Porsche denies speculation that it’s planning to go public

The German luxury carmaker Porsche has denied speculation that it’s planning to pursue an initial public offering (IPO). In an emailed response to CNBC on Monday, Porsche flatly denied any suggestion it was moving toward public ownership. “Porsche does not currently have any plans to pursue a (partial) initial public offering (IPO). The Stuttgart-based sports car manufacturer denies all reports to the contrary that claim an IPO is in progress,” it said. The German car maker further highlighted t


The German luxury carmaker Porsche has denied speculation that it’s planning to pursue an initial public offering (IPO). In an emailed response to CNBC on Monday, Porsche flatly denied any suggestion it was moving toward public ownership. “Porsche does not currently have any plans to pursue a (partial) initial public offering (IPO). The Stuttgart-based sports car manufacturer denies all reports to the contrary that claim an IPO is in progress,” it said. The German car maker further highlighted t
Porsche denies speculation that it’s planning to go public Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: david reid, getty images
Keywords: news, cnbc, companies, saying, valuation, pursue, porsche, planning, speculation, denied, denies, car, volkswagen, value, public, ipo


Porsche denies speculation that it's planning to go public

The German luxury carmaker Porsche has denied speculation that it’s planning to pursue an initial public offering (IPO).

On Friday, the company’s chief financial officer suggested to reporters gathered at the firm’s development center that such a listing could easily top the success of Ferrari’s foray into public ownership. The Italian supercar maker has an estimated value of around $22 billion.

In comments not denied by Porsche to CNBC, Lutz Meschke said a listed car company led by Porsche and including Bentley, Bugatti and Lamborghini could merit a valuation worth more than three times that of Ferrari. Bentley, Bugatti and Lamborghini form part of the Volkswagen Group, alongside Porsche.

“A valuation of 60 billion to 70 billion euros certainly doesn’t sound like a stretch,” he was reported as saying, before adding that analysts would value such a firm on the same metrics as a luxury stock.

Meschke is further quoted as saying: “Every company needs to think about whether it makes sense to create competitive divisions.”

In an emailed response to CNBC on Monday, Porsche flatly denied any suggestion it was moving toward public ownership.

“Porsche does not currently have any plans to pursue a (partial) initial public offering (IPO). The Stuttgart-based sports car manufacturer denies all reports to the contrary that claim an IPO is in progress,” it said.

Porsche also said Meschke’s comments simply reflected on how the Ferrari listing was “a positive example of how an IPO can be a beneficial move during the automotive sector’s current period of transformation.”

The German car maker further highlighted that during his presentation Meschke had said he had no authority on any Porsche IPO, with that decision ultimately resting with executives at the company’s parent owner, Volkswagen.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: david reid, getty images
Keywords: news, cnbc, companies, saying, valuation, pursue, porsche, planning, speculation, denied, denies, car, volkswagen, value, public, ipo


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump doubles down on Fed attacks, saying it’s ‘going loco’

Saying he’s “not happy” with the Fed, Trump told Fox News he could’t understand why it was continuing to tighten U.S. monetary policy. The Fed is going loco and there’s no reason for them to do it. Even as he expressed concerns about the Fed’s interest rate policy, Trump told reporters at the White House Tuesday that he had not spoken to Fed Chairman Jerome Powell about them. I think the Fed has gone crazy,” the president told reporters. The Fed has raised interest rates three times this year an


Saying he’s “not happy” with the Fed, Trump told Fox News he could’t understand why it was continuing to tighten U.S. monetary policy. The Fed is going loco and there’s no reason for them to do it. Even as he expressed concerns about the Fed’s interest rate policy, Trump told reporters at the White House Tuesday that he had not spoken to Fed Chairman Jerome Powell about them. I think the Fed has gone crazy,” the president told reporters. The Fed has raised interest rates three times this year an
Trump doubles down on Fed attacks, saying it’s ‘going loco’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: christina wilkie, everett rosenfeld, nicholas kamm, afp, getty images
Keywords: news, cnbc, companies, saying, white, going, trump, president, fed, problem, central, told, rates, loco, policy, doubles, attacks, interest


Trump doubles down on Fed attacks, saying it's 'going loco'

U.S. President Donald Trump continued his tirade against the Federal Reserve in a late Wednesday television appearance, laying into the central bank’s policy decisions and suggesting it is to blame for Wednesday’s sharp market decline.

