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Yahoo
24 minutes ago
- Business
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Eli Lilly and Co: Steve Mandel's Strategic Exit with a -3.94% Portfolio Impact
Exploring Steve Mandel (Trades, Portfolio)'s Recent 13F Filing and Investment Moves Warning! GuruFocus has detected 9 Warning Sign with VST. Steve Mandel (Trades, Portfolio) recently submitted the 13F filing for the second quarter of 2025, providing insights into his investment moves during this period. Steve Mandel (Trades, Portfolio) is the founder of Lone Pine Capital, a long/short equity money manager, which he started in 1997. Prior to founding LPC, Mr. Mandel was senior managing director and consumer analyst at Tiger Management (Trades, Portfolio) Corporation (1990-1997), mass-market retailing analyst at Goldman, Sachs (1984-1990) and senior consultant at Mars and Company (1982-1984). Lone Pine Capital is named after a tree at his alma mater Dartmouth College that survived a lightning strike. Mandel previously worked at Tiger Management (Trades, Portfolio) under Julian Robertson. Lone Pine Capital invests in public equity markets across the globe, and utilizes long-short strategy. The firm uses fundamental analysis and bottom up stock picking to build the portfolio. Mandel uses both value and growth methodologies, and does not hold many stocks for very long. Summary of New Buy Steve Mandel (Trades, Portfolio) added a total of 5 stocks, among them: The most significant addition was UnitedHealth Group Inc (NYSE:UNH), with 1,693,347 shares, accounting for 3.76% of the portfolio and a total value of $528,273,460. The second largest addition to the portfolio was EQT Corp (NYSE:EQT), consisting of 7,518,227 shares, representing approximately 3.12% of the portfolio, with a total value of $438,463,000. The third largest addition was Booking Holdings Inc (NASDAQ:BKNG), with 59,972 shares, accounting for 2.47% of the portfolio and a total value of $347,192,300. Key Position Increases Steve Mandel (Trades, Portfolio) also increased stakes in a total of 5 stocks, among them: The most notable increase was Vistra Corp (NYSE:VST), with an additional 1,864,931 shares, bringing the total to 6,469,719 shares. This adjustment represents a significant 40.5% increase in share count, a 2.57% impact on the current portfolio, with a total value of $1,253,896,240. The second largest increase was Inc (NASDAQ:AMZN), with an additional 680,816 shares, bringing the total to 5,033,556. This adjustment represents a significant 15.64% increase in share count, with a total value of $1,104,311,850. Summary of Sold Out Steve Mandel (Trades, Portfolio) completely exited 5 of the holdings in the second quarter of 2025, as detailed below: Eli Lilly and Co (NYSE:LLY): Steve Mandel (Trades, Portfolio) sold all 551,827 shares, resulting in a -3.94% impact on the portfolio. Toll Brothers Inc (NYSE:TOL): Steve Mandel (Trades, Portfolio) liquidated all 3,800,580 shares, causing a -3.47% impact on the portfolio. Key Position Reduces Steve Mandel (Trades, Portfolio) also reduced positions in 11 stocks. The most significant changes include: Reduced Intuit Inc (NASDAQ:INTU) by 632,136 shares, resulting in a -45.03% decrease in shares and a -3.35% impact on the portfolio. The stock traded at an average price of $675.75 during the quarter and has returned 7.73% over the past 3 months and 13.74% year-to-date. Reduced Carvana Co (NYSE:CVNA) by 548,877 shares, resulting in a -23.72% reduction in shares and a -0.99% impact on the portfolio. The stock traded at an average price of $273.14 during the quarter and has returned 14.22% over the past 3 months and 67.04% year-to-date. Portfolio Overview At the second quarter of 2025, Steve Mandel (Trades, Portfolio)'s portfolio included 24 stocks, with top holdings including 8.92% in Vistra Corp (NYSE:VST), 8.75% in Meta Platforms Inc (NASDAQ:META), 7.86% in Inc (NASDAQ:AMZN), 6.57% in Microsoft Corp (NASDAQ:MSFT), and 5.54% in Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM). The holdings are mainly concentrated in 8 of all the 11 industries: Technology, Consumer Cyclical, Financial Services, Communication Services, Utilities, Healthcare, Consumer Defensive, and Energy. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus. Sign in to access your portfolio
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24 minutes ago
- Automotive
- Yahoo
Tesla continues to lose customers in Canada. Can it ever bounce back?
