abusing its authority.

    Musk, Tesla’s CEO and largest shareholder, moved the company’s headquarters from Silicon Valley to Austin in 2021, partly because of tensions with various California agencies over the practices at the Fremont factory.

    Despite the strife, Musk, with California Gov. Gavin Newsom by his side, in February announced that an office complex in Palo Alto will be Tesla’s engineering hub.

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  • As China raids U.S. businesses and arrests workers, the corporate landscape is getting

    As China raids U.S. businesses and arrests workers, the corporate landscape is getting

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    The risks of doing business in China are increasing for foreign companies. The offices of Capvision, a consulting firm with offices in New York and Shanghai, and two American firms have been raided in recent weeks as Chinese authorities exercise their power under a new security law.  

    Police showed up out of the blue in early May at the Chinese offices of Capvision, searched the premises and questioned employees.

    Earlier this spring, U.S. firms Bain & Company and the Mintz Group also had their Chinese offices raided. Five of Mintz’s Chinese employees were detained.

    All three companies did business gathering information on Chinese companies for U.S. investors.

    china-business-us-raid.jpg
    An image from video aired on China’s state-run CCTV network shows authorities carrying out an investigation at the Shanghai office of international consulting firm Capvision Partners, May 9, 2023.

    Reuters/CCTV


    After the Capvision raid, Chinese state TV even aired a special report alleging, without presenting any hard evidence, that the company had lured Chinese citizens to spill state secrets.

    Capvision kept its response to the raid low-key, saying on social media that it would “review its practices,” with direction from China’s security authorities.

    But James Zimmerman, a business lawyer who works in Beijing, told CBS News the raids have spooked foreign businesses.


    Navy releases video of close call between U.S. and China ships

    02:01

    “Everything’s a threat, you know,” Zimmerman said. “Unfortunately, in that kind of environment it’s very difficult to operate — when everything is viewed as a national security matter and… it looks as if…. anything you do could be considered to be spying.”

    The billionaire boss of Twitter and Tesla, Elon Musk, was lionized when he visited China last week. He had a meeting with China’s top vice premier and got a rapturous welcome from employees at his Tesla facility in Shanghai.

    He and other big players in China, including the bosses of American giants like Apple and Starbucks, may be untouchable, but smaller businesses are worried.


    China moves to restrict U.S. access to rare earth minerals as trade war intensifies

    04:51

    “A lot of folks are starting to, you know, rewrite their strategic plans just because of the tension,” said Zimmerman, noting that the increasing crackdown by Chinese authorities “makes it politically very risky for them.”

    Paradoxically, China recently launched a campaign to attract new business from overseas. But many investors have cold feet. A new counterespionage law is due to take effect on July 1, and they worry it may be used as a political weapon to punish certain firms by redefining legitimate due diligence as spying.

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  • Buy Ford Stock, Analyst Says. The Gap Is an Opportunity.

    Buy Ford Stock, Analyst Says. The Gap Is an Opportunity.

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    • Order Reprints

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    Ford Motor


    stock picked up an upgrade to Buy. Business execution is improving and Wall Street hasn’t caught up yet with what’s possible. That’s an opportunity.


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  • El Model Y de Tesla se convierte en el auto m\u00e1s vendido del mundo | Entrepreneur

    El Model Y de Tesla se convierte en el auto m\u00e1s vendido del mundo | Entrepreneur

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    El reinado del Corolla de Toyota ha terminado. Durante 49 años, y con ventas totales que superan los 50 millones de unidades en casi cinco lustros, el vehículo de la marca nipona dominó el mercado. Pero eso ha cambiado: el nuevo rey es un auto eléctrico y lo fabrica Tesla, de Elon Musk.

    Según un reporte de la empresa de análisis JATO Dynamics, el Model Y de Tesla fue el auto más vendido del mundo durante el primer trimestre de 2023. Aunque se trata de una noticia sorprendente, ya la esperábamos, pues desde antes de que el auto saliera al mercado la empresa estimaba ventas de entre 500,000 y un millón de unidades por año.