Saying he’s “not happy” with the Fed, Trump told Fox News he could’t understand why it was continuing to tighten U.S. monetary policy. The president has previously expressed displeasure with the central bank, and that’s led some to fear the institution’s independence is at risk.

“The problem I have is with the Fed. The Fed is going wild. I mean, I don’t know what their problem is that they are raising interest rates and it’s ridiculous,” Trump said during a telephone interview with Fox host Shannon Bream. “The problem [causing the market drop] in my opinion is Treasury and the Fed. The Fed is going loco and there’s no reason for them to do it. I’m not happy about it.”

“Loco” means “crazy” in Spanish.

In recent months, U.S. officials have sought to emphasize that Trump would honor the Fed’s historic ability to make decisions independent of political interference. “We as an administration absolutely support the independence of the Fed,” Treasury Secretary Steven Mnuchin reportedly said in July.

As recently as Tuesday, Trump had signaled that he understood the importance of maintaining a firewall between the White House and the Fed. Even as he expressed concerns about the Fed’s interest rate policy, Trump told reporters at the White House Tuesday that he had not spoken to Fed Chairman Jerome Powell about them.

“I like to stay uninvolved with them. I have not spoken” to Powell all year, Trump said.

Trump’s attitude towards the Fed seemed to change Wednesday, however, as fears about rapidly rising rates helped cause the Dow Jones Industrial Average to drop more than 800 points by day’s end. The S&P 500 posted its worst day since February and clinched its first five-day losing streak since 2016.

Early on Wednesday afternoon, Trump knocked his central bank as he deplaned from Air Force One in Erie, Pennsylvania for a campaign rally. “I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president told reporters.

The Fed has raised interest rates three times this year and is largely expected to hike once more before year-end.

The most recent September rate hike drew criticism from Trump at the time, who said he was “worried about the fact that they seem to like raising interest rates, we can do other things with the money,” he said.

—CNBC’s Thomas Franck contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: christina wilkie, everett rosenfeld, nicholas kamm, afp, getty images
Keywords: news, cnbc, companies, saying, white, going, trump, president, fed, problem, central, told, rates, loco, policy, doubles, attacks, interest


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump says the Federal Reserve caused the stock market correction, but he won’t fire Chair Powell

President Donald Trump continued to attack the Federal Reserve on Thursday, saying Chairman Jerome Powell is being too stringent with monetary policy and is making a mistake. “It’s a correction that I think is caused by the Fed and interest rates,” Trump said from the Oval Office. Trump said he believes that the Fed’s monetary policy “is far too stringent,” adding that “they’re making a mistake and it’s not right.” In a response to whether he is considering firing Powell, Trump said, “No, I’m no


President Donald Trump continued to attack the Federal Reserve on Thursday, saying Chairman Jerome Powell is being too stringent with monetary policy and is making a mistake. “It’s a correction that I think is caused by the Fed and interest rates,” Trump said from the Oval Office. Trump said he believes that the Fed’s monetary policy “is far too stringent,” adding that “they’re making a mistake and it’s not right.” In a response to whether he is considering firing Powell, Trump said, “No, I’m no
Trump says the Federal Reserve caused the stock market correction, but he won’t fire Chair Powell Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: michael sheetz, thomas franck
Keywords: news, cnbc, companies, wont, reserve, caused, fed, saying, stock, president, correction, federal, chair, policy, stringent, removal, market, powell, trump, stocks


Trump says the Federal Reserve caused the stock market correction, but he won't fire Chair Powell

President Donald Trump continued to attack the Federal Reserve on Thursday, saying Chairman Jerome Powell is being too stringent with monetary policy and is making a mistake.

