Tesla’s autonomous taxis are not going to save the company’s stock from weak fundamentals this year, according to Wells Fargo analysts. Wells is sticking by its underweight rating on Tesla , a minority view among Wall Street analysts after the stock has soared in the wake of President-elect Donald Trump’s promises to deregulate industry and his close ties to Tesla CEO Elon Musk. The bank sees Tesla shares plunging nearly 70% to $125 over the next year, challenged by persistently weak business fundamentals. Tesla has struggled to boost deliveries despite price cuts and faces intense competition from Chinese electric vehicle…
Author: usaeverydaylife
Jaap Arriens | Nurphoto | Getty ImagesTikTok plans to shut its app for U.S. users on Sunday, when a federal ban on the social media app could come into effect, unless the Supreme Court moves to block it, sources familiar with the matter said.The outcome of the shutdown would be different from that mandated by the law. The law would mandate a ban only on new TikTok downloads on Apple or Google app stores, while existing users could continue using it for some time.Under TikTok’s plan, people attempting to open the app will see a pop-up message directing them to…
Microsoft Chairman and CEO Satya Nadella speaks during the Microsoft May 20 Briefing event at Microsoft in Redmond, Washington, on May 20, 2024. Nadella unveiled a new category of PC on Monday that features generative artificial intelligence tools built directly into Windows, the company’s world leading operating system.Jason Redmond | AFP | Getty ImagesMicrosoft on Wednesday announced a tier of its Copilot assistant for corporate users with a consumption-based pricing model. The new Microsoft 365 Copilot Chat option represents an alternative to the Microsoft 365 Copilot, which organizations have been able to pay for based on the number of employees…
Prices that consumers pay for a variety of goods and services rose again in December but closed out 2024 with some mildly better news on inflation, particularly on housing.The consumer price index increased a seasonally adjusted 0.4% on the month, putting the 12-month inflation rate at 2.9%, the Bureau of Labor Statistics reported Wednesday. Economists surveyed by Dow Jones had been looking for respective readings of 0.3% and 2.9%.However, excluding food and energy, the core CPI annual rate was 3.2%, a notch down from the month before and slightly better than the 3.3% forecast. The core measure rose 0.2% on…
BlackRock’s assets hit a record high of $11.6 trillion in the fourth quarter of last year as the world’s largest money manager posted a 21% profit jump, with fee income buoyed by stronger equity markets.Assets managed by the New York-based company increased to $11.55 trillion from $10.01 trillion a year earlier and $11.48 trillion in the third quarter.Client assets were buoyed by a U.S. stock market rally after Donald Trump’s presidential election victory in November, with investors betting on lower corporate taxes and deregulation.BlackRock’s quarterly results complete a banner year for the asset manager, which has sought to strengthen its…
Here are Wednesday’s biggest calls on Wall Street: Deutsche Bank upgrades Digital Realty to buy from neutral Deutsche Bank said it sees “enhanced visibility” for the data center company. “Momentum remains at DLR’ s back, with robust demand (AI/hyperscale/ enterprise) and space/power constraints that are unlikely to moderate any time soon creating a highly favorable demand and pricing backdrop (with yields on new developments that continue to improve).” Bernstein reiterates Microsoft and Oracle as outperform The firm said it sees many tailwinds ahead for stocks like Oracle and Microsoft. “As to our coverage we would own Oracle, Microsoft and SAP…
Gov. Kristi Noem’s hearing was postponed last-minuteSouth Dakota Gov. Kristi Noem, holds the name plate from when she served in Congress during the House Natural Resources Committee hearing on H.R. 3397 to “require the Director of the Bureau of Land Management to withdraw a rule of the Bureau of Land Management relating to conservation and landscape health,” in Longworth Building on Thursday, June 15, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesA scheduled confirmation hearing today for South Dakota Republican Gov. Kristi Noem, Trump’s pick for to lead the Department of Homeland Security, was abruptly postponed late Tuesday afternoon.A…
Mediators rushed on Wednesday to clinch a deal between Israel and Hamas on a cease-fire that would release hostages held in Gaza, after more than a year of devastating war that has killed tens of thousands of Palestinians and destroyed much of the enclave. Neither Israel nor Hamas has publicly endorsed the agreement, and Israeli and U.S. officials have said that they were waiting for a final response from Hamas. The Palestinian group said on Tuesday that the negotiations had entered their “final stages.”Negotiators and mediators in Qatar were attempting to address outstanding issues, according to two officials familiar with…
Check out the companies making headlines in premarket trading. JPMorgan Chase — The banking giant reported fourth-quarter results that beat analyst expectations thanks to strong performances from its fixed income and investment banking businesses. The company earned $4.81 per share on revenue of $43.74 billion. Analysts polled by LSEG expected a profit of $4.11 per share on revenue of $41.73 billion. Shares were up more than 1%. Quantum computing stocks — The group rose after Microsoft announced its new Quantum Ready program for businesses, saying: “We are at the advent of the reliable quantum computing era.” Rigetti Computing jumped 8%, and D-Wave Quantum rallied…
Digital Realty Trust could be due for solid gains moving forward as demand for data centers shows little signs of slowing, according to Deutsche Bank. The firm upgraded the data center real estate investment trust to buy from hold, and raised its price target to $194 per share from $185. That forecast implies upside of nearly 12%. Analyst Matt Niknam said momentum has swung in Digital Realty Trust’s favor, and added that the bank’s downgrade of the stock in August 2023 was “somewhat premature.” He now views the stock as the “preferred/most widely held name among the group.” “With robust…
