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Electric carmaker Tesla is scouting out locations for a possible factory in the German state of North Rhine-Westphalia (NRW), Germany's most populous state, daily Rheinische Post reported on Sunday, citing people familiar with the matter. Tesla spokespeople in Europe were not immediately available for comment. Tesla Chief Executive Elon Musk said in a tweet in April that the company was "considering" building a factory in Germany.
The University of Notre Dame’s investment office has “a long-term orientation to our investment partnerships and approach.” But the university made big changes in its U.S.-traded stock investments in the relatively short time frame of the second quarter.
It had been a tumultuous period for the company. A few months earlier WPP was rocked by the departure of Martin Sorrell who, over three decades, transformed the group from a maker of wire shopping carts into a global advertising and marketing powerhouse. The company has disposed of more than 40 of its businesses for about £3.6bn since Sir Martin stood down in April 2018, including Mr Read’s boldest move yet, last month’s sale of WPP’s $3.1bn majority stake in market research business Kantar.
(Bloomberg) -- Walmart Inc. isn’t the only corporation that has seen its Tesla Inc. solar panels catch fire.On Friday, Amazon.com Inc. said a June 2018 blaze on the roof of one of its warehouses in Redlands, California, involved a solar panel system that Tesla’s SolarCity division had installed. The Seattle-based retail giant said by email that it has since taken steps to protect its facilities and has no plans to install more Tesla systems.Tesla also said in a statement it worked with Amazon following the “isolated event” last year that occurred in an inverter at one of the sites. “Tesla worked collaboratively with Amazon to root cause the event and remediate,” it said. “We also performed inspections at the other sites, which confirmed the integrity of the systems,” adding that all 11 Amazon sites are generating energy and are monitored and maintained.News of the Amazon fire comes just three days after Walmart dropped a bombshell lawsuit against Tesla, accusing it of shoddy panel installations that led to fires at more than a half-dozen stores. The claims threaten to further erode Tesla’s solar business at a time when the company is fighting to gain back market share.Walmart and Tesla issued a joint statement late Thursday, saying they were in discussions to resolve their issues. “Both companies want each and every system to operate reliably, efficiently, and safely,” they said. Tesla fell 0.8% in after-hours trading on Friday to $209.75.In the complaint filed Tuesday, Walmart said it had leased or licensed roof space at more than 240 stores to Tesla’s energy unit. Two of the Walmart fires occurred in May 2018. Amazon said it has a very small number of solar systems installed by Tesla.More widely known for its electric cars, Tesla bought panel installer SolarCity three years ago in a $2 billion deal that proved highly controversial. SolarCity’s chief executive officer at the time is the cousin of Tesla CEO Elon Musk, and Musk was the chairman of SolarCity’s board.Also this week, Business Insider reported that Tesla launched an effort to replace a faulty part used in some of its solar panel systems last year. It was unclear whether issues with the component known as a “connector” affected Walmart or Amazon installations.Tesla said in response to the Business Insider story that some connectors manufactured by Amphenol Corp. “experienced failures and disconnections at a higher rate than our standards allow.” Over the past year, the company said, less than 1% of sites with these connectors exhibited abnormal behavior.Amphenol did not respond to a request for comment.(Updates with Tesla’s response in third and fourth paragraphs.)\--With assistance from Brian Eckhouse.To contact the reporters on this story: Dana Hull in San Francisco at email@example.com;Matt Day in Seattle at firstname.lastname@example.orgTo contact the editors responsible for this story: Lynn Doan at email@example.com, Kara WetzelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Ford's recent acquisition could be just what the doctor ordered to attract the future talent it needs as the auto industry rapidly evolves.
PayPal takes on India’s digital payments market as it looks to international markets for growth. India presents a $1.0 trillion opportunity for the company.
Each of the four Big Tech companies under investigation, to varying degrees, faces exposure to antitrust charges. Their vulnerabilities reflect their marketing strengths, from Apple Inc.’s money-minting App Store to Facebook Inc.’s vice-like grip on social media through its acquisition of WhatsApp.
Artificial Intelligence is set to change the world according to several billionaires. Here are seven stocks riding the AI wave.
President Trump raised China tariffs late Friday, as the China trade war spirals. The Dow Jones dipped after plunging in Friday's session. So did Apple, AMD, Tesla and Nike.
Alphabet Inc.'s Google has issued "community guidelines" that discourage employees from debating politics in the workplace, an about-face from its previously open policy. The new rule is an effort to tone done "disruptive" conversations, and hold employees responsible for what they say, the company said. Google is also designing a tool that lets workers flag objectionable internal posts, it said. The move comes after more than a year of protests from conservative politicians and commentators who claim Google has shown liberal bias in digital searches and in its corporate culture, culminating in a Congressional hearing on the topic last month.
