Tesla Shanghai cut output again after Covid shutdowns slashed April sales. BYD is about to seize Tesla's EV crown.
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Tesla CEO Elon Musk gave the strongest hint yet Monday that he would like to pay less for Twitter than his $44 billion offer made last month.
Tesla has the two bestselling models, the 3 and the Y. The auto maker's rivals hail from Europe, China, and South Korea.
SHANGHAI (Reuters) -Tesla Inc has delayed a plan to restore production at its Shanghai plant to levels before the city's COVID-19 lockdown by at least a week, according to an internal memo seen by Reuters. The U.S. electric car maker originally aimed to increase output at its Shanghai plant to 2,600 cars a day from May 16, Reuters reported earlier this month citing another memo. But the latest memo said that it plans to stick to one shift for its Shanghai plant for the current week with a daily output of around 1,200 units.
- Investor's Business Daily
Here are May's best Chinese stocks to buy and watch as China starts to ease Covid lockdowns. Regulatory relief hopes also are rising.
- Yahoo Finance Video
Elon Musk trolled Twitter's CEO on Twitter and says the company is claiming he violated his NDA; McDonald's announces it's selling all of its Russian stores amid the Ukraine war fallout; Wix reported mixed earnings for its latest quarter.
- The Wall Street Journal
Many managers leading the company’s roughly 4,700 U.S. stores have been in their roles for at least a decade, and Walmart executives say they need to find a new generation to replace them.
- Associated Press
Elon Musk's ties to China through his role as electric car brand Tesla's biggest shareholder could add complexity to his bid to buy Twitter. Other companies that want access to China give in to pressure to follow Beijing's positions on Taiwan and other issues. Tesla Inc.’s ambitions in China might give Beijing that leverage to pressure Twitter to silence human rights activists and other critics or ease its rules on propaganda if Musk’s $44 billion purchase goes ahead, some experts suggest.
- The Independent
Twitter stock ended down eight per cent at $37.39, while Mr Musk offered to buy it at $54.20
Federal Reserve officials have been leery about sounding too optimistic about inflation, having been burned last year for arguing that high inflation readings were going to be “transitory.” Into the breach stepped former Fed Chairman Ben Bernanke, who said Monday what his former colleagues dare not say. “I guess that I still tend to believe that some of these forces pushing up inflation like the supply chains, like the preference for durable goods or services and some of the commodity price increases gas prices and so on, that they will at least stabilize and begin to moderate sometime during this year which would mean that inflation will come down to some extent, not saying by itself, but without the Fed’s direct intervention,” Bernanke said, in an interview with CNBC.
- Yahoo Finance Video
The Nasdaq closed the day in the red, while energy stocks outperformed and Tesla drove down the consumer discretionary sector.
Tumbling tech stock valuations have consequences. The new round of belt tightening threatens to cascade into a bigger problem—a slowdown in enterprise technology spending. Along with a rapidly fading global economy, it could drive another leg down in the industry’s earnings outlook.
Warren Buffett says these are the best stocks to own when inflation spikes — with consumer prices still surging, it's time to follow his lead
The Oracle of Omaha knows how to beat inflation. So ride his coattails.
(Bloomberg) -- SpaceX employees are offering to sell shares via a private placement that would value Elon Musk’s launch and satellite company at around $125 billion, according to people familiar with the matter.Most Read from BloombergMeet the Hedge-Fund Manager Who Warned of Terra’s $60 Billion ImplosionOmicron Is Turning Out to Be a Weak VaccineU.S. Stocks Extend Losses in Late Session Selloff: Markets WrapGoldman’s Blankfein Says US at 'Very, Very High Risk' of RecessionMusk Says Twitter Deal
- Business Insider
Goldman Sachs lowers its S&P 500 price target for the 3rd time this year and says a recession would cause the stock market to fall another 11%
If the economy avoids a recession, there is still a downside scenario where surging interest rates take a bite out of valuations, Goldman said.
- Rockford Register Star
The owner of the Belvidere Assembly Plant is expected to announce another round of layoffs this month amid the plant's uncertain future.
The Dow Jones index finished last week with a modest loss, even after a late-week rally in Friday’s session. It marked the seventh week in a row that the Dow posted a weekly loss, it’s longest such streak in two decades. That capped a brutal season of market losses, all across the board. The S&P 500 is down 16% this year, and the NASDAQ, with a year-to-date loss of 25%, is into bear market territory. Investors have been giving conflicting sets of reactions to the market’s fall. Coming at it from
- Car and Driver
The base Z coupe lacks the Performance model's track-focused parts, but it's about $12k less than a base six-cylinder Supra.
The Oracle of Omaha finally looks bullish. Berkshire Hathaway's latest 13F filing revealed Warren Buffett did plenty of buying in Q1 2022, including eight new positions.
- Motley Fool
With the Nasdaq Composite index down roughly 27% this year as of this writing, several growth stocks have also seen significant correction. Let's discuss five such top stocks that look very attractive right now. The stock's market capitalization, which crossed $150 billion days after its listing, has fallen to $22 billion.
- Business Insider
'Big Short' investor Michael Burry reveals bet against Apple stock — and built stakes in Alphabet and Meta last quarter
Burry's Scion Asset Management fund held bearish put options against 206,000 Apple shares as of March 31.