|Day's Range||93.02 - 93.02|
U.S. stocks rose Friday, recovering after three consecutive session of losses. Comments from Chinese President Xi Jinping underscored Beijing’s hopes of getting a trade deal done with the U.S.
CEO Elon Musk is expected to reveal Tesla's first electric pickup truck later today. Yahoo Finance's Emily McCormick joins Akiko Fujita on The Ticker to discuss.
Tesla unveiled its long-awaited electric pickup truck on Thursday (November 21). With its geometric gunmetal-gray design, the Cybertruck makes a futuristic statement. The pickup is Tesla's first foray into a market dominated by heavyweights like Ford and GM. It's also key to CEO Elon Musk's vision of sustainable energy. "The top 3 selling vehicles in America are pickup trucks," he told the audience in Los Angeles. "To solve sustainable energy, we have to have a pickup truck." The Cybertruck boasts huge wheels and a body made of thick stainless steel that Musk says won't dent or scratch. But the armored glass windows cracked like spiderweb when hit with a metal ball during a demonstration. "A little room for improvement" Musk said. The Cybertruck starts at $39,900, with the most expensive priced at $69,900. The high-end version has a range of 500 miles, or 800 km. But that might not give it much of a boost when it comes to sales. One industry insider called it a "niche product at best" that poses "no real threat" to the market. Meanwhile, established names like Ford and GM are gearing up with electric trucks of their own. But for drivers itching to get their hands on a pickup with an edge, well, they'll just have to wait. Production of the Cybertruck isn't expected to begin until late 2021.
Wall Street was set to open higher on Friday as latest comments from China and U.S. President Donald Trump lifted hopes of a trade deal after conflicting headlines this week knocked stock indexes off record highs. U.S. stock index futures rose in volatile trading as Trump told Fox News that a trade deal with China is "potentially very close".
Nordstrom led a retail rally, StoneCo surged and Nike boosted the Dow Jones today as stock futures advanced during a pause in U.S.-China trade tension.
TOKYO/BENGALURU, Nov 22 (Reuters) - Tesla Inc's launch of its futuristic Cybertruck pickup suffered a setback when its "armoured glass" windows shattered but it was the overall look of the car that worried Wall Street on Friday, sending the company's shares lower. In the much-anticipated unveiling to cheering fans late on Thursday, Tesla boss Elon Musk had taken a stab at the design, power and durability of mainstream trucks, only to be shaken when his boast about his new vehicle's windows backfired. "Oh my fucking God, well, maybe that was a little too hard," Musk said, when his head of design, Franz von Holzhausen, cracked the driver's side window with a metal ball in a series of pre-planned tests for the crowd.
(Bloomberg) -- Tesla Inc. slumped in pre-market trading after the electric carmaker’s newly unveiled pickup truck elicited mixed response on Wall Street, with many analysts saying the “particularly futuristic” design may relegate it to niche vehicle status.While the $39,900 starting price was below what the Street expected, Cowen analyst Jeffrey Osborne said that lowest-priced variant may never see the light of day. However, the pickup truck’s range and towing capacity were largely seen as “surprisingly strong.”Tesla shares fell 4% before the opening bell.Here’s a roundup of the analyst comments post-launch.Cowen, Jeffrey Osborne(Underperform, Price Target $190)“In a night to be remembered for the Armored Glass fail, Tesla’s Cybertruck reveal will likely disappoint current pickup truck owners and we see the vehicle remaining a niche and not a mainstream product.”“The Blade Runner inspired design appears to be the most controversial feature.”“The base price of $39,900 is likely never to be seen, just as the $35k Model 3 has failed to materialize.”“Tesla appears to have rushed its launch of the Cybertruck in our view as it did not even have side mirrors or windshield wipers.”Evercore ISI, Arndt Ellinghorst(Underperform, PT $200)“Aside from the ‘armor glass’ windows smashing, the truck’s ‘artisanal’ cyber styling and excessive specs will likely result in a niche product made exclusively for a very conspicuous variant of EV enthusiasts and is unlikely to seriously threaten/disrupt incumbent truck makers or may even fall short of broader pickup new entrants such as Rivian.”Wedbush, Daniel Ives(neutral, PT $270)The truck’s design looks “more like a stealth bomber than a pickup truck.”“The most impressive and eye popping part of the design is the ‘ultra hard’ stainless steel alloy that Musk is using with Space X on its Starship rocket.”