Group 1 - Major U.S. stock index futures are showing slight increases, with Dow futures up 0.14%, S&P 500 futures up 0.13%, and Nasdaq futures up 0.16% [1] - Chinese concept stocks are mixed in pre-market trading, with Alibaba down 2.31%, Pinduoduo down 1.34%, JD.com down 0.32%, Ctrip up 2.80%, Baidu down 2.57%, and Li Auto up 0.47% [1] - Stellantis shares rose 3.4% after reporting a 13% year-on-year increase in global deliveries to 1.3 million units in Q3, with North American deliveries up 35% to 403,000 units [1] Group 2 - Spot silver prices have risen nearly 4% to over $51 per ounce [2] - Google is tightening its remote work policy, which may impact employee work-from-anywhere allowances, leading to a 0.2% increase in its stock price [2] - Intel shares increased by 2.1% following the announcement of its first 1.8nm process chip, which boasts a 50% performance improvement at the same power level compared to its predecessor [2] Group 3 - Qualcomm is under investigation for allegedly violating antitrust laws related to its acquisition of Autotalks, resulting in a drop of over 3% in its stock price [2] - The U.S. is investigating 2.88 million Tesla vehicles equipped with "full self-driving" systems due to safety violation reports, causing Tesla's stock to decline by 0.3% [3] Group 4 - Bernstein has lowered its target price for Ferrari from $554 to $475 [4]

Core Viewpoint - Bernstein's analysts report that Ferrari's long-term financial guidance is significantly below market expectations, leading to a 15% drop in its stock price during trading in Europe and the U.S. [1] Financial Guidance - Ferrari's compound annual revenue growth target for 2024 to 2030 is set at only 5%, which is much lower than the market's average expectation of around 7% [1] - The guidance for adjusted EBIT margin exceeding 30% by 2030 is also below the market's common expectation of 32% or higher [1] Market Reaction - The market had anticipated a confident narrative regarding further developments in profit margins from Ferrari, but the actual guidance provided was described as "thin gruel" [1] - Bernstein has lowered the target price for Ferrari's stock from $554 to $475 while maintaining an "outperform" rating [1]

Group 1: Hong Kong Stocks - Nocera Biotech (09969) fell over 8% after announcing a licensing collaboration with Zenas for three self-immune pipeline products [1] - Pop Mart (09992) rose over 2% as new products sold out immediately, with Morgan Stanley optimistic about the company's sales momentum [1] - Bluec (00325) increased over 8% after launching new "building block cars" and "building block figures" at the WF2025 exhibition [1] - Huaxin Cement (06655) rose over 7% after announcing a name change to "Huaxin Building Materials" and a restricted stock incentive plan [1] - Mixue Group (02097) gained over 5% after announcing an investment of nearly 300 million in the fresh beer industry, potentially opening up long-term growth opportunities [1] - CATL (03750) dropped nearly 6% as the cornerstone lock-up period is set to expire on the 19th of next month, with both Morgan Stanley and others downgrading the company's H-share rating [1] - Dazhong Public Utilities (01635) rose over 9%, stating that its operations are normal and previously mentioned its stake in Shenzhen Capital Group [1] - Jinli Permanent Magnet (06680) increased nearly 1%, forecasting a year-on-year increase of 157%-179% in net profit attributable to shareholders for the first three quarters [1] Group 2: Gold Stocks - Gold stocks opened lower collectively, with China Gold International (02099) down over 7%, Zijin Mining International (02259) down over 1%, Shandong Gold (01787) down over 6%, and Chifeng Jilong Gold Mining (06693) down over 6% due to easing geopolitical tensions leading to a pullback in precious metals [2] Group 3: US Stocks - AMBO Education (AMBO.US) surged 61.06% after announcing the launch of a real-time translation platform, WeSpeak, for enterprises [3] - CenturyLink (VNET.US) fell 3.13% as Goldman Sachs included it in a "strong buy" list for the Asia-Pacific region [3] - UiPath (PATH.US) rose 18.81% after announcing multiple collaborations with major tech companies like NVIDIA, OpenAI, Google, Microsoft, and Snowflake [3] - Tuniu (TOUR.US) decreased by 0.51%, despite a double-digit increase in user travel during this year's "Double Festival" holiday compared to last year [3] - Tesla (TSLA.US) fell 0.72% after reports that production of its humanoid robot, Optimus, has been paused [3] - Toyota (TM.US) dropped 2.97% after a recall of over 390,000 vehicles in the US due to software errors [3] - Lloyds Bank (LYG.US) decreased by 3.67% as it may need to increase provisions following a compensation plan for mis-sold auto loans [3] - Ferrari (RACE.US) fell 14.99%, reaching a six-month low as long-term profit guidance fell below expectations [4] - TSMC (TSM.US) decreased by 1.52%, projecting a consolidated revenue of approximately NT$330.98 billion for September 2025, a 1.4% decrease quarter-on-quarter but a 31.4% increase year-on-year [4] - PepsiCo (PEP.US) rose 4.23% with Q3 net revenue increasing by 2.7% to $23.94 billion, and core EPS of $2.29, both exceeding expectations [4]

