Amazon shares will reach $3,000 in 2 years without the company really trying, Piper Jaffray says

Robert Mueller wants to testify in private before Congress,…Special counsel Robert Mueller wants to talk to Congress about his investigation into the Trump campaign and Russian interference in the 2016 election, but he wants to do it… Politicsread more


Robert Mueller wants to testify in private before Congress,…Special counsel Robert Mueller wants to talk to Congress about his investigation into the Trump campaign and Russian interference in the 2016 election, but he wants to do it… Politicsread more
Amazon shares will reach $3,000 in 2 years without the company really trying, Piper Jaffray says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: john melloy
Keywords: news, cnbc, companies, really, itpoliticsread, reach, trump, 3000, amazon, testify, private, investigation, mueller, trying, shares, piper, jaffray, company, wants, robert, talk, russian


Amazon shares will reach $3,000 in 2 years without the company really trying, Piper Jaffray says

Robert Mueller wants to testify in private before Congress,…

Special counsel Robert Mueller wants to talk to Congress about his investigation into the Trump campaign and Russian interference in the 2016 election, but he wants to do it…

Politics

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Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: john melloy
Keywords: news, cnbc, companies, really, itpoliticsread, reach, trump, 3000, amazon, testify, private, investigation, mueller, trying, shares, piper, jaffray, company, wants, robert, talk, russian


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European markets higher as UK leader resigns; Casino shares up 15%

The pan-European Euro Stoxx 600 index was nearly 0.7% higher with all major bourses and most sectors in positive territory. Stocks sensitive to trade wars, such as autos and miners, were the biggest gainers, both jumping by around 1%. On Thursday afternoon, President Donald Trump signaled that a trade deal with China could lift tough restrictions on the Chinese telecom giant Huawei. “If we made a deal, I can imagine Huawei being included in some form or some part of a trade deal,” Trump said to


The pan-European Euro Stoxx 600 index was nearly 0.7% higher with all major bourses and most sectors in positive territory. Stocks sensitive to trade wars, such as autos and miners, were the biggest gainers, both jumping by around 1%. On Thursday afternoon, President Donald Trump signaled that a trade deal with China could lift tough restrictions on the Chinese telecom giant Huawei. “If we made a deal, I can imagine Huawei being included in some form or some part of a trade deal,” Trump said to
European markets higher as UK leader resigns; Casino shares up 15% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: chloe taylor
Keywords: news, cnbc, companies, casino, leader, higher, european, trump, white, deal, trade, huawei, telecom, tough, markets, shares, territory, 15, tensions, resigns, wars, uk


European markets higher as UK leader resigns; Casino shares up 15%

The pan-European Euro Stoxx 600 index was nearly 0.7% higher with all major bourses and most sectors in positive territory. Stocks sensitive to trade wars, such as autos and miners, were the biggest gainers, both jumping by around 1%.

On Thursday afternoon, President Donald Trump signaled that a trade deal with China could lift tough restrictions on the Chinese telecom giant Huawei. “If we made a deal, I can imagine Huawei being included in some form or some part of a trade deal,” Trump said to White House reporters. He also predicted a swift end to the ongoing trade tensions.


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: chloe taylor
Keywords: news, cnbc, companies, casino, leader, higher, european, trump, white, deal, trade, huawei, telecom, tough, markets, shares, territory, 15, tensions, resigns, wars, uk


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Read Tesla CEO Elon Musk’s email to employees where he says the company made an average of 900 Model 3s per day this week

Tesla shares rose 1.4% Thursday after CEO Elon Musk sent an e-mail to all employees saying the electric vehicle maker is close to reaching its target production numbers for the Model 3 this quarter. The e-mail’s optimistic tone helped Tesla shares turn positive for the first time in seven days. In an email to employees obtained by CNBC last week, Musk stressed the need for “hardcore” measures to cut spending. Citi analysts wrote Tuesday that Tesla’s shares could fall more than 80% to $36, citing


Tesla shares rose 1.4% Thursday after CEO Elon Musk sent an e-mail to all employees saying the electric vehicle maker is close to reaching its target production numbers for the Model 3 this quarter. The e-mail’s optimistic tone helped Tesla shares turn positive for the first time in seven days. In an email to employees obtained by CNBC last week, Musk stressed the need for “hardcore” measures to cut spending. Citi analysts wrote Tuesday that Tesla’s shares could fall more than 80% to $36, citing
Read Tesla CEO Elon Musk’s email to employees where he says the company made an average of 900 Model 3s per day this week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: lora kolodny lauren feiner, lora kolodny, lauren feiner
Keywords: news, cnbc, companies, elon, company, shares, quarter, production, musks, employees, read, musk, tesla, teslas, week, day, model, email


Read Tesla CEO Elon Musk's email to employees where he says the company made an average of 900 Model 3s per day this week

Tesla shares rose 1.4% Thursday after CEO Elon Musk sent an e-mail to all employees saying the electric vehicle maker is close to reaching its target production numbers for the Model 3 this quarter.

