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Tag Archives: tesla

Ford Misses Wall Street Expectations for Q3 2023 amid Pending Deal

The recent work stoppage by the United Auto Workers (UAW) union impacted the company’s ability to meet its financial targets. On Thursday, October 26, Ford Motor Co (NYSE: F) reported its Q3 2023 earnings while missing Wall Street expectations. The company has been restructuring its operations and regrouping after the conclusion of nearly six weeks of US labor strike that cost the company a staggering $1.3 billion. Ford in Q3 2023 In the third quarter, Ford reported a shift to net income,...

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Mercedes-Benz Reports Reduced Earnings in Q3 2023, Here’s Why

Mercedes-Benz cited higher inflation, supply chain-related costs, and a 329-million-euro foreign exchange setback, among the factors that shrank its Q3 2023 earnings. Luxury car maker Mercedes-Benz Group AG (ETR: MBG) has revealed that its earnings took a hit in the third quarter (Q3). According to a Thursday announcement by the firm, this reflects the current state of the market, which it described as “subdued”. Although its forecast for the full year is 12%-14%, the latest report means...

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Tesla Earnings Report Show Firm Holding onto Bitcoin in Q3 2023

Tesla continues to hold on to its BTC holding having last sold about 75% of it in the second quarter of 2022. It has now been five consecutive quarters that electric vehicle maker Tesla Inc (NASDAQ: TSLA) has left its sizable Bitcoin (BTC) holdings untouched. That is despite recently spending greatly towards improving its artificial intelligence (AI) ambitions and projects. According to Tesla’s Q3 2023 report that was released on Wednesday, the company still has $184 million worth of...

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UK to Host Inaugural International Summit on AI Safety in November

The discussions during the summit will address the unpredictable nature of AI progress and the critical importance of maintaining human control over its development. The UK is gearing up to host the world’s inaugural international summit on artificial intelligence (AI), focusing on the existing threats associated with this rapidly advancing technology. The two-day event will commence next month from November 1st until the 2nd with the aim of positioning the UK as a mediator between global...

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Tesla Cuts Prices for Model 3 and Model Y in US after Missing Deliveries Expectation

Tesla has cut prices after it announced a slowdown in deliveries. The company said the decline was caused by factory upgrades. Tesla Inc (NASDAQ: TSLA) has reduced US prices of its Model Y and Model 3 cars following third-quarter delivery figures that did not meet expectations.  According to the company’s website, the starting price for the Model 3 is $38,990, lower than the previous $40,240 listing. The long-range version dropped from $45,990 to $47,240, while the Model 3 was reduced from...

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Sphere Entertainment (SPHR) Stock Rallies Following Opening of Sphere Venue with U2 Concert

JPMorgan Chase & Co. recently raised its Sphere Entertainment stock price target from $25 to $28 following the release of the entertainment company’s Q4 figures. Sphere Entertainment Co (NYSE: SPHR) stock rose by more than 7% after the company opened its Sphere venue in Las Vegas with a show by U2 on Friday night. The 360-foot-tall venue is located at the Venetian Resort and will host live concerts and sporting events. Everything you need to know about the all new MSG Sphere in Las...

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Turkish President Invites Elon Musk to Build Tesla Factory in Turkey

In response to Erdogan’s proposition, Musk conveyed his enthusiasm for the Turkish market. Turkish President Recep Tayyip Erdogan has extended an invitation to Elon Musk, the CEO of Tesla and SpaceX, urging him to consider establishing Tesla’s next factory in Turkey. The enticing offer was made during their meeting in New York, where Erdogan attended the United Nations General Assembly. The meeting between Erdogan and Musk took place at the iconic Turkish House in Manhattan, and it...

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TSLA Stock Up 1.75%, Tesla to Disrupt Auto Design and Manufacturing Process with Gigacasting Breakthrough

Tesla is likely to decide on a breakthrough method of die casting multiple sections of its EVs to reduce cost and improve production. Tesla Inc (NASDAQ: TSLA) has reportedly figured out a technological breakthrough that will transform the process of making electric vehicles. Fine-tuning the process will help Tesla cut production costs considerably. Tesla stock closed 1.75% higher at $276.04 on the news. Five people familiar with the matter spoke with Reuters anonymously. According to these...

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Bitcoin Miners’ Clean Energy Usage Reportedly Surges Past 50%, Here’s What It Means for BTC Price

If not for anything else, the latest report about clean energy usage could mean a greater move toward the adoption of BTC. A Bloomberg analyst has just reported on the present situation with Bitcoin (BTC) miners as it concerns clean energy usage. In a recent thread on X (formerly Twitter), the analyst, Jamie Coutts said that the percentage of clean energy used for Bitcoin mining has gone past 50%. That is more than 50% of Bitcoin mining now comes from renewable sources. According to...

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Stock Futures Reflect Mixed Sentiment after Positive Market Performance

As investors brace themselves for another week of market volatility and unsteady stock futures, all eyes are on the crucial economic data releases that could have a profound impact on the financial landscape. This morning marked a cautious start for investors as stock futures presented a mixed outlook following a positive day on Wall Street. Overview of the US Stock Futures Market As the US stock market opened, futures tied to the Dow Jones Industrial Average (INDEXDJX:.DJI) took a...

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