Chinese EV (electric vehicle) companies including NIO, Xpeng Motors, Li Auto, and BYD have reported their April deliveries. Here are the key takeaways from the reports and what they tell us about the health of the world’s largest EV market. NIO delivered 15,620 vehicles in April which was up 134.6% YoY and 31.6% as compared to March. The company’s cumulative deliveries reached 495,267 at the end of April. Notably, NIO has begun the deliveries of its ET7 from April 30 and expects the new model to spur volumes in the coming quarters. NIO also announced that it has entered into a strategic coope ..read more

Tesla shares rallied over 15% yesterday after the company received tentative approval to offer its advanced driver-assistance service in China. Separately, the company announced a deal with Baidu and would use the Chinese tech giant’s mapping and navigation technology for the service. Tesla markets its advanced autonomous driving as FSD (full self-driving). However, it is worth noting that the nomenclature could be misleading as it is not level 4 autonomous driving and even Tesla advises drivers to keep their hands on the steering all the time even when it is on the Autopilot. There have been ..read more

Alphabet (NYSE: GOOG) released its Q1 earnings on Thursday after the close of market hours. The shares surged over 10% yesterday and Alphabet joined the ranks of $2 trillion companies. Here are the key takeaways from the report and how analysts reacted to Alphabet’s Q1 earnings. The Google parent reported revenues of $80.5 billion in Q1 which were 16% higher YoY in constant currency terms. The company’s net income surged to $23.6 billion, compared to $15.05 billion in the corresponding quarter last year. Both the metrics easily surpassed analysts’ estimates. In her prepared remarks, the compa ..read more

Meta Platforms (NYSE: META) released its Q1 2024 earnings yesterday. While the Facebook parent reported better-than-expected earnings, the shares are sliding in US premarket price action today. Here are the key takeaways from the report. Meta reported revenues of $36.46 billion in Q1, which were 27% higher YoY and towards the upper end of its guidance. The metric was also slightly ahead of the $36.16 billion that analysts were expecting. Meta’s earnings per share rose 114% YoY to $4.71 and easily beat consensus estimates of $4.32. Key takeaways from Meta Platforms’ Q1 earnings Looking at the ..read more

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Tesla (NYSE: TSLA) shares fell to their 52-week lows in early US price action today after long-time bull and Deutsche Bank analyst Emmanuel Rosner downgraded the share from a “buy” to “hold” and lowered his target price from $189 to $123. “The delay of Model 2 efforts creates the risk of no new vehicle in Tesla’s consumer lineup for the foreseeable future, which would put continued downward pressure on its volume and pricing for many more years, requiring downward earnings estimate revisions for 2026+,” said Rosner in its note. Notably, on April 5, Reuters reported that Tesla had canceled pla ..read more

Chinese EV (electric vehicle) companies including NIO, Xpeng Motors, Li Auto, and BYD have reported their February deliveries. Here are the key takeaways from the reports. Notably, China’s economic activity tends to be tepid around the Lunar New Year holidays which fell in February this year. As a result, the February deliveries of Chinese EV companies fell sharply as compared to January. Chinese EV companies report February deliveries NIO delivered 8,132 EVs in February which was 19.1% lower as compared to January, and 33.1% lower than the 12,157 vehicles delivered in February 2023. The comp ..read more

Tesla and other electric vehicle (EV) shares are trading lower in US premarket price action today. While the broader markets are also looking weak with the futures pointing to shares opening in the red today, Xpeng Motors comments on a bloodbath in the EV industry also seem to be weighing heavy on sentiments. In an employee memo, Xpeng Motors’ CEO He Xiaopeng said that the price war in the EV industry could end in a “bloodbath.” Notably, there has been a brutal price war in the Chinese EV industry since Q4 of 2022 when Tesla started to cut car prices to spur sales. Tesla’s price cuts were fol ..read more

PayPal shares are trading sharply lower in early US price action today after the fintech giant reported its Q4 earnings. While the company’s earnings were better than expected, it spooked markets with its guidance. PayPal reported revenues of $8.03 billion in Q4 which was 9% higher YoY and ahead of the $7.87 billion that analysts expected. Its EPS of $1.48 was also ahead of the $1.36 that analysts were expecting. It reported payment volumes of $409.8 billion in Q4, which was 15% higher than the corresponding quarter last year and surpassing the $405.51 billion that analysts were expecting. Pay ..read more

Meta Platforms shares rose over 20% on Friday and hit a new record high after the company reported an impressive set of numbers for the fourth quarter. The company created a record as the spike added $196 billion to its market cap which is the highest ever in history for any company. The Facebook parent reported revenues of $40.1 billion in the December quarter which were ahead of the $39.18 billion that analysts expected. The metric rose 25% YoY which is the highest pace of increase since mid-2021. The company’s revenues rose 16% in 2023 which is a significant improvement from the previous y ..read more