Microsoft gets a price target increase from Wells Fargo ahead of earnings
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Yahoo
16 minutes ago
- Yahoo
Tesla Q2 earnings preview: 3 things to watch
Tesla (TSLA) stock has pared some of its early 2025 losses, but a now rocky relationship between CEO Elon Musk and President Trump is taking its toll on the optimism that fueled the company's late-2024 run. Tesla's second quarter earnings report, slated for release on Wednesday after the bell, comes at a time when the S&P 500 (^GSPC) and Nasdaq (^IXIC) are surging to new highs, bucking Trump's tariff war that led to broad-based selling and fears of a global economic slowdown. While other auto stocks have recovered, Tesla is still down around 20% year to date, with sector tariffs of 25% on foreign cars and parts still in place. Now the focus is on the struggling core auto business and the future of Tesla's robotaxi rollout. Here are three things to watch this Wednesday. The core Tesla's bread and butter, despite Musk's embrace of a robot-driven future, is its core auto business. That drives the huge majority of revenue and profit at Tesla. The company is expected to report second quarter revenue of $22.79 billion, per Bloomberg estimates, a 9% drop compared with the $25.05 billion reported a year ago. From a profitability standpoint, Wall Street analysts are expecting adjusted EPS of $0.43, translating to adjusted net income of $1.513 billion, down slightly from a year ago. Musk's reputational hit stemming from his political activities, the rise of better competition, and US consumer preferences for vehicles like hybrids have Tesla and the EV industry as a whole worried. For Tesla in particular, weakness in key regions like Europe has been an ongoing issue, and the latest registration data shows US sales sliding as well. This resulted in Tesla delivering only 384,122 vehicles globally in Q2, a 13.5% drop year over year. The changeover to the refreshed Model Y may have blunted sales. But the question for management is the availability picture for that new Model Y in Tesla's main selling regions. Read more: How to avoid the sticker shock on Tesla car insurance Robotaxi rollout On the bright side for Tesla is Elon Musk's big bet on the future with robotaxis. Tesla and Musk will most likely focus on that business, and this may perhaps point to future rollout plans with more cars and regions. Tesla has expanded its robotaxi testing in Austin, Texas, with a bigger operating area and likely more vehicles coming. Musk said the company would expand testing to the San Francisco Bay Area, but reports suggest the applications for those state permits have not been submitted. While the good news is that the test began on time as Musk proposed in mid-May, Tesla still has a long way to go. Alphabet's (GOOG, GOOGL) Waymo, the leader in the space, has been expanding its robotaxi deployments in the US, and Uber (UBER) is doing so as well with its technology partners. Speaking of Uber, the ride-hailing giant inked a massive deal with Lucid and autonomous software firm Nuro to launch its own robotaxi service next year. "The earnings call also presents an opportunity for Tesla's robotaxi/AV narrative to shine, which has been front and center of Tesla stock's strength," Barclays analyst Dan Levy wrote in a note to investors. "We could see Elon Musk potentially discussing fleet growth targets or expansion plans." Where's the cheap EV? A year ago, Tesla said in its Q2 earnings report that production remains on track for new vehicles, likely including a cheaper EV, in the first half of next year. Investors and analysts are still waiting. There has been no indication or even renderings of a new vehicle, let alone production of a vehicle priced around $30,000. Tesla's cheapest EV is the rear-wheel-drive Model 3 sedan, which starts at around $43,000 without incentives. Investors are keen to hear more about the development of the long-awaited cheaper EV that Tesla has promised, along with other new vehicles that the company said would allow it to return to a 50% growth rate compared to 2023. The most likely scenario is not a good one for Tesla bulls — a delay in revealing the cheaper EV. "Tesla's forthcoming low-cost model seemingly missed its target for 1H25 start-of-production," Levy said. "With Tesla likely to focus on a 3Q pre-buy in advance of the Sep 30 expiration of the US EV tax credit, we believe it may delay the launch of the low-cost model to 4Q, which could be perceived negatively." Last but not least, Levy had a kicker. With weaker fundamentals in play and more capital needed to fund Tesla's AV/AI rollout, Levy believes an eventual share sale — emphasis on eventual — could be in the cards. But any talk of a dilutive share offering is not exactly what Tesla investors want to hear. Pras Subramanian is the lead auto reporter for Yahoo Finance. You can follow him on X and on Instagram. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
18 minutes ago
Microsoft SharePoint under 'active exploitation,' Homeland Security's CISA says
The Department of Homeland Security's Cybersecurity and Infrastructure Security Agency (CISA) has posted an alert saying it is aware of "active exploitation" of a new vulnerability to Microsoft SharePoint "enabling unauthorized access to on-premise SharePoint servers." The exploitation activity "provides unauthenticated access to systems and enables malicious actors to fully access SharePoint content, including file systems and internal configurations, and execute code over the network," the post stated. "The FBI is aware of the matter, and we are working closely with our federal government and private sector partners," the bureau said in a statement. According to a Microsoft customer guidance blog post issued Saturday, "Microsoft is aware of active attacks targeting on-premises SharePoint Server customers by exploiting vulnerabilities partially addressed by the July Security Update." "These vulnerabilities apply to on-premises SharePoint Servers only," the post added and "SharePoint Online in Microsoft 365 is not impacted." A company spokesperson said the company has been "coordinating closely with CISA, DOD Cyber Defense Command, and key cybersecurity partners around the world throughout our response." "While the scope and impact continue to be assessed," CISA Acting Executive Assistant Director for Cybersecurity Chris Butera said in a statement, "the new common vulnerabilities and exposure (CVE), CVE-2025-53770, is a variant of the existing vulnerability CVE-2025-49706 and poses a risk to organizations with on-premise SharePoint servers." CISA was "made aware of the exploitation by a trusted partner and we reached out to Microsoft immediately to take action," the statement said. "Microsoft is responding quickly, and we are working with the company to help notify potentially impacted entities about recommended mitigations." Eye Security, a cybersecurity firm, says it "identified active large-scale exploitation" of the new vulnerability "being used in the wild" on SharePoint servers across the world and discovered "dozens of systems actively compromised," according to a blog post on the firm's website. The breaches "probably" began on the evening of July 18. According to a post by Palo Alto Networks Unit 42, a threat research and security consulting firm, "These flaws allow unauthenticated attackers to access restricted functionality."
