After a rough September, October has so far been much more kind to stocks and has helped Wall Street cut into some of its third-quarter losses . More encouragingly, our biggest winners aren’t limited to one sector but come from a range of industries, including retail, health care and cybersecurity. This month through Monday, the S & P 500 gained about 2%, the tech-heavy Nasdaq Composite rose 2.8% and the Dow Jones Industrial Average increased 1.5%. In September, the S & P 500 sank 4.87%, the Nasdaq tumbled 5.81% and the blue-chip Dow dropped 3.5%. Here are our top five performers so far in October, and the factors that are driving the strong performances. FL mountain 2023-09-29 Foot Locker’s stock performance so far in October. Our worst performer for the September quarter, Foot Locker (FL) has rebounded to start the fourth quarter with a 25% gain. The ascent began after Nike ‘s (NKE) late September earnings report and conference call, when the shoemaker mentioned a “reset” in its relationship with Foot Locker. While the stock move has been encouraging, we don’t want to chase it. Shares of FL remain down 42% year to date, and as Jim Cramer mentioned during our October Monthly Meeting , the company’s turnaround plan has a tight deadline. LLY mountain 2023-09-29 Eli Lilly’s stock performance so far in October. Eli Lilly (LLY) shares have returned to their winning ways after falling about 3% in September. The stock closed at an all-time high Thursday. Its 14.8% climb in October has pushed its year-to-date gains to roughly 68%, the fourth best in our portfolio. We locked in significant profits on Sept. 12 — before the stock began its multiweek draw down — which makes us more comfortable letting the stock ride here. Lilly’s best day this month came on Oct. 11, when it rallied 4.5% in sympathy with a bullish GLP-1 trial announcement from rival Novo Nordisk (NVO). Lilly’s diabetes drug Mounjaro and Novo Nordisk’s diabetes treatment Ozempic and weight-loss drug Wegovy are in a drug category known as GLP-1s. Mounjaro, a key piece to our LLY thesis, is awaiting U.S. regulatory clearance to also treat obesity. PANW mountain 2023-09-29 Palo Alto’s stock performance so far in October. Our third-best performer in October is Palo Alto Networks (PANW), which is up 11.55% through Monday. Similar to Eli Lilly, the cybersecurity company’s stock closed at a record high Thursday and has been a big 2023 winner — up 87.4%, trailing only Nvidia (NVDA) and Meta Platforms (META) in our portfolio. Nevertheless, the stock’s October gains are notable because they follow three consecutive monthly declines. PANW’s recent strength seems tied, in large part, to high-profile cyber attacks at companies such as Clorox (CLX) and Johnson Controls (JCI). The various breaches underscore the importance of security tools that Palo Alto and its cyber peers provide. Palo Alto offers a slew of security features on the same platform, which is attractive to customers looking to consolidate their spending. CTRA mountain 2023-09-29 Coterra Energy’s stock performance so far in October. Coterra Energy (CTRA) has gained about 8% in October, building on the stock’s 6.9% advance in the third quarter as crude oil prices rallied. Coterra’s stock rise was supported by a big jump in natural gas futures early in the month — though some of that move has faded. More generally, sentiment around exploration-and-production companies like Coterra has been boosted by Exxon Mobil ‘s (XOM) takeover offer for now-former Club holding Pioneer Natural Resources (PXD), which some in the marketplace believe could spark additional consolidation in the energy sector. Additionally, the Israel-Hamas war has heightened geopolitical risk in the global oil market, placing some upward pressure on prices. We exited our Pioneer position on Monday. HUM mountain 2023-09-29 Humana’s stock performance so far in October. Occupying the No. 5 spot in October is Humana (HUM), which has climbed 7.75%. On Oct. 6, we made good on a pledge to trim Humana when the stock returned to $500 per share amid a recovery from a major sell-off in the summer. Sentiment around Humana has continued to improve in recent days. First, there was positive quarterly results Friday morning from fellow insurer UnitedHealth Group (UNH). Then after the close Friday, the U.S. government issued grades on 2024 Medicare Advantage plans, and Humana’s offerings scored well. Those favorable grades, known as star ratings, likely contributed to Humana’s 3.6% gain in Monday’s session. (Jim Cramer’s Charitable Trust is long FL, LLY, PANW, CTRA and HUM. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. 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A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell on August 5, 2022 at Wall Street in New York City.
