Walmart's logistics business is pressuring Amazon's own, according to Wells Fargo analysts.Walmart is offering a cheaper version of Fulfillment by Amazon, which could limit Amazon fees.Wells Fargo cut its rating on Amazon to equal weight from overweight Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed ...

Core Viewpoint - Elon Musk aims to position Tesla as a technology company rather than just an electric vehicle (EV) manufacturer during the upcoming Robotaxi Day event, especially as Tesla faces declining revenues [1][3][5]. Group 1: Tesla's Strategic Shift - The Robotaxi Day event is intended to emphasize Tesla's ambitions in artificial intelligence, robotics, and autonomous vehicles, moving beyond traditional automotive manufacturing [3][4]. - Musk has previously indicated plans for a fleet of one million driverless robotaxis, although he missed the initial 2020 deadline for this goal [6][8]. - Tesla's focus on humanoid robots and driverless cars is seen as a way to leverage artificial intelligence for future growth, especially following the rise of AI technologies like ChatGPT [6][7]. Group 2: Financial Performance - In the first half of the year, Tesla reported revenues of $46.8 billion, a decrease from $48.3 billion in the same period the previous year [8]. - Despite a 6.4% year-on-year increase in deliveries for the third quarter, Tesla's market value remains significantly lower than its peak of $1.2 trillion in November 2021, currently over $600 billion short [8]. Group 3: Market Challenges - Tesla faces significant competition in the robotaxi market, with established players like Waymo and Baidu already deploying their own robotaxi services [9][10]. - Regulatory concerns regarding the safety of autonomous vehicles could impact public perception and acceptance of Tesla's robotaxi ambitions, especially following incidents involving other companies' self-driving vehicles [10][11]. - Experts highlight the technical challenges of achieving full autonomy in driving, suggesting that current capabilities may be limited to specific conditions and locations [11].

Boeing is set to resume negotiations with union bosses on Monday.The strike is costing Boeing $50 million a day, a BofA analyst estimated.33,000 members of the IAM union have been on strike since September 13. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address ...

TSMC has high power usage, and Taiwan's tight electricity supply will test its chip production.Taiwan's sluggish electricity growth challenges the semiconductor industry's expansion.TSMC aims for net zero emissions by 2050, but renewable energy growth faces hurdles. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a perso ...

Starboard Value has taken a significant stake in Pfizer, said people familiar with the matter. The drug giant's stock has dropped significantly since its 2021 COVID-19 vaccine rollout. Starboard has recently taken positions in Starbucks and Match. Insider Today NSIDER TODAY Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a pe ...

Core Viewpoint - Vista Outdoor is selling its two divisions, Revelyst and Kinetic Group, for a total of approximately $3.4 billion, with the sale of Revelyst valued at around $1.13 billion and Kinetic Group at about $2.23 billion [1][3][4]. Group 1: Transaction Details - The sale of Revelyst, the sporting goods business, is an all-cash transaction expected to be completed by January [3]. - The sale of Kinetic Group, Vista's ammunition business, has seen an increase in sale price from $2.15 billion to approximately $2.23 billion due to an amendment in the merger agreement [4]. - The combined enterprise value of both transactions is estimated at $3.35 billion, which will provide around $45 per share in cash to Vista Outdoor stockholders [4]. Group 2: Strategic Implications - The chairman of Vista Outdoor's board emphasized that these strategic sales are aimed at unlocking maximum value for shareholders and positioning both divisions for continued success under new ownership [5]. - Czechoslovak Group is advised by JPMorgan for the Kinetic Group deal, while Morgan Stanley is advising Vista Outdoor [5]. Group 3: Company Performance - Vista Outdoor's stock price has increased by approximately 35% since the beginning of the year [6]. - The company, which employs nearly 6,000 people globally, announced its plan to split into two divisions in 2022 [6].

Meta just launched Movie Gen, an AI video generator to compete with OpenAI's Sora.Movie Gen can make videos with accompanying audio using a text prompt. It can also edit by prompt.Meta joined the video generation race later than OpenAI and Google. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while ...

Microsoft told customers that a software bug caused inconsistent collection of log data.The bug affected key security products, including Microsoft Sentinel and Entra.Microsoft has been saying recently that security is its top priority. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on t ...

Warren Buffett has sold 23% of his Bank of America stake for about $10 billion since mid-July.Berkshire Hathaway's American Express stake is now more valuable than its Bank of America bet.Buffett cashed in about 56% of his massive Apple bet in the first half of this year. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a ...

Amazon's Management Restructuring Plan - Amazon plans to reduce the number of managers by approximately 13,834 roles, which could save the company between $2.1 billion to $3.6 billion next year [1][3][5] - CEO Andy Jassy aims to increase the ratio of individual contributors to managers by at least 15% by the end of Q1 2025, aiming to reduce bureaucracy and improve operational efficiency [2][4] - Morgan Stanley estimates that 7% of Amazon's workforce is in management positions, with the total number of managers expected to drop from 105,770 to 91,936 by early next year [4] Cost Savings and Efficiency - The cost savings from cutting manager roles could account for 3% to 5% of Amazon's projected operating profit for 2025 [5] - Morgan Stanley assumes the annual cost per manager ranges between $200,000 to $350,000, contributing to the significant savings [5] - The restructuring is part of Amazon's broader effort to flatten the organization, remove unnecessary layers, and operate more efficiently [6] Workforce and Organizational Impact - Amazon has over 1.5 million employees globally, with a significant portion working in warehouses and logistics rather than corporate roles [6] - The company stated that it has added many managers in recent years and now is the right time to review and adjust organizational structures [4] - Amazon emphasized that the changes are aimed at strengthening the company's culture and organizations, though it declined to comment on Morgan Stanley's specific projections [4]