Tesla Could Be Staring Down a Year of ‘Growing Pains,’ Analyst Cautions

By Emily Bary Wells Fargo automotive analyst says Tesla ‘screens the most at risk’ this earnings season, and he sees various challenges for the year ahead Tesla Inc. is about to offer investors some hints of what’s to come, and one analyst thinks Wall Street should brace for “growing pains.” Wells Fargo analyst Colin Langan expects about 13% growth in Tesla (TSLA) deliveries next year, below the company’s 50% long-term target. The year already hasn’t gotten off to a great start for the electric-vehicle company, which has cut prices in China and paused production in Germany. “There are also macroeconomic headwinds around elevated interest rates& flattening EV adoption,” Langan wrote in a Tuesday note to clients. “Additionally, there are signs of moderating growth in all three key regions.” Tesla is expected to share more about the landscape, and its outlook for the year, when it reports earnings next Wednesday afternoon. […]

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Analysts Estimate MAX 9 Grounding Impact

The grounding of the Boeing 737 MAX 9 is likely to impact 1Q earnings for airlines that fly the plane, Evercore ISI analysts write. United Airlines and Alaska Air could see wider than anticipated 1Q losses as the grounding cuts into flying capacity, the analysts say. Assuming the grounding continues through the end of January and including the impact of recent bad weather, they estimate United’s 1Q loss to widen to 73 cents per share from its previous estimate of a 32 cent per share loss, and Alaska’s to widen to 80 cents per share from the 37 cent per share loss they previous forecast. Still, they say airlines should have an easier time accommodating affected passengers as post-holiday demand slows down.

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Long-Term Nvidia Expectations Still Too High for Neutral Analyst

Nvidia looks like a long-term winner with accelerated computing that can grow at 20% CAGR off of 2022 revenue, but in the two weeks since he initiated coverage of the company with a neutral rating, DA Davidson analyst Gil Luria hasn’t heard anything that will shift his view that consensus estimates and expectations for the company’s 2025 and beyond are too high. He believes a meaningful part of Nvidia ownership currently represents portfolio benchmark risk mitigation, and that investors who previously missed out on gains won’t be keen to fight uphill for shares again.

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Uber Reportedly Working With Tesla to Promote Use of Electric Vehicles Among Drivers

Uber Technologies (UBER) is working with Tesla (TSLA) to promote the use of electric vehicles among its drivers, Axios and Reuters reported Tuesday. As part of its efforts to become emission-free in the US and Canada by 2030, Uber is offering up to $2,000 in incentives to drivers for the purchase of a Tesla Model 3 or Y, the reports said. Uber has started sharing data with Tesla on where charging infrastructure is needed the most, according to the reports. Uber and Tesla are working to address cost of ownership and access to charging, which are the top two reasons why Uber drivers don’t go electric, the reports said, citing Andrew Macdonald, Uber’s senior vice president of mobility and business operations. Neither Uber nor Tesla immediately responded to requests for comment from MT Newswires.

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Tesla Cuts Model Y Prices in Germany

Tesla (TSLA) has lowered prices of its Model Y cars in Germany, according to media reports on Wednesday. Prices of Model Y Long Range and Model Y Performance were slashed by 5,000 euros to 49,990 euros ($54,309) and 55,990 euros, respectively, the reports said. Model Y rear-wheel drive models were also reduced by 1,900 euros to 42,990 euros. The cuts came a week after the EV made similar cuts to Model 3 and Model Y vehicles last week. Tesla did not immediately respond to MT Newswires’ request for comment. Tesla reportedly posted a 9% decline in new registrations to 63,685 vehicles in Germany last year, Reuters reported, citing German government figures. The US EV maker lost its rank as top EV seller Germany to Volkswagen, which now has a market share of nearly 14% against Tesla’s 12%. Shares of the company were down 2.2% in recent premarket activity.

