Pinduoduo looks healthy, but most Chinese stocks are struggling in the bear market. BYD, Nio and Li Auto reported September sales.
- Investor's Business Daily
BYD sales nearly tripled in Q3. Nio China EV sales hit a record and Li Auto beat target, both fueled by new models.
Morgan Stanley is bullish on the growth of "future of work" plays such as Box, but sees competition intensifying.
Shares of Nio Inc. resumed its recent selloff toward a more than four-month low on Monday, reversing an earlier intraday gain, after the China-based electric-vehicle maker reported an uptick in September deliveries, enough to lift deliveries for the past three months to a quarterly record.
- Investor's Business Daily
Tesla deliveries hit a record, but missed Q3 views amid China demand concerns. BYD extended its EV sales lead.
- Motley Fool
Starting in 2020, cruise ships were the site of massive COVID-19 outbreaks. With its cruise ships parked and annual revenue falling to as low as $1.9 billion in 2021 (from $20.8 billion in 2019), Carnival sold 19 ships, tapped debt markets, and turned to equity dilution to raise the capital it needed to survive the crisis.
The Hang Seng Index closed at an 11-year low, with losses in financials and tech, although piecemeal property measures out of Beijing temporarily boosted developers.
The cruise operator said Friday that bookings for the fourth quarter are below historical levels, while prices are lower than they were in 2019.
Electric vehicles reduce the amount of carbon dioxide released into the Earth's atmosphere. Just how much better an EV is on that metric depends on a few things, including geography.
U.S. stocks gain and bond yields retreat amid hopes that central banks may have reached peak hawkishness
BYD Co. notched up a seventh consecutive monthly sales record for electric and hybrid vehicles in September. Katrina Nicholas reports on Bloomberg Television.
Electric vehicle maker Rivian announced its Q3 production and delivery numbers on Monday, revealing it made 7,363 of its R1T pickup truck and R1S SUV during the three-month period that ended on September 30. Rivian also said it delivered 6,584 vehicles during the same span. In total across the first three quarters of 2022, Rivian has now produced 14,317 EVs, meaning it'll have to make more than 10,000 during the final three months of the year to make its target.
Korea-based internet company, Naver Corp, has agreed to acquire Poshmark Inc (NASDAQ: POSH) for $17.90 in cash, representing an enterprise value of approximately $1.2 billion. The value represents a premium of 15% to Poshmark's closing stock price as of October 3, 2022. Poshmark is a social e-commerce marketplace for new and secondhand styles. The companies expect the transaction to close by the first quarter of 2023. Wall Street Journal said Poshmark agreed to sell itself in a deal that values
- Motley Fool
Shares of the electric vehicle (EV) maker Rivian Automotive (NASDAQ: RIVN) were sliding this morning on seemingly no company-specific news. Instead, investors may be reacting to the fact that fellow EV maker Tesla delivered fewer vehicles in the third quarter than Wall Street was estimating. EV investors often look to other companies to gauge how well the industry is doing, and it appears that Rivian shareholders took Tesla's latest vehicle production and delivery numbers as a troubling sign for other EV companies.
All the major equity indexes closed higher Monday with positive NYSE and Nasdaq internals as trading volumes declined from the prior session. All closed at or near their intraday highs with one violating its near-term downtrend line as another generated a bullish crossover signal. While the chart progress on Monday's rally was modest, a strong open on Tuesday morning implies the potential technical improvement which we have been waiting for to become more encouraged to act on the data signals.
- Business Insider
Rivian jumps after the EV maker says 3rd-quarter deliveries surged 47% and that it's on track to produce 25,000 cars in 2022
To meet its full-year production target of 25,000 vehicles, Rivian will have to produce at least 10,683 trucks in the fourth quarter.
Naver, the South Korean search giant, today announced it plans to acquire secondhand apparel marketplace Poshmark for $1.2 billion in cash. The deal values publicly traded Poshmark's shares at $17.90 -- a 15% premium over today's closing price -- and the companies expect it to close by Q1 2023, subject to approval by Poshmark stockholders and "the satisfaction of certain other customary closing conditions." Assuming the transaction goes through, Poshmark will become a standalone subsidiary of Naver led by CEO Manish Chandra and Poshmark’s current management team.
GM delivered 14,709 Chevy Bolt electric vehicles in the third quarter, more than doubling the year-to-date Bolt total to 22,012 units. GM is increasing Bolt production to meet demand.
- Insider Monkey
Diamond Hill Capital Management, an investment advisor, released its “Large Cap Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. Despite a challenging second quarter, the fund outperformed the Russell 1000 Index. Favorable stock selection in the technology and consumer discretionary sectors contributed positively to the fund’s performance in the […]
You can hold on to Series I bonds for 30 years, but if you jumped in when the interest rate skyrocketed to 9.62%, you might be looking for an off-ramp well before then. The total return on I-bonds is made up of two parts — a fixed rate that’s set at the time of purchase and an inflation-adjusted rate that resets every six months, in November and May. The fixed rate has been 0% since May 2020. Looking at numbers already published, David Enna, founder of TipsWatch.com, a website that tracks inflation-protected securities, predicts the variable inflation-adjusted portion of the I-bonds formula will be around 6.3%, and likely fall to 3.5% eventually.
- Motley Fool
Growth stocks roared back to life on Monday, and that was a dinner bell for Cathie Wood. The Ark Invest CEO, chief investment officer, and founder publishes her transactions daily across all of her exchange-traded funds. The more interesting additions to her portfolio on Monday were Tesla Motors (NASDAQ: TSLA), Roblox (NYSE: RBLX), and UiPath (NYSE: PATH).