The e-mail’s optimistic tone helped Tesla shares turn positive for the first time in seven days. The company added nearly $500 million to its market cap, reaching around $34.6 billion, in early trading on Thursday.

Here’s what Musk wrote to employees:

Subj. Exciting Goal! Date: May 22, 2109 To: Everbody As of yesterday we had over 50,000 net new orders for this quarter. Based on current trends, we have a good chance of exceeding the record 90,700 deliveries of Q4 last year and making this the highest deliveries/sales quarter in Tesla history! In order to achieve this, we need sustained output of 1,000 Model 3’s per day. Almost all parts of the Model 3 production system have exceeded 1,000 units on multiple days (congratulations!) and we’ve averaged about 900/day this week, so we’re only about 10% away from 7,000/week. If we rally hard, we can do it! Thanks for your hard work

Analysts had been losing confidence in Tesla’s stock during the past week as the company entered cost-cutting mode. In an email to employees obtained by CNBC last week, Musk stressed the need for “hardcore” measures to cut spending.

Citi analysts wrote Tuesday that Tesla’s shares could fall more than 80% to $36, citing “lingering demand/FCF (free cash flow) concerns.” In a private call with Morgan Stanley clients Wednesday, Morgan Stanley research analyst Adam Jonas said he was skeptical about the company’s ability to grow, CNBC reported.

“Tesla is not really seen as a growth story,” Jonas said on the call, which CNBC heard in a recording. Today, “It seems like a distressed credit and restructuring story.”

Loup Ventures co-founder Gene Munster gave the stock its latest downward revision Thursday. Munster expected the company would miss its delivery expectations this year especially as trade tensions drag on between the U.S. and China. He lowered 2019 delivery estimates about 10% to just 310,000 vehicles compared to guidance between 360,000 and 400,000.

While Musk’s email to Tesla employees shed a light on production progress, logistics remains another challenge for the company in meeting its second-quarter delivery goals.

In the first quarter of 2019, Musk said the increase in overseas business stressed the company’s logistics operations. Half of Tesla’s global deliveries happened in the final 10 days of the first quarter.

Subscribe to CNBC on YouTube.

Watch: How Elon Musk’s tweets might be affecting the latest price targets for Tesla


Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: lora kolodny lauren feiner, lora kolodny, lauren feiner
Keywords: news, cnbc, companies, elon, company, shares, quarter, production, musks, employees, read, musk, tesla, teslas, week, day, model, email


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Cramer urges investors to give new Lowe’s CEO more time to fix things as shares plummet

CNBC’s Jim Cramer on Wednesday urged investors not to bail on Lowe’s new CEO Marvin Ellison after the home improvement giant reported disappointing earnings that led to a major sell-off in the stock. “People have written off Ellison but he’s been there for five minutes,” Cramer told CNBC’s “Squawk Box. ” Exactly one year ago, Lowe’s announced that Ellison would take over as CEO, effective July 2018, poaching him from the C-suite at J.C. Penney. Lowe’s should be back to meeting Wall Street expect


CNBC’s Jim Cramer on Wednesday urged investors not to bail on Lowe’s new CEO Marvin Ellison after the home improvement giant reported disappointing earnings that led to a major sell-off in the stock. “People have written off Ellison but he’s been there for five minutes,” Cramer told CNBC’s “Squawk Box. ” Exactly one year ago, Lowe’s announced that Ellison would take over as CEO, effective July 2018, poaching him from the C-suite at J.C. Penney. Lowe’s should be back to meeting Wall Street expect
Cramer urges investors to give new Lowe’s CEO more time to fix things as shares plummet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, ceo, companys, shares, plummet, cnbcs, lowes, cramer, investors, things, ellison, jc, improvement, earnings, fix, written, urges


Cramer urges investors to give new Lowe's CEO more time to fix things as shares plummet

CNBC’s Jim Cramer on Wednesday urged investors not to bail on Lowe’s new CEO Marvin Ellison after the home improvement giant reported disappointing earnings that led to a major sell-off in the stock.

