Nvidia (NYSE: NVDA) which was anyway the best-performing S&P 500 stock in 2023 is up sharply in US premarket price action today and looks set to hit a new record high as markets give a thumbs up to its fiscal second quarter 2023 earnings. Wall Street analysts have also raised the stock’s target price after...

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Chinese EV company Xpeng Motors (NYSE: XPEV) which posted a record net loss of 2.8 billion yuan in Q2 2023 has said that its partnership with auto giant Volkswagen and continued cost cuts would help it narrow losses. While Xpeng Motors posted revenues in line with analysts’ estimates, its Q2 losses were wider than expected...

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Chinese EV company Xpeng Motors (NYSE: XPEV) which posted a record net loss of 2.8 billion yuan in Q2 2023 has said that its partnership with auto giant Volkswagen and continued cost cuts would help it narrow losses. While Xpeng Motors posted revenues in line with analysts’ estimates, its Q2 losses were wider than expected...

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After a strong first-half performance amid the tech rally US stocks have weakened in August and the Nasdaq Composite has lost 8% while the S&P 500 is down 5.2%. Both the indices have fallen for three consecutive weeks as fears rise. Incidentally, the fall in US stocks is coming at a time when the Bank...

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China is officially targeting GDP growth of “around 5%” in 2023. The world’s second-largest economy expanded at only 3% last year amid its controversial zero-COVID policy but reversed the policy late last year. Meanwhile, after a flurry of weak economic data several brokerages have raised concern over China’s growth outlook and expect it to miss...

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Tesla (NYSE: TSLA) has lowered the prices of select Model Y variants in China and launched lower-priced versions of Model S and Model X in the US as the Elon Musk-run company looks to spur sales. Tesla lowered the prices of two variants of its Model Y crossover in China by around $2,000 and offered...

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X which was formerly known as Twitter has been in the news ever since billionaire Elon Musk acquired the company last October and took it private. He later quit as the company’s CEO and hired former NBC Universal advertising executive Linda Yaccarino to lead the company. In a recent interview, Yaccarino said that she has...

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Rivian (NYSE: RIVN) reported its Q2 2023 earnings yesterday beating on both the topline as well as the bottomline and also raised its 2023 production guidance. Here are the key takeaways. RIVN reported revenues of $1.12 billion which was ahead of the $1 billion that analysts expected. Its gross margins were negative 37% in the...

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Lucid Motors (NYSE: LCID) released its Q2 earnings after the close of markets yesterday. The stock is trading higher in US premarkets today despite the company missing Q2 revenue estimates. Lucid Motors posted revenues of $150.9 million in the quarter which was significantly below the $175 million that analysts expected. The company’s net loss however...

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US stocks are sharply lower this morning after credit rating agency Fitch lowered US sovereign debt rating. Economists aren’t too perturbed by the downgrade though. Fitch lowered the long-term US sovereign debt rating from AAA to AA+. The rating agency had placed the rating on a “negative watch” in May amid the drama over the...

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Chinese electric vehicle (EV) companies including NIO (NYSE: NIO), Xpeng Motors (NYSE: XPEV), and Li Auto (NYSE: LI) have reported their July delivery reports. Here are the key takeaways from the reports. Notably, while US-based EV companies like Tesla (NYSE: TSLA), Lucid Motors (NYSE: LCID), and Rivian (NYSE: RIVN) report their deliveries on a quarterly...

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Last week, Ford (NYSE: F) released its Q2 2023 earnings. One of the key takeaways from the report was that the automotive giant is going slow on its electric vehicle (EV) expansion plan and simultaneously focusing on hybrids. To begin with, Ford reported a solid set of numbers in the second quarter and its revenues...

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Alphabet stock (NYSE: GOOG) is trading sharply higher in US premarket price action today after it reported better-than-expected earnings for the second quarter of 2023. Here are the key takeaways from the earnings report and Wall Street’s reaction. Alphabet’s revenues rose 7% YoY to $74.6 billion which was ahead of the $72.82 billion that analysts...

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Billionaire Elon Musk has rebranded Twitter as X and replaced the iconic blue bird with an X logo. The social media platform meanwhile continues to grapple with multiple troubles even as Musk seems to be pivoting it to become an everything app like WeChat in China. Last year, Musk reportedly told Twitter employees that “You...

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Cathie Wood of ARK Invest has said that her Innovation ETF (NYSE: ARKK) has exited all Chinese stocks. Here are the key takeaways. To begin with, after massive losses in 2021 and 2022, ARKK has rebounded in 2023 and is up around 50% – outperforming the broader market. The ETF has assets of around $9...

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