Newsweek
18 minutes ago
- Newsweek
US Government Worker Prevented From Leaving China: What We Know
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A U.S. citizen has been prevented from leaving China for failing to disclose on his visa application that he worked for the U.S. government, The Washington Post reported. The Chinese American man, who works for the U.S. Commerce Department's Patent and Trademark Office, had been visiting family in China but was given an exit ban. U.S. authorities have not identified the man. Guo Jiakun, a Chinese Foreign Ministry spokesperson, told a regular press briefing on Monday that he had no information to share on the matter, adding: "China is a country upholding the rule of law and we handle relevant cases in strict accordance with the law." The Commerce Department did not immediately respond to Newsweek's request for comment outside business hours. Why It Matters This is the latest case of a U.S. citizen blocked from leaving China for alleged legal reasons, which in the past have included involvement in business disputes. The practice has alarmed investors and drawn criticism from the U.S. and other governments. The exact number of foreigners under exit bans in China is not known as some people remain unaware of a ban until they try to leave, with other cases going unreported. The U.S. State Department urges U.S. citizens to "exercise increased caution" when traveling to China due to "arbitrary enforcement of local laws, including in relation to exit bans." What to Know The U.S. federal employee, who had served in the U.S. Army, has been prevented from leaving China "for months," Hong Kong's South China Morning Post reported. He was initially held in the southwestern city Chengdu, capital of Sichuan province, in April and later traveled to Beijing, accompanied by a U.S. official, although his current whereabouts were not known, the newspaper said. The State Department said on Sunday it had "nothing to share" on the case, while adding that its "highest priority is the safety and security of U.S. citizens," the newspaper said. Under Chinese law, foreigners can be barred from leaving China if they are involved in unsettled civil cases or under criminal investigation or trial. The Hong Kong newspaper said most reported bans are not imposed on people accused of crimes, but on those involved in civil litigation. China does not recognize dual citizenship. This marks the first publicly known case of a U.S. government-affiliated person being targeted. Separately last week, The Wall Street Journal reported that a Wells Fargo executive of Chinese descent had been banned from leaving China, and that the U.S. bank had suspended travel to China as a result. Guo, the Chinese government spokesperson, said on Monday that Chenyue Mao, the Wells Fargo banker, was involved in a criminal case and had to cooperate with an investigation. Chinese and US flags flutter in the wind at the Boeing Shanghai Aviation Services facilities near the Shanghai Pudong International Airport in Shanghai on April 17, 2025. Chinese and US flags flutter in the wind at the Boeing Shanghai Aviation Services facilities near the Shanghai Pudong International Airport in Shanghai on April 17, 2025. HECTOR RETAMAL/AFP via Getty Images What People are Saying A person familiar with the matter told The Washington Post: "No administration wants an American rolled up in China at the end of the day. […] The message was delivered at an extremely high level for the Chinese to let him go." John Moolenaar (R-Michigan), chairman of the House Select Committee on the Chinese Communist Party: "I am gravely concerned by what appears to be another case of CCP hostage diplomacy. This is a tactic, not a coincidence—and it's unacceptable. The freedom of all Americans must remain a top priority and this is not the only American being unjustly detained by China." What Happens Next The case of the Commerce Department employee comes as the world's two biggest economies have been at odds over tariffs. President Donald Trump has given Beijing a deadline of August 12 to reach a trade deal. China now faces a U.S. tariff rate of 55 percent, in addition to a 10 percent U.S. tariff on all imports. China has denounced what it calls U.S. bullying on tariffs and has threatened to respond with its own taxes on U.S. imports. Despite the war of words over tariffs, Trump has spoken warmly of the Chinese leader Xi Jinping and the two are likely to meet this year, U.S. Secretary of State Marco Rubio said last week. In Beijing, the spokesperson Guo said he had "no information to provide currently" on the possible meeting of the heads of state. However, exit bans can remain in force for months or even longer while Chinese investigations drag on. The ban on the U.S. citizen could become a factor as the two countries look to a meeting between Trump and Xi.