“People have written off Ellison but he’s been there for five minutes,” Cramer told CNBC’s “Squawk Box. ”

Exactly one year ago, Lowe’s announced that Ellison would take over as CEO, effective July 2018, poaching him from the C-suite at J.C. Penney. Prior to J.C. Penny, he spent 12 years at Lowe’s rival Home Depot.

Lowe’s should be back to meeting Wall Street expectations by its third quarter, the “Mad Money” host said, echoing a similar prediction from Ellison.

Ellison said, in the company’s earnings news release, “We are still in the early stages of our transformation, and with the changes we are putting in place. We expect to deliver improved gross margin performance over the balance of the year.” He also said, “The unanticipated impact of the convergence of cost pressure, significant transition in our merchandising organization, and ineffective legacy pricing tools” as being behind the company’s missed earnings.

Most of these mistakes were brought over from past executives, Cramer said. “Marvin’s doing everything he has to do,” he added. “I think the hand he got wasn’t so great.”

Lowe’s shares were falling about 10% Wednesday, as higher costs weighed on its fiscal first-quarter earnings, which fell short of estimates, and prompted the home improvement retailer to cut its forecast for the year.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, ceo, companys, shares, plummet, cnbcs, lowes, cramer, investors, things, ellison, jc, improvement, earnings, fix, written, urges


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Shares of Victoria’s Secret-owner L Brands spike nearly 11% after beating earnings expectations

A shopper carries a Victoria’s Secret bag while walking on Steinway Street in the Queens, New York. Shares of L Brands, the owner of Victoria’s Secret and Bath & Body Works, rose nearly 11% in aftermarket trading Wednesday after the company reported it beat revenue and earnings expectations, helped by the strength of its Bath & Body Works stores. Same-store sales at Victoria’s Secret continued to fall, with the brand reporting a 5% drop in comparable sales. L Brands said it closed 35 and opened


A shopper carries a Victoria’s Secret bag while walking on Steinway Street in the Queens, New York. Shares of L Brands, the owner of Victoria’s Secret and Bath & Body Works, rose nearly 11% in aftermarket trading Wednesday after the company reported it beat revenue and earnings expectations, helped by the strength of its Bath & Body Works stores. Same-store sales at Victoria’s Secret continued to fall, with the brand reporting a 5% drop in comparable sales. L Brands said it closed 35 and opened
Shares of Victoria’s Secret-owner L Brands spike nearly 11% after beating earnings expectations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: ashley turner
Keywords: news, cnbc, companies, shares, body, nearly, share, billion, sales, secretowner, victorias, expectations, beating, secret, analysts, company, spike, brands, brand, earnings


Shares of Victoria's Secret-owner L Brands spike nearly 11% after beating earnings expectations

A shopper carries a Victoria’s Secret bag while walking on Steinway Street in the Queens, New York.

Shares of L Brands, the owner of Victoria’s Secret and Bath & Body Works, rose nearly 11% in aftermarket trading Wednesday after the company reported it beat revenue and earnings expectations, helped by the strength of its Bath & Body Works stores.

The company raised the low-end of its earnings forecast for 2019. It expects earnings to fall between $2.30 and $2.60 a share, up from its previous estimates of $2.20 and $2.60 per share.

Here’s what the company reported compared with what Wall Street expected, based on a survey of analysts by Refinitiv:

Earnings per share: 14 cents vs. break-even expected

Revenue: $2.63 billion vs. $2.56 billion expected

Same-store sales: Flat vs. down 1.3% expected

For the first quarter ended May 4, L Brands said net income fell to $40.3 million, or 14 cents a share, from $47.5 million, or 17 cents a share, a year ago. That was far better than the breakeven results that analysts had predicted on a per-share basis.

L Brands net sales inched up to $2.628 billion from $2.625 billion a year ago. Analysts expected the company to earn $2.56 billion.

Sales at stores open at least 12 months were flat during the quarter, but that was better than the 1.3% decline analysts predicted.

Same-store sales at Victoria’s Secret continued to fall, with the brand reporting a 5% drop in comparable sales. However, same-store sales at Bath & Body Works rose by 13%.

