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Ford (NYSE: F) has halted the production and shipments of its F-150 Lightning pickup due to a battery issue. It looks like another trouble for the company after its CEO Jim Farley rued “execution” woes during the Q4 2022 earnings call. Ford spokeswomen Emma Bergg said, “As part of our pre-delivery quality inspections, a vehicle…
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US stocks surged yesterday and look set for fifth consecutive weeks of gains after the Fed slowed down its pace of interest rate hikes and announced a 25 basis point rate hike. In the December meeting, the Fed raised rates by 50-basis points. Prior to that, the US central bank had raised rates by 75-basis…
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Apple (NYSE: AAPL) would release its earnings for the fiscal first quarter of 2023 early next month. Here’s how Wall Street sees the stock ahead of the earnings release. 2022 was a tough year for Apple and its FAANG peers. AAPL stock slumped 28% but in a solace for investors, it was the best-performing FAANG…
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Lucid Motors (NYSE: LCID) released its Q4 2022 delivery report yesterday. The company produced 3,493 cars in the quarter which took its 2022 production to 7,180. The annual production was higher than what the company had forecast. Lucid Motors guided for 2022 deliveries of between 6,000-7,000 cars. The company had originally guided for production of…
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Yesterday, the US Federal Reserve released the minutes of its December meeting where it had raised rates by 50 basis points as widely expected. Here are the key takeaways from the minutes of the Fed’s December meeting. The minutes state that “incoming data showed nascent signs of a moderation in inflationary pressures.” Notably, the headline…
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Yesterday, Rivian (NYSE: RIVN) released its fourth-quarter production and delivery report. It missed its toned-down guidance of producing 25,000 cars in the year. Rivian produced 10,020 vehicles in the fourth quarter and delivered 8,054. In 2022, it produced 24,337 cars and delivered 20,332 of these. The company’s production fell short of its guidance. Notably, Rivian’s…
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Netflix stock (NYSE: NFLX) has rebounded over 78% from its 2022 lows even as fellow FAANG stocks are languishing near their 52-week lows. CFRA, which was bearish on the stock so far has double-upgraded NFLX now. CFRA analyst Kenneth Leon double-upgraded Netflix stock from a sell to a buy while raising his target price to…
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2022 turned out to be a terrible year for EV (electric vehicle) stocks. Yesterday, several EV stocks including Rivian, Lucid Motors, Arrival, and Lordstown Motors hit record lows. Other EV stocks like Lion Electric, Canoo, Fisker, and Nikola are also a tad short of their record lows. Even Tesla stock has slumped this year and…
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Chinese EV (electric vehicle) stocks including NIO and Xpeng Motors are trading lower in US premarket price action today amid reports that Tesla has suspended production in China. Separately, NIO has lowered its fourth-quarter delivery guidance. Over the last couple of weeks, there have been multiple reports which said that Tesla is looking to lower…
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Lucid Motors stock (NYSE: LCID) is trading higher in US premarket price action today after the company announced that it has completed the at-the-market stock offering. The stock hit its all-time low in regular trading yesterday. In its release, Lucid Motors said that it raised gross proceeds of around $600 million by selling over 56.2…
