Tesla ‘s massive 50% sell-off since December is nowhere near done as the electric vehicle company faces the possibility of a year of no growth, according to Wells Fargo. Analyst Colin Langan at the bank trimmed his 12-month price target nearly 4% to $130 from $135 on Friday and reiterated his underweight rating. His new forecast represents 46% downside from current levels for Tesla shares. The Street’s consensus price target on Tesla is $372. “We’ve been bearish on TSLA sales & margins since last year, and the fundamentals concerns were largely correct,” Langan said in a note to clients. “The…
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Linda McMahon, President Donald Trump’s nominee to be Secretary of Education, testifies during her Senate Health, Education, Labor and Pensions Committee confirmation hearing in the Dirksen Senate Office Building on February 13, 2025 in Washington, DC. Win Mcnamee | Getty ImagesMore than 50 universities are being investigated for alleged racial discrimination as part of President Donald Trump’s campaign to end diversity, equity and inclusion programs that his officials say exclude white and Asian American students.The Education Department announced the new investigations Friday, one month after issuing a memo warning America’s schools and colleges that they could lose federal money over “race-based…
Near the end of 2022, New York Liberty star Breanna Stewart took a meeting at a New York City steakhouse to hear an idea to change the landscape of professional women’s basketball.Stewart was preparing to spend part of another WNBA offseason abroad. Alex Bazzell, the husband of Minnesota Lynx star Napheesa Collier, had seen his wife play multiple seasons overseas, too. He pitched Stewart on a business proposition to keep most WNBA stars in the U.S. during the winter months instead.Over red wine, Stewart was immediately interested in the concept of Unrivaled, a professional women’s 3×3 league that would promise…
It was not even three months ago when it seemed like Canadians couldn’t wait for an end to Prime Minister Justin Trudeau’s nearly decade-long stint as their leader. On Jan. 6, he announced his intention to step down with polls showing most Canadians deeply unhappy with the state of their country.But as Mr. Trudeau, 53, officially resigned on Friday, his fortunes have taken a remarkable turn thanks to a prolonged campaign of aggression against Canada by President Trump.Through tariffs that could lead to economic devastation and repeated verbal attacks on Canada’s sovereignty, Mr. Trump has ignited a wave of patriotism,…
Docusign rose more than 14% after reporting stronger-than-expected earnings after the bell Thursday.”We’ve really stabilized and I think started to turn the corner on the core business,” CEO Allan Thygesen said Friday on CNBC’s “Squawk Box.” “We’ve become much more efficient.”Here’s how the company performed in the fourth quarter FY2025 compared to LSEG estimates:Earnings per share: 86 cents vs. 85 cents expectedRevenue: $776 million vs. $761 millionThe earnings beat was boosted in part by the electronic signature service’s new artificial intelligence-enabled content called Docusign IAM, a platform for optimizing processes involving agreements.”It’s tremendously valuable,” Thygesen said. “It’s opening a treasure…
Peloton’s already industry-leading position could grow by capturing more corners of the fitness sector, according to Canaccord Genuity. The firm upgraded the fitness software and equipment stock to buy from hold in a Thursday note, and reiterated its $10 per share price target. Canaccord’s 12-month objective equates to nearly 65% upside from Peloton’s close of $6.07 on Thursday. Peloton stock has pulled back more than 32% in just the past month. PTON YTD mountain Peloton stock in 2025. Canaccord analyst Susan Anderson said Peloton has “regained its footing” in the fitness sector, and argued the company could emerge as a…
Consumer sentiment took another hit in March as worries intensified over inflation and a slumping stock market, according to the University of Michigan’s latest sentiment survey released Friday.The survey posted a mid-month reading of 57.9, which represents a 10.5% decline from February and was below the Dow Jones consensus estimate for 63.2. The reading was 27.1% below a year ago and was the lowest since November 2022. While the current conditions index fell a less severe 3.3%, the expectations measure for the future was off 15.3% on a monthly basis and 30% from the same period in 2024.In addition, fears…
Traders work on the floor of the New York Stock Exchange on March 13, 2025. NYSE After Thursday’s sell-off, the S&P 500 has joined the Nasdaq Composite in correction territory, which is typically taken to mean a decline of 10% or more from a recent high.Investors looking to distract themselves with a drink might, in fact, feel even more pain. U.S. President Donald Trump threatened to impose a 200% tariff on alcoholic products from European Union nations, in response to the latter lifting its prior suspension on levies on American whiskey.With Trump remaining adamant on tariffs despite the three-week market rout,…
Chinese battery giant Contemporary Amperex Technology (CATL), pictured here on April 2, 2020, broke ground on its first overseas factory in Germany in late 2019 and plans to add up to 2,000 jobs there by 2025.Martin Schutt | picture alliance | Getty ImagesChina’s Contemporary Amperex Technology posted a 9.7% drop in annual revenue, a stock exchange filing showed on Friday, as a price war in the mainland electric vehicle market ensnared the world’s largest battery maker.Revenue for the 12-month period ending December came in at 362 billion yuan ($50.01 billion), just under a LSEG mean estimate of 368.7 billion yuan.…
