Stocks fell sharply on Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.Marketsread more
The yield on the 10-year Treasury note fell to its lowest level since 2017 as more traders grew confident in a longer U.S.-China conflict.Bondsread more
A Ministry of Commerce spokesperson does not single out any U.S. action, but it's been a tense couple of weeks for the trade war.World Politicsread more
"For them to say that they don't work with the Chinese government is false," Secretary of State Mike Pompeo tells CNBC.Politicsread more
Facebook has stopped paying commission to staff for selling political advertisements on its platform, The Wall Street Journal reported.Technologyread more
Oil prices dropped on Thursday, extending falls from the previous session amid surging U.S. crude inventories as low refinery runs and ongoing trade tensions weighed on the...Energy Commoditiesread more
U.S. manufacturer growth hit new lows in May, the latest sign that the economic slowdown accelerated amid the ongoing trade war.Economyread more
No timetable has been set on returning the money to outside investors in Tepper's Appaloosa Management, source says.Hedge Fundsread more
Wall Street is under pressure, but a handful of stocks are breaking out to new highs. McDonald's, Waste Management, Hershey, Visa and Costco have notched records this month,...Trading Nationread more
Huawei is winning over more and more Apple fans in China as the escalated trade tensions stoked "nationalist sentiment," according to South China Morning Post.Marketsread more
Celebrity chef Mario Batali is being charged with indecent assault and battery, more than a year after admitting to sexual misconduct.Restaurantsread more
Morgan Stanley cut its Tesla price target Monday, saying it expects the automaker to deliver fewer vehicles in 2019, especially its high-end Model S sedan and Model X sport utility vehicle.
Morgan Stanley analyst Adam Jonas lowered his price target on Tesla from $260 to $240 a share, and cut forecasts for a number of key financial metrics, including earnings, revenues, cash flow and gross margins after the company reported disappointing first-quarter deliveries last week. Jonas has the equivalent of a neutral rating on the stock.
Tesla shares were up nearly 1 percent Monday in morning trading. The stock has lost more than 17 percent of its value since the beginning of the year.
Apart from declining deliveries, negative sentiment around Tesla's stock also could begin to hurt the company's actual business, Jonas said.
"We are increasingly concerned about the impact that investor concerns over Tesla's financial strength and forward looking liquidity position could potentially have on employee morale, customer perceptions and standing with key stakeholders and suppliers," he said.
Jonas now expects Tesla to deliver 344,000 vehicles in 2019, which is at the low end of Tesla's own guidance and down from Jonas' previous forecast of 362,000 units. He expects Tesla to deliver an average of 14,800 Model S and X vehicles per quarter and 287,500 Model 3 midsize sedans for the year.