CNBC’s Jim Cramer looked at what might have spurred Wednesday’s Big Tech sell-offs, reviewing why investors may have been disappointed with earnings from Alphabet and Tesla. “Wall Street, it looks like it’s had it with the mega caps, doesn’t it? We don’t want to hear about the ‘Magnificent Seven’ anymore,” he said. “Everyone thinks these … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) on July 24, 2024 in New York City. Spencer Platt | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
President Joe Biden on Wednesday night told the American public that “the defense of democracy is more important than any title,” as he explained his stunning decision to drop out of the presidential election and endorse Vice President Kamala Harris as the Democratic Party’s nominee. “I draw strength, and find joy, in working for the … Read more
Ford Motor on Wednesday reported a disappointing second quarter, missing earnings expectations by a wide margin as higher warranty costs ate into profits. We’re downgrading the automaker and sending its stock back to the penalty box in response to the reemergence of these quality problems. Automotive revenue increased 6% year over year, to $47.8 billion, … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) on July 22, 2024 in New York City. Spencer Platt | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
Elon Musk, CEO of Tesla. Antonio Masiello | Getty Images Tesla shares fell more than 8% in premarket trading in the U.S. after the electric carmaker reported second-quarter earnings that missed expectations amid ongoing pressure in its auto business. Elon Musk’s electric vehicle firm reported that automotive revenue dropped 7% year-on-year in the June quarter … Read more
Tesla China sales fell by 5.4% in the first half of the year, although the company retained third place in new energy vehicle sales, behind BYD and Geely, according to the China Passenger Car Association. Bloomberg | Bloomberg | Getty Images BEIJING — Tesla CEO Elon Musk has again touted the impending rollout of advanced … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) on July 22, 2024 in New York City. Spencer Platt | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
Spectators are looking at BYD Song L electric cars at the 21st Changchun International Automobile Expo in Changchun, Jilin province, China, on July 17, 2024. (Photo by Costfoto/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images Shares of major Chinese electric vehicle companies dropped Wednesday after U.S. giant Tesla‘s earnings fell short of analysts’ … Read more
Musk is attending Cannes Lions this week with an aim to reassure ad groups and global brands over the future of X. Marc Piasecki | Getty Images Tesla CEO Elon Musk posted an informal poll on social network X asking whether his publicly traded automaker should invest $5 billion into his newest startup, xAI. Specifically, … Read more
