Tesla Motors released V10 of its vehicle software, a key upgrade that brought the much-anticipated "Smart Summon" feature, which allows drivers to summon their vehicles to them using their cell phones.
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| | Good morning. Tesla Motors released V10 of its vehicle software, a key upgrade that brought the much-anticipated "Smart Summon" feature, which allows drivers to summon their vehicles to them using their cell phones. While the company is quick to boast of this latest James Bond-like tech, the first users have different things to say.
With a number of growing videos being posted of the cars careening out of control or running into objects like other cars and garages, there's yet another potential liability for the car company already in the spotlight for numerous other practices. However, the biggest criticism of all has come from Tesla owners upset that other owners are sharing their harrowing experiences with the feature.
| | | | | | | | | | DOW 26,916.83 | +0.36% | | | | S&P 2,976.74 | +0.50% | | | | NASDAQ 7,999.34 | +0.75% | | | | *As of market close | | • | Stocks modestly rose, on trade-related optimism.. | | • | Oil prices declined almost 3 percent, to around $54.30 per barrel. | | • | Gold dropped 1.8 percent, to $1,480 per ounce. | | • | Cryptocurrencies popped higher, with Bitcoin nearing $8,250. | | | | | | WedBush Upgrades Bed Bath & Beyond (BBBY) | | | | WedBush upgraded shares of Bed Bath & Beyond (BBBY), from neutral to outperform. The research firm also upgraded its 12-month price target to $16 from $14. With shares trading around $10.50, that suggests at least 50 percent upside for shares of the big box retailer.
The analysis justifying the upgrade cited improved governance following some changes among the board of directors, as well as guidance to streamline stores and make them less cluttered ahead of the holiday season.
» FULL STORY | | | | | | Micron Emerson Electric Upgraded by RBC | | | | Royal Bank of Canada raised its rating on Emerson Electric (EMR), to outperform from perform, citing the value of the company in a breakup. The move comes as the current CEO is retiring and several activist investors are moving in on shares to unlock value, and a breakup would be the fastest way to do so.
RBC also raised its price target on shares from $65 to $77, 15 percent higher than the current price, $67.
» FULL STORY | | | | | | Insider Activity: Interface Inc (TILE) | | | | Christopher Kennedy, a director at Interface Inc. (TILE), picked up 49,000 shares of the company, increasing his holdings by 55 percent. The total cost came to just under $675,000, and the director now owns over 136,000 shares.
Insiders have been inactive at the company since late 2017, with this marking the first buy at the company. Insiders have previously been net sellers of shares two years ago, at prices 25-35 percent higher than where shares currently trade.
» FULL STORY | | | | | | | Unusual Options Activity: Foot Locker (FL) | | | The October 19th $44.50 call options on Foot Locker (FL) saw nearly 2,000 contracts trade against a prior open interest of 147, for a 13-fold surge in volume. With shares trading around $42.70, shares need to rally at least 4 percent for the option to move in-the-money.
The company next reports earnings in late November, so the move higher will have to occur without that particular catalyst.
» FULL STORY | | | | | | | TOP | | LB | 3.432% | | | MAR | 2.981% | | | ALGN | 2.889% | | | NWL | 2.857% | | | CMG | 2.643% | | BOTTOM | | NOV | 3.811% | | | BHGE | 3.494% | | | MPC | 2.675% | | | NTAP | 2.597% | | | MAC | 2.228% | | | | | | | | | It was one heck of a run, but paying extraordinary valuations for anything is a bad idea, particularly for businesses that may never generate a positive stream of cash flows. If you ask me, that's just common sense and it's a good thing if the markets go back to a more disciplined mindset. The problem is that some stocks in the public markets still need to fall back to earth, and they reside in the secular growth category. | | - Morgan Stanley's Michael Wilson on the failed IPOs of several high-profile companies this year. | | |
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