A former Tesla employee told Reuters "about 400 people" in a range of positions were shown the door. As Business Insider's Bryan Logan reported, Tesla declined to confirm how many people were fired. Business Insider spoke to experts who said the firings at Tesla are hardly indicative of a trend in the workplace.
However, he pointed out that there are stark differences in market conditions today compared to how things were 30 years ago. "We have from a purely technical point of view, more favorable conditions than in '87," he said. "The market is not as overbought as it was at that time." But that doesn't mean the contrarian investor is placing his bets on stock markets. "We are less overbought but we have more unfavorable macroeconomic conditions," he explained. "If I look at monetary and economic conditions around the world, the level of debt is much higher now, the level of government debt is much higher." Faber still sees similarities in market conditions with 1987. "A lot of people were accustomed
Earnings season can be a euphoric time for stocks. A big part of that has to do with how investors approach earnings season. When investors anticipate strong results, stocks tend to rally heading into the season only to fade as results are actually reported, the firm says.
Volvo Cars and its Chinese parent have unveiled their first Polestar high performance electric car and pledged to invest 5 billion yuan ($760 million) in the brand, gearing up for intense competition to sell greener cars in the world's biggest auto market. The Swedish car maker took the wraps off the "Polestar 1", a luxury four-seater hybrid coupe in a ceremony in Shanghai - its first salvo as it positions the brand as a competitor to Tesla Inc and Mercedes's AMG division. China has said it wants electric and plug-in hybrid cars to make up at least a fifth of Chinese auto sales by 2025, spurring a raft of investment plans from global automakers in electric vehicles, particularly new joint ventures with Chinese firms.
It's time for change at General Electric (GE) , according to TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer. "GE, right now, reflects a 15 cent cut in the quarterly dividend," Cramer said, referring to investors' fears that GE may cut its dividend in an effort to turnaround the company. The company reports quarterly earnings on Friday. Watch all of Jim Cramer's latest videos, right here: Jim Cramer Reveals When to Buy Shares of Goldman Sachs Video: Jim Cramer Reacts to Netflix's Earnings Finding the Next Amazon Has Been a Theme of This Market: Jim Cramer
Jim Cramer finds that traders tend to give investors buying opportunities when they flee certain stocks, like the battleground that is Apple.
General Electric (GE) is set to report earnings on Friday morning, and there's some hope that whatever it has to say could help reverse the slide that's made it the worst performing stock in the Dow Jones Industrial Average this year. General Electric's dividend became a topic of debate back in May, when Deutsche Bank's John Inch, who had earlier downgraded the stock, wrote that he believed "the stage is being set for GE to cut its common dividend, likely as part of an earnings 'reset' lower." Some have tried to allay those fears, but it now appears that many expect a cut to happen. The bottom line is that GE currently doesn’t generate enough US cash to cover its dividend and other capital commitments. Hence, in order to better align the dividend with cash generation from core operations, we believe GE should consider lowering the dividend to $5bn.
General Electric may likely cut its dividend soon as it looks to simplify its businesses and streamline its accounting under a new CEO after years of "financial engineering," according to Goldman Sachs on Tuesday. "Our fresh look at GE's fundamentals leaves us incrementally bearish, as we see a significant EPS/FCF reset and a potential dividend cut to come," wrote analyst Joe Ritchie in the report. Ritchie kept his neutral rating, but dropped his 12-month price target to $23 from $26.
MONTREAL/PARIS (Reuters) - Airbus SE said on Monday it would acquire a majority stake in Bombardier Inc's CSeries programme in a deal that the Canadian plane-and-train-maker said would boost sales and position the company strategically against a potentially costly U.S. trade dispute with Boeing Co . The deal, which would come at no cost for Airbus, would give the European planemaker a 50.01 percent interest in CSeries Aircraft Limited Partnership (CSALP), which manufactures and sells the jets, the companies said. Airbus Chief Executive Tom Enders said the company has offered to assemble some of the narrowbody jets at its U.S. plant in Alabama for orders by American carriers.
Bruce Berkowitz, Sears Holdings Corp.’s largest outside shareholder, is stepping down from the board, a move that sent the stock tumbling on Monday. Berkowitz, the chief investment officer and founder of Fairholme Capital Management, will depart at the end of this month -- less than two years after he joined the board. Long a passive investor in Sears, Berkowitz became a director in February 2016 after saying he wanted to take a more active role at the company.
Perhaps it’s because trading stocks can often mirror the thrill of winning big at the blackjack tables, or maybe it’s because Las Vegas conjures images of the world’s most flashy brands and businessmen. MCRI is currently sporting a Zacks Rank #2 (Buy).
For months, the war in Washington to repeal and replace the Affordable Care Act, or Obamacare, has gripped the nation, along with concerns about how it might change health care for people who buy private insurance. "Funding for Medicare would likely have been cut by attempts to repeal the Affordable Care Act," says Andrew Scholnick, senior legislative representative on AARP's federal legislative team. Although unable to pass bills that would have done away with Obamacare, the details of Republicans' proposals offer insight into the direction they'd like health care to move, as well as the continuing efforts on the part of Congress and the Trump administration to remake the American health care system.
