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Stock Market & Financial Investment News

News Breaks
July 21, 2014
11:57 EDTNSANY, TSLA, GM, KNDIChinese electric vehicle maker Kandi surges after tax break news
Shares of Chinese electric car maker Kandi Technologies (KNDI) are surging after a Chinese newspaper reported that electric cars made outside of China would not qualify for a key tax break in the country. WHAT'S NEW: A key sales tax will not be waived on purchases of electric cars made outside of China, said Su Bo, China's vice-minister of the Industry and Information Technology Ministry, according to China Daily. Buyers of electric vehicles made in China will not have to pay a purchase tax from September 1, 2014 until the end of 2017, China Daily stated. WHAT'S NOTABLE: Tesla Motors (TSLA), Nissan (NSANY) and GM (GM) have all sought to sell electric vehicles in China. PRICE ACTION: In late morning trading, Kandi Technologies' stock rose $1.66, or 8.5%, to $21.28. The shares are well off their high for the day of $22.22, but they have surged 80% so far this year. Tesla shares, which had spent some of the morning in slightly negative ground, were up about 1% near $222 per share just before noon.
News For KNDI;TSLA;NSANY;GM From The Last 14 Days
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February 2, 2016
12:22 EDTGMEarnings Watch: Analysts positive on General Motors ahead of Q4 report
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12:03 EDTGMOn The Fly: Top stock stories at midday
Wall Street began the session in negative territory and the averages have remained there throughout the day as oil once again weighs on stocks. The price of oil has slid another 4%, giving the commodity a roughly 10% loss over the past two trading sessions. The market's late day rally yesterday gave hope for a decoupling between equities and oil prices, but that appears to be a one day reprieve as the stocks are back in lock-step with crude prices. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. In Europe, statistics agency Eurostat reported that unemployment across the eurozone decreased by 49,000 to a total of 16.75M in December dropping the unemployment rate to its lowest since September 2011 at 10.4%. In central bank news, the Reserve Bank of Australia and Reserve Bank of India both held their benchmark interest rates steady, as expected. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced 5% in the wake of its report of better than expected quarterly earnings and revenue, pushing Google's parent company to overtake Apple (AAPL) as the world's most valuable publicly-traded company in the process... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.5% amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8% in New York trading after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring... Pfizer (PFE) reported better than expected fourth quarter results, but forecast 2016 revenue and earnings below analysts' estimates, pushing its shares down fractionally. MAJOR MOVERS: Among the notable gainers was Syngenta (SYT), which rallied 4.5% after Bloomberg reported that ChemChina was close to a deal to buy the company for nearly $43B. Also higher were Mattel (MAT), Michael Kors (KORS), and Fabrinet (FN), which gained 12%, 22%, and 12.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Twitter (TWTR), which fell 8% after it was downgraded to Sell at Stifel and following a report claimed that tweets on the service are down 50% from their peak. Also lower were AGCO (AGCO), Harris (HRS), and Pitney Bowes (PBI), which were down 10%, 9.5%, and 11%, respectively, after reporting quarterly earnings. In addition, Ford (F) and General Motors (GM) lost 4% and 3.6%, respectively, after reporting U.S. sales for the month of January. INDEXES: Near midday, the Dow was down 239.86, or 1.46%, to 16,209.32, the Nasdaq was down 64.83, or 1.4%, to 4,555.54, and the S&P 500 was down 27.87, or 1.44%, to 1,911.51.
11:19 EDTTSLATesla estimated to deliver 850 Model S sedans in NA in January, Inside EVs says
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09:34 EDTGMGM reports January U.S. sales up 0.5% to 203,745 vehicles
General Motors said dealers in the United States delivered 203,745 vehicles in January, up 0.5% compared to last year. GM's retail sales rose 9%. The carmaker estimates that the seasonally adjusted annual selling rate for light vehicles in January was 17.5M units. GM ended the month with 74 days supply, or 629,878 vehicles, compared to 630,950 units at the previous month end. GM said, "We believe industry fundamentals such as the age of the vehicle fleet, well managed inventory levels, firm used car pricing, good credit availability and low fuel prices will support higher industry sales in 2016."