Ferrari's brand is built on roaring, gas-fueled engines. Are its fans ready for an electric supercar? https://t.co/cpZa0BLdY5 ...

Market Overview - U.S. stock markets closed lower after reaching intraday historical highs, with the S&P 500 and Nasdaq indices peaking at 6754.58 and 23062.62 points respectively [3][5] - The Dow Jones Industrial Average fell by 243.36 points, a decrease of 0.52%, closing at 46358.42 points [5] Federal Reserve Insights - Federal Reserve's Vice Chair, John Williams, expressed support for further interest rate cuts within the year to address potential labor market slowdowns [7] - Williams noted that the U.S. economy is not on the brink of recession and that inflation prospects have improved compared to earlier in the year [7] - Fed Governor Christopher Waller emphasized a cautious approach to further rate cuts, focusing on inflation risks while acknowledging vulnerabilities in the labor market [7] Tesla Developments - Approximately 2.9 million Tesla vehicles equipped with the Full Self-Driving (FSD) system are under investigation by the National Highway Traffic Safety Administration (NHTSA) due to safety concerns [8][11] - Reports indicate that FSD may have contributed to multiple accidents, including instances of running red lights and other traffic violations [11] Ferrari Stock Performance - Ferrari's stock plummeted by 15%, marking its worst trading day since going public [17][18] - The company updated its revenue guidance for the year to exceed €7.1 billion, slightly above the previous target of at least €7 billion, while also projecting a moderate growth rate towards 2030 [23] - The adjusted EBITDA forecast for 2030 indicates a compound annual growth rate of 6%, significantly lower than the previously suggested 10% [23]

Group 1: Policy and Market Trends - The Ministry of Industry and Information Technology, along with the Ministry of Finance and the State Taxation Administration, announced adjustments to the technical requirements for new energy vehicles (NEVs) eligible for vehicle purchase tax exemptions for 2026-2027 [1] - During the recent National Day holiday, the charging volume for NEVs on highways reached a record high of 1.23 billion kilowatt-hours, with an average daily charging volume of 15.36 million kilowatt-hours, which is 2.59 times higher than regular days [1] Group 2: Company Performance - Chery Group reported a 77.1% year-on-year increase in NEV sales for the first three quarters, with a total of 587,545 units sold [2] - Buick's new model, the Zhijing L7, achieved 12,000 pre-orders within 10 days of its launch, with deliveries expected to start on October 20 [3] Group 3: Collaborations and Investments - Dongfeng and Huawei are seeking public input for a new brand name and logo for their DH project, which focuses on mid-to-high-end intelligent vehicles [4] - Seres announced a cooperation framework agreement with Beijing Volcano Engine Technology for intelligent robotics projects [7] - Avita Technology has completed the payment of 11.5 billion yuan for a 10% stake in Huawei's subsidiary, Yiwang [6] Group 4: Market Expansion and Product Launches - BYD officially entered the Argentine passenger car market by launching three electric and hybrid models, including the Dolphin MINI and Yuan Pro [9] - Ferrari raised its revenue guidance for 2025 and expects to maintain total revenue around 9 billion euros by 2030, with an EBITDA of at least 3.6 billion euros [10] Group 5: Safety and Regulatory Issues - BMW announced a recall of 12,491 vehicles in South Africa due to a starter motor defect that poses a fire risk [9] - The U.S. National Highway Traffic Safety Administration (NHTSA) has initiated an investigation into Tesla's Full Self-Driving (FSD) feature, potentially affecting nearly 2.9 million vehicles [9]