L Brands said it closed 35 and opened one company-owned Victoria’s Secret stores in the first quarter.

The Victoria’s Secret brand, known for its sexy bra styles, has struggled to adapt to changing consumer tastes and has faced criticism for selling less comfortable bras, which it markets on ever-skinnier models. The brand has lost market share to companies like Adore Me, Lively, ThirdLove and American Eagle’s Aerie, which consumers say are more comfortable and inclusive of different body types.

After Victoria’s Secret saw a $500 million drop in annual revenues after pulling its bathing suits off the market in 2016, the brand recently decided to reintroduce swimwear.

L Brands CEO Les Wexner earlier this month also sent an internal memo to employees saying Victoria’s Secret is “rethinking” its annual fashion show because network television is no longer the “right fit.” Viewership of the event has declined. Last year’s show in December earned the worst ratings in its nearly 20-year broadcast history.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: ashley turner
Keywords: news, cnbc, companies, shares, body, nearly, share, billion, sales, secretowner, victorias, expectations, beating, secret, analysts, company, spike, brands, brand, earnings


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Saudi Arabia’s largest IPO since 2014 begins trading, with shares edging above their offer price

DUBAI — Saudi Arabia’s largest initial public offering (IPO) in five years has edged above expectations as it debuted on the Tadawul, the country’s stock exchange, Wednesday morning. Shares of Saudi shopping mall operator Arabian Centres were trading at 26.1 riyals ($6.96) just after 10 a.m. in Riyadh. Omar Al Mohammedy, CEO of Fawaz Alhokair Group, spoke to CNBC about the IPO the week prior and emphasized the importance of Saudi Arabia’s social and economic liberalization plans to the expansion


DUBAI — Saudi Arabia’s largest initial public offering (IPO) in five years has edged above expectations as it debuted on the Tadawul, the country’s stock exchange, Wednesday morning. Shares of Saudi shopping mall operator Arabian Centres were trading at 26.1 riyals ($6.96) just after 10 a.m. in Riyadh. Omar Al Mohammedy, CEO of Fawaz Alhokair Group, spoke to CNBC about the IPO the week prior and emphasized the importance of Saudi Arabia’s social and economic liberalization plans to the expansion
Saudi Arabia’s largest IPO since 2014 begins trading, with shares edging above their offer price Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: natasha turak
Keywords: news, cnbc, companies, offer, saudi, shopping, largest, shares, riyals, range, trading, arabias, fawaz, ipo, million, begins, edging, share, social, price


Saudi Arabia's largest IPO since 2014 begins trading, with shares edging above their offer price

DUBAI — Saudi Arabia’s largest initial public offering (IPO) in five years has edged above expectations as it debuted on the Tadawul, the country’s stock exchange, Wednesday morning.

Shares of Saudi shopping mall operator Arabian Centres were trading at 26.1 riyals ($6.96) just after 10 a.m. in Riyadh.

The price is just a hair above the retail giant’s initial pricing at 26 riyals per share, at the bottom of its indicative range, compared with a price range of 26 to 33 riyals per share for 95 million shares being sold.

The company had been aiming to raise 2.8 billion riyals ($747) million.

Arabian Centres Company — which operates, develops and owns 19 malls across 10 cities in Saudi Arabia — is owned by Fawaz Alhokair Group, whose majority shareholder is Saudi billionaire Fawaz Alhokair.

The 17-year-old shopping mall operator had a revenue of $576 million in 2018, up from $511 million in 2016. Its future plans include the opening of four more malls and one extension in the coming 12 months, according to the company.

Omar Al Mohammedy, CEO of Fawaz Alhokair Group, spoke to CNBC about the IPO the week prior and emphasized the importance of Saudi Arabia’s social and economic liberalization plans to the expansion of his business.

“Vision 2030 presents a tremendous opportunity for us,” he told CNBC’s Dan Murphy in Abu Dhabi, referencing the economic diversification plan spearheaded by Crown Prince Mohammed bin Salman to reduce Saudi Arabia’s reliance on oil revenue.

“One of the vision policy objectives is to improve the quality of life for Saudi citizens and Saudi residents. This includes many entertainment initiatives. One example that directly helps our business is cinemas.”

Saudi Arabia legalized movie theaters in late 2017 for the first time in more than 35 years as part of a drive to open up notoriously conservative social norms in the Islamic monarchy.