Only one analyst asks about the scandal that has gripped WashingtonReutersTim Sloan, CEO of Wells Fargo & Company, didn’t get much probing from sell-side analysts about the bank’s sales practices. Just a few weeks ago, several members of Congress raked the bank’s CEO, Tim Sloan, over the coals for the ongoing customer fraud scandals that have engulfed the bank for over a year. In fact, it took over half an hour for the call’s sole “sales practices” question, from Matthew O’Connor of Deutsche Bank, to emerge.
Tesla is trying to disguise layoffs by calling the widespread terminations "performance-related," allege several current and former employees. On Friday, the San Jose Mercury News first reported that Tesla had dismissed an estimated 400 to 700 employees. That number represents between 1 and 2 percent of its entire workforce. But one former employee, citing internal information shared by a manager, said the total number fired is higher than 700 at this point. Most of the people let go from Tesla so far have been from its motors business, said people familiar with the matter. They were not from other initiatives like Tesla Powerwall, which is helping restore electricity to the residents of Puerto
Former Tesla factory workers have filed two separate lawsuits claiming they experienced racial harassment and discrimination. Tesla said the workers didn't file official complaints of racial discrimination during their employment. Three former workers at Tesla's Fremont, California, factory have filed a lawsuit against the company over claims they experienced racial discrimination and harassment on the job.
Pacific Oil and Gas (NYSE:PCG) shares were moving higher during Tuesday’s session, following a 7% drop Monday. The stock has seen a recent string of losses on the possibility that the company may be responsible for starting the California wildfires. PG&E said in an SEC filing Friday it has "$800 million in liability insurance for potential losses," while also noting in the same filing, "that the fires are being investigated by the California Department of Forestry and Fire Protection (Cal Fire), including the possible role of power lines and other facilities of Pacific Gas and Electric Company, a subsidiary of PG&E Corporation. When we reached out for comment, PG&E told FOX Business: “We’ve received the Commission’s request and will comply with the request.
Jim Sinegal, senior equity analyst, Morningstar, says companies and executives like JP Morgan's Jamie Dimon are working with blockchain technology even if they are skeptical about Bitcoin.
The indices are looking to keep the rally alive as the Dow inches toward 23,000. Meanwhile, traders go through a number of earnings, as Goldman Sachs blows by analysts’ estimates. Yahoo Finance’s Alexis Christoforous, Andy Serwer, Justine Underhill, Sheryl
The company then reported a strong quarterly result, beating on earnings per share, revenue, domestic subscriber growth and international subscriber growth estimates. The quadruple-whammy may have some investors assuming the stock is taking off Tuesday, but so far Netflix stock is close to flat. After the results, a slew of higher price targets have flooded the headlines.
Jim Cramer says Allergan (AGN) is "the cheapest big-capitalization drug stock in the universe," so he'll buy more shares of the lackluster drugmaker for his charitable trust if the price drops below $200. "Allergan just been an out-and-out disappointment, [so] why hold it? Ennui? Lack of discipline?" Cramer asked during an exclusive conference call with members of his Action Alerts PLUS club for investors. No! We hold Allergan because through sheer hatred, it has become the cheapest big-capitalization drug stock in the universe." Allergan has shed some 34% since peaking at $340.34 intraday in July 2015, closing at $205.52 on Friday. Cramer's charitable trust is down some 23% on its Allergan stake,
T-Mobile U.S. Inc and Sprint Corp plan to announce a merger agreement without any immediate asset sales, as they seek to preserve as much of their spectrum holdings and cost synergies as they can before regulators ask for concessions, according to people familiar with the matter. While it is common for companies not to unveil divestitures during merger announcements, T-Mobile's and Sprint's approach shows that the companies plan to enter what could be challenging negotiations with U.S. antitrust and telecommunications regulators without having made prior concessions.
Shares of Apple Inc. shot higher Monday, after the technology giant was upgraded at KeyBanc Capital, which said an aggressive move to a more “subscription-like” strategy can offset stagnating iPhone sales growth. Analyst Andy Hargreaves raised his rating on Apple to overweight, the equivalent of buy, after being at sector weight for the past 4 1/2 months. Hargreaves downgraded Apple in June, on concerns over a lack of growth in iPhone unit sales.
How quiet is this record-setting stock market? By at least one measure, the S&P 500 index is on pace to register is lengthiest period of quiescence in more than two decades—and perhaps ever. Just eight more trading sessions sans a 3% daily drop—a fairly normal occurrence even in a bull market—and the S&P 500(^GSPC) will mark history, matching the longest streak by Friday and breaking it next week.
Impressive performance of wealth management division and higher investment banking fees drove Morgan Stanley’s MS third-quarter 2017 earnings of 93 cents per share, which handily outpaced the Zacks Consensus Estimate of 81 cents. The reported figure was
European stocks open mixed on Tuesday as investors shift focus to rising commodity prices in the reignited global reflation trade and prepare for a key reading on consumer prices in the United Kingdom. Bank of England Governor Mark Carney is slated to speak to U.K. lawmakers on parliament's Treasury Select Committee later in the morning. Airbus SE ( (EADSY) ) will take a majority stake in Bombardier Inc's ( (BDRBF) ) C-Series jetliner division, the group said late Monday in Paris, as the Canadian group continues to grapple with the United States over accusations of unfair state support from the Canadian government. Kobe Steel Ltd ( (KBSTY) ) said Tuesday that the U.S. Department of Justice has