He blamed the Fed for causing a massive drop in stocks this week that took the Dow Jones Industrial Average down more than 800 points on Wednesday alone. Stocks fell again Thursday.

“It’s a correction that I think is caused by the Fed and interest rates,” Trump said from the Oval Office. “The dollar is very strong, very powerful – and it causes difficulty doing business.”

Trump said he believes that the Fed’s monetary policy “is far too stringent,” adding that “they’re making a mistake and it’s not right.”

In a response to whether he is considering firing Powell, Trump said, “No, I’m not going to fire him. I’m just disappointed.”

The Federal Reserve Act of 1913 outlines the appointment and removal of Fed officials, saying they are to serve four-year terms “unless sooner removed for cause by the President.” The act does not clarify what the required magnitude is for the president’s cause of removal.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: michael sheetz, thomas franck
Keywords: news, cnbc, companies, wont, reserve, caused, fed, saying, stock, president, correction, federal, chair, policy, stringent, removal, market, powell, trump, stocks


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Time is running out in search for Indonesia’s quake survivors

Time was running out on Wednesday for anyone trapped in the rubble of a devastating earthquake and tsunami in Indonesia, five days after disaster struck, while increasingly angry survivors waited for an aid operation to move into high gear. The official death toll from the 7.5 magnitude quake that struck the west coast of the island of Sulawesi last Friday stood at 1,234, many killed by tsunami waves triggered by the quake. He made an initial visit less than two days after the quake struck. He c


Time was running out on Wednesday for anyone trapped in the rubble of a devastating earthquake and tsunami in Indonesia, five days after disaster struck, while increasingly angry survivors waited for an aid operation to move into high gear. The official death toll from the 7.5 magnitude quake that struck the west coast of the island of Sulawesi last Friday stood at 1,234, many killed by tsunami waves triggered by the quake. He made an initial visit less than two days after the quake struck. He c
Time is running out in search for Indonesia’s quake survivors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-03  Authors: muhammad rifki, afp, getty images, bay ismoyo
Keywords: news, cnbc, companies, search, running, disaster, tsunami, toll, saying, quake, struck, visit, waves, survivors, palu, indonesias


Time is running out in search for Indonesia's quake survivors

Time was running out on Wednesday for anyone trapped in the rubble of a devastating earthquake and tsunami in Indonesia, five days after disaster struck, while increasingly angry survivors waited for an aid operation to move into high gear.

The official death toll from the 7.5 magnitude quake that struck the west coast of the island of Sulawesi last Friday stood at 1,234, many killed by tsunami waves triggered by the quake.

But officials fear the toll could soar, as most of the confirmed dead have come from Palu, a small city 930 miles northeast of Jakarta, and losses in remote areas largely cut off since Friday have yet to be determined.

Underlining a growing sense of urgency, President Joko Widodo was due to make his second visit to the disaster zone on Wednesday. He made an initial visit less than two days after the quake struck.

At least seven cargo planes arrived at Palu airport early Wednesday morning carrying tonnes of aid, some bedecked in the red and white national colors and stamped with the presidential office seal declaring: “Assistance from the President of Republic of Indonesia”.

Widodo, who will seek re-election next year, is likely to face criticism if conditions do not improve quickly. He called on Tuesday for reinforcements in the search for survivors, saying everyone had to be found.

Sutopo Purwo Nugroho, spokesman of the National Disaster Mitigation Agency, said late on Tuesday rescuers had reached all four of the badly affected districts, which together have a population of 1.4 million, but he declined to give an estimate of casualties.

“We hope the death toll does not rise,” he said. “We’re continuing rescue operations but right now the team is racing against time.”

He gave few details of the conditions rescuers had found, saying they were similar to those in Palu.

The quake brought down hotels, shopping malls and countless houses in Palu, while tsunami waves as high as 20 feet scoured its beachfront shortly afterwards.