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Google Announces Major Job Cuts in Ad Sales, Shifts Focus to AI and Automation

Google is downsizing its advertising sales team, part of a broader trend of job cuts at the tech giant owned by Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL). This decision highlights the ongoing reduction in workforce across various sectors, as companies increasingly turn to artificial intelligence software and automation to manage tasks more efficiently, Reuters reports. Recently, Google announced layoffs in its Voice Assistant units and hardware teams, including those responsible for Pixel, Nest, and Fitbit products, as well as in its augmented reality division. The company focuses on its customer solutions unit, which caters to medium-level advertiser clients, as a primary area for future growth. This move follows similar layoffs at Amazon.com Inc (NASDAQ:AMZN), which included several hundred employees in streaming and studio operations, and 500 workers at Twitch, its video streaming platform. Previous reports indicated that Google is looking to reorganize its large ad sales unit, which employs around 30,000 people. Sean Downey, who leads ad

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Chevron Lummus Global Awarded New Licensing Contract for HPCL’s Integrated Hydrocracker and Catalytic Dewaxing Unit

CLG’s Continued Excellence in Lube Hydroprocessing Reinforces its Strong Market Leadership RICHMOND, Calif., Jan. 17, 2024 /PRNewswire/ — Chevron Lummus Global LLC (CLG) announced the award of a new licensing contract by Hindustan Petroleum Corporation Limited (HPCL) for the development of a grassroots integrated hydrocracker and catalytic dewaxing unit and a full catalyst reload of their existing lube oil upgrading program (LOUP) at the Mumbai Refinery in India. “Chevron Lummus Global is honored to once again work with HPCL on this transformative project,” said Rajesh Samarth, Chief Commercial Officer of Chevron Lummus Global. “Our deep expertise in hydroprocessing technologies, paired with HPCL’s forward-looking approach, underscores our shared commitment to advancing India’s energy independence and strengthening its position in the premium base oil market.” The integrated hydrocracker and catalytic dewaxing unit will have a nameplate capacity of 550 KTPA and will facilitate the production of Gr. II+ and Gr. III premium base oils. This strategic move will

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Meta Platforms (NASDAQ:META) Stock Analyst Ratings

Meta Platforms (NASDAQ:META) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/17/2024 14.6% Piper Sandler $355 → $415 Maintains Overweight 01/11/2024 29.79% Mizuho $400 → $470 Maintains Buy 01/10/2024 29.79% Mizuho $400 → $470 Maintains Buy 01/09/2024 9.63% BMO Capital → $397 Initiates Coverage On → Market Perform 12/27/2023 15.98% Wedbush $350 → $420 Maintains Outperform 11/22/2023 20.13% Tigress Financial $380 → $435 Maintains Strong Buy 11/14/2023 11.84% Stifel → $405 Reiterates Buy → Buy 10/26/2023 11.84% Truist Securities $390 → $405 Maintains Buy 10/26/2023 10.46% RBC Capital → $400 Reiterates Outperform → Outperform 10/26/2023 -1.97% Piper Sandler $365 → $355 Maintains Overweight 10/26/2023 -3.35% Wedbush → $350 Reiterates Outperform → Outperform 10/26/2023 0.8% Roth MKM $360 → $365 Maintains Buy 10/26/2023 4.94% Wells Fargo $372 → $380 Maintains Overweight 10/26/2023 10.46% Barclays $410 → $400 Maintains Overweight 10/26/2023 13.5% Rosenblatt $372

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UnitedHealth Group (NYSE:UNH) Stock Analyst Ratings

