Spot market freight levels were down for the Independence Day holiday week, but rates were up, according to DAT and Truckstop.com, two major services tracking spot market data. ...
It has been a wild ride in 2020 for electric heavy-truck maker Nikola (NKLA). Even after the recent heavy pullback, shares are still up this year by a towering 290%. With no working prototype, no revenue, and seemingly sentiment driven stratospheric gains, how can you measure Nikola’s value? This is an issue RBC's Joseph Spak grappled when initiating coverage on NKLA. “As meaningful revenue/EBITDA/CF are further out, NKLA is difficult to value and can remain a story stock untethered to trad’l valuation/fundamental metrics. We're intrigued by biz model prospect but remain on the sidelines given unproven biz model and significant tech, customer adoption, and execution risks,” the analyst said.The business model which Spak refers to is Nikola’s FCEV (Fuel Cell Electric Vehicle) bundled lease option (truck + fuel + S&M). The company plans on charging $665k for a 7-year lease (or 700,000 miles, if clocked beforehand). This would lead to roughly...
(Bloomberg) -- Civil rights organizations criticized Facebook Inc. following a meeting with top executives Tuesday, claiming the company hasn’t taken seriously demands to better police its service from hate speech and misinformation.“Facebook approached our meeting today like it was nothing more than a PR exercise,” Jessica González, co-chief executive officer of Free Press, a non-profit media advocacy group, said in a statement following the meeting. “I’m deeply disappointed that Facebook still refuses to hold itself accountable to its users, its advertisers and society at large.”Facebook CEO Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg also met with members of the NAACP, the Anti-Defamation League and Color of Change, who have organized a boycott of the company’s advertising products in seeking to prompt change. The executives didn’t “commit to a timeline” to remove disinformation and hate speech, Gonzalez said, but instead “delivered the same old talking points to try to placate us...
Effective July 15, Andreas Renschler is leaving the boards of management for both Volkswagen AG and Traton SE “by best mutual consent,” according to a press release. ...
The Tesla Inc (NASDAQ: TSLA) Model Y is about to have some serious competition. Nissan (OTC: NSANY) is set to premiere its first all-electric crossover vehicle, the Nissan Ariya, online on July 15.What To Know: Very few details have been revealed about the Nissan Ariya, but it's expected to have nearly 300 miles of range, a sleek interior and an acceleration of 0-60 in five seconds.It may also offer an all-wheel-drive option with motors in both the front and the rear. The price starts at $40,000, which makes this car more affordable than the $53,000 starting price of the Tesla Model Y. It will also qualify for the $7,500 federal tax credit, which the Model Y does not.Why It's Important: The Ariya will include Nissan's second generation of its ProPilot Assist self-driving technology, which furthers its competition with the Model Y. Like most electric vehicles, it will also feature regenerative breaking...
On CNBC's "Fast Money Halftime Report," Stephanie Link spoke about NVIDIA Corporation (NASDAQ: NVDA) after the stock reached its all-time high on an upgrade from Bank Of America.She owns the stock and she is going to hold it, but she would not buy it at these levels because it's up 69% year to date and it's trading at 50 times earnings. She would rather buy Broadcom Inc (NASDAQ: AVGO). It has a good market exposure in 5G and cloud and it also has a 4% dividend yield. She finds it cheaper than Nvidia.Josh Brown is not a buyer of Teladoc Health Inc (NYSE: TDOC). The stock was initiated at Overweight at Stephens and it reached its all-time high on Tuesday. Brown owned the stock through the pandemic for around 100 points, but he decided to take profits because he is concerned about potential competition.See more from Benzinga * Cramer Weighs In...
