Tesla sales surge 98%; company boosts margins on its less-costly electric cars
-Tesla Inc posted a bigger second-quarter profit than expected on Tuesday thanks to sharply higher sales of its less-expensive electric vehicles, as it raised prices to boost its margins on them.Tesla also cut costs which helped it offset many of the supply chain and microchip shortfalls facing the auto industry.For the first time since late 2019, Tesla profits did not rely on sales of environmental credits to other automakers, a sign of increasing financial health for the manufacturing operati
Jeff Bezos Steps Down as CEO on Monday. Here’s What It Means for Amazon’s Stock.
Amazon.com founder Jeff Bezos is stepping down as the company’s CEO on Monday, the company’s 27th birthday. He’s handing over the baton to Andy Jassy, a 24-year Amazon veteran who built and ran Amazon Web Services , the company’s dominant cloud-computing business.As Wall Street analysts like to say, Jassy faces a “tough compare.” Bezos was always going to be a tough act to follow, and he’s leaving the job on top. . Meanwhile, regulatory scrutiny remains a headwind. Amazon is getting considerable
S&P 500 winning streak extends to sixth straight record close
NEW YORK - The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.Investors now eye Friday’s much-anticipated employment report.The bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.“Historical data shows if you have a strong first half, the second half of the year was ac
I am comparing Ford against NIO in different categories.The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.NIO is growing a lot faster than Ford and the high valuation may be justified.With Ford launching a major offensive in the market for electric vehicles, Chinese EV maker NIO will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based