FIVE at FIVE: Musk sells Tesla, Aviva’s dividend, M&S sounds the alarm and Bitcoin spooked...
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Company
Tesla Inc
NASDAQ:TSLA
Tesla Inc designs, develops, manufactures, sells and leases high-performance fully electric vehicles and energy generation and storage systems, and offer services related to its products. The company's segments include automotive, and energy generation and storage.
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Elon Musk offloads nearly US$4bn worth of Tesla shares
Musk sold 19.5mln shares worth US$3.95bn following two earlier larger disposals
Tesla China price cuts ‘not unexpected’ say Canaccord analysts while reiterating ‘Buy’ rating
“We suspect these price cuts have been in the works for some time and do not think they are a response to incremental demand weakness over the last week or so,” the analysts wrote
Tesla cuts prices for its vehicles in China by up to 9% - report
The price cuts, posted in listings on the electric vehicle (EV) giant's China website on Monday, are the first by Tesla in China in 2022, and come after the automaker began offering limited incentives to buyers who opted for Tesla's insuran
Tesla shareholders urged to force company to link director pay to ESG factors
“The mood of investors is super-ready to support a resolution like ours,” said activist shareholder platform Tulipshare
Elon Musk expects recession to last 'until spring of 2024'
Its shares have plummeted 48% during 2022, including a 9% drop to a 16-month low on Thursday following its Q3 results, where revenues missed Wall Street expectations
BMW plans to invest $1.7bn to produce electric vehicles and batteries in the US
The German carmaker said the investment will include $1bn to prepare for production of EVs at its existing Spartanburg factory in South Carolina, and $700mln for a new high-voltage battery-assembly facility in nearby Woodruff in the state
Tesla Q3 results: Five things you may have missed including self-driving EVs
Delving deeper into the company's delivery growth targets, carbon credit sales, self-driving EV progress, market share and battery metals plans
Tesla stock falls as Q3 revenue misses street expectations
Operating income rose to $3.7 billion in the quarter but the company said profitability had been impacted by higher raw material, commodity, logistics and warranty costs together with a negative forex hit of $250 million
Tesla under pressure to prove itself, says broker
Tesla is releasing its third-quarter earnings statement after the Wall Street close today
iPhone maker Foxconn steps up EV manufacturing plans, hopes to add Tesla
The company is already making cars in Taiwan and the US for Yulon and Lordstown Motors
Tesla rival BYD flags huge quarterly profit jump as China sales surge
BYD estimated net profit for the July-September quarter to come in between 5.5 billion yuan and 5.9 billion yuan ($765 million to $820 million) - an increase of 333% to 365% from the same period a year earlier
Tesla prices, margins, deliveries and self-driving in headlights for Tuesday's earnings
Claims about the rollout of Full Self-Driving (FSD) software by year-end are likely to be softened, one analyst said
Tesla rival Polestar unveils a new $84,000 electric SUV in the US
The new model, called the Polestar 3, is a five-passenger EV that the company describes as a “performance SUV”
Nissan pushes partner Renault to sell down stake, may raise funds - report
Renault owns about 43% of Nissan, which wants its French ally to wind down the stake to 15%, drawing level with Nissan's share in the alliance partner
Tesla sees China-made sales hit record following Shanghai factory upgrade
Tesla delivered 83,135 China-made electric vehicles (EVs) in September, according to a report released on Sunday by the China Passenger Car Association (CPCA), Reuters said
Musk says Tesla will deliver first semi trucks ready for Christmas
The trucks have a 0-60 mph acceleration of 20 seconds and energy consumption of less than 2kWh per mile
Canaccord Genuity remains upbeat on Tesla after double dose of news
The broker reiterated its buy rating after quarter three delivery numbers and its artificial intelligence day
Elon Musk's Tesla Q3 production surges 40% but deliveries still below analyst expectations
The electric car maker made over 365,000 vehicles between July and September but failed to deliver 22,000 of them
Tesla to unveil humanoid Optimus robot at Friday's AI Day
There will also be updates on full self driving (FSD) and the Dojo supercomputer