Tesla Chief Executive Officer Elon Musk gets in a Tesla car as he leaves a hotel in Beijing, China May 31, 2023.
Tingshu Wang | Reuters
Tesla shares rose over 7% in Monday morning trading, driven in part by stronger-than-expected second quarter deliveries and production numbers.
The numbers, from the automaker’s Sunday report, are the closest company-disclosed approximation of sales and are closely watched by analysts and shareholders.
Analysts expected 445,925 deliveries for the period ending June 30, 2023. Tesla beat that estimate by over 20,000 cars, delivering 466,140 vehicles for the second quarter of 2023.
The delivery number was propelled by incentives and discounts offered to buyers in the first half of the year, and by a $7,500 federal tax credit under the Inflation Reduction Act in the U.S.”
Tesla shares are up nearly 126% year-to-date, after a bruising 2022 performance that left them headed for historic lows. Shares remain well off pandemic highs, when the stock briefly sustained above $407 in November 2021, but have since largely recovered from a December 2022 bottom of $101.81.
Packages ride on a conveyor belt during Cyber Monday, one of the company’s busiest days at an Amazon fulfillment center on December 2, 2024 in Orlando, Florida.
Miguel J. Rodriguez Carrillo | Getty Images
Amazon is reaching out to third-party merchants, who account for the majority of products the company sells, to gauge how President Donald Trump’s sweeping tariffs are affecting their businesses.
Members of Amazon’s seller relations team began contacting some U.S. merchants last week, according to an email viewed by CNBC. The email asks how the “current U.S. tariff situation” has impacted sellers’ sourcing and pricing strategies, logistics operations and plans to ship goods into Amazon warehouses.
“I wanted to open a discussion about the current U.S. tariff situation and how it’s affecting our businesses on Amazon, particularly in terms of logistics,” the email says. “As of April 2025, we’re still dealing with the repercussions of various tariff policies, and I believe it’s crucial for us that you share current experiences and strategies.”
Representatives from Amazon didn’t immediately respond to a request for comment on the email, which was reported earlier by The Wall Street Journal.
Companies of all sizes are digesting the impact of Trump’s new tariffs. Earlier this month, the president signed an executive order imposing a far-reaching plan, but within days he reversed course and dropped country-specific tariffs down to a universal 10% rate for all trade partners except China, which faces tariffs of 125%. Stock and bond markets have fluctuated wildly in the past two weeks.
The levies on goods from China could be particularly burdensome for the millions of businesses that rely on Amazon’s third-party marketplace and source many of their products from the world’s second-largest economy. Third-party sellers now account for about 60% of all products sold on Amazon’s website.
Some Amazon sellers told CNBC they plan to hold steady on prices for as long as they can to remain competitive, but that the added cost of the tariffs could ultimately put them out of business if they remain in place.
Amazon CEO Andy Jassy said last week that some sellers may end up passing the cost of tariffs onto consumers in the form of higher prices.
“I understand why, I mean, depending on which country you’re in, you don’t have 50% extra margin that you can play with,” Jassy said Thursday in an interview with CNBC’s Andrew Ross Sorkin.
The tariffs have affected other parts of Amazon’s retail business. Last week, the company began to cancel some direct import orders for products sourced by vendors in China, consultants told CNBC. Some vendors of home goods and kitchen accessory items had products ready for pickup by Amazon at shipping ports, only to learn that their orders were canceled.
Amazon shares are down 18% so far this year, while the Nasdaq has fallen 13%.
Dutch digital bank Bunq on Tuesday said it’s filed for broker-dealer registration in the U.S. as it looks to further expand across the Atlantic.
Bunq CEO Ali Niknam said the broker-dealer application will be an initial step toward securing a full banking license. He couldn’t offer a firm timeline for when Bunq will secure this authorization in the U.S. — but said he’s excited for its growth prospects in the country.
Obtaining a broker-dealer license will mean Bunq “can offer our users who have an international footprint — which is the user demography we’re aiming for — a great number of our services,” Niknam told CNBC. Bunq mainly caters for “digital nomads,” individuals who can live and work from anywhere remotely.
Bunq will be able to offer most of its services in the U.S. with the exception of a savings account after securing broker-dealer authorization, Niknam added.
Bunq, which touts itself as a bank for “digital nomads,” currently has a banking license in the European Union. It has applied for an Electronic Money Institution (EMI) in the U.K. Bunq previously had operations in Britain but forced to withdraw from the country in 2020 due to Brexit.
Bunq initially filed for a U.S. Federal bank charter in April 2023. However, it withdrew the application a year later, citing issues between its Dutch regulator and U.S. agencies. The company plans to resubmit its application for a full U.S. banking license later this year.
“This is different in continental Europe to the U.K. We had negative interest rates for long,” Niknam told CNBC. “So as we were growing, actually our cost base was also growing because we had to pay for all the deposits that people deposited a Bunq so I think we’re in a great position in 2025
Bunq is coming up against heaps of competition, especially in the U.S. market. America is already served by established consumer banking giants, including JPMorgan Chase, Bank of America, Wells Fargo and Citigroup. It’s also home to several major fintech brands, such as Chime and Robinhood.
Shares of Hewlett Packard Enterprise jumped nearly 5% after Elliott Investment Management built a more than $1.5 billion stake in the server maker, a person familiar with the matter told CNBC.
The activist investor hopes to engage the company in discussions on how to improve shareholder value, the source said.
Elliott declined to comment on the news. HPE did not immediately respond to CNBC’s request.
Shares of the data center equipment maker have lost more than a fourth in value this year. Last month, the company topped quarterly revenue expectations, but issued weak fiscal full-year guidance. HPE said it was grappling with higher discounting and expected price adjustments to weigh on its top-line growth.
Most recently, the investment management firm took a $1.5 billion stake in industrial software maker Aspen Technology, and said it opposed a deal that would allow Emerson Electric to buy remaining shares of the company in a $7.2 billion deal. In March, the firm named nominees to join the board of oil company Phillips 66, where it has amassed a $2.5 billion stake.
HPE is currently in attempting to buy Juniper Networks for $14 billion, but the U.S. Department of Justice sued to block the deal earlier this year.
Bloomberg first reported the news.
Correction: This story has been updated to reflect that Elliott took a $1.5 billion stake in HPE. A previous version of the story misstated the amount.