A Carvana used car “vending machine” on May 11, 2022 in Miami, Florida. Joe Raedle | Getty Images Shares of Carvana plummeted for a second-consecutive trading day as investors unloaded shares of the embattled used-vehicle seller amid growing challenges for the company and a softening for the industry. The stock ended the trading day off… Continue reading Carvana stock tanks in continued sell-off
Author: CNBC Online news
Lidar makers Ouster and Velodyne agree to merge
The New York Stock Exchange welcomes Ouster Inc. (NYSE: OUST), today, Friday, March 12, 2021, in celebration of its Initial Listing. To honor the occasion, Ouster CEO Angus Pacala, joined by Chris Taylor, Vice President, NYSE Listings and Services, rings The Opening Bell®. NYSE Lidar makers Ouster and Velodyne have agreed to merge, combining roughly… Continue reading Lidar makers Ouster and Velodyne agree to merge
Cramer: Why tech can’t find a bottom as other parts of the market show signs of life
Lots of companies got clocked last week. We saw weakness in a host of industries everything from media to gambling to cloud computing and software sales. The pain in the technology sector seems to know no bounds, as we mark one year ago this month since the Nasdaq last closed at a record high. (To… Continue reading Cramer: Why tech can’t find a bottom as other parts of the market show signs of life
Tesla stock has dropped 35% since Elon Musk first said he’d buy Twitter
Elon Musk attends The 2022 Met Gala Celebrating “In America: An Anthology of Fashion” at The Metropolitan Museum of Art on May 2, 2022 in New York City. (Photo by Gotham/Getty Images) Gotham | Getty Images Since Tesla CEO Elon Musk announced his bid to buy social network Twitter, shares in his electric vehicle maker… Continue reading Tesla stock has dropped 35% since Elon Musk first said he’d buy Twitter
Carvana stock posts worst day ever as outlook darkens for used vehicle market
Source: NYSE Shares of Carvana posted their worst day on record Friday after the company missed Wall Street’s top- and bottom-line expectations for the third quarter as the outlook for used cars falls from record demand, pricing and profits during the coronavirus pandemic. The stock cratered 39% to end the day at $8.76 a share… Continue reading Carvana stock posts worst day ever as outlook darkens for used vehicle market
Here’s how Twitter and Elon Musk can prevent racist ‘raids’ on the social network
In this photo illustration, the image of Elon Musk is displayed on a computer screen and the logo of twitter on a mobile phone in Ankara, Turkiye on October 06, 2022. Muhammed Selim Korkutata | Anadolu Agency | Getty Images When Tesla and SpaceX CEO Elon Musk took over at Twitter, showing up at headquarters… Continue reading Here’s how Twitter and Elon Musk can prevent racist ‘raids’ on the social network
Carvana tumbles after posting declines in nearly every aspect of the car reseller’s business
Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC Shares of Carvana fell in extended trading Thursday after the online used car retailer missed Wall Street’s top- and bottom-line expectations for the third quarter and reported declines in revenue, profit and sales compared with a year earlier. The stock fell by more than 7% during after-hours… Continue reading Carvana tumbles after posting declines in nearly every aspect of the car reseller’s business
Interest rate hikes have made financing a car pricier — especially if you have bad credit. How much you could pay
Tim Boyle | Bloomberg | Getty Images Although prices for new cars are moderating a bit, financing a vehicle purchase hasn’t been getting any cheaper. With the Federal Reserve’s latest interest rate hike — the sixth this year — auto loans are poised to become even more expensive. The Fed’s move has a ripple effect,… Continue reading Interest rate hikes have made financing a car pricier — especially if you have bad credit. How much you could pay
Jeep-maker Stellantis expects raw material inflation to ease next year
Engines undergo a final inspection at the Stellantis Dundee Engine Complex on August 18, 2022 in Dundee, Michigan. Bill Pugliano | Getty Images Automaker Stellantis expects inflation costs on raw materials to subside next year following significant increases during the coronavirus pandemic, CFO Richard Palmer told investors Thursday. The spiking costs of critical raw materials… Continue reading Jeep-maker Stellantis expects raw material inflation to ease next year
Nikola cuts production guidance, sending stock down despite strong earnings report
Nikola Motor Company Source: Nikola Motor Company Electric heavy truck maker Nikola said that it produced 75 trucks in the third quarter, and delivered 63 to dealers before quarter-end, generating enough revenue to beat Wall Street’s expectations. But the company trimmed its production guidance for the full year and declined to provide guidance for 2023.… Continue reading Nikola cuts production guidance, sending stock down despite strong earnings report