Good morning. Good morning. It's Friday the sixth.This is what we're talking about this morning. Tech has been hit hard again. Amazon's big spending plans are just adding to the angst.Silver, it was had a really wild night overnight. We'll get to that in a minute. And Bitcoin bouncing off 60,000.It's down, though, 50% since October. Michael Saylor strategy hits the rocks with a 2.4% billion Q4 loss. Let's put some of that together to show.We show you where we are in terms of equity market futures right now ...

Stellantis Overview - Stellantis (STLA) will incur charges of approximately €22.2 billion ($26.18 billion) for the second half of 2025 due to a reset in its business strategy amid weak demand for electric vehicles [3] - The company's shares fell about 14% in early trading following the announcement of these charges [3] - CEO Antonio Filosa stated that the charges reflect an overestimation of the energy transition pace and previous operational execution issues [3] Financial Implications - The charges will include cash payments of around €6.5 billion ($7.66 billion) to be paid over the next four years, related to cancelled products and adjustments in battery manufacturing capacity [3] - Stellantis announced it will not pay an annual dividend in 2026 as part of its financial restructuring [4]

Core Viewpoint - Stellantis shares are experiencing significant declines following the announcement of a €22 billion ($25 million) charge due to overestimating the speed of consumer transition to electric vehicles [1] Group 1: Financial Impact - Shares of Stellantis fell approximately 22% in Milan trading, following a previous drop of 5.7% on Thursday [1] - U.S.-listed shares are expected to see a similar decline, indicating a substantial market reaction [1] - If these losses persist, it will represent the largest one-day percentage drop for Stellantis shares, according to FactSet data [1]

Group 1 - Major stock indices showed slight gains, with Dow futures up 0.08%, S&P 500 futures up 0.16%, and Nasdaq futures up 0.08%. Cryptocurrency stocks also rebounded, with Coinbase rising nearly 4% and Bitmine Immersion Technologies increasing by nearly 3% [1] - Power stocks experienced a pre-market rally, with Vistra Energy up 3.75% and Constellation Energy up 2.28%. Analysts from Bank of America indicated that recent sell-offs in this sector were due to policy misunderstandings rather than weak fundamentals, highlighting strong growth potential for specific power producers [1] - Chip stocks saw a pre-market increase, with Nvidia up 1.51% and AMD up 0.85% [2] - Amazon reported Q4 net sales of $213.39 billion, a 14% year-over-year increase, and AWS net sales of $35.58 billion, a 24% increase, marking the highest growth rate since the end of 2022. However, Amazon's projected capital expenditures for 2026 are expected to be around $200 billion, a 50% increase from 2025, which is significantly higher than Wall Street's expectations [5] Group 2 - Stellantis announced a write-down of €22 billion to adjust its electric vehicle strategy due to weak demand, leading to a stock price drop of over 20%. The company anticipates a net loss of €19 to €21 billion in the second half of 2025 and has suspended dividend payments [2] - Toyota raised its full-year outlook, projecting annual net sales of ¥50 trillion, up from a previous estimate of ¥49 trillion, and net profit expectations increased to ¥3.57 trillion from ¥2.93 trillion. The company also announced a leadership change, with CFO Koji Sato set to take over as CEO [3] - In Michigan, the Attorney General called for a re-evaluation of the power supply plan for Oracle's data center, citing concerns over the reliability of Oracle, OpenAI, and DTE Energy as partners, which could impact consumer electricity costs [4]