Shares of Apple and Silicon Valley's semiconductor companies were pummeled on Friday as President Trump responded to new tariffs from China with a tweet saying he's demanding that American companies "immediately start looking for an alternative to China."
It was a Rorschach test of sorts, in that investors read what they wanted into comments made by Federal Reserve Chairman Jerome Powell today in Jackson Hole, Wyoming. Then President Donald Trump responded.Powell said there is no "rulebook" for a trade war and promised that the Fed would "act as appropriate to sustain the expansion."InvestorPlace - Stock Market News, Stock Advice & Trading TipsTrump, dissatisfied with a lack of stimulative action, tweeted "the Fed did NOTHING," and then followed that tweet with another, saying "Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing […] your companies HOME and making your products in the USA."The meaning and nature of the message wasn't entirely clear, but investors saw the glass as half empty rather than half full. By the time the closing bell rang, the S&P 500 was down to the tune of 2.6%. The Dow Jones Industrial Average fell 2.4%, while the NASDAQ Composite ended the day down 3.0%.Bond prices advanced on Friday, partly as a result of investors seeking safety that stocks can't offer, and partly because at least enough investors suspect another rate cut may be looming. While Powell said little on the matter, the market interpreted his wording and Trump's follow-up as a clue that rates may be moving lower in the foreseeable future.September's Federal Open Market Committee meeting is a regularly scheduled opportunity to change the Fed Funds Rate. Top News in the Stock Market TodayPresuming the trade war being fought between China and the United States in indeed escalating, all companies will be impacted. None may be as hard hit as auto makers like Tesla (NASDAQ:TSLA) and Ford Motor (NYSE:F), however. That's because both still deliver large numbers of vehicles from the U.S. to China, and now face a reinstituted tariff of 25%. General Motors (NYSE:GM) is also a popular brand in China, but with much of its manufacturing for the market being done there, it's able to circumvent the expensive import duties. * 10 Undervalued Stocks With Breakout Potential Still, GM shares were pressured all the same, as Trump also encouraged companies with manufacturing operations in China to relocate that production elsewhere.VMware (NYSE:VMW) Chief Executive Officer Patrick Gelsinger described the cybersecurity market as "broken" Thursday evening, as a prelude to news that it would be simultaneously acquiring Carbon Black (NASDAQ:CBLK) and Pivotal Software (NYSE:PVTL). "The acquisitions announced today will advance our goal of offering more comprehensive and trusted cloud-agnostic solutions," explained Gelsinger.Shareholders aren't quite as convinced the $4.8 billion VMware is laying out for the two companies is money well spent, however. VMW stock fell almost 10% on the news.A long nightmare for Boeing (NYSE:BA) could be ending soon, according to reports from The Seattle Times. The newspaper's website suggested Thursday evening that the beleaguered 737 MAX could be re-certified by the Federal Aviation Administration within the next few weeks. The plane was grounded in the United States, and elsewhere, after a couple of fatal crashes were linked to a safety system that caused confusion for pilots. The solution, however, is a relatively easy recoding of the software that operates the system.The news didn't boost BA stock much, though it did keep it out of the red on a day most other names were losing a lot of ground. Big MoversFoot Locker (NYSE:FL), already losing ground since rolling over in April, lost another 19% on Friday after reporting sales and earnings that fell short of expectations. Operating income of 66 cents per share missed estimates of 67 cents, and were down nearly a dime from year-ago numbers. Sales of $1.77 billion were also down a bit year-over-year, but more than that, came up short of the $1.82 billion analysts had modeled.Friday was a particularly poor day for toy maker stocks Hasbro (NASDAQ:HAS) and Mattel (NASDAQ:MAT), although for different reasons, neither of which was earnings-related.HAS stock ended the day lower by 10% after the company announced it would be acquiring Entertainment One -- the name behind "Peppa Pig," and others -- for $4 billion. Though Entertainment One's lineup is marketable, investors aren't sure this is the right step at the right time for the struggling company, which makes "Star Wars," "Transformers" and "My Little Pony" toys.Mattel, which owns Barbie and Hot Wheels just to name a few, saw its stock slump 7% largely because Hasbro's deal to buy Entertainment One makes it very unlikely it would also be looking to acquire Mattel as well. Some investors were hoping, and even expecting, the two lethargic names in the toy business to team up as a means of propping one another up.Increasingly strained trade ties with China isn't good news for either toy company either.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now The post Stock Market Today: Trump's Tweets Rattle Investors, Foot Locker Trips appeared first on InvestorPlace.
In a joint statement, Walmart and Tesla said they “look forward to addressing all issues” raised in Walmart’s civil suit Tuesday.
Today, the S&P; 500 Index opened 0.5% lower amid reports that China would impose tariffs on $75 billion of US goods—intensifying the US-China trade war.