“We’re launching 15 cinemas across our existing 19 assets and we’ll have more cinemas in our growth assets,” the CEO continued. “Many of these policy objectives allow us to add concepts that in the past we could not add, whether it’s across entertainment, or fine dining, so we’re excited that there is significant room for us to give a hungry Saudi consumer the product that they demand.”

—Reuters contributed to this story


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: natasha turak
Keywords: news, cnbc, companies, offer, saudi, shopping, largest, shares, riyals, range, trading, arabias, fawaz, ipo, million, begins, edging, share, social, price


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Target shares jump 8% as e-commerce gains fuel earnings beat

Target shares jumped nearly 8% in premarket trading on the news. Sales at Target stores open for at least 12 months were up 4.8%, better than expected growth of 4.2%. Target said traffic at stores was up 4.3%, transactions overall were up 4.3% and the average transaction amount was up 0.5%. The company is one of many retailers today trying to take market share from struggling Victoria’s Secret. As of Tuesday’s market close, Target shares are up about 9% for the year, bringing its market cap to a


Target shares jumped nearly 8% in premarket trading on the news. Sales at Target stores open for at least 12 months were up 4.8%, better than expected growth of 4.2%. Target said traffic at stores was up 4.3%, transactions overall were up 4.3% and the average transaction amount was up 0.5%. The company is one of many retailers today trying to take market share from struggling Victoria’s Secret. As of Tuesday’s market close, Target shares are up about 9% for the year, bringing its market cap to a
Target shares jump 8% as e-commerce gains fuel earnings beat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: lauren thomas courtney reagan, lauren thomas, courtney reagan, sam meredith
Keywords: news, cnbc, companies, sales, 42, vs, traffic, fuel, billion, market, jump, earnings, share, ecommerce, beat, target, gains, stores, shares


Target shares jump 8% as e-commerce gains fuel earnings beat

Target shares soared Wednesday after the discount retailer reported fiscal first-quarter earnings and sales that topped analysts’ expectations, as it brought more people to its stores and convinced them to spend more money there.

Target’s e-commerce sales also surged 42%, as shoppers increasingly turned to its curbside pickup service for online orders, something Amazon can’t offer.

Even with the looming threat of 25% tariffs on apparel and footwear imported from China going into effect, Target maintained its outlook for the full year. The upbeat report contrasts those of department store chains earlier in the week, which largely disappointed investors.

Target shares jumped nearly 8% in premarket trading on the news.

Here’s what the big-box retailer reported compared with what analysts were expecting, based on Refinitiv data:

Earnings per share, adjusted: $1.53 vs. $1.43 expected

Revenues: $17.63 billion vs. $17.52 billion expected

Same-store sales: up 4.8% vs. growth of 4.2% expected

CEO Brian Cornell said Target is “well-positioned to deliver strong financial performance in 2019 and beyond.”

Net income grew to $795 million, or $1.53 per share, compared with $718 million, or $1.33 a share, a year ago. That was 10 cents ahead of analysts’ estimates.

Total revenues were up 5% to $17.63 billion from $16.78 billion last year. That beat estimates for $17.52 billion.

Sales at Target stores open for at least 12 months were up 4.8%, better than expected growth of 4.2%. This marks eight consecutive quarters of same-store sales growth for Target. Target said traffic at stores was up 4.3%, transactions overall were up 4.3% and the average transaction amount was up 0.5%.

Digital sales surged 42%, and purchases that originate online now represent 7.1% of Target’s total transactions, up from 5.2% a year ago.

Target is still calling for same-store sales to be up a low-to-mid-single digit percentage for the year, with a mid-single digit increase in operating income, and adjusted earnings per share falling within a range of $5.75 to $6.05.

Target’s earnings follow those of rival Walmart, which showed pressure on margins easing thanks to greater sales of its in-house apparel and home brands and private-label food options. Target has been hoping to see more of the same in its results.

During the latest quarter, Target said its recently launched intimates and sleepwear brands Auden, Stars Above and Colsie were well received. The company is one of many retailers today trying to take market share from struggling Victoria’s Secret. Target also launched an environmentally friendly cleaning-products brand called Everspring this quarter.

Morgan Stanley earlier this month upgraded shares of Target, calling it a “survivor” in retail. The firm said it believed Target was beyond its “peak margin pain,” as it’s been making investments in its stores, website and supply chain. Those investments had previously eaten into profits.