UnitedHealth Group (NYSE:UNH) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/17/2024 10.5% Piper Sandler $584 → $581 Maintains Overweight 01/16/2024 15.06% Stephens & Co. $615 → $605 Maintains Overweight 01/16/2024 13.35% RBC Capital → $596 Reiterates Outperform → Outperform 12/18/2023 -8.71% HSBC $550 → $480 Downgrades Hold → Reduce 12/13/2023 11.26% Stephens & Co. → $585 Reiterates Overweight → Overweight 11/30/2023 16.01% Truist Securities → $610 Reiterates Buy → Buy 11/30/2023 13.35% RBC Capital → $596 Reiterates Outperform → Outperform 11/30/2023 11.26% Stephens & Co. → $585 Reiterates Overweight → Overweight 11/21/2023 12.4% Cantor Fitzgerald → $591 Reiterates Overweight → Overweight 11/20/2023 -4.34% Jefferies $565 → $503 Maintains Hold 10/23/2023 10.12% Morgan Stanley $587 → $579 Maintains Overweight 10/16/2023 13.35% RBC Capital $572 → $596 Maintains Outperform 10/16/2023 11.07% Piper Sandler $580 → $584 Maintains Overweight 10/16/2023 21.72% UBS → $640

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Goldman Sachs (NYSE:GS) Stock Analyst Ratings

Goldman Sachs (NYSE:GS) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/17/2024 29.49% Oppenheimer $481 → $491 Maintains Outperform 01/09/2024 16.04% UBS $382 → $440 Maintains Buy 01/09/2024 11.03% JP Morgan $398 → $421 Maintains Overweight 01/02/2024 30.02% Barclays $437 → $493 Maintains Overweight 12/04/2023 -12.18% Morgan Stanley $329 → $333 Maintains Equal-Weight 11/16/2023 23.42% Oppenheimer $447 → $468 Maintains Outperform 10/19/2023 17.89% Oppenheimer $450 → $447 Maintains Outperform 10/18/2023 16.04% JMP Securities → $440 Reiterates Market Outperform → Market Outperform 10/10/2023 16.04% JMP Securities $450 → $440 Maintains Market Outperform 10/03/2023 -13.23% Morgan Stanley $347 → $329 Maintains Equal-Weight 09/26/2023 18.68% Oppenheimer $461 → $450 Maintains Outperform 09/21/2023 0.22% Citigroup $400 → $380 Maintains Neutral 09/12/2023 18.68% JMP Securities → $450 Reiterates Market Outperform → Market Outperform 09/07/2023 6.28% HSBC → $403 Initiates Coverage On → Buy 08/18/2023 21.58% Oppenheimer $483

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Banking Sector Faces Heightened Cyber Threats, JPMorgan Executive Says

JPMorgan Chase is seeing a surge in attempts to hack into its systems as cybercrime turns into a top concern among banks, says Mary Callahan Erdoes, head of JPMorgan Chase’s Asset & Wealth Management. Hacking attempts have doubled compared with last year to about 45 billion a day, Erdoes says at a panel discussion at the World Economics Forum in Davos, Switzerland. “Fraudsters get smarter, savvier, quicker,” she says. JPMorgan invests $15 billion in technology every year, Erdoes says, adding that the bank employs more engineers than Google or Amazon.

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TSMC Expected to Post 24% Drop in Fourth-Quarter Net Profit — Earnings Preview

Taiwan Semiconductor Manufacturing Co. is scheduled to report fourth-quarter results on Thursday. Here is what you need to know: NET PROFIT: TSMC is expected to post a 24% drop in net profit to 224.67 billion new Taiwan dollars (US$7.14 billion) for the quarter ended Dec. 31, according to a poll of analysts by S&P Global Market Intelligence. That compares with NT$295.90 billion in net profit a year earlier. REVENUE: Fourth-quarter revenue was at NT$625.53 billion, based on the sum of monthly revenue disclosed by the company. The stock has fallen 2.2% so far in 2024 through Tuesday, following a 13% rise in the final quarter of last year. Shares closed at NT$580.00 on Tuesday. WHAT TO WATCH: –TSMC is expected to offer earnings guidance for the first quarter, in addition to its results for the fourth quarter of 2023. Investors are closely watching for any signs of a recovery from

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