On Wednesday, most electric vehicle stocks declined. Tesla (TSLA, Financial) fell over 5.7%, closing at $243.1. The company's third-quarter vehicle deliveries did not meet expectations because incentives and low-cost financing failed to boost demand for its older models in a competitive market. Tesla delivered 462,890 vehicles in the three months ending September 30, marking a 6.4% increase from the previous quarter.Other electric vehicle manufacturers saw mixed results. Nio (NIO) dropped over 2%, XPeng (XP ...

On October 2, European stock markets experienced widespread declines, with major indices like France's CAC40 and Germany's DAX falling. In the US market, all three major indices opened lower. As of the latest update, Tesla (TSLA, Financial) shares fell nearly 6%, and Nike (NKE) shares dropped almost 8%.In contrast, Chinese assets saw a surge, with the Nasdaq Golden Dragon China Index jumping over 5%. Notable stocks like Agora (API), which surged more than 100%, Bilibili (BILI), JD.com (JD), New Oriental (ED ...

Core Viewpoint - Conagra is facing significant backlash after missing earnings expectations due to a larger-than-expected year-over-year sales decline in Q1, marking a surprising deviation from its previous performance since Q3 2020 [1] Group 1: Financial Performance - Conagra's earnings and sales fell by 19.7% and 3.8% year-over-year, respectively [2] - Organic net sales, excluding foreign exchange impacts, divested businesses, and M&A, declined by 3.5% [2] - Volumes decreased by 1.6% year-over-year, marking Conagra's 14th consecutive quarter of volume decline [2] Group 2: Operational Challenges - A manufacturing disruption at the Hebrew National hotdog plant during peak grilling season led to a 47% drop in sales year-over-year for that brand [2] - The disruption reduced consolidated volumes by 60 basis points and total organic sales by 90 basis points [2] - The Refrigerated and Frozen segment experienced a loss of an estimated 150 basis points in volumes and 210 basis points in organic net sales [2] Group 3: Management Outlook - Management expects Q1 to be an outlier, with most of the impact from the plant disruption confined to this quarter [3] - The company reiterated its FY25 guidance, including adjusted EPS of $2.60-2.65 and organic sales growth from negative 1.5% to flat year-over-year [3] - Management noted that staples volumes should continue to improve as the company exits Q1, with around 71% of Conagra's portfolio holding or gaining volume share in Q1 [2]

Core Insights - The latest data from the US Energy Information Administration (EIA) indicates significant changes in oil and gasoline inventories [1] Inventory Changes - Gasoline inventories increased by 1.119 million barrels, surpassing the expected rise of 200,000 barrels [1] - Distillate fuel oil inventories decreased by 1.284 million barrels, which is less than the anticipated drop of 2 million barrels [1] Crude Oil Metrics - Cushing, Oklahoma's crude inventories rose by 840,000 barrels [1] - Refinery utilization rates fell by 3.3 percentage points, a more substantial decline than the forecasted 0.7 percentage points [1] Import and Production Data - Crude oil imports increased by 172,000 barrels per day [1] - Daily crude oil production rose by 100,000 barrels per day [1]

Group 1 - A Republican victory in the upcoming election is viewed as the most favorable outcome for the U.S. stock market, particularly benefiting the energy and financial sectors [1] - Trump's potential win on November 5th, along with Republican majorities in both the Senate and House, is considered the best scenario for the stock market, while a divided Congress may have a slightly positive effect [2] - A decisive victory by the Democratic Party is seen as the most pessimistic outcome for the stock market, although opinions on all election outcomes are only marginally inclined [3] Group 2 - The tight race between candidates has shifted focus to the potential impact of their policy proposals as the election date approaches [4]

Core Viewpoint - Tesla reported its first quarterly sales growth of the year, delivering 462,890 vehicles in Q3, a 6.4% year-over-year increase, but fell short of analysts' expectations [1][2] Group 1: Sales Performance - Tesla's Q3 deliveries marked an end to a slump, following declines in vehicle sales in the first two quarters of the year [2] - The company experienced a temporary stock decline of 6.4% in the New York market after the report, despite a previous surge of 35% over the eight weeks leading up to the report [1] Group 2: Future Outlook - Tesla plans to commence production of more affordable models by the first half of 2025, despite cautioning about a potential slowdown in growth for this year [2] - Anticipation is building for Elon Musk's upcoming autonomous vehicle prototype presentation, which he has described as historic [1]

Core Viewpoint - Nike experienced a significant decline in stock price, dropping over 8% to $81.77 per share, following a disappointing first-quarter revenue report [1] Financial Performance - The company's first-quarter revenue fell by approximately 10% compared to the same period last year [1] - Due to the revenue decline, Nike will retract its full-year performance outlook [1] Corporate Actions - Nike has decided to postpone its investor day event in light of the recent financial performance [1]

In September, US companies increased hiring activity, ending a five-month slowdown in employment growth. Data from the ADP report, often called "mini non-farm payrolls," showed an increase of 143,000 jobs, surpassing economists' expectations of 125,000, while August saw the smallest gain since March 2023. Although job numbers bounced back, the three-month average fell to 119,000, the lowest since 2020.Other indicators also suggest a cooling US labor market: the unemployment rate has steadily risen in recent ...

Cupertino-based tech giant Apple has been on a superb six-month surge, rebounding sharply from its April lows with impressive momentum. Since April, it has been a sea of green for Apple investors, pocketing more than 30% in gains over the past six months. Moreover, with the iPhone upgrade super cycle underway and despite the concerns, the iPhone 16 is proving to be a strong seller, with analysts optimistic about Apple stock's performance. However, after its powerful surge in value, the stock trades at a siz ...

Over the past few quarters, Shopify's stock has been on a rollercoaster ride, with notable price volatility. However, the company's Q2 FY24 earnings report brought some much-needed optimism, as the stock surged over 22% on the day of the announcement last week. This rally was driven by the performance of Shopify's e-commerce business, which stood out in a challenging macroeconomic environment, whilst many competitors fell short. The market's initial reaction might have been driven by concerns about declinin ...