About 1,700 houses in one neighborhood were swallowed up by ground liquefaction, which happens when soil shaken by an earthquake behaves like a liquid, and hundreds of people are believed to have perished, the disaster agency said.

Adding to Sulawesi’s woes, the Soputan volcano in the north of the island, about 600 km northeast of Palu, erupted early on Wednesday but there were no reports of any casualties or damage. Ash was not expected to disrupt flights.


Company: cnbc, Activity: cnbc, Date: 2018-10-03  Authors: muhammad rifki, afp, getty images, bay ismoyo
Keywords: news, cnbc, companies, search, running, disaster, tsunami, toll, saying, quake, struck, visit, waves, survivors, palu, indonesias


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tesla shares surge 15 percent after SEC settlement

Tesla shares surged 15 percent in morning trading Monday, opening at $305.77, after CEO Elon Musk settled charges with the Securities and Exchange Commission. The SEC charged Musk with fraud Thursday alleging he issued “false and misleading” statements and failed to properly notify regulators of material company events. The SEC also imposed a fine of $20 million on Tesla. Over the weekend Musk sent an email to staff saying that Tesla was “very close’ to being profitable. Correction: The SEC char


Tesla shares surged 15 percent in morning trading Monday, opening at $305.77, after CEO Elon Musk settled charges with the Securities and Exchange Commission. The SEC charged Musk with fraud Thursday alleging he issued “false and misleading” statements and failed to properly notify regulators of material company events. The SEC also imposed a fine of $20 million on Tesla. Over the weekend Musk sent an email to staff saying that Tesla was “very close’ to being profitable. Correction: The SEC char
Tesla shares surge 15 percent after SEC settlement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: arjun kharpal
Keywords: news, cnbc, companies, saying, shares, tesla, surge, charges, staff, 15, musk, million, sec, settlement, settled, charged, morning


Tesla shares surge 15 percent after SEC settlement

Tesla shares surged 15 percent in morning trading Monday, opening at $305.77, after CEO Elon Musk settled charges with the Securities and Exchange Commission.

The SEC charged Musk with fraud Thursday alleging he issued “false and misleading” statements and failed to properly notify regulators of material company events. The charges were in relation to a tweet that Musk posted in August saying he was considering taking the electric carmaker public at $420 a share.

On Saturday, Musk settled the charges with the SEC, agreeing to pay a civil penalty of $20 million and give up his role as chairman of the board for at least three years. The SEC also imposed a fine of $20 million on Tesla. The carmaker must also appoint two independent directors to the board.

Under the deal’s terms, Musk and Tesla neither admit or deny wrongdoing alleged by regulators.

Tesla’s gains Monday morning erase the stock’s 14 percent plunge on Friday.

Investors will now be focusing on Tesla’s next earnings report. Over the weekend Musk sent an email to staff saying that Tesla was “very close’ to being profitable. In two emails obtained by CNBC, Musk told staff to “ignore the distractions” and that the company was close to “proving naysayers wrong.”

Correction: The SEC charged Elon Musk with fraud. An earlier version of this story incorrectly said Tesla had been charged.


Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: arjun kharpal
Keywords: news, cnbc, companies, saying, shares, tesla, surge, charges, staff, 15, musk, million, sec, settlement, settled, charged, morning


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Here’s what experts are saying about GE and its new CEO

Shares of General Electric surged more than 7 percent on Monday, after the company announced it would replace CEO John Flannery with former Danaher chief Lawrence Culp. Here’s what three experts had to say about the stock and CEO shake-up:”Under Culp, [Danaher] reinvented themselves into health care, into the exact businesses that we’re talking about divesting right now. And one half of the analysts are saying we didn’t move fast enough to divest health care, announced in June or July and we sti


