Monday’s Headlines: Tesla Takes The Lead In China

Monday’s Headlines: Tesla Takes The Lead In China

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️

GoPro (GPRO) +4.1%

Align Technology (ALGN) +2.9%

Copart (CPRT) +2.7%

Amazon (AMZN) +2.2%

RH (RH) +2.0%

Moving Down ⬇️

Chuy's (CHUY) -4.1%

Peloton Interactive (PTON) -4.1%

Huazhu Hotels Group (HTHT) -3.9%

Baozun (BZUN) -3.8%

Nautilus (NLS) -3.8%

1. Following Tesla’s (TSLA) recent announcement of a record 184,000 deliveries in 2020, China has confirmed the automaker’s dominance in the region. According to the China Passenger Car Association’s data, Tesla delivered 69,280 vehicles in the region for Q1, including a record 35,000 deliveries alone in March. The industry has now fully recovered to pre-pandemic results and Tesla is riding that wave with its lead in the local EV market over local rivals NIO (NIO) and Xpeng. Despite this, Tesla shares are down pre-market, with its total share price year-to-date falling more than 7%. Read the complete report here

2. Microsoft (MSFT) is reportedly in advanced talks to buy artificial intelligence and speech technology company Nuance Communications. The price being discussed is about $16 billion, which would value Nuance at around $56 per share, and would be Microsoft’s second-largest acquisition ever following $26.2 billion purchase of LinkedIn in 2016. Nuance’s technology was used in the production of Big Tech rival Apple’s (AAPL) Siri development, with no clear idea so far as to what Microsoft wishes to achieve from bringing the company on board. An announcement is expected sometime early this week. Read the full story here.

3. Stock futures are falling in pre-market trading following record closes on Friday for the Dow Jones (DIA) and S&P 500 (VOO). The pair each rose 2% last week, with the tech-heavy Nasdaq (QQQ) rallying more than 3% in the same period as investors flocked to big tech names. The first-quarter earnings reporting season begins this week, with expectations set for broadly positive news and an uptrend for U.S. equities thanks to a recovering economy. As usual, the banks will lead the charge with the likes of Goldman Sachs (GS) and JPMorgan Chase (JPM) showing us their books. Get a rundown of the week ahead here.

JamieJamie

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