Market Overview - US stock market closed lower, with the Dow Jones down 243.36 points (0.52%) at 46,358.42, the Nasdaq down 18.75 points (0.08%) at 23,024.63, and the S&P 500 down 18.61 points (0.28%) at 6,735.11 [4] - The Nasdaq and S&P 500 indices reached intraday historical highs before retreating [2] Federal Reserve Insights - Federal Reserve's Williams supports further interest rate cuts within the year to address potential labor market slowdowns [6] - Fed Governor Barr emphasizes caution regarding further rate cuts, focusing on inflation risks while acknowledging vulnerabilities in the labor market [7] Tesla Investigation - Approximately 2.9 million Tesla vehicles with Full Self-Driving (FSD) may have safety issues, leading to a federal investigation [10] - Reports indicate that FSD has been linked to multiple accidents, including running red lights and other traffic violations [10] Ferrari Stock Performance - Ferrari's stock plummeted 15%, marking its worst trading day since going public [16][17] - The company updated its revenue guidance for the year to exceed €7.1 billion, slightly above the previous target of "not less than €7 billion" [20] - For 2030, Ferrari anticipates revenue of €9 billion and adjusted EBITDA of at least €3.6 billion, indicating a compound annual growth rate of 6%, which is lower than the previously suggested 10% [21][22]

Core Viewpoint - Ferrari's shares experienced a significant decline in both European and U.S. markets following the release of disappointing earnings guidance, marking the company's worst trading day since its IPOs in respective markets [1][2]. Financial Performance - Ferrari's stock fell nearly 15% to just over $407 in the U.S. market, and over 14% in Milan, dropping about €60 to around €357.60, representing the largest single-day loss since its listing in January 2016 [1][2]. - The company projected revenue of €7.1 billion for the current year, an increase from previous forecasts of just over €7 billion, and expects revenue to reach around €9 billion by 2030, with adjusted earnings of at least €3.6 billion, up from just below €2.7 billion [2]. Analyst Insights - RBC Capital analyst Tom Narayan noted that Ferrari's earnings estimates for 2030 were conservative and fell below previous growth projections, indicating a potential downshift in earnings expectations [3]. - CFRA downgraded Ferrari's stock to a "sell" and reduced its price target from $475 to $350, citing concerns over slowing growth [4]. Management Commentary - Ferrari CEO Benedetto Vigna acknowledged that expectations for higher revenue were not met, emphasizing the importance of executing achievable goals [5]. Market Sentiment - Despite the negative outlook from some analysts, others, such as JPMorgan and Deutsche Bank, expressed confidence in Ferrari's long-term growth prospects, with Deutsche Bank upgrading the stock to a "buy" and raising its price target to €520 [5]. Strategic Shift - Ferrari announced a reduction in its electric vehicle production plans, now targeting a model lineup of 40% internal combustion engines, 40% hybrids, and 20% fully electric cars, down from earlier projections of 40% EV sales [6].

Shares of Ferrari plummeted in European and U.S. trading on Thursday, marking the luxury automaker’s worst day yet in both markets after unveiling updated guidance for earnings that fell well below analyst expectations.https://t.co/H3FIja8VWI ...

Company Overview - Ferrari's shares are under significant pressure following its capital markets day presentation, where it raised long-term financial targets but still fell short of consensus estimates [1][4] - The company has reduced its sales guidance for electric vehicles, leading to a drop in shares to six-month lows [1][4] Financial Performance - Last year, Ferrari sold approximately 13,700 units, indicating a very small sales volume for a luxury brand [4] - The company previously guided for around 7% sales growth for fiscal year 2025, but now projects a longer-term topline sales growth of about 5% [6][7] - The expected delivery date for an all-electric vehicle has been pushed back to late 2026, and the forecast for electric vehicles as a percentage of total production by 2030 has been cut from 40% to 20% [7] Market Reaction - The market is reevaluating Ferrari's valuation due to the widening range of EBITDA growth estimates, which are projected between 30% and 40% [9][10] - The stock is perceived as expensive, and any conservative outlook from the company is being negatively received by investors [11][16] Industry Context - Other luxury brands, such as Aston Martin, are also scaling back their electric vehicle plans, reflecting broader market demand challenges [12] - The transition to an electric vehicle model poses challenges for legacy luxury brands like Ferrari, which must maintain premium pricing while managing capital expenditures and R&D costs [14][15]