Shares of General Electric surged more than 7 percent on Monday, after the company announced it would replace CEO John Flannery with former Danaher chief Lawrence Culp. Here’s what three experts had to say about the stock and CEO shake-up:”Under Culp, [Danaher] reinvented themselves into health care, into the exact businesses that we’re talking about divesting right now. And one half of the analysts are saying we didn’t move fast enough to divest health care, announced in June or July and we sti
Here’s what experts are saying about GE and its new CEO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: miguel pineda, ge renewable energy, lionel bonaventure, afp, getty images, mandel ngan, michael nagle, bloomberg, sebastien bozon, kcna
Keywords: news, cnbc, companies, right, heres, chance, experts, company, ge, going, saying, health, stock, management, care, yale, ceo


Here's what experts are saying about GE and its new CEO

Shares of General Electric surged more than 7 percent on Monday, after the company announced it would replace CEO John Flannery with former Danaher chief Lawrence Culp. Here’s what three experts had to say about the stock and CEO shake-up:

“Under Culp, [Danaher] reinvented themselves into health care, into the exact businesses that we’re talking about divesting right now. And one half of the analysts are saying we didn’t move fast enough to divest health care, announced in June or July and we still have it now, there’s a pretty good chance Culp’s going to keep it. We’re going to wind up celebrating the guy who didn’t sell what could be a real gem,” said Jeff Sonnenfeld Senior Associate Dean of the Yale School of Management,” said Jeff Sonnenfeld senior associate dean of the Yale School of Management and a CNBC contributor.

Jim Corridore of CFRA explained: “Certainly, it’s going to take some more time to identify a strategic direction. He gets a chance to reset the company. Maybe health care is not going to get spun off now. Maybe some of the parts that were going to be sold make more sense today. He gets a chance to look at the company. That takes several months right there. And then to start implementing his vision takes up to a year. So it’s going to be a while. But, in the meantime, they can set reasonable financial expectations and they can meet those expectations, which will give investors and analysts confidence to know that they’re on the right track.”

“From my perspective, it’s too early to step up and buy this stock, yet. And usually when you get a change in management like this, you get an initial reaction. And then, if you go back, you see that stock usually corrects further before you find that ultimate low. And I suspect that’ll probably be the template for GE, too.” said Craig Johnson of Piper Jaffray.

Bottom line: Appointing a new CEO is a great move for the struggling company, but only time will tell if it can bounce back from its $500 billion loss over the last 18 years.


Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: miguel pineda, ge renewable energy, lionel bonaventure, afp, getty images, mandel ngan, michael nagle, bloomberg, sebastien bozon, kcna
Keywords: news, cnbc, companies, right, heres, chance, experts, company, ge, going, saying, health, stock, management, care, yale, ceo


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tesla shares plunge as Wall Street throws in towel, saying Musk departure could cost stock $130

Barclays believes if Musk is forced to leave because of the SEC action, it will be weigh on Tesla’s stock. Tesla’s stock closed at $307.52 Thursday. Johnson reiterated his underweight rating and $210 price target for Tesla shares. Jonas reiterated his equal-weight rating and $291 price target for Tesla shares. Brinkman reaffirmed his underweight rating and $195 Dec. 2018 price target for the company’s shares.


Barclays believes if Musk is forced to leave because of the SEC action, it will be weigh on Tesla’s stock. Tesla’s stock closed at $307.52 Thursday. Johnson reiterated his underweight rating and $210 price target for Tesla shares. Jonas reiterated his equal-weight rating and $291 price target for Tesla shares. Brinkman reaffirmed his underweight rating and $195 Dec. 2018 price target for the company’s shares.
Tesla shares plunge as Wall Street throws in towel, saying Musk departure could cost stock $130 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: tae kim
Keywords: news, cnbc, companies, throws, wall, sec, target, shares, teslas, plunge, rating, price, tesla, musks, stock, street, musk, saying, note, towel


Tesla shares plunge as Wall Street throws in towel, saying Musk departure could cost stock $130

Seven experts debate what’s next for Tesla and Elon Musk following SEC charges 16 Hours Ago | 03:45

Wall Street is buzzing over SEC’s civil action against Tesla CEO Elon Musk, predicting significant negative ramifications for the electric car market due to the action.