Angela Weiss | AFP | Getty Images
After a rough September, October has so far been much more kind to stocks and has helped Wall Street cut into some of its third-quarter losses. More encouragingly, our biggest winners aren’t limited to one sector but come from a range of industries, including retail, health care and cybersecurity.
Kia’s fastest car (EV or gas) is getting a major upgrade. The new Kia EV6 GT was spotted in the US for the first time, and it looks like a drastic improvement from the already sporty EV. Check out Kia’s new EV6 GT in matte blue.
With a starting price tag of just over $60,000, the EV6 GT (see our review) is one of the most affordable electric sports cars on the market.
With up to 576 hp and 545 lb-ft of torque, Kia’s EV can accelerate from 0 to 60 mph in just 3.4 seconds. The EV6 GT is not only Kia’s most powerful vehicle so far, but it’s also among the fastest cars from any automaker, including gas-powered ones.
Kia put its top performer up against a Ferrari Roma and Lamborghini Huracan Evo Spyder RWD to prove it. An independent test by AMCI confirmed the electric sports car “out-accelerated” the iconic sports cars.
Now, Kia’s EV6 GT is getting even more powerful, dynamic, and sporty. Kia launched the upgraded model in Korea in late November, starting at just over $50,000 (72.2 million won).
Kia’s new EV6 refresh debuted in the US at the LA Auto Show in November. It now has even more driving range, faster charging, and a slick new look. It even includes an NACS port for charging at Tesla Superchargers. The new GT trim boasts up to 641 hp (478 kW) and 568 lb-ft (770 Nm) max torque, which is good for a 0 to 62 mph (0 to 100 km/h) sprint in just 3.5 seconds.
What to expect from Kia’s new EV6 GT in the US
Powered by Kia’s fourth-generation battery pack, the new EV6 GT has a driving range of up to 220 miles (355 km), up from 332 km (206 mi) in the outgoing model.
With deliveries approaching, the new EV6 GT was spotted in the US for the first time without any camouflage. The video from KindelAuto gives us a good look at what to expect from Kia’s sporty new EV. The most noticeable feature is the matte blue, which adds to the already sleek design.
You can see other upgrades immediately, like the redesigned front bumper and headlights. The rear bumper is wider with a wing-type design, while the 3-D taillights are based on Kia’s Star Map design.
It also pulls a fan favorite from Hyundai’s IONIQ 5 N with a new Virtual Gear Shift (VGS) feature. We caught it in action last month after a Korean YouTuber showed off how it works (see the video here).
Kia will build 2025 EV6 models, except the GT trim, at its Georgia assembly plant alongside the new EV9. The new model will be available in Light (RWD), Light Long Range (RWD or e-AWD), Wind (RWD or e-AWD), GT-Line (RWD or e-AWD), and GT (e-AWD) trims. It is expected to go on sale in the first half of next year.
With a larger 84 kWh battery pack, the refreshed EV has a range of 319 miles, up from 310 in the outgoing model.
Kia also upgraded the interior with its new connected car Navigation Cockpit (ccNC) OS system, which features dual 12.3″ driver and infotainment screens in a curved display.
A Kia official said the upgraded model “will become a new standard that will change the paradigm of high-performance electric vehicles.”
Do you agree? Can it compete with top-of-the-line EV sports cars like the Tesla Model S Plaid or Porsche Taycan Turbo GT? It’s already about half the cost. In the comments below, let us know your thoughts on the upgraded EV6 GT.
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A Tesla Cybercab, or Robotaxi, Tesla has been using the names alternatively, has been spotted with a steering wheel – raising questions.
Last year, Tesla unveiled the Cybercab, a two-seat steering wheel-less electric vehicle that the automaker claims will power a fleet of autonomous ride-hailing vehicles.
At the unveiling, Tesla gave some rides in the vehicle, but it was on a closed circuits on private roads with teleoperations. The vehicle didn’t display capabilities much more advanced than what it already deployed in customer vehicles.
Many industry watchers are skeptical about the vehicle because it relies on the same ‘Full Self-Driving (Supervised)’ technology in Tesla’s existing vehicles. However, Tesla is betting that it will be able to make it “unsupervised” by the time this vehicle gets into production in 2026 since it doesn’t have a steering wheel to be “supervised” like Tesla’s existing customer fleet.
But now, a Tesla Cybercab has been spotted with a steering wheel at Gigafactory Texas:
The picture was taken by Joe Tegtmeyer, who often flies drones over Tesla’s Gigafactory Texas in Austin.
