Check out the companies making headlines in premarket trading. Automakers — Legacy carmakers extended declines as investors worried about the lack of resolution on President Donald Trump’s controversial tariff policy announced last week. Stellantis plunged more than 9%, while Ford slid nearly 3%. General Motors pulled back 5% after Bernstein downgraded the stock to underperform from market perform. Tesla — Stock in the electric vehicle company sank nearly 7% amid the broader market wreckage. The Elon Musk-helmed EV firm has pulled back more than 40% in 2025 and nearly 8% in April, on a combination of supply chain headwinds due…
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Wedbush analyst Daniel Ives slashed his price target on Tesla as the electric vehicle maker’s leader faces a brand crisis, while the company also faces pressure from President Donald Trump’s latest tariffs. Ives, who has been one of Tesla’s biggest bulls on Wall Street, slashed his 12-month price target to $315 from $550. The new forecast still represents upside of nearly 32% from Tesla’s Friday close. Shares of the electric vehicle stock have tumbled 41% this year on concern that CEO Elon Musk’s growing political profile could hurt sales. The company last week reported that first-quarter vehicle deliveries declined by…
U.S. President Donald Trump’s adviser Elon Musk reacts on the day of a rally in support of a conservative state Supreme Court candidate of an April 1 election in Green Bay, Wisconsin, U.S. March 30, 2025. Vincent Alban | ReutersTechnology stocks fell for a third session on Monday, continuing the momentum of last week’s devastating selloff after President Donald Trump stood by his sweeping global tariff plans and global market turmoil intensified.Tesla led the Magnificent Seven’s losses, dropping 10%. Nvidia fell 7%. Apple, which relinquished more than $533 billion in market value on Thursday and Friday combined and dropped below a…
Nintendo on Wednesday unveiled details for the Switch 2. It’ll include a bigger screen and controllers and is a faster version than its predecessor, which sold more than 150 million units since its 2017 release.The Switch 2 will hit store shelves on June 5 for $449.99, up from $300 for the original Switch. Like the first Switch, gamers will be able to use the Switch 2 as both a handheld console and hook it up to a television. Nintendo on Friday said it would delay preorders for the device following President Donald Trump’s “reciprocal tariffs.”The device will launch with the…
President Trump’s announcement last week that he will impose a 20 percent tariff on goods coming from the European Union sent shock waves across the 27-nation bloc, the latest move in an unfolding trade war that is tearing the close partners apart.This week, Europe will push ahead with its first countermaneuver — one of potentially several to come.E.U. officials have spent the last several weeks refining a list of retaliatory tariffs that they plan to put into place on April 15. Member states’ foreign and trade ministers were meeting to discuss U.S. and E.U. relationships in Luxembourg on Monday, with…
Here are Monday’s biggest calls on Wall Street: Bernstein reiterates Nvidia as outperform Bernstein said shares of Nvidia are compelling. “We are not sure where NVDA (or anything else) will bottom in the near term. But we do believe the AI narrative is still real. And once things do settle down (hopefully soon!) the stock at these levels is probably worth a look. We rate NVDA Outperform.” Wedbush reiterates Apple as outperform Wedbush lowered its price target on the stock to $250 per share from $325. “At the current situation we do not expect most tech companies to give any…
A Spirit Airlines aircraft prepares to depart from the Austin-Bergstrom International Airport on November 13, 2024 in Austin, Texas.Brandon Bell | Getty ImagesTed Christie, CEO of Spirit Airlines, is stepping down from his role leading the embattled carrier, effective Monday, the company said.A group of several company executives — Chief Financial Officer Fred Cromer, Chief Operating Officer John Bendoraitis and General Counsel Thomas Canfield — has been tapped to lead the airline until a replacement is found.Spirit filed for bankruptcy protection in November after years of mounting losses, a failed merger, increased competition and more demanding consumer tastes.The budget carrier, which had reshaped…
A Boeing 767-332(ER) from Delta Air Lines takes off from Barcelona El Prat Airport in Barcelona on Oct. 8, 2024.Joan Valls | Nurphoto | Getty ImagesWaning travel from Canada. Signs of weaker demand across the Atlantic. Mass government layoffs. Tariffs. Consumers pulling back on travel bookings. The worst stock market swoon since 2020. All are signs of concerns for the airline industry.U.S. airlines will likely cut their 2025 outlooks when they report earnings starting this week, analysts say, pointing to cracks in demand for travel, which customers had prioritized even through years of inflation.”Clearly, things are softer than they were…
U.S. President Donald Trump’s tariffs and subsequent actions by other nations have cast a shadow over investors’ portfolios. Markets largely fell all around the world following the announcements, and the sell-off has extended into Monday. Trump and his administration has been defiant, with the U.S. president saying “it won’t be easy” and urging Americans to “hang tough” in a Truth Social post late Friday. Over the weekend, the European Union was reported to also be readying tariffs, targeting up to $28 billion of U.S. imports, marking the latest escalation in this conflict. China and Canada had also announced retaliatory measures last week. With such market losses, a predicted rise in…
It’s time to leave shares of General Motors in the rearview mirror as tariffs weigh on the auto sector, according to Bernstein. The investment firm downgraded the automaker to underperform from market perform. Analyst Daniel Roeska also cut his price target to $35 from $50. The new forecast implies points to a 21% decline from Friday’s close. Roeska pointed to President Donald Trump’s new 25% tariffs on “all cars that are not made in the United States” as a driver for his downgrade. The analyst said these duties — alongside waning consumer sentiment — will pressure General Motor shares going…