“Now, there are signs Target’s shipping-related deleverage is narrowing, particularly as it invests in fulfillment options … which promote higher traffic and reduce costs,” Morgan Stanley said ahead of earnings.

Target also generated buzz this month around the launch of its limited-edition line with preppy apparel and accessories brand Vineyard Vines. When items hit stores this past weekend, throngs of shoppers showed up ahead of opening hours. Target has used collaborations like this in the past to drive traffic. The results of that effort will be in next quarter’s results.

As of Tuesday’s market close, Target shares are up about 9% for the year, bringing its market cap to approximately $37.1 billion. Walmart shares are up about 8.5% so far this year.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: lauren thomas courtney reagan, lauren thomas, courtney reagan, sam meredith
Keywords: news, cnbc, companies, sales, 42, vs, traffic, fuel, billion, market, jump, earnings, share, ecommerce, beat, target, gains, stores, shares


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Tesla shares could drop to $10 in a worst-case scenario, Morgan Stanley says

Guests look at a Tesla Model 3 during a ground-breaking ceremony for a Tesla factory in Shanghai on January 7, 2019. Morgan Stanley cut its bear (worst-case) forecast on Tesla’s stock from $97 to just $10 on Tuesday, citing concerns about the company’s increased debt load and geopolitical exposure. In particular, Morgan Stanley analysts said the reduction was driven by concerns around Chinese demand for Tesla products. Shares closed down 2.7% Monday, closing at $205.36, and are down 38% year-to-


Guests look at a Tesla Model 3 during a ground-breaking ceremony for a Tesla factory in Shanghai on January 7, 2019. Morgan Stanley cut its bear (worst-case) forecast on Tesla’s stock from $97 to just $10 on Tuesday, citing concerns about the company’s increased debt load and geopolitical exposure. In particular, Morgan Stanley analysts said the reduction was driven by concerns around Chinese demand for Tesla products. Shares closed down 2.7% Monday, closing at $205.36, and are down 38% year-to-
Tesla shares could drop to $10 in a worst-case scenario, Morgan Stanley says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: elliot smith
Keywords: news, cnbc, companies, teslas, shares, scenario, worstcase, cut, stanley, forecast, trading, drop, model, morgan, companys, stock, tesla, price


Tesla shares could drop to $10 in a worst-case scenario, Morgan Stanley says

Guests look at a Tesla Model 3 during a ground-breaking ceremony for a Tesla factory in Shanghai on January 7, 2019.

Morgan Stanley cut its bear (worst-case) forecast on Tesla’s stock from $97 to just $10 on Tuesday, citing concerns about the company’s increased debt load and geopolitical exposure.

In particular, Morgan Stanley analysts said the reduction was driven by concerns around Chinese demand for Tesla products.

“Our revised bear case assumes Tesla misses our current Chinese volume forecast by roughly half to account for the highly volatile trade situation in the region, particularly around areas of technology, which we believe run a high and increasing risk of government/regulatory attention,” the research team, which included analyst Adam Jonas, said in the note.

Tesla shares fell to near $200 Monday after Wedbush cut its price target from $275 to $230 due to the potential impact of distractions from CEO Elon Musk’s “sci-fi projects” on the company’s ability to shore up demand for its core Model 3.

Shares closed down 2.7% Monday, closing at $205.36, and are down 38% year-to-date. During intraday trading Monday, the stock fell below $200 for the first time since December 2016. The stock was down 2.6% in premarket trading on Tuesday morning.

But it’s not just the Tesla bears making cautious calls. Financial services firm Baird also cut its Tesla estimates Tuesday, lowering the company’s stock to $340 from $400, while T. Rowe Price, for years one of Tesla’s biggest investors, sold around 81% of its holdings over the first three months of 2019.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: elliot smith
Keywords: news, cnbc, companies, teslas, shares, scenario, worstcase, cut, stanley, forecast, trading, drop, model, morgan, companys, stock, tesla, price


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Dow climbs nearly 200 points as tech shares gain after US eases Huawei restrictions

Stocks closed higher on Tuesday following news that the U.S. temporarily eased restrictions on Chinese telecom giant Huawei. The Dow Jones Industrial Average rose 197.43 points to 25,877.33 as Intel outperformed. The Commerce Department said Monday night it would allow Huawei to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets until Aug. 19. The initial restrictions worried investors that the ongoing U.S.-China trade war