Some questioned whether the image showed a wheel or a shadow, but it becomes quite clear that it is a steering wheel when playing with image’s contrast and exposure:
This is raising some questions. Some are questioning if it means Tesla is also planning a consumer version of the vehicle with a steering wheel, but that sounds like wishful thinking as Tesla insisted that this vehicle will launch without a steering wheel.
The more likely explanation is that Tesla is using a steering wheel to test the vehicle with driver supervision, as its current technology relies on it. This also enables it to avoid some reporting regulations regarding autonomous driving test programs.
We questioned this claim, which he made off the cuff when playing a video game, as Tesla has no autonomous driving test permit. It sounds like he either confused it with the supervised ride-hailing service for employees in the Bay Area announced last quarter or the limited testing with Cybercabs at Gigafafactory Texas’ private roads that we have seen before.
This Cybercab with a steering wheel could show that Tesla is actually conducting these trials supervised, which would make more sense.
What do you think? Let us know in the comment section below.
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The world’s largest electric vehicle maker is becoming a force in the global auto market. BYD confirmed it’s on track to open another massive EV plant overseas by the end of 2025. The new facility in Indonesia will be able to produce 150,000 vehicles a year as BYD expands its overseas manufacturing footprint.
After selling a record over 4.27 million new energy vehicles (NEVs) last year, BYD is turning up the pressure in 2025.
Tesla topped BYD by about 25,000 units last year for the global EV sales crown. However, in terms of production, China’s leader sneaked past Tesla by about 4,500 vehicles to claim the title of “World’s largest EV maker” for 2024.
As a new wave of homegrown EVs arrives in China, BYD is focusing on overseas markets to drive growth in 2025.
After opening its first EV plant in Thailand last year, BYD confirmed another overseas manufacturing facility is on track to open by the end of the year. In a new interview with Reuters, Eagles Zhao, BYD’s president director in Indonesia, said the company is aiming to finish the $1 billion manufacturing plant in the region by the end of 2025.
“Every single progression of our local manufacturing is quite smooth and also on the track. We will keep our commitment, which is by end-2025,” Zhao said.
BYD to open new overseas EV plant in Indonesia in 2025
According to Zhao, BYD plans to use the new EV plant for exports as it aggressively expands into overseas markets.
Like its plant in Thailand, the new overseas facility will have a production capacity of 150,000 vehicles. Because of the $1 billion investment, BYD has been temporarily allowed to ship cars into Indonesia without an important tax.
The move is part of Indonesia’s goal to build 600,000 EVs domestically by 2030. Like other Southeast Asian countries, Indonesia is introducing new policies to attract foreign investments and take advantage of the market’s shift to EVs.
BYD is already the leading EV maker in Indonesia, accounting for over a third (36%) of the market. According to the auto association, the EV giant sold nearly 15,500 vehicles last year, its first full sales year.
The company already sells several popular models in Indonesia, including the Seal, Atto 3, and Dolphin. Last summer, it launched its first electric multi-purpose vehicle (MPV), the M6. BYD said the M6 was already its best-selling vehicle last year. This week, BYD is introducing its luxury Denza brand.
According to Zhao, BYD will launch more vehicles in the region this year but didn’t say what models or how many to expect.
Once construction is complete, Zhao expects production to begin shortly after. With new models arriving, BYD expects “rapid” sales growth in Indonesia this year.
Electrek’s Take
BYD’s rapid rise in the global auto market is already causing legacy automakers to scramble. For example, Japan’s Honda and Nissan are now teaming up as they struggle to keep pace with BYD and other Chinese EV makers.
Japanese car brands like Toyota and Honda have historically dominated Southeast Asia. Once representing over 90% of the market, Japanese automakers have watched their share of the “Detroit of Asia,” or Thailand, fall to just 76% over the past two years.
In fact, BYD sold more electric cars in Japan last year than Toyota, and 2024 was BYD’s first full sales year in Toyota’s home market.
BYD is quickly expanding the brand globally with new plants opening in Mexico, Brazil, Hungary, Turkey, and Pakistan.
Although BYD is best known for low-cost EVs like the Seagull and Dolphin, it is launching new models in just about every segment, including pickup trucks, smart SUVs, luxury models, and electric supercars.
One thing is for certain: BYD will continue to be a name to watch in 2025 as the company looks to maintain its impressive global sales run.
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