Russian Oil Flows Are Becoming Increasingly Obscured
Russia's oil exports are becoming increasingly difficult to track as the tankers moving the barrels disappear from digital tracking systems.
Moscow's exports slipped slightly in the past four weeks, according to monitoring of those flows by Bloomberg. But keeping track is becoming harder because more and more ships are giving false locations — or no locations at all — to the industry's Automated Information System, or AIS for short.
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Yahoo
28 minutes ago
- Yahoo
Why Tesla (TSLA) Shares Are Trading Lower Today
Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) fell 4.9% in the afternoon session as momentum slowed after a 40% rally that followed the Q1 2025 selloff, suggesting that the recent surge may have exhausted short-term buying interest. It is also possible some investors were taking profits amid uncertainty as they wait for more concrete updates on Tesla's highly anticipated product updates scheduled for later this year. These updates are critical for improving Tesla's growth story, as reported sales in Europe and China were weak in the first quarter of the year. Contributing to the pullback, a widely circulated Bloomberg report resurfaced concerns about the safety of Tesla's driver-assistance technology, highlighting a fatal 2023 crash. The timing of the story is especially sensitive, as Tesla prepares to unveil its AI-powered robo-taxi service in Austin later in the month, a launch that risked being overshadowed by renewed scrutiny and could shake investor confidence in the company's autonomous driving ambitions. Adding to the wall of worry is Elon Musk increasingly looking like an enemy to President Trump rather than a confidant. President Trump has shown the willingness to punish companies that do not fall in line with his agenda and vision. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Tesla? Access our full analysis report here, it's free. Tesla's shares are extremely volatile and have had 131 moves greater than 2.5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 9 days ago when the stock gained 5.2% after the major indices (Nasdaq +2.0%, S&P 500 +1.5%) rebounded as President Trump postponed the planned 50 % tariff on European Union imports, shifting the start date to July 9, 2025. Companies with substantial business ties to Europe likely had some relief as the delay reduced near-term cost pressures and preserved cross-border demand. The update should be beneficial for Tesla, as data from the European Automobile Manufacturers' Association revealed the company sold 7,261 cars in Europe in April, down 49% year on year. So, the delay could help the company avoid being caught in the crossfire of retaliatory tariffs and potential complications from escalating trade tensions between the US and the EU. Contributing to the stock's momentum, CEO Elon Musk noted in a social media post on X (formerly Twitter) that he would be allocating more of his time to the company. He added, "I must be super focused on /xAI and Tesla (plus Starship launch next week), as we have critical technologies rolling out." Tesla is down 19.8% since the beginning of the year, and at $304.24 per share, it is trading 36.6% below its 52-week high of $479.86 from December 2024. Investors who bought $1,000 worth of Tesla's shares 5 years ago would now be looking at an investment worth $5,152. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29 minutes ago
- Yahoo
Tesla Tumbles After Musk Escalates Attacks on Trump Tax Bill
(Bloomberg) -- Tesla Inc.'s shares sank as Elon Musk and President Donald Trump's simmering feud devolved into a public war of words between two of the world's most powerful people. ICE Moves to DNA-Test Families Targeted for Deportation with New Contract Next Stop: Rancho Cucamonga! US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn The Global Struggle to Build Safer Cars Where Public Transit Systems Are Bouncing Back Around the World Trump on Thursday said he was 'very disappointed' by the Tesla chief executive officer's criticism of the president's signature tax policy bill. Musk fired back on social media, saying it was 'false' that the Tesla CEO knew the plan would unwind EV tax credits that benefit Tesla's business. Musk followed up with several more sharply worded posts, including saying Trump showed 'such ingratitude' for the help the billionaire entrepreneur has provided to Trump's administration. Tesla's shares fell as much 9.2% to an intraday low as the two traded barbs. The spat highlights how policies advanced by Trump and Republican lawmakers put billions of dollars at risk for Tesla. Trump's massive tax bill would largely eliminate a credit worth as much as $7,500 for buyers of some Tesla models and other electric vehicles by the end of this year, seven years ahead of schedule. That would translate to a roughly $1.2 billion hit to Tesla's full-year profit, according to JPMorgan analysts. After leaving his formal advisory role in the White House last week, Musk has been on a mission to block the president's signature tax bill that he described as a 'disgusting abomination.' The world's richest person has been lobbying Republican lawmakers — including making a direct appeal to House Speaker Mike Johnson — to preserve the valuable EV tax credits in the legislation. Separate legislation passed by the Senate attacking California's EV sales mandates poses another $2 billion headwind for Tesla's sales of regulatory credits, according to JPMorgan. Taken together, those measures threaten roughly half of the more than $6 billion in earnings before interest and taxes that Wall Street expects Tesla to post this year, analysts led by Ryan Brinkman said in a May 30 report. Tesla didn't immediately respond to a request for comment. The House-passed tax bill would aggressively phase-out tax credits for the production of clean electricity, and other sources years earlier than scheduled. It also includes stringent restrictions on the use of Chinese components and materials that analysts said would render the credits useless and limits the ability of company's to sell the tax credits to third parties. Tesla's division focused on solar systems and batteries separately criticized the Republican bill for gutting clean energy tax credits, saying that 'abruptly ending' the incentives would threaten US energy independence and the reliability of the power grid. The clean energy and EV policies under threat were largely enacted as part of former President Joe Biden's Inflation Reduction Act. The law was designed to encourage companies to build a domestic supply chain for clean energy and electric vehicles, giving companies more money if they produce more batteries and EVs in the US. Tesla has a broad domestic footprint, including car factories in Texas and California, a lithium refinery and battery plants. With those Biden-era policies in place, US EV sales rose 7.3% to a record 1.3 million vehicles last year, according to Cox Automotive data. --With assistance from Kara Carlson, Keith Laing, Josh Wingrove and Kate Sullivan. (Updates shares, adds Trump, Musk comments starting in the fourth paragraph.) Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Is Elon Musk's Political Capital Spent? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P.
