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Tesla stock (NYSE: TSLA) is up in US premarket price action after the company raised prices across all models barring Model 3 in the US. Also, Elon Musk said that he would step down as Twitter’s CEO. This is the second price hike by Tesla in less than a month and the company raised the…
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As was widely expected the Fed raised rates by 25 basis points yesterday which took the Fed funds rate to 5.0%-5.25%. The US central bank also signaled that it might be the last hike of the current tightening cycle. It is the tenth-rate hike in the ongoing tightening that started in March 2022 with a…
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Coca-Cola (NYSE: KO) stock is trading higher in US premarket trading today after the company reported better-than-expected earnings for the first quarter of 2023. Here are the key takeaways. Coca-Cola reported revenues of $10.96 billion in the March quarter which was 5% higher YoY and ahead of the $10.8 billion that analysts were expecting. The…
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Tesla’s CEO Elon Musk is reportedly building an AI startup to take in ChatGPT’s parent company OpenAI. While Musk was among OpenAI’s co-founders he has criticized the company and was also a signatory to a letter calling for a pause on AI. The Financial Times reported that Musk is in talks with several Tesla and…
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Former Twitter executives have sued the social media company seeking reimbursements of over $1 million related to legal expenses. The lawsuit was filed by Parag Agarwal, Twitter’s former CEO, Ned Segal, Twitter’s former CFO, and Vijaya Gadde who was the company’s former chief legal officer. Musk fired the company’s top executives soon after he acquired…
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EV (electric vehicle) startup Arrival (NYSE: ARVL) has announced a merger with Kensington Capital Acquisition Corp. V amid dwindling cash. Here are the key takeaways. Notably, usually SPACs hunt for unlisted companies which then go public through a reverse merger with these blank cheque companies. Arrival also listed in March 2021 after it merged with…
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UBS has agreed to buy Credit Suisse for $3.2 billion in a deal that had the blessings of Swiss regulators. Amid the banking crisis, agencies have been scrambling to instill confidence in the banking system. Over the weekend there were reports that UBS wanted to buy Credit Suisse for only about $1 billion which was…
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Zoom Video Communications (NYSE: ZM) stock is trading higher in US premarket price action today after it reported better-than-expected earnings for its fiscal fourth quarter of 2023 and also provided upbeat guidance. Zoom reported revenues of $1.12 billion in the fiscal fourth quarter that ended in January. The revenues rose 4% YoY on a reported…
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Activist investor Nelson Peltz whose firm owns Disney shares is pushing for a board seat which the company has opposed. Disney might face a proxy fight even as the company’s CEO Bob Iger tries to turn around the business. Peltz runs the Trian Fund Management which took an $800 million stake in the company in…
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Tesla (NYSE: TSLA) stock had a horrid time in 2022 and continues to look weak in 2023 as well. However, TSLA bulls are not too perturbed and see the stock rising sharply from the current price levels. Last year, Tesla stock crashed 65%. The sell-off only intensified in December and it was the worst month…
