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My top 10 things to watch Friday, April 21

1. Truist downgraded Tesla (TSLA) to hold from buy, while lowering its price target to $154 per share, from $245. The firm cited the electric vehicle maker’s “brazen willingness to accept lower product margins.” Meanwhile, Barclays lowered its price target on Tesla to $220 per share, from $230, but maintained an overweight rating on the stock.

2. Amazon‘s (AMZN) Whole Foods is planning to cut several hundred corporate jobs, in a sign the parent company still doesn’t understand workforce management strategy.

3. JPMorgan said Amazon remains its “best internet idea,” despite decelerating growth at the ecommerce giant in the first quarter. The bank reiterated an overweight rating on the stock and price target of $135 per share. Amazon is set to report first-quarter results Thursday after the closing bell.

4. Raymond James raised its price target on Devon Energy (DVN) — a stock the Club sold in full earlier this month at a nice profit — to $70 per share, from $67, while maintaining a strong buy rating. Piper Sandler raised its price target on the oil-and-gas firm to $87 per share, from $85, and maintained an overweight rating on the stock.

5. Susquehanna raised its price target on Club holding Pioneer Natural Resources (PXD) to $278 per share, from $266, while maintaining a positive rating on shares. Pioneer reports first-quarter earnings Wednesday after the closing bell.

6. Club holding Procter and Gamble (PG) delivered a quarterly earnings beat Friday, while raising its guidance. The consumer goods staple had repeatedly raised prices, helping it to boost its gross margin by 150 basis points on an annual basis.

7. Piper Sandler lowered its price target on Blackstone (BX) to $107 per share, from $111, while maintaining an overweight weighting. Barclays, meanwhile, raised its price target on Blackstone to $99 per share, from $94, and reiterated an equal weight rating on shares.

8. JPMorgan sees a “very favorable risk/reward” for AT&T (T) shares at current levels, reiterating an overweight rating. The firm lowered its price target on the stock to $22 per share, from $23, after the company reported softer-than-expected first-quarter revenue.

9. JPMorgan downgraded ZIM Integrated Shipping Services (ZIM) to neutral from overweight, citing an uncertain spot rate outlook. The bank also lowered its price target on ZIM stock to $20.80 per share, from $27.

10. Cantor Fitzgerald initiated coverage on Club holding Humana (HUM) and CVS Health (CVS) with overweight, or buy, ratings and price targets of $597 per share and $87 per share, respectively. It’s time to buy shares of HUM here.

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This electric excavator has battery swap tech that lets it recharge in minutes [update]

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This electric excavator has battery swap tech that lets it recharge in minutes [update]

The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.

UPDATE: telematics announcement.

Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.

XCMG is delivering on part of that reduced downtime promise with the lower maintenance and easier repair needs of electric equipment, and delivering on the rest of it with lickety-quick DC fast charging that can recharge the machine’s massive battery in 1.5-2 hours … but that’s not the slick bit. The XCMG XE125EV can be powered up without leaving the job site thanks to its BYD battery swap technology.

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We first covered XCMG and its battery swap technology back in January, and covered similar battery-swap tech being developed by MOOG Construction offshoot ZQUIP, as well – but while XCMG’s battery tech has been in production for several years, it’s still not widely known about in the West (even within the industry).

XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?

Easy in, easy out

XCMG battery swap crane; via Etrucks New Zealand.

The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.

You can check out all the XE215EV’s specs at this tear sheet, and get an in-person look at the Chinese company’s latest electric excavator this week in Munich, Germany.

Telematics announcement at bauma

XCMG showcases green, smart tech at bauma 2025; via XCMG.

Earlier today, XCMG launched its next-generation Xrea Global Telematics Platform, integrating IoT, big data, cloud computing, and AI to enable what it’s caling, “seamless cross-border fleet management.”

The new telematics platform supports a dozen languages via PC and mobile interfaces, and offers real-time diagnostics, predictive maintenance, and data-driven optimization of both the vehicle and the vehicle’s batteries, empowering equipment managers and fleet operators to track fleets across town, or across time zones.

“XCMG remains committed to advancing engineering technology to empower a sustainable future. Our mission is to deliver efficient, intelligent, and eco-friendly lifecycle solutions for global clients,” said Mr. Yang Dongsheng, Chairman of XCMG Group and XCMG Machinery. “Today, 19% of our product portfolio comprises green innovations under our ‘Green Mountain’ new energy line, with full electrification across all series underway.”

SOURCE | IMAGES: XCMG; via PR Newswire.

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Tesla (TSLA) is having a terrible month, and it’s only April 10th!

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Tesla (TSLA) is having a terrible month, and it's only April 10th!

On today’s troubling episode of Quick Charge, we explore all the troubles befalling Tesla (and TSLA stock) in the month April – with top executives fleeing the ship, demand plummeting, sales slipping, government incentives at home and abroad under threat, and a raft of receipts brought on by an OpenAI lawsuit hitting the brand, it’s already a bad month for Elon … and there’s still 20 more days to go!

None of this even touches on the $43 million “backlogged” rebate scandal Tesla’s facing in Canada that’s being blamed for people’s negative attitudes about the brand (ha!) or the fact that neither the long-promised Roadster 2.0 or the Tesla Semi will see production anytime this year, either.

The word you’re looking for when you think of Tesla these days is, “cooked.”

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Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.

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A vast 600 MW Texas solar farm just hit a major milestone [update]

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A vast 600 MW Texas solar farm just hit a major milestone [update]

Renewable developer Vesper Energy has cut the ribbon on Hornet Solar in Swisher County, Texas, one of the largest single-phase solar farms in the US.

As Electrek reported in January, the 600-megawatt (MW) Hornet Solar includes over 1.36 million modules covering more than 6 square miles. The project will contribute more than $100 million in new tax revenue to Swisher County and deliver 600 MWac of energy–enough to power 160,000 homes annually. 


January 30, 2025: “The seamless coordination between our team and our EPC partner, Blattner, has enabled us to remain ahead of schedule and on budget while ensuring quality throughout the process,” said Juan Suarez, co-CEO of Irving-based Vesper Energy.

Hornet Solar uses bifacial solar panels mounted on a single-axis tracking system to maximize efficiency. The solar farm is connected to Oncor Electric’s transmission system within ERCOT and is contracted to provide power to four off-take partners through individual Virtual Power Purchase Agreements (VPPAs).

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The Hornet Solar project in the Texas Panhandle is on track to be fully online by spring 2025.

Texas is a utility-scale solar leader in the US, with a ranking of No. 2 and 37,713 MW currently installed. It’s projected to install 51,144 MW over the next five years and move into the No. 1 spot, according to the Solar Energy Industries Association (SEIA). The total solar investment in the state is $45.2 billion.

On January 21, the SEIA, Conservative Texans for Energy Innovation (CTEI), Advanced Power Alliance (APA), and the Texas Solar + Storage Association (TSSA) reported that existing and expected utility-scale solar, wind, and battery storage projects will contribute over $20 billion in total tax revenue – and pay Texas landowners $29.5 billion – over the projects’ lifetimes.

Read more: Texas just became No 1 in the US for most utility-scale solar


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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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