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TSLA manages a slight bump in deliveries, but hardly justifies their inflated value. On deck, the shiny new object; Robotaxi......anyone with a realistic view knows that TSLA isn't even close to full driving autonomy. An autonomous Robotaxis is years in the future, if ever. I suppose the fan club will fawn over the event and declare Robotaxis are just around the corner. Meanwhile BYD just chugs along chewing up market share and expanding their manufacturing and product offering. BYD is what Tesla could have been.
BYD one year high and moving higher. BYD will be the dominant player in the market for years. Well diversified beyond just EV cars and trucks.
TSLA MC 820B
BYD MC 124B
Plenty of upside
So, the FTC claims John Hess colluded_with OPEC on price-fixing, an allegation I find preposterous from an economic standpoint. I.e., HES is hardly in a position to affect oil prices to a material degree.
From the WSJ:
https://www.wsj.com/business/energy-oil/ftc-warns-of-oil-patch-collusion-energy-executives-see-political-smear-6c1b6959
FTC clears CVX-HES deal:
https://finance.yahoo.com/news/chevron-hess-merger-clears-ftc-150300046.html
I still don’t understand why the FTC insisted that John Hess not be allowed to join CVX’s BoD.
longshoremen prepare to strike East coast ports
https://www.washingtonpost.com/business/2024/09/28/port-strike-longshoremen-union-shipping
https://www.cbsnews.com/baltimore/news/strike-longshoreman-baltimore-port-economy/
This could be bad.
Why_would_the FTC exclude John Hess from CVX’s BoD?
https://finance.yahoo.com/news/chevron-agrees-hess-ceo-not-153234408.html
I'm aware of that. A negative response from the government could go down as one of the stupidest decisions in a long time.
No decision on Nippon's buyout is coming from the Biden administration until after the election.
An arbitration board has ruled that U.S. Steel may proceed with its proposed acquisition by Nippon Steel, a deal that faces strong opposition from its workforce.
The board, which was jointly chosen by U.S. Steel and the United Steelworkers to decide disputes between them, said Wednesday that U. S. Steel has satisfied each of the conditions of the successorship clause of its basic labor agreement with the union and that no further action under the agreement was necessary in order to proceed with the closing of the proposed transaction with Nippon Steel.
USW had filed a series of grievances in January alleging that the successorship clause had not been satisfied. The union has previously stated that it doesn't believe Nippon fully understands its commitment to steelworkers, retirees and its communities. USW has expressed concern about the enforcement of its labor agreements, having transparency into Nippon's finances, as well as national defense, infrastructure and supply chain issues.
Fortescue Electrifies Iron Ore Trucks in $2.8 Billion Deal
Paul-Alain Hunt
Tue, September 24, 2024 at 8:25 PM EDT 2 min read
(Bloomberg) -- Fortescue Ltd., the world’s fourth-biggest iron ore miner, will pay $2.8 billion to replace two-thirds of its fleet of haulage trucks and equipment in Western Australia with electric versions, as it seeks to cut diesel consumption and meet ambitious emissions-reduction targets.
https://finance.yahoo.com/news/fortescue-inks-2-8-billion-223225627.html
DE closed slightly up today. Draw your own conclusions, LOL.
CAT exhibits latest mining equipment at MINExpo 2024:
https://finance.yahoo.com/news/future-starts-today-minexpo-2024-132500076.html
The stock hit an all-time high today.
Trump threatens DE with_steep tariff on_equipment_imported_from Mexico:
https://finance.yahoo.com/news/trump-vows-call-xi-elected-194518506.html
BYD continues to pull away from the pack
https://insideevs.com/news/734623/byd-seagull-best-selling-china/?utm_source=Klaviyo&utm_medium=campaign&_kx=12wFdFU2yACIHXNEiG-QsKItdCqYwsrNEcSsJJoyaXI.VCGm8F
Refer to my recent post RE Calif grid #29545
What is your basis for assuming the power source is 60% renewables and 40% NG?
EV charging price check in SF area - just amazed at the pricing and implied gross margins. Low cost charging can be had via PowerFlex at ~20 cents/kw typically at public facilities like school parking lots on weekends. However, more typical regular hour charging being priced at ~40-60 cents/kw at shopping areas and people are using them (1 empty charger out of 20 at 3:30PM at 56 cents/kw) for convenience while shopping. For reference, I topped off 15kw for $6.45 for 27 miles of range the other day at public school. The equivalent gasoline cost for those added miles would have been ~$4. The cost of that EV charge (assuming 60% renewables and 40% NG) including transmission ~ $1. There is no way for H2 to ever be adopted or for O&G downstream to compete with those current margins.
From the same PR:
WY touts forests as climate-change mitigation_vehicle:
https://finance.yahoo.com/news/weyerhaeuser-nature-conservancy-announce-joint-203000748.html
CAT—Apropos_to_a_prior_discussion_about recharging electric-powered mining equipment:
https://finance.yahoo.com/news/caterpillar-introduces-groundbreaking-dynamic-energy-130500514.html
Trade "wars" always have a detrimental affect on global economic growth and often result in resource misallocation. If you believe the rhetoric emanating from the mouths of politicians in the EU and USA we are facing years of subpar global growth and bouts of persistent inflation. Politicians pandering to constituents are analogous to sand tossed into an ICE. LOL..........
Note.....The old saying; "when the US sneezes, the world catches a cold", might morph into; when China catches a cold the world catches the flu.