Shares of the automaker fell 13.9 percent on Friday, their worst day since November 2013.

The Securities and Exchange Commission sued Musk on Thursday, alleging for fraud. The complaint says Musk issued “false and misleading” statements and failed to properly notify regulators of material company events. Musk called the SEC’s allegations “unjustified” and said he “never compromised” his integrity.

Barclays believes if Musk is forced to leave because of the SEC action, it will be weigh on Tesla’s stock.

“The SEC civil action may lead to Musk’s exit from Tesla (either permanently or temporarily) and the Musk premium in the shares dissipating,” analyst Brian Johnson said in a note to clients Friday. “Tesla shares have ~$130 of Musk premium for future success that might dissipate.”

Tesla’s stock closed at $307.52 Thursday.

Johnson reiterated his underweight rating and $210 price target for Tesla shares.

One Wall Street firm is concerned the controversy about the lawsuit will hurt demand for Tesla’s cars.

“We see the potential for negative sentiment to impact demand and employee morale,” Morgan Stanley analyst Adam Jonas said in an investor note. “In our view, this is particularly a risk if the situation is not resolved relatively quickly.”

Jonas reiterated his equal-weight rating and $291 price target for Tesla shares.

J.P. Morgan also thinks the news will affect the company’s ability to raise financing.

“We are concerned that decreased confidence in Tesla on the part of investors may impact the company’s ability to raise capital on amenable terms,” analyst Ryan Brinkman said in a note to clients Friday.

Brinkman reaffirmed his underweight rating and $195 Dec. 2018 price target for the company’s shares.

Citigroup also downgraded the stock to a sell rating from neutral.

“There’s little question that Mr. Musk’s departure would likely cause harm to Tesla’s brand, stakeholder confidence and fundraising,” the note said. “If Mr. Musk ends up staying on, the reputational harm from this might still prevent the stock from immediately returning to ‘normal.'”

WATCH: Tesla and Elon Musk’s wild August — in nine minutes


Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: tae kim
Keywords: news, cnbc, companies, throws, wall, sec, target, shares, teslas, plunge, rating, price, tesla, musks, stock, street, musk, saying, note, towel


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tesla shares are in freefall — Here’s what experts are saying about the stock

Seven experts debate what’s next for Tesla and Elon Musk following SEC charges 19 Hours Ago | 03:45Tesla shares plunged by double digits on Friday for its worst session since November 2013 after the SEC sued CEO Elon Musk for fraud. Here’s what five experts had to say about the stock and the controversial CEO:”I don’t think it’s a long, I think it’s a difficult short,” noted short seller Andrew Left of Citron Research said. You have to actually value Tesla as a business..[and] I believe the fina


Seven experts debate what’s next for Tesla and Elon Musk following SEC charges 19 Hours Ago | 03:45Tesla shares plunged by double digits on Friday for its worst session since November 2013 after the SEC sued CEO Elon Musk for fraud. Here’s what five experts had to say about the stock and the controversial CEO:”I don’t think it’s a long, I think it’s a difficult short,” noted short seller Andrew Left of Citron Research said. You have to actually value Tesla as a business..[and] I believe the fina
Tesla shares are in freefall — Here’s what experts are saying about the stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: annie pei, vcg vcg, getty images, shironosov, source, boeing co, john gress, kcna, thomas barwick getty images, lawrence mcdonald
Keywords: news, cnbc, companies, saying, sec, shares, ceo, tesla, elon, think, say, stock, short, musk, heres, going, freefall, experts


Tesla shares are in freefall — Here's what experts are saying about the stock

Seven experts debate what’s next for Tesla and Elon Musk following SEC charges 19 Hours Ago | 03:45

Tesla shares plunged by double digits on Friday for its worst session since November 2013 after the SEC sued CEO Elon Musk for fraud. Here’s what five experts had to say about the stock and the controversial CEO:

“I don’t think it’s a long, I think it’s a difficult short,” noted short seller Andrew Left of Citron Research said. “I’m surprised that shareholders are shocked that he’s getting charged, of course he was going to get charged by the SEC,” he added.

