Roth Capital to hold a webinar » 09:5410/2110/21/20
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Nikola rallies after GM says partnership talks are 'going forward' » 09:4110/2110/21/20
Shares of Nikola (NKLA)…
Shares of Nikola (NKLA) are moving higher after General Motors President Mark Reuss told Bloomberg that the company is moving forward with partnership talks. "Right now we are going forward," Reuss said in a Bloomberg TV interview taped on October 16. "They are taking what I believe is the best fuel cell in the world -- with our fuel cell that is made in our joint venture with Honda right here in Michigan -- and taking that fuel cell and looking at deploying it in the heavy-duty transport market with large trucks -- the Class 7 and 8s -- and also in the light-duty Badger truck," Reuss said. On CNBC this morning, Reuss added that GM continues "to work the opportunity" of its $2B deal with Nikola that was announced last month but hasn't yet been finalized. "The opportunity to put our fuel cells into a class 7 and 8 vehicle is spectacular," he said during an interview. "We know there's great operational cost advantages there, there's great efficiencies and there's great opportunities." Shares of Nikola are up 4%, or 88c, to $21.60 in morning trading.
Microsoft, Musk's SpaceX partner over Azure expansion, Reuters reports » 14:0410/2010/20/20
MSFT, TSLA, AMZN
Microsoft (MSFT) is…
Microsoft (MSFT) is collaborating with SpaceX, which is led by Tesla (TSLA) founder Elon Musk, and others as it expands its cloud-computing platform Azure into outer space, Reuters' Akanksha Rana and Joey Roulette report. The partnership would allow the software giant to connect Azure to SpaceX's network of low-Earth orbiting satellites, offering Microsoft an advantage in its battle with Amazon's (AMZN) cloud platform, the authors say. Reference Link
Tesla vehicle registrations down 13% in CA during Q3, Reuters says » 08:0610/2010/20/20
Tesla's vehicle registrations in the state of California fell 13% in Q3 relative to last year's quarter, Reuters staff reports, citing data from Cross-Sell. Registrations amounted to about 16.2K vehicles, which is up from the Q2 low of 9.8K vehicles, the report states, also indicating that Model 3 registrations were down 60% from last year to 6.5K. Reference Link
JPMorgan still sees Nikola, GM partnership as likely by December » 13:4510/1910/19/20
JPMorgan analyst Paul…
Tesla slashes used car warranty, Electrek reports » 11:4210/1910/19/20
Tesla has significantly…
Tesla has significantly slashed its used car warranty, and while it previously offered a 2- to 4 -year warranty on used Model S and Model X vehicles, will offer a warranty of only one year or 10,000 miles over the original warranty, Electrek's Fred Lambert reports. Reference Link
UnitedHealth downgrade, Tesla target raise among top calls on Wall Street » 09:5910/1910/19/20
UNH, TSLA, VFC, NKE, MDRX, RH
Check out today's top…
Notable open interest changes for October 19th » 08:5510/1910/19/20
AAPL, HTZ, MSFT, TSLA
Friday's total option volume of 32.4 million contracts resulted in net open interest growth of 4.72 million calls and 4.33 million puts. Apple (AAPL), Hertz (HTZ), Microsoft (MSFT) and Tesla (TSLA) saw the greatest growth. Top five new positions opened include 49k Microsoft (MSFT) Dec-20 250 calls, 36k Hertz (HTZ) 10/23 weekly 2.5 calls, 24k Pfizer (PFE) Nov-20 39 calls, 23k Microsoft (MSFT) Dec-20 230 calls and 20k Discovery Communications (DISCK) Mar-21 22.5 calls.
Nikola, GM partnership still likely by December 3, says JPMorgan » 08:1110/1910/19/20
JPMorgan analyst Paul…
JPMorgan analyst Paul Coster believes Nikola (NKLA) and General Motors (GM) are still likely to enter into a strategic partnership by December 3. Nikola needs access to General Motors' supply chain and engineering resources while GM needs to realize a return on billions of dollars of investment in hydrogen fuel cells, and Nikola might be the best available option, Coster tells investors in a research note. Further, the Badger initiative might be of more interest to GM than Nikola, "for whom it seems to be a distraction," adds the analyst. Coster thinks GM and Nikola "remain locked in dialog" and that a restructured deal "still seems probable." He keeps an Overweight rating on Nikola with a $41 price target. The stock closed Friday down $3.75 to $19.54.
Tesla price target raised to $500 from $475 at Wedbush » 08:0110/1910/19/20
Wedbush analyst Daniel…
Wedbush analyst Daniel Ives raised the firm's price target on Tesla to $500 from $475 and keeps a Neutral rating on the shares ahead of quarterly results. The analyst believes Tesla's improved manufacturing efficiency and shining Giga 3 success in China will be on full display later this week and lead to another strong bottom-line performance, which should beat the Street. In terms of overall unit demand heading into year-end, Ives believes Tesla is on pace to impressively achieve in the area code of 500k units for the year, a line in the sand that was a pipe dream six months ago as Tesla have navigated this unprecedented COVID backdrop. Further, he thinks that with margins incrementally higher on a Model 3 sold in China versus the U.S./Europe this could markedly increase the profitability profile for Tesla over the next few years as ultimately the analyst sees China representing 40%-plus of global sales for the company potentially by early 2022.