    Los datos de JATO Dynamics indican que Tesla logró vender 267,200 unidades durante Q1 en 53 diferentes mercados, superando las 256,400 unidades de Corolla. En tercero, cuarto y quinto lugar se encuentran el Hilux, la RAV4 y el Camry, todos fabricados por Toyota.

    La hazaña de Tesla y su Model Y representa un hito, pues es la primera vez que un auto eléctrico ocupa el primer lugar en la lista de los vehículos más vendidos del mundo.

    El Model Y es un SUV compacto 100% eléctrico, crossover del Tesla Model 3 con el que comparte plataforma, tecnología y 75% de los componentes. Tiene una autonomía de entre 394 kilómetros por carga y cuenta con dos motores que controlan digitalmente la potencia de las ruedas traseras y delanteras. Actualmente el auto se fabrica en las giga fábricas de Shanghái, Berlín y Texas.

    En México el Model Y, en versión de un solo motor, tiene un costo de $954,900 pesos. Las versiones de motos dual que brindan mayor autonomía tienen un costo de $1,104,900 y $1,204,900 pesos.

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  • Elon Musk says working from home is

    Elon Musk says working from home is

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    Billionaire Elon Musk underlined his views on remote work in no uncertain terms this week, declaring that working from home is “morally wrong.” 

    The Tesla founder and Twitter owner, who has claimed to work seven days a week, said in an interview with CNBC’s David Faber that employees are more productive in person. But he also expressed disdain for white-collar employees who work from home on class grounds, with most service employees required to do their job on site.

    “There are some exceptions, but I kinda think the whole notion of work-from-home is a bit like the fake Marie Antoinette quote, ‘Let them eat cake,’” he said. “You’re going to make people who make your food that gets delivered [that] can’t work from home; the people that come fix your house, they cant work from home, but you can?” 

    “Does that seem morally right? That’s messed up,” Musk said.

    Musk also took aim at bosses who work from home while overseeing employees who must show up in person to do their jobs, calling them out of touch and hypocritical for “asking everyone else to not work from home while they do.”

    “It’s messed up to assume that, yes, they have to go to work but you don’t. It’s not just a productivity thing, I think it’s morally wrong,” he told CNBC. 

    Many large employers in the U.S. and abroad have settled on hybrid work models, recognizing that employees prize flexibility and enjoy the time and cost savings that come from not having to commute to an office.


    Virginia library provides space for moms who work from home

    01:36

    Laptop “la-la land”

    Musk highlighted the distinction between office workers and those whose jobs can only be performed on a factory floor, like auto workers.

    “The laptop class is living in la-la land. As I said, look at the cars. Are people working from home here? Of course not,” Musk said.

    Not surprisingly, the Tesla, Space X, and until recently Twitter CEO requires that his employees show up for work in person. 

    Musk said he himself works almost every day, taking just two to three days off per year. 

    “I work seven days a week, but I’m not expecting others to do that,” he said. 

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  • Tesla Stock Rises After Annual Meeting. Here’s Why.

    Tesla Stock Rises After Annual Meeting. Here’s Why.

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  • Elon Musk Warns of ‘Tough’ Economic Year Ahead | Entrepreneur

    Elon Musk Warns of ‘Tough’ Economic Year Ahead | Entrepreneur

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    Tesla held its annual shareholder meeting on Tuesday afternoon, and CEO Elon Musk said the company will make changes to its business practices, including the decision to begin advertising for the first time in its 20-year history.

    Following the meeting, Musk sat down for an interview with David Faber of CNBC, where the two chatted about how inflation and the recent rate hikes by the U.S. Federal Reserve will impact Tesla.

    Musk said he expects it to be a “tough 12 months ahead” for “everyone, not just Tesla.”

    Related: ‘Think Carefully’: Musk Issues Stark Warning About New Hires to Tesla Employees

    “You can think of raising the Fed rate as somewhat of a brake pedal on the economy, frankly,” Musk said. “It makes a lot of things more expensive – certainly things that are bought with credit. But then it has downstream effects even on things that aren’t bought with credit … if the car payments or your home mortgage payment is absorbing more of your monthly budget, then you have less money to buy other things.”

