Tesla, Ford attract new investments from George Soros’s fund

Tesla, Ford attract new investments from George Soros’s fund

Billionaire investor George Soros’s investment fund has bought stakes in Tesla Inc. and Ford Motor Co. and added to existing stakes in EV makers Lucid Group Inc. and Nio Inc., according to a filing late Friday. The fund acquired 29.5 million shares of Ford F, +2.21% in the reporting period ended in June, the filing … Read more

Rivian Keeps 2022 Production Guidance Intact. The Stock Is Still Falling.

Rivian Keeps 2022 Production Guidance Intact. The Stock Is Still Falling.

Text size The Rivian R1S should start shipping to customers in just a few months. Courtesy of Rivian Electric-truck maker Rivian Automotive reported a wider-than-expected quarterly loss, but more importantly maintained its production estimates for the full year. The stock wobbled as investors digested the news. Rivian (ticker: RIVN) reported an adjusted per-share loss of … Read more

Markets have been extrapolating from one release to the next. Here are bargain stocks that build long-term returns, say these fund managers

Markets have been extrapolating from one release to the next. Here are bargain stocks that build long-term returns, say these fund managers

Wow, that was a shocker: U.S. consumer price growth slowed to 0% in July, the Labor Department reported on Wednesday. Core price growth slowed to 0.3%, which was below forecast. Over the last 12 months, prices have gained 8.5%, also coming in below forecast. The soft reading seems to justify the 13% rally in the … Read more

Tesla, EV Makers Stand to Get Billions for Factories From Senate Bill

Tesla, EV Makers Stand to Get Billions for Factories From Senate Bill

The Senate climate bill passed over the weekend offers billions of dollars for electric-vehicle and battery factories, and includes rules that the auto industry says will make it tougher for some consumers to qualify for EV tax breaks. The bill, which passed 51-50 on Sunday, sets aside more than $15 billion to retool factories and … Read more

McLaren 720S Driver Beats AfroDuck Record: 21-Minute Lap of NYC

McLaren 720S Driver Beats AfroDuck Record: 21-Minute Lap of NYC

AfroDuck’s record has fallen. A video posted to YouTube with little fanfare in late July shows the driver of a McLaren 720S completing a lap of NYC in 21 minutes, 3.16 seconds — beating the 24:07 record that launched AfroDuck to infamy, made him a fugitive, and forced him into exile in Canada. The latest … Read more

At Ford, Quality Is Now Problem 1

At Ford, Quality Is Now Problem 1

Josh Halliburton joined Ford Motor Co. in January to help improve its shaky quality record. Within months it was clear how big a challenge he faced. In May, the auto giant recalled some Ford Expeditions and Lincoln Navigators after reports of fires while vehicles were parked. In June, it recalled roughly 49,000 Mustang Mach-E electric … Read more

Tesla investors pave way for stock split, vote with company on most proposals

Tesla investors pave way for stock split, vote with company on most proposals

Tesla Inc. shareholders on Thursday approved a proposal expected to lead to a 3-for-1 stock split and sided with the company on most of the proposals up for a vote. Tesla TSLA, +0.40% announced preliminary vote results at its gigafactory in Austin, its new corporate headquarters, at the end of an official shareholder meeting that … Read more

AMC Entertainment Plans ‘APE’ Preferred Stock Dividend. Shares Slide After Earnings.

AMC Entertainment Plans ‘APE’ Preferred Stock Dividend. Shares Slide After Earnings.

Text size Investors will receive a preferred share for each share of common stock they own. Jeenah Moon/Bloomberg AMC Entertainment is finally giving the “apes” what they want. The movie-theater company paired its second-quarter earnings report with news that it’s giving shareholders a special dividend of AMC Preferred Equity Units. The AMC preferred shares will … Read more

Collapsed building company Willoughby Homes taken to court to be liquidated

Collapsed building company Willoughby Homes taken to court to be liquidated

The stark reality of a building company’s collapse has been laid bare after the firm proposed that trade creditors would receive 10c back for every dollar they were owed. On Wednesday afternoon, Sydney-based builder Willoughby Homes was brought to court with creditors calling for it to be put into liquidation because the business was “hopelessly … Read more

Amazon stock jumps 14% as sales beat and AWS growth overcome a second straight quarterly loss

Amazon stock jumps 14% as sales beat and AWS growth overcome a second straight quarterly loss

Amazon.com Inc. decided to cut back after years of pouring money into growth, and the result was a second consecutive quarterly loss, but a beat on sales and continued strong growth from Amazon Web Services helped push the stock higher in after-hours trading Thursday. Amazon AMZN, +1.08% reported a second-quarter loss of $2 billion, or … Read more