Elon Musk Seeks Greater Control Over Tesla Ahead of AI Advancements

/ / Consumer Discretionary /

By Mauro Orru Elon Musk said he feels uncomfortable making Tesla a leader in artificial intelligence and robotics without having about 25% voting control of the electric-car maker. Musk said late Monday in a post on X that he wants enough control at Tesla to be influential, but not so much that he couldn’t be overruled. “Unless that is the case, I would prefer to build [AI] products outside of Tesla,” Musk wrote on the social-media platform. The billionaire currently controls about 13% of Tesla, according to FactSet, having previously sold some of his holding in the company to fund his purchase of what was then called Twitter. Tesla shares were down more than 2% in premarket trading Tuesday. The company didn’t immediately respond to a request for comment. Some investors have long been excited about Tesla’s work and plans for deploying AI with driverless cars and humanoid robots. In […]

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Goldman Sachs Gr Q4 GAAP EPS $5.48, Sales $11.32B Beat $9.85B Estimate

/ / Financials /

Goldman Sachs Gr (NYSE:GS) reported quarterly earnings of $5.48 per share which beat the analyst consensus estimate of $3.20 by 71.25 percent. This is a 65.06 percent increase over earnings of $3.32 per share from the same period last year. The company reported quarterly sales of $11.32 billion which beat the analyst consensus estimate of $9.85 billion by 14.90 percent. This is a 6.84 percent increase over sales of $10.59 billion the same period last year.

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Morgan Stanley Fourth Quarter and Full Year 2023 Earnings Results

/ / Financials /

Morgan Stanley Fourth Quarter and Full Year 2023 Earnings Results Morgan Stanley Reports Fourth Quarter Net Revenues of $12.9 Billion, EPS of $0.85 and ROTCE of 8.4%; Full Year Net Revenues of $54.1 Billion, EPS of $5.18 and ROTCE of 12.8% NEW YORK–(BUSINESS WIRE)–January 16, 2024– Morgan Stanley (NYSE: MS) today reported net revenues of $12.9 billion for the fourth quarter ended December 31, 2023 compared with $12.7 billion a year ago. Net income applicable to Morgan Stanley was $1.5 billion, or $0.85 per diluted share,(1) compared with $2.2 billion, or $1.26 per diluted share,(1) for the same period a year ago. Pre-tax income for the fourth quarter includes $535 million of charges or $0.28 per diluted share(1,2) : $286 million related to an FDIC special assessment and a $249 million legal charge related to a specific matter. Full year net revenues were $54.1 billion compared with $53.7 billion a

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Wells Fargo (NYSE:WFC) stock Analyst Ratings

/ / Financials /

Wells Fargo (NYSE:WFC) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/16/2024 23.12% Raymond James $55 → $58 Maintains Strong Buy 01/09/2024 8.26% Deutsche Bank → $51 Downgrades Buy → Hold 01/08/2024 16.75% Baird → $55 Downgrades Outperform → Neutral 01/02/2024 40.1% Barclays $54 → $66 Maintains Overweight 12/14/2023 19.04% Odeon Capital → $56.08 Upgrades Hold → Buy 12/08/2023 -0.23% Piper Sandler $45 → $47 Maintains Neutral 12/06/2023 16.75% Raymond James $52 → $55 Maintains Strong Buy 12/04/2023 14.63% Morgan Stanley $52 → $54 Maintains Overweight 12/01/2023 6.13% Goldman Sachs $45 → $50 Maintains Buy 10/16/2023 14.63% BMO Capital $52 → $54 Maintains Market Perform 09/22/2023 -6.6% Deutsche Bank $44 → $44 Reiterates Buy → Buy 09/07/2023 -4.48% HSBC → $45 Initiates Coverage On → Hold 08/01/2023 10.38% Morgan Stanley $49 → $52 Maintains Overweight 08/01/2023 11.44% Atlantic Equities $50 → $52.5

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United Parcel Service (NYSE:UPS) Stock Analyst Ratings

