|Day's Range||0.6300 - 0.6300|
Yahoo Finance’s Melody Hahm is live at the LA Auto Show with the details on Tesla’s new Cybertruck.
Kelley Blue Book Executive Analyst Akshay Anand joins The Final Round to discuss Tesla's ‘cybertruck' electric pickup that’s to be announced Thursday night.
It was not the kind of smash hit that Elon Musk or other Tesla executives were expecting - or shareholders for that matter.
Yes, Elon Musk had quite the demonstration during the reveal of Tesla's electric pickup truck. Here's 4 things to know about the Cybertruck going forward.
(Bloomberg) -- Tesla Inc. Chief Executive Officer Elon Musk took to the stage late Thursday to reprise a familiar role: pitching a future vehicle to a throng of adoring fans. This time, it was the “Cybertruck” -- his name for Tesla’s new electric pickup.The angular vehicle, which has a stainless-steel skin, starts at $39,900 and will come in three variants, Musk told a packed audience in Hawthorne, California. Customers can order the truck with a deposit of just $100, though production “nears in late 2021,” Tesla said on its website.After a “Blade Runner”-inspired introduction, Musk had Tesla’s long time chief designer, Franz von Holzhausen, smash the truck’s steel exterior with a sledgehammer, showing that it did not dent.But it was the second demonstration, of “Tesla armor glass,” that was the real show stopper: von Holzhausen unintentionally shattered two of the truck’s windows with a metallic ball, causing Musk to say “Oh my f---ing god.” Given how product launches are usually scripted and rehearsed, the broken windows were the evening’s big surprise.Tesla shares fell 5.5% to $335.32 as of 9:47 a.m. in New York, the sharpest decline in almost two months.The evening began with a slide show of standard pickup trucks throughout the years, and Musk’s vow to make something different that runs on sustainable energy.“You want a truck that’s really tough, not fake tough,” Musk said, in what seemed to be a veiled swipe at Ford Motor Co.’s slogan. “A truck you can take a sledgehammer to that doesn’t dent.”Tesla fans in the audience liked what they saw.“It’s like something out of a movie set,” said Elizabeth Lepek of Marina del Rey, California, a current Tesla Model X owner who placed a $100 deposit for the Cybertruck. “It’s so futuristic. I like the design of it. There’s nothing quite like it on the road.”But traditional truck buyers are a tougher audience and less likely to be impressed by Silicon Valley sizzle.“It misses the core truck buyer,” said Gene Munster, a managing partner at venture capital firm Loup Ventures. “A contractor is not going to show up to a work site in this truck. That said, Tesla will still sell some of them.”The hashtag cybertruck quickly began trending on Twitter as potential customers started sharing their views about the futuristic design -- and the window snafu.And though it will take a long time before the Cybertruck hits the streets, that’s something Tesla customers are used to. Musk unveiled a Semi truck two years ago, but that vehicle has yet to enter volume production.The lucrative full-size pickup market in the U.S. is dominated by the Detroit 3: Ford Motor Co.’s F-150, Fiat Chrysler Automobiles NV’s Ram 1500 and General Motors Co.’s Chevy Silverado. Japanese automakers have spent two decades and billions of dollars to get in on the gravy train, but U.S. brands still control almost 92% of the half-ton segment, according to IHS Markit.“The design will be questioned, but over time the specs will help win over pickup loyalists,” said analyst Ben Kallo of Robert W. Baird. “But the volumes are expected to be low, and the Model 3 and Model Y continue to be the focus.”(Updates with shares trading after market opening Friday in fifth paragraph.)\--With assistance from Thuy Ong, Natnicha Chuwiruch and Derek Wallbank.To contact the reporters on this story: Dana Hull in San Francisco at firstname.lastname@example.org;Ed Ludlow in San Francisco at email@example.comTo contact the editors responsible for this story: Chester Dawson at firstname.lastname@example.org, Ville HeiskanenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
U.S. stocks open modestly higher Friday, after the Dow notched its longest losing period in three months on Thursday, while President Xi Jinping says China wants to work toward a phase-one trade agreement on the “basis of mutual respect and equality.“
Nordstrom led a retail rally, StoneCo surged and Chevron boosted the Dow Jones today as stocks advanced during a pause in U.S.-China trade tension.
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".
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 down 6% on Friday. In the much-anticipated unveiling to cheering fans late on Thursday, Tesla boss Elon Musk had taken aim 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 on Friday 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 as much as 6.3% in New York, the biggest intraday drop since Oct. 3.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.”Morgan Stanley, Adam Jonas(Equal-weight, PT $250)“While some investors may see the design as more fitting for a work site in a Martian colony, true art and design lovers may appreciate that Tesla has tried to bring something totally different to the market here on Earth.”“In this current iteration, we do not believe the Cybertruck poses a significant threat to the established pickup truck market.”“Aesthetics aside, we believe that the truck is competitive in terms of both price and performance versus other carmakers, with 14,000 lbs of towing capacity, 0-60 mph in 2.9 seconds, and adaptive air suspension.”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.”(Updates share move, adds Morgan Stanley comments.)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.
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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 down 6% on Friday. In the much-anticipated unveiling to cheering fans late on Thursday, Tesla boss Elon Musk had taken aim 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.