Results for: Business

Tesla has implemented significant price reductions for its vehicles in the United States, China, and Germany. The company’s Model Y, Model X, and Model S vehicles have seen a $2,000 decrease in the US, while the price of Full Self-Driving software has been lowered from $12,000 to $8,000. Tesla has also reduced prices in China and Germany, with the Model 3 seeing a price cut of 14,000 yuan ($1,930) in China. This recent round of price cuts comes amid a decline in Tesla’s stock value, which has fallen to its lowest point in 15 months. Tesla’s stock may continue to face selling pressure due to an upcoming earnings report that is expected to show a decline in demand and a potential negative free cash flow quarter.

To mark Earth Day, President Biden announced $7 billion in grants to help over 900,000 low-income households install residential solar power. The funding comes from the Environmental Protection Agency’s Solar for All grant competition, part of the Inflation Reduction Act’s Greenhouse Gas Reduction Fund. The program aims to save households over $350 million in electricity costs annually and reduce carbon pollution by 30 million metric tons over 25 years.

Metals are leading gains in the commodities sector this quarter, with gold, silver, and copper prices surging. This performance defies the typical sensitivity of these metals to a strong US dollar and rising interest rates. Citi strategists predict a further 5-10% rally in the short term and a potential 15-20% increase in the medium term. They anticipate a minor pullback before a surge in the second half of 2024, with gold reaching $2,500/oz and silver $30-32/oz. The rally is supported by strong market cap share, index weights, and investor interest.

Brent crude oil prices have plunged to a four-week low of 86.50 USD on Monday due to a combination of factors including reduced geopolitical tensions, rising US crude oil inventories, and global economic uncertainties. The easing of tensions between Iran and Israel has contributed to the decline, as Iran is a major OPEC oil producer whose exports play a crucial role in global oil markets. The unexpected surge in US crude oil inventories has further pressured prices, while concerns about prolonged elevated interest rates by the Federal Reserve have also dampened the outlook for oil demand. However, the stability of the US dollar has prevented steeper declines in oil prices.

A centuries-old newspaper, found in a Goodwill store in New Jersey, has been appraised at $18,000. The artifact, a copy of the December 28, 1774, Pennsylvania Journal and Weekly Advertiser, features the ‘Unite or Die’ snake logo and signatures from John Hancock. It was acquired by The American Philosophical Society in Philadelphia. The donation highlights the value of thrift store finds, as another shopper once bought light fixtures for $7 and sold them for $2,600 on eBay.

The National Press Club will host a briefing on the status of imprisoned U.S. journalists, including Austin Tice and Evan Gershkovich. The event will feature speakers from the Washington Post, Wall Street Journal, National Press Club, and others. It will be livestreamed on the NPC YouTube channel.

Cardinal Health’s pharmaceutical distribution contracts with OptumRx, a subsidiary of UnitedHealth Group, will not be renewed beyond June 2024. Despite this, Cardinal Health reaffirmed its fiscal 2024 adjusted EPS guidance and remains committed to its long-term growth targets. The company expects to partially offset the impact of OptumRx through new customer acquisitions and specialty growth.

Four Corners Property Trust (FCPT) is a diversified REIT focused on owning net-leased restaurants, medical and dental services, automotive services, and other retail properties in the U.S. Sun Belt. The company has been steadily growing its revenue and earnings while maintaining a high dividend yield. Recent positive fourth-quarter operating results and a strategic acquisition further strengthen its position. This makes FCPT an attractive option for investors seeking passive income and long-term appreciation potential.

Analysts have provided a mix of bullish and bearish perspectives on Monday.Com (MNDY) in the past three months. The average price target for the next 12 months is $246.15, with a high estimate of $280.00 and a low estimate of $190.00. Key insights from analysts include: David Hynes of Canaccord Genuity lowered his rating from Buy to Neutral, while Michael Berg of Wells Fargo initiated coverage with an Overweight rating. Jason Celino of Keybanc raised his price target twice, indicating growing confidence in the company’s prospects.

Analysts have provided diverse ratings for Glacier Bancorp in the past three months. Four analysts have issued ratings, with a mix of bullish and bearish perspectives. The average 12-month price target is $42.75, with a high estimate of $45.00 and a low estimate of $40.00. Glacier Bancorp’s revenue growth has faced challenges, while its net margin remains strong. The company’s ROE and ROA are below industry averages, and its debt-to-equity ratio is above industry norms.