Tesla Inc. is on a troubling trajectory, something confirmed by its second-quarter earnings. Its revenue declined 12 per cent year over year to US $22.5 billion, operating margins collapsed to 4.1 per cent and vehicle deliveries dropped 14 per cent to 384,122 units. In Canada, the plunge has been even more dramatic, with Tesla vehicle registrations dropping 67 per cent in the first six months of 2025. Quebec had the biggest drop, with only 524 new Tesla vehicles sold between January and March 2025, a decline of nearly 85 per cent from the 5,097 units registered in the final months of 2024. Here's why Tesla is experiencing troubles and whether it can recover. Why has Tesla's reputation declined? Tesla chief executive Elon Musk's affiliation with right-wing politicians has hurt his reputation in left-leaning markets — particularly in Europe — and that has had a negative effect on the brand. David Adams, chief executive of Global Automakers Canada, said Musk's association with United States President Donald Trump's government did the company no favours, though the two have since had a falling out. There are a lot of people who frankly don't want to be associated with the brand, especially in Canada David Adams, chief executive of Global Automakers Canada 'A lot of it is their CEO's association with the Trump administration and his work there and then also his blatant antagonism towards Canada as well,' he said. 'It's certainly damaging the brand and the reality is that there are a lot of people who frankly don't want to be associated with the brand, especially in Canada.' Moreover, the entry of Chinese EV automakers such as BYD Auto Co. Ltd. has loosened Tesla's grip on the European market. This, along with electric vehicle (EV) competition from legacy automakers such as Volkswagen AG, has resulted in a drop in Tesla sales. What are Canada's ZEV mandates? Canada's zero-emission vehicle (ZEV) mandate — a climate policy introduced under former prime minister Justin Trudeau — requires automakers to ensure 20 per cent of their sales are electric vehicles by 2026. If they fall short, they must purchase credits from companies that surpass the target. In Canada, that effectively means buying credits from Tesla, which exclusively sells EVs. Automakers must also increase their sales of EVs to 60 per cent of total sales by 2030 and 100 per cent by 2035, with the goal of reducing emissions from gas-powered vehicles to help meet Canada's climate targets. Adams said the mandate is a redundant policy measure that makes things difficult for legacy automakers. 'The zero-emission vehicle mandate, whether it's the national mandate or the one that was put in place in Quebec originally followed by B.C., from our perspective, they've always been redundant policy measures,' he said. Adams said the mandate's tight requirements are forcing manufacturers to transition towards the electrification of vehicles rather than meet consumer demand. 'The emissions standards are being tightened to such a degree that, really, the only way automakers are going to be able to comply is to start migrating more towards electrification,' he said. Environment Minister Julie Dabrusin said a revamped version of the federal ZEV rebate program is in the works, but no specific details or timeline have been released so far. Tesla accused of misusing rebate program The federal Incentives for Zero-Emission Vehicles (iZEV) rebate program exhausted its $3-billion budget in early January 2025, effectively ending national rebates for all automakers. The loss of that incentive was a major blow to Tesla, which had previously been one of the program's largest beneficiaries. It was later revealed that Tesla had claimed $43 million in rebates through the iZEV program, raising concerns that the company rushed through a spike in transactions to capitalize on the rebate before the deadline. That prompted scrutiny over potential misuse of the program, although it was later revealed the company had done nothing wrong. But in the meantime, several provinces — including British Columbia, Nova Scotia, Prince Edward Island and Manitoba — tightened their own eligibility rules and removed Tesla vehicles from their respective rebate programs, further compounding the company's challenges in Canada. Adams said Tesla being able to sell its ZEV credits in the first place has been an issue for rival manufacturers. 'When you're looking at trying to become compliant by buying credits from your competitors in the marketplace, it's an odd situation where you're essentially helping your competitor in the same market that you're trying to compete in,' he said. Impact of tariffs Tariffs have had a significant retail hit on Tesla sales in Canada, with demand for its vehicles plummeting after tariffs pushed the price of the Model Y up by $20,000 and federal and provincial rebates were pulled. In response, the company slashed prices and shifted its import strategy in an effort to boost sales. Despite the drop in retail demand, Tesla continues to benefit from Canada's ZEV mandate. Because it only sells EVs, the company earns surplus credits, which legacy automakers must buy to meet government targets or face penalties, effectively giving Tesla a backdoor revenue stream. Adams said manufacturers shouldn't have to buy ZEV credits from their competitors. 'A better solution would be to allow companies to buy credits from the government at a set price,' he said. He also said Tesla's decline in sales will result in it being able to sell fewer ZEV credits, further supporting his argument for government-sold credits. 