Group 1: Market Trends - Major stock index futures showed slight increases, with Dow futures up 0.08%, S&P 500 futures up 0.16%, and Nasdaq futures up 0.08% [1] - Cryptocurrency stocks rebounded, with Coinbase rising nearly 4% and Bitmine Immersion Technologies increasing by nearly 3% [1] - Power sector stocks saw a pre-market rally, with Vistra Energy up 3.75% and Constellation Energy up 2.28% [1] Group 2: Company Performance - Chip stocks also experienced gains, with Nvidia up 1.51% and AMD up 0.85% [2] - Strategy reported a net loss of $12.4 billion for Q4 2025, driven by a decline in Bitcoin holdings [2] - Stellantis announced a write-down of €22 billion to adjust its electric vehicle strategy, leading to a stock drop of over 20% [2] - Toyota raised its full-year outlook, projecting sales revenue of ¥50 trillion and net profit of ¥3.57 trillion, with a quarterly sales revenue of ¥13.46 trillion [3] - Amazon reported Q4 net sales of $213.39 billion, a 14% year-over-year increase, but projected capital expenditures of $200 billion for 2026, leading to an 8.33% drop in stock price [5] Group 3: Regulatory and Strategic Developments - Michigan's Attorney General called for a re-evaluation of DTE Energy's power supply plan for Oracle and OpenAI's data center, citing concerns over consumer protection [4]

格隆汇2月6日｜欧洲汽车股全线走低，此前Stellantis表示将进行220亿欧元的减记，此举是其重整战略 以摆脱汽车股的一部分。在米兰上市的Stellantis股价暴跌23%，这将是该股自2021年公司成立以来的最 差单日表现。瑞典的沃尔沃汽车和法国的雷诺均下跌约4%，德国的大众汽车下跌2.1%。高端和豪华汽 车制造商也受到冲击，保时捷股价下跌超过3%，法拉利、宝马和梅赛德斯-奔驰均下跌。在美国盘前交 易中，福特汽车和通用汽车股价几无变动；这两家公司去年都披露了各自电动汽车业务存在数以十亿美 元计的费用。 ...

Stellantis美股盘前跌超20%，现报7.63美元。 ...

Core Viewpoint - Stellantis shares listed in Milan experienced a trading halt after a significant drop of 14.4% due to the announcement of approximately 22.2 billion euros ($26.5 billion) in charges for the second half of 2025, linked to a reduction in electric vehicle development plans [1] Company Summary - Stellantis reported charges of around 22.2 billion euros ($26.5 billion) for the second half of 2025 [1] - The company is scaling down its plans for electric vehicle development, which has contributed to the financial charges [1] - The trading halt of Stellantis shares was triggered by the 14.4% decline in share price on Friday [1]

Group 1 - The charges indicate a strategic shift away from electric vehicles due to weaker-than-expected demand [1]

Core Viewpoint - LG Energy Solution will acquire full ownership of NextStar Energy from Stellantis, which is a strategic decision aimed at strengthening the battery manufacturing ecosystem in Canada and enhancing growth opportunities in North America [2][3][8]. Group 1: Acquisition Details - LG Energy Solution will purchase Stellantis's 49% equity stake in NextStar Energy, which was established as a joint venture in 2022 to create Canada's first large-scale battery manufacturing facility [2][8]. - The ownership transition is a mutually agreed decision between LG Energy Solution and Stellantis, ensuring a seamless transition and long-term growth for NextStar Energy [3][8]. Group 2: Strategic Implications - NextStar Energy will leverage LG Energy Solution's technological expertise and operational capabilities to better serve a wider customer base, including the Energy Storage System (ESS) industry [4][10]. - Stellantis will continue to be a key customer, sourcing battery products from NextStar Energy, thereby reinforcing the partnership [4][9]. Group 3: Investment and Employment - Over $5 billion CAD has been invested in NextStar Energy's facility, which currently employs over 1,300 people, with a target of 2,500 employees as production scales up [5][8]. - The facility is crucial for Canada's advanced manufacturing and clean-energy sector, enhancing North America's battery supply chain and supporting long-term industrial competitiveness [5][6]. Group 4: Market Position and Future Growth - LG Energy Solution aims to increase its global ESS production capacity to over 60 GWh this year, with more than 50 GWh of this capacity located in North America [11]. - The acquisition positions LG Energy Solution to respond swiftly to the growing demand in the ESS market and strengthens its role in Canada's electric vehicle industry [7][11].