Stocks closed higher on Tuesday following news that the U.S. temporarily eased restrictions on Chinese telecom giant Huawei. The Dow Jones Industrial Average rose 197.43 points to 25,877.33 as Intel outperformed. The Commerce Department said Monday night it would allow Huawei to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets until Aug. 19. The initial restrictions worried investors that the ongoing U.S.-China trade war
Dow climbs nearly 200 points as tech shares gain after US eases Huawei restrictions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: fred imbert
Keywords: news, cnbc, companies, existing, worried, tech, shares, trade, worstcase, points, rose, telecom, eases, hogan, dow, nearly, market, climbs, huawei, gain, restrictions


Dow climbs nearly 200 points as tech shares gain after US eases Huawei restrictions

Stocks closed higher on Tuesday following news that the U.S. temporarily eased restrictions on Chinese telecom giant Huawei.

The Dow Jones Industrial Average rose 197.43 points to 25,877.33 as Intel outperformed. The S&P 500 gained 0.9% to end the day at 2,864.36, with the tech sector jumping 1.2%. The Nasdaq Composite advanced 1.1% to 7,785.72.

Equities also got a boost from Boeing. Shares of the airplane maker rose 1.7% after U.S. aviation officials that a bird collision may have caused the 737 Max crash in March.

The Commerce Department said Monday night it would allow Huawei to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets until Aug. 19. The move sought to minimize disruption for the telecom company’s customers around the world. The initial restrictions worried investors that the ongoing U.S.-China trade war was intensifying.

“That’s another ray of hope that we can avoid the worst-case scenario,” said Art Hogan, chief market strategist at National Securities. “The market tends to be seizing on the positive undertones in trade.”

“It felt like they needed to show some flexibility in the administration,” Hogan said. “A week ago Sunday, it seemed like we were heading into no-man’s land on trade.”


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: fred imbert
Keywords: news, cnbc, companies, existing, worried, tech, shares, trade, worstcase, points, rose, telecom, eases, hogan, dow, nearly, market, climbs, huawei, gain, restrictions


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Stocks in Asia mostly turn around as US-China trade tensions take a breather

Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather. Mainland Chinese shares rose on the day, with the Shanghai composite gaining 1.23% to 2,905.97 and the Shenzhen component adding 1.92% to 9,087.52. The Shenzhen composite advanced 1.771% to 1,548.68. The Topix index also declined 0.3% to finish its trading day at 1,550.30. The Hang Seng index in Hong Kong declined around 0.5%, as of its final hour of trading.


Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather. Mainland Chinese shares rose on the day, with the Shanghai composite gaining 1.23% to 2,905.97 and the Shenzhen component adding 1.92% to 9,087.52. The Shenzhen composite advanced 1.771% to 1,548.68. The Topix index also declined 0.3% to finish its trading day at 1,550.30. The Hang Seng index in Hong Kong declined around 0.5%, as of its final hour of trading.
Stocks in Asia mostly turn around as US-China trade tensions take a breather Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: eustance huang
Keywords: news, cnbc, companies, turn, stocks, asia, uschina, trade, shares, tensions, trading, rose, index, higher, declined, day, breather, composite, shenzhen, close


Stocks in Asia mostly turn around as US-China trade tensions take a breather

Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather.

Mainland Chinese shares rose on the day, with the Shanghai composite gaining 1.23% to 2,905.97 and the Shenzhen component adding 1.92% to 9,087.52. The Shenzhen composite advanced 1.771% to 1,548.68.

Over in South Korea, the Kospi rose 0.27% to close at 2,061.25 as shares of Samsung Electronics surged 2.74% following earlier news of Google suspending business activity with Huawei.

Australia’s ASX 200 was 0.37% higher to close at 6,500.10.

The Australian dollar last changed hands at $0.6877, off highs above $0.696 seen in the previous week. Australia’s central bank will consider the case for lower interest rates at its June policy meeting, Governor Philip Lowe said on Tuesday.

Elsewhere in Asia, however, the Nikkei 225 in Japan lost 0.14% to close at 21,272.45. Shares of Tokyo Electron fell 1.88%. The Topix index also declined 0.3% to finish its trading day at 1,550.30.

The Hang Seng index in Hong Kong declined around 0.5%, as of its final hour of trading.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: eustance huang
Keywords: news, cnbc, companies, turn, stocks, asia, uschina, trade, shares, tensions, trading, rose, index, higher, declined, day, breather, composite, shenzhen, close


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