Yahoo Finance Trending tickers: Tesla, Apple, Shell and Deliveroo
The latest investor updates on stocks that are trending on Thursday
Tesla (TSLA)
Tesla shares were lower in aftermarket trading after Wells Fargo downgraded the car maker from Equal Weight to Underweight, setting a price target of $125 (£97.57), down from $200.
Wells Fargo raised concerns that Tesla's price cuts in China are having a diminishing impact on demand for its electric vehicles.
Amid slowing demand and increased competition, Tesla decreased prices on certain Model 3 and Y cars in China in January. During the same month, Tesla CEO Elon Musk cautioned that growth would be "notably lower" this year.
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However, the average Wall Street rating for Tesla is "hold," as many analysts believe that the demand decline could stabilise later in the year.
"We can concur the price wars in China are brutal however there is a sense from industry checks that many of these price cuts are starting to subside into spring/summer 2024," Wedbush analyst Dan Ives told Reuters.
Apple (AAPL)
It might be one of the Magnificent Seven but Apple has had a rough start to 2024 with shares down by around 7% amid weaker iPhone sales and App Store lawsuits all while being behind the curve on AI.
However, it might not be all doom and gloom for the second-most-valuable publicly traded firm.
“We think [Apple’s] AI strategy will focus on incorporating on-device inference for [large language models] that will substantially uplift the user experience for not only the iPhone but also Mac/iPad,” Evercore ISI analyst Amit Daryanani wrote in a recent investor note.
According to Daryanani, Apple’s services growth is “underappreciated,” and he expects “growth in the low teens range for [fiscal 2024].”
Shell (SHEL.L)
The boss of Shell was paid nearly £8m last year as the oil major has watered down one of its climate pledges.
Wael Sawan was handed a total pay packet worth £7.94m during the period, Shell said, a reduction from the £9.7m that his predecessor Ben van Beurden earned in 2022, although higher than van Beurden’s pay package for 2021.
Sawan’s package included a base salary of £1.4m, an annual bonus of £2.7m and a £2.6m long-term incentive payment.
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Shell said that it now plans to reduce the “net carbon intensity” of the energy it sells by 15-20% by 2030 compared to 2016. Its previous target had been to reduce the measure by 20%.
Deliveroo (ROO.L)
Deliveroo has reported narrowing losses and an increase in revenue in what the group described as a “resilient year of growth” as consumers paid more money for fewer orders.
The group posted a £31.8m loss for the year, significantly smaller than the £294.1m loss reported for 2022.
Total orders declined by 3% to £290m, while the transaction value (GTV) per order increased by 6%, from £22.90 to £24.30, which Deliveroo said reflects price inflation and higher consumer fees.
The group said its target is to create a retail business in “the region of £700m GTV by 2028”.
GTV growth is expected to be in the range of 5% to 9% and adjusted EBITDA to be between £110m and 130m this financial year.
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