09:31 EDTGMGM reports January U.S. sales up 0.5% to 203,745 vehicles
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09:07 EDTNSANYNissan reports January U.S. sales up 1.6% to 105,734 units
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09:04 EDTNSANYNissan reports January U.S. sales up 1.6%, Bloomberg says
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07:30 EDTTSLAPacific Crest more cautious on Tesla after channel checks
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07:09 EDTGM, NSANYTrueCar projects U.S. revenue from new vehicle sales reached $38B in January
TrueCar projects U.S. revenue from new vehicle sales reached a record high for the month of January of $38 billion, up 1.4 percent from a year ago. January marked the auto industry's 25th consecutive month of year over year revenue expansion. Higher average transaction prices helped automakers post a $520 million gain in revenue versus January 2015, despite a likely increase in incentive spending and somewhat lower sales compared with a year ago. As previously announced, TrueCar projects sales of new cars and light trucks contracted 0.3 percent last month. Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
06:28 EDTGMGM waiting on credit from investors, WSJ says
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February 1, 2016
18:46 EDTGM, NSANYAutomakers hit with additional costs due to China regulatory shift, Reuters says
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16:01 EDTTSLAOptions Update; February 1, 2016
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14:42 EDTTSLATesla applies for Michigan dealership license, Detroit News says
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13:24 EDTTSLATesla bull cuts target as competition ramps more quickly than new models
Shares of Tesla (TSLA) dipped significantly in early trading before later rebounding after Morgan Stanley cut its price target on the automaker to $333 from its previous $450, with the research firm citing a slow production ramp for its new car models, potentially weakened consumer demand amid cheap oil, and clearly heightening competition in the electric and autonomous vehicle space. LOW DEMAND, MORE COMPETITION: Morgan Stanley analyst Adam Jones cut his price target on Tesla to $333 from $450, arguing Monday that the carmaker is facing a slow production ramp for the Model X as well as the Model 3, which Jones said may launch in late 2018, missing the company's internal target by at least one year. It is reasonable to assume, Jones said, that Tesla is taking a deliberate, quality-conscious pace for Model X production while also shuffling personnel to help with the car's early rollout, impacting the launch of the mass-market Model 3 even as the company grapples with potentially reduced consumer demand in today's cheap oil environment. Given his assumption of lower volumes, the analyst's revised his 2020 forecast for complete vehicle deliveries to less than half of Tesla's own 500,000 target. For 2016, the analyst cut his total delivery forecast 2% to roughly 70,000 units, including a revision of Model X expectations to 15,000 from 18,500. Contributing to Tesla's headwinds, its consumer energy storage solution looks to be more expensive than previously thought, while competition in the shared and autonomous mobility arena has increased markedly. Indeed, competing efforts from Ford (F), Volkswagen (VLKAY), Alphabet (GOOG) and many others appear "genuine" and are likely to see significant investment follow-through, potentially pressuring Tesla's margins as it increases R&D spend to keep pace, Jones argued. That said, the analyst keeps an Overweight rating on the shares, explaining that while Tesla remains a high risk name that burns plenty of cash to fuel its ambitious plans, it may still be the best positioned company in the ongoing "Auto 2.0" transition. PRICE ACTION: After quickly dropping as low as $182.75 in early trading, shares of Tesla are now up 2.6% to $196.14 in afternoon trading.
10:02 EDTGMGeneral Motors volatility elevated into Q4 and outlook
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09:36 EDTTSLAActive equity options trading on open
Active equity options trading on open: BAC AAPL FB AMZN TWTR MGM MCD NFLX GILD INTC TSLA AA BABA C
08:58 EDTTSLATesla target cut to $333 on lower Model X, 3 expectations at Morgan Stanley
Morgan Stanley analyst Adam Jonas said manufacturing and engineering troubles delayed the Model X launch by at least one year and may have added "hundreds of millions of dollars" to costs for Tesla. While the company focuses significant effort on the Model X, Jonas repeats his expectation that the Model 3 will not launch until late 2018, which is at least one year later than the company is targeting. Citing the Model X and Model 3 concerns, as well as a lower valuation for Tesla Energy and rising competition in the shared mobility space, Jonas cut his price target on Tesla shares to $333 from $450, but maintains an Overweight rating on the stock.
08:29 EDTTSLATesla moves lower in pre-market trading
The stock is down over 3.2% to $184.93 on light volume. At that price next support is at $181.40, the 52-week low. Resistance is at $189.80.
06:07 EDTTSLATesla CEO Musk raises stake in company, MarketWatch reports
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January 29, 2016
09:43 EDTNSANYNissan recalls 846K Altimas due to faulty hood latch
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