Tesla Inc. warned investors late Wednesday that it may make fewer vehicles this year than in 2023 to focus on its next-generation EV, sending the stock tumbling more than 3% after-hours Wednesday. “In 2024, our vehicle volume growth rate may be notably lower than the growth rate achieved in 2023, as our teams work on the launch of the next-generation vehicle at Gigafactory Texas,” the EV maker said in a letter to shareholders accompanying its fourth-quarter results. The company is in between “two major ...

Better late than never? Advanced Micro Devices Inc. shares AMD, +5.55% have shot up 140% over the past year, but an analyst at New Street Research says there’s still time to jump on the bull train. New Street’s Pierre Ferragu upgraded AMD’s stock to buy late Tuesday, while setting a $215 target price for late 2024. That implied more than 25% upside from Tuesday’s close, though the shares were roaring more than 5% higher late in Wednesday’s session. Don’t miss: Why Marvell just dethroned Nvidia as Citi’ ...

Bank of America Corp. has issued “letter of education” messages that threaten disciplinary action against employees who choose to work from home, as the megabank puts some teeth into its return-to-office mandates.Bank of America and other big banks have not updated their postpandemic return-to-office policies despite a surge in COVID cases over the winter, although if employees are sick, they are being urged to stay home.Also read: Looking for a remote job? Your chances of finding one are dropping, Indeed s ...

Tesla Inc. is slated to update investors on its fourth-quarter earnings on Wednesday after the bell, with analysts especially eager to hear the EV maker’s guidance for 2024. A 5:30 p.m. Eastern call with analysts will follow the earnings, and the Q&A will be webcast. Here’s what to expect from Tesla TSLA, +0.93% :Earnings: Analysts surveyed by FactSet expect Tesla to report adjusted earnings of 73 cents a share, which would compare with adjusted earnings of $1.19 a share in the fourth quarter of 2022. Reve ...

Boeing’s chief executive on Wednesday said the company doesn’t fly airplanes that aren’t safe, as he arrived on Capitol Hill for meetings with U.S. lawmakers amid scrutiny of the aviation giant. Safety concerns involving Boeing have multiplied after a panel tore off a 737 Max 9 jet flown by Alaska Airlines this month. On Tuesday, United Airlines Holdings Inc. UAL, +1.10% said it was rethinking its longer-term plans for Boeing’s BA, +0.83% biggest 737 Max jet, the Max 10, after the government’s grounding ...

FreePort-McMoRan Inc.’s stock rose 6.3% on Wednesday after the mining giant’s fourth-quarter profit and revenue beat Wall Street projections, with its copper volumes exceeding its earlier estimate.FreePort-McMoRan FCX, +4.83% also said it expects to produce more gold in 2024, while its copper production will remain flat.The company said its fourth-quarter earnings for the three months that ended Dec. 31 fell to $388 million, or 27 cents a share, from $697 million, or 48 cents a share, in the year-ago quarte ...

AT&T Inc. expects to see further improvements to free cash flow in the year ahead as its wireless and fiber businesses continue to grow.The telecom company on Wednesday reported $16.8 billion in free cash flow for last year, above its prior increased forecast of roughly $16.5 billion. Looking at 2024, AT&T T, +2.32% models $17 billion to $18 billion on the metric, whereas analysts were expecting $17.35 billion. Free cash flow is a key metric to AT&T investors given that it supports the company’s dividend, w ...

Futures showed the S&P 500 on course for another record as a batch of well-received earnings, calmer bond markets and a monetary boost in China lifted risk appetite.On Tuesday, the Dow Jones Industrial Average DJIA fell 96 points, or 0.25%, to 37905, the S&P 500 SPX increased 14 points, or 0.29%, to 4865, and the Nasdaq Composite COMP gained 66 points, or 0.43%, to 15426.What’s driving markets Technology stocks looked like leading Wall Street higher again on Wednesday, after Netflix NFLX, +1.33% jumped 10% ...

Europe’s largest tech company, ASML Holding, on Wednesday held onto its conservative outlook for 2024 despite promising signs of a recovery in the semiconductor industry that saw it receive a record €9.2 billion worth of orders in the final quarter of 2023. The Dutch company which makes the machines used to manufacture microchips saw its orders rise from €6.3 billion in the year-earlier quarter and €2.6 billion in the third quarter, as its books were bolstered by €5.2 billion in orders for its cutting-edge ...

Netflix Inc.’s growing advertising business is proving that the streaming company’s bet that its customers would tolerate commercials in exchange for a cheaper price is paying off, and Wall Street should win as well. In November 2022, Netflix launched ad-supported subscription tiers, a complete about-face on its longstanding policy to never have commercials on its service. Some were skeptical that this move, which harkens back to broadcast TV, would work.But Netflix is proving those naysayers, including thi ...