/ / Industrials /

United Parcel Service (NYSE:UPS) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/16/2024 17.27% Raymond James $170 → $185 Maintains Strong Buy 01/10/2024 20.44% Stifel $180 → $190 Maintains Buy 12/26/2023 -1.74% Daiwa Capital → $155 Downgrades Outperform → Neutral 12/21/2023 -1.11% JP Morgan $165 → $156 Maintains Neutral 10/11/2023 12.84% JP Morgan $186 → $178 Maintains Neutral 10/02/2023 1.43% Susquehanna $173 → $160 Maintains Neutral 09/29/2023 26.78% Raymond James $205 → $200 Maintains Strong Buy 09/29/2023 7.77% HSBC → $170 Initiates Coverage On → Hold 09/28/2023 10.94% Barclays $180 → $175 Maintains Equal-Weight 09/18/2023 16.64% Oppenheimer $195 → $184 Maintains Outperform 09/14/2023 17.27% TD Cowen $190 → $185 Maintains Market Perform 09/12/2023 12.2% B of A Securities $190 → $177 Maintains Neutral 09/12/2023 13.47% Evercore ISI Group $185 → $179 Maintains In-Line 09/12/2023 14.1% Citigroup $200 → $180 Maintains Buy 09/12/2023

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Goldman Sachs Reports Sharply Higher Earnings, Helped by Asset and Wealth Management — WSJ

/ / Financials /

By AnnaMaria Andriotis and Charley Grant Goldman Sachs reported sharply higher profit for the fourth quarter, bolstered by a strong performance in its asset and wealth management business. The bank on Tuesday said quarterly profit was $2.01 billion, up 51% from a year ago. That amounted to $5.48 per share. Analysts polled by FactSet had expected $3.62 per share. Revenue was $11.32 billion, up 7% from a year ago. That beat the $10.8 billion expected by analysts. Like its peers, Goldman had to recognize a special assessment by the Federal Deposit Insurance Corp. The agency charged lenders as a way to refill its coffers from last year’s bank failures. Goldman took a $529 million charge, roughly in line with what it had already predicted. Goldman shares were up nearly 1% in premarket trading. Investors welcomed the report, especially after eight previous quarters of earnings declines. The bank has been engaged

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Apple May Reportedly Avoid Import Ban on Watches With Redesign

/ / Technology /

Apple (AAPL) can bypass an import ban on its newer Apple Watches by removing a blood-oxygen sensor that’s involved in a patent dispute with Masimo (MASI), the US Customs and Border Protection has determined, according to several media reports Monday. Masimo reportedly said in a Federal Circuit filing Monday that Apple told the US Customs and Border Protection agency that its redesigned watches do not contain pulse oximetry features. Apple argued that the redesign would moot findings that the watches contain copyright-infringing technology, reports said. The US International Trade Commission had issued an import ban on Apple’s current Series 9 and Ultra 2 watches, stemming from allegations that the devices’ blood-oxygen monitors infringe two Masimo patents. The trade agency has yet to give an opinion on the CBP’s decision. Apple, Masimo, CBP and the ITC did not immediately respond to MT Newswires’ requests for comment.

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Goldman Sachs’ Q4 Earnings, Revenue Increase

/ / Financials /

Goldman Sachs (GS) reported Q4 earnings Tuesday of $5.48 per diluted share, up from $3.32 a year earlier. Analysts polled by Capital IQ expected $3.93. Revenue for the quarter ended Dec. 31 expressed as the sum of net interest income and total noninterest income was $11.32 billion, up from $10.59 billion a year earlier. Analysts surveyed by Capital IQ expected $10.96 billion.

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Morgan Stanley 4Q Revenue Increases, Sees Lift in Institutional Securities

/ / Financials /

Morgan Stanley’s 4Q revenue of $12.9 billion jumps about $150 million from the prior year, with a lift from its institutional securities business leading the way. The bank says institutional securities saw net revenues for the quarter of $4.9 billion compared to $4.8 billion a year earlier, adding that investment banking revenue was up 5% from a year ago. Revenue in its wealth management business was essentially unchanged from a year ago at $6.6 billion, with the company noting that asset management revenues increased from the prior year on higher asset levels and the impact of positive fee-based flows. Investment management revenue at $1.5 billion was largely unchanged from a year earlier, with Morgan Stanley highlighting that asset management and related fees increased from the prior year on higher average assets under management driven by increased asset values.

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