California governor Gavin Newsom picking a new fight with Tesla Inc (NASDAQ:TSLA) boss Elon Musk could be a risky "Game of Thrones battle", says analyst Dan Ives of Wedbush.
The war of words stems from Donald Trump's wish to end the federal support scheme for EV, with Newsom proposing on Monday that this would likely lead him to reboot the state’s clean vehicle rebate program.
Artificial intelligence sector names Snowflake (NYSE:SNOW) and Elastic (NYSE:ESTC) were upgraded to a positive rating by Wedbush on Tuesday as it sees opportunities for other software players to "get in on the AI party" as further uses for the technology emerge.
The brokerage reflected confidence in the next phase of the AI revolution, namely the "enterprise consumption phase", with launch of large language models (LLMs) for thousands of companies and further adoption of generative AI that it reckons "will be a major catalyst for the software sector and key players".
The first Manchester United Plc (NYSE:MANU) earnings report of the new English Premier League season was "mixed" but had more to like than dislike for analysts at Jefferies.
Results for the three months to September 30 saw total revenue fall 9% year on year and adjusted profit (EBITDA) up 2%, respectively ahead of and below the broker's estimates.
B&Q owner Kingfisher plc’s third-quarter results published yesterday were weaker-than-anticipated, Deutsche Bank analysts said in a research note.
Given Kingfisher’s 12% share price bombing on the day, that may be understating it.
Retailers and hospitality businesses stand to lose a lot from Labour’s brave new tax world, but Next plc could be uniquely placed to come out relatively unscathed, according to new analysis from RBC capital markets.
RBC has upgraded Next to outperform with a 10,800p price target, despite retail sales falling more than anticipated in October and nearly every major chain warning that chancellor Rachel Reeves’ incoming tax hikes will negatively impact the sector,
Shares in Zoom Technologies Inc (NASDAQ:ZOOM) were down almost 7% in pre-market trading as its third-quarter results failed to live up to expectations - despite an earnings beat and upgraded guidance.
Against the backdrop of a 62% rise from its mid-August low, the mark-down would appear to reflect some profit-taking or a rebasing of the runaway valuation that reflects the current outlook for the business.
Melrose Industries PLC (LSE:MRO, OTC:MLSPF) surged on Tuesday after being dubbed “significantly undervalued” by JP Morgan analysts and having its share price target hiked.
Shares in the aerospace manufacturer climbed 6.2% to 559.6p after the bank upped Melrose’s price target from 650p to 850p, noting “this rose is ready to bloom”.
With Tesla Inc (NASDAQ:TSLA) having gained over $350 billion in market capitalization since the US election, analysts at UBS urged investors to think hard about whether the company deserved its valuation of almost $1.1 trillion.
The near-40% surge in the shares since the US election, outpacing the broader S&P 500, was mostly down to the classic "animal spirits" of the market, fueled by some views that President-elect Donald Trump's second administration will benefit the company more than rivals.
Anglo American PLC (LSE:AAL) is shaping up to become a drastically different business after offloading its multi-billion-dollar Australian metallurgical coal assets.
The FTSE 100-listed miner is set to receive US$4.9 billion (£3.9 billion) from multiple disposals under a large-scale corporate streamlining plan.
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