“I’d say [there’s a] greater than 50 percent [chance], that [Musk] gets removed. But I also want to stress that that is in my book, actually, a positive outcome as crazy as that is. I think his role is best as a product visionary,” Loup Ventures founder Gene Munster explained.

Gabe Hoffman, owner and general partner of Accipter Capital Management thinks the moment Musk is out as CEO of Tesla, it is “no longer a cult stock of Elon Musk’s hopes, dreams and lies. You have to actually value Tesla as a business..[and] I believe the financials show you that Tesla is a very troubled business on the precipice of financial collapse.”

“Certainly in the short-term, the stock is going to take a hit,” said Rebecca Lindland, executive analyst at Kelley Blue Book. “But it may not be as low as people expect as people come in and buy, and it could be that in the long-term the company is fine.”

“Either way you cut it, the valuation is absurd, and the stock has been going up primarily because of Mr. Musk’s brand and vision,” stated Needham analyst Rajvindra Gill.

Bottom line: Wall Street analysts expect a bump road for Tesla as the fate of its CEO and founder hang in the balance.


Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: annie pei, vcg vcg, getty images, shironosov, source, boeing co, john gress, kcna, thomas barwick getty images, lawrence mcdonald
Keywords: news, cnbc, companies, saying, sec, shares, ceo, tesla, elon, think, say, stock, short, musk, heres, going, freefall, experts


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Jamie Dimon sees ‘no great potholes,’ saying 3%-plus economic growth ‘may very well continue’

The U.S. economy is humming along with little in the way to derail its recently stronger growth trajectory, J.P. Morgan Chase Chairman and CEO Jamie Dimon told CNBC on Monday. And it has been now for a couple of quarters,” he said. Dimon said he can’t tell whether the U.S. dispute with China over trade will be a drag on the American economy. In an interview with CNBC’s Jim Cramer from Philadelphia, where the bank plans to open 50 new branches, Dimon listed the reasons he’s positive on the econom


The U.S. economy is humming along with little in the way to derail its recently stronger growth trajectory, J.P. Morgan Chase Chairman and CEO Jamie Dimon told CNBC on Monday. And it has been now for a couple of quarters,” he said. Dimon said he can’t tell whether the U.S. dispute with China over trade will be a drag on the American economy. In an interview with CNBC’s Jim Cramer from Philadelphia, where the bank plans to open 50 new branches, Dimon listed the reasons he’s positive on the econom
Jamie Dimon sees ‘no great potholes,’ saying 3%-plus economic growth ‘may very well continue’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-24  Authors: matthew j belvedere, nbc, getty images, andrew harrer, bloomberg, melanie stetson, christian science monitor, mark wilson, nicholas kamm afp getty images
Keywords: news, cnbc, companies, potholes, quarters, jamie, good, dont, worry, economy, continue, saying, quarter, growth, dimon, great, work, 3plus, economic, sees


Jamie Dimon sees 'no great potholes,' saying 3%-plus economic growth 'may very well continue'

The U.S. economy is humming along with little in the way to derail its recently stronger growth trajectory, J.P. Morgan Chase Chairman and CEO Jamie Dimon told CNBC on Monday.

“In America, the economy is quite strong. It’s growing at 3 percent. And it has been now for a couple of quarters,” he said. “There are no great potholes. So that may very well continue.”

Dimon said he can’t tell whether the U.S. dispute with China over trade will be a drag on the American economy. “I worry about it. But I just don’t know,” he said.

In an interview with CNBC’s Jim Cramer from Philadelphia, where the bank plans to open 50 new branches, Dimon listed the reasons he’s positive on the economy.

“The household is in good shape; people going back to work. FICO [credit] scores are fine. Companies are flush. Tax reform is still a benefit. We don’t have the extreme leverage we had in [2008]. All the lending has been pretty good,” he said.

