Text size Shipping giant FedEx raised its profit forecast for the fiscal year. Justin Sullivan/Getty Images Stock futures wavered Friday as the biggest banks in the U.S. moved to rescue beleaguered First Republic Bank. These stocks were poised to make moves Friday: First Republic Bank (FRC) was down 4% in premarket trading. The stock closed with … Read more
Text size Rivian’s manufacturing plant in Normal, IL. The company’s production guidance was good for 2022. Investors will be hoping for similar this year. Courtesy Rivian After plenty of bad news about production from electric vehicle start-ups, market watchers will have the 2023 production outlook from Rivian Automotive in focus when the company updates investors … Read more
Fisker Shares Jump 27% as Ocean EV Deliveries Set for Spring Launch
Elon Musk sold more than $3.5 billion worth of Tesla Inc. stock this week in his second round of sales since buying Twitter Inc. Mr. Musk sold nearly 22 million Tesla shares over a three-day period ending Dec. 14, according to a regulatory disclosure made public Wednesday.
Jeep maker Stellantis STLA -2.70% NV said it would stop operations at a 1,350-employee assembly plant in Illinois, citing the need to control costs in the face of supply-chain disruptions and high expenses associated with moving to electric vehicles. The Netherlands-based global auto maker said Friday that its factory in Belvidere, Ill., which makes the … Read more
Tesla stock was getting hammered after weaker-than-expected third-quarter delivery numbers. Wall Street seems to believe the shortfall was due to logistics. That isn’t what investors are worried about, however. They’re worried about demand. Tesla (ticker: TSLA) reported Sunday third-quarter deliveries and production of 343,830 and 365,923 units, respectively. Wall Street was looking for about 358,000 … Read more
Tesla stock dropped on Monday after the electric-vehicle company disclosed delivery figures that fell short of Wall Street forecasts, but at least some analysts see reason for optimism. On Sunday, Tesla (ticker: TSLA) reported that it delivered 343,830 cars and produced 365,923 in the third quarter. The deliveries were a jump compared with the 254,695 … Read more
Tesla Inc. reported record quarterly deliveries on Sunday. but the number still disappointed analysts. Tesla said it produced over 365,000 vehicles in the just-completed third quarter, and made more than 343,000 deliveries. That was a significant rebound from the second quarter, when it reported nearly 259,000 vehicles built and 255,000 deliveries, with production stunted by … Read more
Institutional investors have been clearing out of stocks. They sold $42 billion worth in the five weeks ending Sept. 21. That followed $51 billion in sales during the five weeks ending Sept. 7 — the biggest selling wave this year, says S&P Global Market Intelligence. Bank of America clients favored defensive names over cyclicals last … Read more
Electric-car startup Faraday Future Intelligent Electric Inc. FFIE 18.60% has secured up to $100 million in new financing to fund operations after reaching a deal with one of its largest shareholders to resolve a monthslong governance dispute. The agreement comes after Faraday said last week that its company leaders were facing death threats and a … Read more