'Tesla sales decline and the emission vehicle mandate are tied together in another way, too; as Tesla sales fall, fewer credits are available for other automakers to purchase to be able to comply with the provisions of the regulation,' he said. The mandate has sparked backlash from major automakers such as General Motors Co., Ford Motor Co. and Stellantis NV, which say it imposes unfair costs on consumers, and they are pressuring the federal government to reconsider or weaken the rules. 'At the end of the day, the government can require manufacturers to sell these vehicles, but that just means the manufacturers are putting the vehicles into the marketplace, so somebody has to buy them for them to meet their targets,' Adams said, pointing out EVs are more expensive than internal combustion vehicles. 'This is a consumer issue, not a manufacturer issue, and the only way this transition is going to work is if consumers come to the table and support the transition.' Can Tesla and the EV market recover? Adams believes Tesla is stuck in a difficult situation as the brand's reputation declines. The logical solution, he said, is to reduce prices, which would help regain some of the consumer base Tesla has lost over the past year. 'Money talks and if there are significant price reductions on the vehicles, then that might persuade some people to come back to the brand,' he said. However, with the threat of more tariffs looming, a further price drop may not be feasible for Tesla in order to remain profitable. Adams said it's a 'no win' situation for Musk and Tesla, and he said it may be hard to get back to the heights of popularity the brand once achieved. Tesla's sales fall most in a decade in another rough quarter 'Elon has finally woken up': Musk battles to save Tesla from Trump 'The challenge when you start (reducing the price) is that all the people who paid the higher price a year or six months ago, you antagonize all those previous owners and then undervalue the resale value of their vehicle as well,' he said. '(Musk) is in a bit of a no-win situation in terms of trying to redeem the brand.' As for the broader EV market, Adams said the federal government needs to scrap or severely revamp the EV mandate to put things back in order. 'In the face of having unattainable targets, our suggestion to the federal government has been to scrap them,' he said. 'These mandates are just a distraction of time and resources at the companies that could be better served being utilized elsewhere.' Sign in to access your portfolio
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24 minutes ago
- Business
- Yahoo
Applied Materials Stock Tanks On Weak Outlook, China Headwinds
Applied Materials Inc. (NASDAQ:AMAT) stock is plunging on Friday after the company reported financial results for the third quarter after market close on Thursday. The chip equipment manufacturer reported third-quarter revenue of $7.3 billion, beating analyst estimates of $7.22 billion, with adjusted earnings of $2.48 per share, beating analyst estimates of $2.36 per share. Outlook 'We are expecting a decline in revenue in the fourth quarter driven by both digestion of capacity in China and non-linear demand from leading-edge customers given market concentration and fab timing,' said Brice Hill, senior vice president and CFO of Applied Materials.'We are navigating and adapting to the near-term uncertainties by leveraging our robust supply chain, global manufacturing footprint, and deep customer relationships.' Applied Materials expects fourth-quarter revenue of $6.7 billion, plus or minus $500 million, versus estimates of $7.33 billion. The company expects fourth-quarter adjusted earnings to be between $1.91 and $2.31 per share, versus estimates of $2.39. Street Opinions Split Analyst sentiment on Applied Materials was mixed following the latest updates. UBS maintained a Neutral rating but trimmed its price target from $185 to $180, while Wells Fargo kept an Overweight stance, cutting its target from $215 to $205. View more earnings on AMAT Cantor Fitzgerald also maintained an Overweight rating, lowering its target from $220 to $200. Morgan Stanley held its Equal-Weight rating but nudged its target higher from $169 to $172. JPMorgan reiterated an Overweight view and lifted its target from $210 to $220. Stifel remained bullish with a Buy rating but reduced its target from $195 to $180, and Wolfe Research kept an Outperform rating while cutting its target from $230 to $200. Mizuho also maintained an Outperform view, trimming its target from $220 to $200. Evercore ISI reiterated an Outperform rating and kept its $209 target unchanged. Meanwhile, Bank of America Securities downgraded the stock from Buy to Neutral and reduced its target from $190 to $180. Price Action: AMAT stock is trading lower by 12.06% to $165.63 at last check Friday. Read Next:Image via Shutterstock Latest Ratings for AMAT Date Firm Action From To Feb 2022 UBS Maintains Neutral Feb 2022 Needham Maintains Buy Feb 2022 Piper Sandler Maintains Neutral View More Analyst Ratings for AMAT View the Latest Analyst Ratings Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLIED MAT (AMAT): Free Stock Analysis Report This article Applied Materials Stock Tanks On Weak Outlook, China Headwinds originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
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24 minutes ago
- Business
- Yahoo
Market to Surpass $4 Billion by 2033 as Governments Worldwide Turn to Ethanol Buses to Curb Carbon Emissions
