Tesla shares fell in aftermarket trading after Wells Fargo downgraded the automaker to underweight from equal weight and set a price target of $125 (£97.57) from $200.
Wells Fargo has expressed concern that Tesla's price cuts in China are hurting demand for electric vehicles.
Tesla cut the prices of some Model 3 and Y vehicles in China in January amid slowing demand and increased competition. That same month, Tesla CEO Elon Musk warned that growth would be “significantly lower” this year.
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However, many analysts believe the decline in demand may stabilize in the second half of this year, giving Tesla's average rating on Wall Street a “hold.”
Wedbush analyst Dan Ives told Reuters: “While we agree that price competition in China is fierce, industry research suggests that many of these price cuts will occur in the spring and summer of 2024. I have a feeling that things are starting to subside.”
It may be one of the Magnificent Seven, but Apple has had a rough start to 2024, with its stock price falling about 7% due to poor iPhone sales and App Store lawsuits, while falling behind in AI. taking it.
But for the second-largest listed company by market capitalization, that may not necessarily be a pessimistic story.
“We think [Apple’s] AI strategies focus on incorporating on-device inference. [large language models] This significantly improves the user experience for iPhone as well as Mac/iPad,” Evercore ISI analyst Amit Daryanani wrote in a recent investor note.
Daryanani said growth in Apple's services is “underestimated” and “growth is expected to be in the low-teens range.” [fiscal 2024]”
Shell's boss was paid nearly £8m last year after the oil major watered down one of its climate change pledges.
Schell said Wael Sawan's total salary during this period was worth £7.94m, down from the £9.7m his predecessor Ben van Beurden earned in 2022. , which was higher than Van Beurden's 2021 remuneration.
Mr Sawant's package included a basic salary of £1.4m, annual bonuses of £2.7m and long-term incentive payments of £2.6m.
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Shell said it now plans to reduce the “net carbon intensity” of the energy it sells by 15-20% by 2030 compared to 2016. The previous goal was to reduce this measure by 20%.
Deliveroo (ROO.L)
Deliveroo reported narrowing losses and increasing revenue in what the group described as a “resilient year of growth” as consumers paid more for fewer orders.
The group posted a loss of £31.8m for the year, significantly lower than the £294.1m loss reported in 2022.
Total order value fell by 3% to £290m, but transaction value per order (GTV) increased by 6% from £22.90 to £24.30, due to price inflation and higher consumer fees. Deliveroo said this reflects the
The group said its aim was to launch a retail business “in the GTV region of £700m by 2028”.
GTV growth for the current financial year is expected to be in the range of 5% to 9%, with adjusted EBITDA expected to be between £110m and £130m.
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