    Earlier this month, the Fed hiked interest rates for the 10th cycle in a row (by another 0.25 of a percentage point). As of Wednesday morning, rates sit in the range of 5%-5.25%.

    Musk also expressed his concerns and warned that the government most likely wouldn’t be lowering rates anytime soon.

    “My concern with the way the Federal Reserve is making decisions is they’re just operating with too much latency,” Musk continued. “Basically, the data is somewhat stale. The Federal Reserve was slow to raise interest rates, and now I think they’re going be slow to lower them.”

    Related: Elon Musk Danced the Night Away at a Rave In Mexico After Appointing New Twitter CEO

    Musk compared this ideology with how Tesla sets and adjusts its prices based on demand, noting that the company uses “real-time information” about orders placed on any given day.

    During the shareholder meeting, Musk touched on his bleak outlook for the economy in the year ahead, saying the car industry would be vastly impacted due to hiked interest rates but said it is important not to “overreact.”

    “It is important to remember that there are good times and there are dark times, but then the good times follow the dark times,” he told attendees on Tuesday. “So my advice would be, don’t look at the markets for the next 12 months. If there’s a dip, buy the dip, and I think you will not be sorry.”

    Tesla came off a rough Q1 2023, finishing with a year-over-year net income loss of 24%.

    The electric car company was down just over 33.1% in a one-year period as of Wednesday morning.

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    Emily Rella

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  • Elon Musk says he’s hired new CEO for Twitter; is it NBCUniversal’s Linda Yaccarino?

    Elon Musk says he’s hired new CEO for Twitter; is it NBCUniversal’s Linda Yaccarino?

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    Twitter Chief Executive Elon Musk says he’s found a new CEO to run Twitter and its parent company, X Corp., and “she” starts soon.

    “Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!” Musk tweeted Thursday afternoon. “My role will transition to being exec chair & [chief technology officer], overseeing product, software & sysops.”

    Musk did not offer any clues as to the identity of Twitter’s incoming CEO, but late Thursday, the Wall Street Journal reported Linda Yaccarino, NBCUniversal’s head of advertising, was in talks to become the CEO.

    Yaccarino has worked at Comcast’s
    CMCSA,
    +1.28%

    NBCU for more than a decade, and has been an industry advocate in finding better ways to measure advertising’s effectiveness, according to the Journal.

    Yaccarino oversees global, national and local ad sales, partnerships, marketing, ad tech, data, measurement and strategic initiatives, according to her bio, which says she and her team have generated more than $100 billion in ad sales.

    “She knows metrics in advertising, and has played in different media,” Timothy Hubbard, assistant professor of management at the University of Notre Dame’s Mendoza College of Business, said in an interview. “I don’t know much about her, but she can balance Musk somewhat with her flexibility in advertising.”

    She and Musk appeared in a keynote conversation at a conference in Miami last month, according to Dateline, before NBCU and Twitter inked a major ad pact for the 2024 Olympics.

    Wedbush analyst Dan Ives said the move is good for the stock of Tesla Inc.
    TSLA,
    +2.10%
    ,
    where Musk is also CEO.

    “Musk stepping down as Twitter CEO sooner than thought is clearly good news overall for Tesla investors,” Ives said on Twitter. “Less time focused on Twitter platform and more time around Tesla SpaceX…balancing act too difficult and needed to make this move sooner rather than later.”

    In a note, Ives added: “With the tweet this afternoon, Musk’s reign as CEO of Twitter has finally come to an end and thus will be a positive for Tesla’s stock starting to finally remove this lingering albatross from the story,” and maintained Tesla’s outperform rating.

    Tesla shares advanced 1.6% in after-hours trading.

    After Musk acquired the social media giant for $44 billion, he posted a Twitter poll in December that asked if he should step down as CEO. A majority (57%) said yes, and he responded saying: “I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams.”

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