Microsoft, Alphabet earnings, Bitcoin, PMI data - what's moving markets

General Motors (GM) California DMV puts the brakes on GM's Cruise driverless cars over safety risk

California issued an order to General Motors' (NYSE: GM) Cruise division Tuesday, demanding the removal of its autonomous vehicles from state roads.

The state referred to the vehicles as a potential threat to public safety and accused the company of misrepresenting information about the technology's safety.

The Department of Motor Vehicles (DMV) in California declared the suspension of Cruise's permit for autonomous vehicle deployment and driverless testing, effectively halting the company's testing of the vehicles without safety... More

GM and Honda (HMC) cancel plans to co-develop affordable EVs

Honda Motor (NYSE: HMC) and General Motors (NYSE: GM) announced Wednesday the cancellation of their collaborative efforts to produce budget-friendly electric vehicles (EVs), as confirmed by the Japanese company. This development comes a year after their initial agreement to join forces in an attempt to surpass Tesla (NASDAQ: TSLA) in... More

Coca-Cola (KO) Mentioned Positively at Deutsche Bank, 'operating from a position of strength'

Deutsche Bank analyst Steve Powers reiterated a Hold rating and $60.00 price target on Coca-Cola (NYSE: KO).

The analyst comments "Generally consistent with our expectation this morning, KO shares were up +3% late in trading today (vs. S&P500 +1%), with investors generally pleased with (i) KO's broad-based... More

GM 'moderating the acceleration of EV production', some EVs will be delayed says CEO Barra

Shares of General Motors (NYSE: GM) moved up nearly 1.30% before sinking 1.44% into the red in pre-market trading after the Detroit automaker reported its 3Q earnings results Tuesday morning, while in the midst of ongoing labor strikes by the United Auto Workers union.

The automaker reported a top line beat with adjusted earnings coming in at $2.28 versus the streets $1.88 estimate, while revenue came in at $44.1B, ahead of the consensus estimate of $42.62B.

"In the U.S., our strong sales, healthy ATPs (average... More

Citi on Spotify (SPOT) Post Earnings: 'we would not be surprised to see shares trade higher'

Citi analyst Jason Bazinet reiterated a Buy rating and $175.00 price target on Spotify (NYSE: SPOT).

The analyst comments "Spotify reported revenue, Premium subs and MAUs modestly ahead of the Street. 3Q23 gross margins and operating income also beat consensus estimates. Along with... More