Yahoo
an hour ago
- Yahoo
Tesla CEO Elon Musk may now believe EV tax credit loss would be bad for business
The federal EV tax credit is, to put it lightly, in limbo given the current wording of the GOP's "big, beautiful bill." Though a lot of back-and-forth remains, with the Senate haggling with the House — and senators from red states with EV factories loath to damage the industry — it is more likely than not that GOP holdouts will fall in line and gut former President Biden's $7,500 tax credit for EV purchases and leases. The big question is how important the tax credit is to Tesla and CEO Elon Musk? Could it be that his recent outbursts against the Trump-backed budget bill are frustration over the loss of the tax credit? A new report from Bloomberg suggests that Musk's new tack to destroy the bill comes after his lobbying to save the tax credits was unsuccessful. Musk responded that the budget bill negates all the cost savings supposedly achieved by the DOGE "at great personal cost and risk," alluding to the hit to Tesla's business. But if you listened to Musk in the past, you would think the EV tax credit is not a big deal for Tesla EV sales vis-à-vis its competitors. "I think it would be devastating for our competitors and for Tesla slightly," Musk said when asked about the future of the tax credits during Tesla's Q2 earnings call last year. "But long term probably actually helps Tesla, would be my guess." Tesla likely would not exist if not for that tax credit, which the company availed itself to for years during the Obama administration. The EV tax credit was extended and enhanced under President Biden's Inflation Reduction Act, signed in 2022. Tesla can profitably produce its EVs, so at the time, Musk seemed fine with Congress potentially pulling the EV tax credit benefit. But Musk has been changing his tune. In addition to his tirade trashing the GOP bill as a "disgusting abomination" and the Bloomberg report on Musk's lobbying to save the credit, he complained in a recent post about the bill's favorable tax treatment for carbon-based energy, but not clean electric. "There is no change to tax incentives for oil & gas, just EV/solar," Musk wrote about the budget bill. Musk has said in the past that Tesla was not demand-constrained but supply-constrained — meaning Tesla sales were mostly hindered by the vehicles' high cost — and the need for cheaper pricing. Hence, the other big factor when it comes to affordability: vehicle leases and the EV tax credit. While income restrictions can limit the $7,500 tax credit for purchases, leased vehicles can avail themselves of the full credit without income-level limits. Credit firm Experian reports that 50% of all EVs are leased in the US, but Tesla's lease percentage could be higher. In the fourth quarter of last year, the Model 3 (12.2% of all leased EVs) and Model Y (9.1%) were the top leased EVs in the country. Those are significant numbers, and a $7,500 reduction in "capital cost" (the lease amount financed) can considerably reduce lease payments. On the flipside, adding that amount back has the opposite effect. "Electric vehicle shoppers are price conscious. We've seen some impact on price fluctuations over the last couple of years," Brent Gruber, executive director of J.D. Power's EV practice, said to Yahoo Finance. "So if those tax credits go away, you're going to see probably a slowdown in the level of interest for electric vehicles." Read more: How to avoid the sticker shock on Tesla car insurance For Tesla in particular, J.D. Power and Gruber predict that losing the tax credit will be keenly felt. "I can tell you from a data perspective and what we see at J.D. Power, I think that Tesla is very susceptible to the elimination of the tax credits, just as other manufacturers are as well," Gruber said. "One of the things that we do with our study is we track the influence of those tax credits on purchase decisions, and when you look at the brands that are most affected by those purchase prices and that tax credit, Tesla is right up there at the top." This could be why Musk is perhaps changing his tune on the importance of the tax credit, and it may explain some of his complaints regarding the GOP tax bill. BofA's John Murphy believes the loss of the tax credit may be mixed for Tesla, but the big issue is the lack of a cheaper EV, a vehicle Tesla says is coming but hasn't been seen. Tesla will need those cheaper EVs if it loses EV tax credits to reach price-conscious buyers. "I think [Musk's] going to be challenged to grow volume unless he gets this low-cost EV launched," Murphy said during BofA's annual "Car Wars" presentation on Wednesday. Murphy added that Tesla not launching a cheap EV this year would be a "huge disappointment." Perhaps losing the tax credit may force Musk's hand — and release the cheap EV he apparently didn't want. After all, it wouldn't be the first time Musk changed his tune on something. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram. Sign in to access your portfolio