Since President Donald Trump took office, the nation’s gross domestic product has grown an average of 2.7 percent per quarter, including two seasonally weak first quarters and a 4.2 percent advance in the second quarter of 2018.

The final estimate for second-quarter GDP, scheduled to be released this week, is expected to be revised up to 4.3 percent, according to the CNBC Rapid Update. Third-quarter growth is pegged at 3.3 percent.


Company: cnbc, Activity: cnbc, Date: 2018-09-24  Authors: matthew j belvedere, nbc, getty images, andrew harrer, bloomberg, melanie stetson, christian science monitor, mark wilson, nicholas kamm afp getty images
Keywords: news, cnbc, companies, potholes, quarters, jamie, good, dont, worry, economy, continue, saying, quarter, growth, dimon, great, work, 3plus, economic, sees


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

India’s Modi faces calls for resignation over French jet deal

Indian Prime Minister Narendra Modi faced calls for his resignation over allegations of corruption in a military jet deal with France after former French president Francois Hollande was quoted as saying New Delhi had influenced the choice of a local partner. Indian political parties have been gunning for Modi over the 2016 purchase of 36 Rafale planes from Dassault Aviation estimated to be worth $8.7 billion, saying he had overpaid for the planes and had not been transparent. On Friday, Hollande


Indian Prime Minister Narendra Modi faced calls for his resignation over allegations of corruption in a military jet deal with France after former French president Francois Hollande was quoted as saying New Delhi had influenced the choice of a local partner. Indian political parties have been gunning for Modi over the 2016 purchase of 36 Rafale planes from Dassault Aviation estimated to be worth $8.7 billion, saying he had overpaid for the planes and had not been transparent. On Friday, Hollande
India’s Modi faces calls for resignation over French jet deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-22  Authors: ludovic marin, afp, getty images
Keywords: news, cnbc, companies, worth, calls, political, hollande, choice, modi, faces, planes, indias, deal, jet, saying, resignation, french, indian


India's Modi faces calls for resignation over French jet deal

Indian Prime Minister Narendra Modi faced calls for his resignation over allegations of corruption in a military jet deal with France after former French president Francois Hollande was quoted as saying New Delhi had influenced the choice of a local partner.

Indian political parties have been gunning for Modi over the 2016 purchase of 36 Rafale planes from Dassault Aviation estimated to be worth $8.7 billion, saying he had overpaid for the planes and had not been transparent.

In recent months, the opposition has questioned the government on the choice of billionaire Indian businessman Anil Ambani’s Reliance Defence as Dassault’s local partner instead of a state-run manufacturer with decades of experience.

On Friday, Hollande, who cleared the intergovernmental deal when he was in office, was quoted as saying New Delhi had put pressure on Dassault to choose Reliance.

“We had no choice. We took the interlocutor that was given to us,” he was reported as telling the French news service Mediapart, fueling a political storm in India.

Under Indian defense procurement rules, a foreign firm must invest at least 30 percent of the contract in India to help it build up its manufacturing base and wean off imports.

For that, the French firm picked Reliance and not Hindustan Aeronautics Limited, the state-run giant that has been producing planes for decades, most of them Russian under licence.

“The PM personally negotiated and changed the Rafale deal behind closed doors. Thanks to François Hollande, we now know he personally delivered a deal worth billions of dollars to …Anil Ambani,” Rahul Gandhi, the president of the main opposition Congress party, said in a tweet. “The PM has betrayed India.”

Modi, who stormed to power in 2014 promising to rid India of deep-seated corruption, had no “moral right” to remain in power after the revelations from Hollande, senior Congress leader Anand Sharma said.

Smaller parties also joined the attack on Modi who is already under pressure to shore up his political base ahead of a series of state elections this year followed by a national election in 2019.


Company: cnbc, Activity: cnbc, Date: 2018-09-22  Authors: ludovic marin, afp, getty images
Keywords: news, cnbc, companies, worth, calls, political, hollande, choice, modi, faces, planes, indias, deal, jet, saying, resignation, french, indian


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post