The global ethanol bus market sees opportunities in the rising adoption of eco-friendly transport due to environmental consciousness and government initiatives. Technological advancements in biofuels, especially in emerging economies like India, further drive growth for ethanol buses, pivoting towards greener alternatives. Ethanol Bus Market Dublin, Aug. 15, 2025 (GLOBE NEWSWIRE) -- The "Ethanol Bus Market Report by Type, and Region 2025-2033" has been added to offering. The global ethanol bus market, valued at USD 1.77 billion in 2024, is poised for substantial growth, with projections indicating it could reach USD 4.02 billion by 2033. This represents a promising compound annual growth rate (CAGR) of 9.04% from 2025 to 2033. Ethanol buses, powered by ethanol from sustainable resources like agricultural feedstock, offer an eco-friendly, cost-effective alternative to traditional fossil fuel-powered buses. As a result, their adoption by public and governmental transportation sectors is on the rise. The demand for green fuels and eco-friendly vehicles is a key factor driving market growth. First-generation biofuels, such as bioethanol, derived from crops, along with second-generation biofuels from biomasses and agricultural waste, contribute significantly to this expansion. Growing environmental awareness, coupled with government initiatives aimed at curbing air pollution, further fuel market momentum. Notably, countries like India are deploying ethanol buses on a large scale to reduce carbon and greenhouse gas emissions while providing an economical method of public transport. Technological advancements in biofuel production, including enhanced biomass and yeast performance, are refining ethanol manufacturing processes, creating a favorable market outlook. Key Questions Answered in This Report: What is the expected growth rate of the global ethanol bus market during 2025-2033? What are the key factors driving the global ethanol bus market? What has been the impact of COVID-19 on the global ethanol bus market? What is the breakup of the global ethanol bus market based on the type? What is the breakup of the global ethanol bus market based on the application? What is the breakup of the global ethanol bus market based on the ethanol source? What are the key regions in the global ethanol bus market? Who are the key players/companies in the global ethanol bus market? Key Attributes: Report Attribute Details No. of Pages 136 Forecast Period 2024 - 2033 Estimated Market Value (USD) in 2024 $1.77 Billion Forecasted Market Value (USD) by 2033 $4.02 Billion Compound Annual Growth Rate 9.5% Regions Covered Global Companies Featured AUDI AG Fiat Chrysler Automobiles N.V. Ford Motor Credit Company LLC General Motors Company Isuzu Motors Limited Jaguar Land Rover Limited Deere & Company Nissan Motor Company Scania CV AB Toyota Motor Corporation Volkswagen AG Key Market Segmentation Breakup by Type: First-Generation Ethanol Bus Second-Generation Ethanol Bus Breakup by Application: School Municipal Traffic Others Breakup by Ethanol Source: Corn Sugarcane Wheat Others Breakup by Region: North America United States Canada Asia Pacific China Japan India South Korea Others Europe Germany France United Kingdom Italy Russia Others Latin America Brazil Mexico Others Middle East and Africa For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Ethanol Bus Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
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24 minutes ago
- Business
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Salesforce Rallies As Investors Bet On Refocus And Margin Expansion
Salesforce (NYSE:CRM) shares climbed Friday as renewed investor optimism signaled a potential turning point for the software giant, which has faced slowing growth, rising competition, and mounting pressure to refocus on its core cloud business. DA Davidson analyst Gil Luria upgraded Salesforce (NYSE:CRM) from Underperform to Neutral with a price forecast of $225 on Friday. Luria upgraded Salesforce to Neutral from Underperform but kept his $225 price forecast, valuing the company at 18.5x his updated fiscal 2027 EPS said Salesforce has trailed the iShares Expanded Tech-Software Sector ETF (BATS:IGV) by 48 points year-to-date and 27 points since its fiscal first-quarter 2026 earnings on May 28, as investor sentiment soured over slowing organic growth in its core business and intensifying competition across its customer base. Luria projected Salesforce's organic revenue growth at 8% in fiscal 2026 and 7% in fiscal 2027 (excluding Informatica (NYSE: INFA)), warning that the company's push into Agentforce is coming at the expense of its core cloud business. He said Salesforce's fiscal second-quarter 2026 guidance, the first quarter in its history where cRPO growth is expected to be under 10% in constant currency, confirms mounting headwinds from market saturation, competitive pressure, and customer budget scrutiny. He noted that while Agentforce adoption has been strong, bottlenecks such as tech debt, siloed data, unpredictable costs when AI is enabled, and unclear enterprise AI strategies limit the efficiency gains investors expect. Luria said activist investor Starboard Value recently boosted its stake by 47%, which he sees as a signal of renewed pressure on Salesforce to refocus on core growth, expand margins, and avoid dilutive acquisitions. Luria projected fiscal second-quarter 2026 revenue of $10.08 billion and EPS of $2.78. Price Actions: CRM shares traded higher by 2.65% to $239.55 at last check Friday. Photo by NYCStock via Shutterstock Latest Ratings for CRM Date Firm Action From To Mar 2022 Wedbush Maintains Outperform Mar 2022 Canaccord Genuity Maintains Buy Mar 2022 Raymond James Maintains Strong Buy View More Analyst Ratings for CRM View the Latest Analyst Ratings UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? SALESFORCE (CRM): Free Stock Analysis Report This article Salesforce Rallies As Investors Bet On Refocus And Margin Expansion originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. 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