“Tesla’s pickup truck is surprisingly strong with towing capabilities north of Ford’s F150 and Rivian’s R1T, which is about 11,000 pounds.”“From a demand perspective this will be a more niche market, as we believe hitting the 150,000/175,000 unit threshold in its first full year of deliveries (likely 2022) is the line in the sand out of the gates and could be a tough bogey to hit.”Deutsche Bank, Emmanuel Rosner(Hold)“The truck’s design is particularly futuristic, and its claimed specifications very solid, including battery ranges of 250-500 miles, towing capacity of 7,500 to 14,000 lbs, and 0-60 mph acceleration in 2.9-6.5 seconds.”“The biggest surprise is probably its relatively affordable advertised pricing, ranging $40,000-$70,000 depending on the performance level.”Baird, Ben Kallo(Outperform, PT $355)“The radical design will likely be a point of discussion, but over time we expect impressive features will win over a larger audience.”“The Cybertruck showcases how electric vehicles can bring impressive capabilities to a variety of applications, well beyond basic commuter cars.”“We think vehicle specifications came in toward the higher end of expectations, particularly the low initial price point.”To contact the reporter on this story: Esha Dey in New York at email@example.comTo contact the editors responsible for this story: Brad Olesen at firstname.lastname@example.org, Steven Fromm, Catherine LarkinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Betting against bonds has not, to say the least, performed well, for the last 40 years or so. But Goldman Sachs sees a baby bear market performing.
Dow Jones futures: The Tesla cybertruck event is underway with Tesla stock in a buy zone. Ross Stores, Pure Storage, Splunk were earnings movers.
The internet is going to hang onto this Tesla moment for a while. “Oh my f…g God,” said Tesla’s (TSLA) Chief Executive Elon Musk, looking on as an assistant lobbed the ball, smashing the driver window as a smaller object shattered the one behind it.
Semiconductor stocks have a long runway ahead of them as chip demand for electric and autonomous vehicles ramps up.
The much anticipated truck from Tesla can tow 14,000 pounds, and the base model is priced under $40,000. How does it look? Triangular.
U.S. stock index futures rose on Friday as latest comments from China lifted hopes of a trade deal after conflicting headlines this week knocked Wall Street off record highs. Beijing said it wanted to work out an initial trade pact with Washington "on the basis of mutual respect and equality" after reports earlier in the week suggested that a truce could be delayed into 2020. The benchmark S&P 500 index is on course to end the week with its first decline in seven, while the Nasdaq is eyeing its first weekly drop in eight.
TOKYO/BENGALURU (Reuters) - Tesla Inc's launch of its futuristic Cybertruck pickup suffered a setback when its "armoured glass" windows shattered but it was the overall look of the car that worried Wall Street on Friday, sending the company's shares lower. In the much-anticipated unveiling to cheering fans late on Thursday, Tesla boss Elon Musk had taken a stab at the design, power and durability of mainstream trucks, only to be shaken when his boast about his new vehicle's windows backfired. "Oh my fucking God, well, maybe that was a little too hard," Musk said, when his head of design, Franz von Holzhausen, cracked the driver's side window with a metal ball in a series of pre-planned tests for the crowd.
Update: Tesla unveiled its pickup truck Thursday in Los Angeles. The (TSLA) “cyberpunk” pickup truck is coming. Tesla’s reveal event—happening Thursday evening in Los Angeles—is a big deal for car people.
Elon Musk’s company is set to debut its first pickup truck Thursday evening in Los Angeles. Trucks are a little different than the company’s other luxury models, creating a lot of mystery around the launch.
Tesla Inc. late Thursday revealed its long-awaited all-electric “Cybertruck,” boasting a starting price tag under $40,000.
Trucks aren’t cars. That much investors already know. But just how Tesla’s “cyberpunk” truck will compete with truck incumbents such as Ford and General Motors is anyone’s guess.
Nine years after outlining his plan for a "Tesla super truck with crazy torque, dynamic air suspension" that "corners like it's on rails," Elon Musk has revealed the Cybertruck. But while the vehicle may live up to the hype, the unveiling didn’t go quite to plan.Described as "an armoured personal carrier from the future," Mr Musk decided to demonstrate the electric truck's toughness during the launch event in California.
This is what it has come to. Here is where it will be decided. In a world without gas. This is a land that prays for a hero. This is Mad Man 2. Mad Man. The warrior of the road. To do the job he’s going ...