More multinational firms pulling back from China:
https://www.wsj.com/world/china/western-firms-that-flocked-to-china-are-now-pulling-back-ea2f3c27
NKGN - PR about what was mentioned in HC Wainwright presentation regarding starting Ph 2 clinical trial and 3 month interim results for first 3 patients.
https://nkgenbiotech.com/nkgen-biotechs-positive-phase-1-clinical-data-in-moderate-alzheimers-disease-advances-troculeucel-into-phase-2-with-first-patient-dosed-in-phase-1-2a-trial/
If they have fuel cells that would make 2028 possible, then they could demonstrate those engines now. If they can’t/wont do that, then vaporware
AD therapy - using autologous NK cells. Intriguing results but I wonder how it can be commercially scaled up since it is autologous. Below is the replay from HC Wainwright conference from last Monday.
https://journey.ct.events/view/fe1b7363-0853-41ec-be6a-17e0e81f8ff2
H2 refueling stations are all but non-existent.
Sounds like a trial balloon. Haven't done any research but I assume fueling locations are minimal.
SEC fines Esmark/ex-CEO for_lying_wrt X buyout offer:
https://finance.yahoo.com/news/esmark-ex-ceo-settle-sec-181828171.html
BMW, Toyota collaborate on hydrogen-powered vehicles:
https://www.wsj.com/business/autos/bmw-toyota-aim-to-make-hydrogen-powered-evs-mainstream-with-partnership-e93f47ac
CLF is ready to acquire Mon Valley assets that X might abandon if Nippon’s buyout of X is blocked by the US government, according to a PR today:
https://finance.yahoo.com/news/cleveland-cliffs-commends-president-biden-204600079.html
Any such acquisitions would presumably be at fire-sale prices.
I agree. Whenever I use GT I'm impressed with how quickly and accurately it completes the task.
SHEL—Environmental activists put North Sea project at risk:
https://finance.yahoo.com/news/stopping-north-sea-drilling-risks-134337235.html
It's mildly interesting to take the link that semi_infinite provided, which is to a Korean news report, and compare the results of Google translate to the AI translation that you get if you click on the English button on the website itself. I can't speak to which is more accurate but the Google translate is certainly better English and reads more naturally.
ABT’s Lingo CGM now shipping in US:
https://finance.yahoo.com/news/abbotts-lingo-continuous-glucose-monitor-130000534.html
JNJ increases talc settlement offer from $8B—>$9B:
https://finance.yahoo.com/news/johnson-johnson-wins-over-longtime-201240773.html
MSFT/PLTR/GOOG in that order at Samsung for online customer service AI. They ran a in-house 3 way shoot out for customer assistance AI platform under "Rubicon Project".. If results hold up after initial release, it will be introduced globally next spring.
https://www.etnews.com/20240902000267
Definitely but I would rate the shift of MSFT AI R&D as being more significant than whatever IBM was doing in China.
https://www.cnbc.com/2024/05/16/microsoft-offers-relocation-to-hundreds-of-china-based-ai-staff-.html
Maybe Nippon is reacting to the story in yesterday’s NYT:
https://www.nytimes.com/2024/08/26/business/nippon-steel-us-steel.html
Nippon Steel Looks to Woo US Union With Extra $1.3 Billion
Additional investments pledged for Mon Valley, Gary operations
Plants are among the legacy shops operated by US Steel
Bloomberg
Nippon Steel Corp. plans to invest an additional $1.3 billion at plants operated by United States Steel Corp. as the Japanese company steps up efforts to secure union support for a takeover bid that’s been opposed by both President Joe Biden and Donald Trump.
Nippon Steel plans to make the investments at the Mon Valley Works and Gary Works, as part of its pending $14.1 billion acquisition of US Steel, it said Wednesday in a statement.
Mon Valley, a flagship plant where founder Andrew Carnegie built his first mill in the 1870s, and Gary are among the legacy US Steel operations that use traditional blast-furnace production of steel from iron ore. Those types of facilities are typically unionized, and increasing spending to extend their lifelines is part of a bid by Nippon Steel to garner support from the United Steelworkers union, which has so far opposed the corporate tie-up.
https://www.bloomberg.com/news/articles/2024-08-28/nippon-steel-plans-additional-1-3-billion-spending-at-us-steel?srnd=homepage-americas&sref=XLA0GJqR
That didn't last long, LOL.
CLF—(+6% this week)—benefiting from Canada’s new 25% tariff on steel imports (and EVs) from China:
https://www.nytimes.com/2024/08/26/business/canada-ev-tariffs-china.html
We all remember the busting of the internet bubble at the turn of the century?
Many charts looked like CSCO>>>
https://finance.yahoo.com/quote/CSCO/
Look at some comparable max charts now in assorted industries today
https://finance.yahoo.com/quote/COST/
https://finance.yahoo.com/quote/WMT/
https://finance.yahoo.com/quote/AAPL/
https://finance.yahoo.com/quote/AMZN/
Yes, fallacy of small sampling, but surely, I can find more.
Food for fear?
Does IBM qualify?
IBM closes R&D center in China:
https://finance.yahoo.com/news/ibm-shut-china-r-d-074741070.html
See #msg-172191068 for related info.
Saw a TV ad for Hummer this past week. Line up the Hummer in the road adjacent to the parking space, all 4 wheels can be turned at once to quickly glide you into the parking space. The ad did not show whether removal of rear seats would convert the vehicle to a truck, tho’ that would be logical. We have no use for any vehicle that big; we will stay with our 2020 Audi-S4.
Understood. Thanks.
I own a mini-van so we can toss loads of stuff in the back without packing carefully if we go on a long trip.
Storage space is useful.
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In many nations, a middle class is emerging for the first time in history.
Companies who satisfy the demands of these consumers in a sustainable manner should have bright prospects.
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