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Energy’s rough patch may not last long.

The year’s top-performing sector — the worst performer in the past month — should maintain the No. 1 spot as investors realize the depth of the demand-supply imbalance in energy, BK Asset Management’s Boris Schlossberg told CNBC’s “Trading Nation” on Thursday.

Though concerns around the Covid-19 delta variant have kept a lid on gains, “once that goes away, you’re still going to have resurgent demand with very limited supply,” the firm’s managing director of FX strategy said.

His top pick in the space was oilfield service company Halliburton, which he was long via the $19-$22 call spread expiring in November. The stock began trading up nearly 2.5% at $19.91 on Friday.

“Even though it’s a fracking company in a lot of ways, fracking at these levels of oil prices is the best market since 2017, so, I think it’s going to perform very well,” he said.

The company is also using artificial intelligence and cloud computing to streamline its processes and make it more asset-light, another plus for investors, Schlossberg said.

“All of this stuff is going to translate into much better margins and earnings for the company as we go forward, especially if oil just simply stays at these levels,” he said. “It doesn’t even have to rally. Just as long as it stays at 65 through the end of the year, I think we’re going to look very golden with Halliburton.”

West Texas Intermediate crude oil prices rose slightly to around $69.63 on Friday.

It may pay to be more cautious when it comes to energy stocks, TradingAnalysis.com founder Todd Gordon said in the same interview.

“XLE is beginning to rotate out of favor relative to the S&P as the benchmark,” with technology rotating into favor instead, he said, referring to the Energy Select Sector SPDR Fund.

“We’re going to need energy for sure, but in terms of in our portfolio, I’d say no,” Gordon said.

For those who must have exposure, Gordon recommended exploration and production stocks over equipment and service plays.

“Exploration and production is the industry to watch within energy, and if you want a name, try a name like Devon,” he said.

With a 1.7% dividend yield and several earnings beats behind it, Devon offers stability on a fundamental basis and a potential breakout opportunity on the technical front, Gordon said.

“If we can get up through about $32, we’ve broken technical resistance,” he said. “Maybe it gets a run if you want some energy exposure.”

Devon started Friday’s trading nearly 3% higher at $27.41.

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Tesla releases API pricing, dev says would cost $60 million per year to run his 3rd-party app

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November 28, 2024

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Tesla releases API pricing, dev says would cost million per year to run his 3rd-party app

Tesla Mobile app

Tesla has released API pricing for third-party apps and this developer says that it would cost them $60 million per year to run their third-party Tesla app under these new pricing.

After years of operating in a gray zone without an official API, which is an interface to communicate with a service, Tesla third-party apps finally got official API documentation late last year.

It is currently geared toward fleet management, but developers hoped it would be the first step toward creating a healthy Tesla third-party app ecosystem.

Today, Tesla has released usage pricing for its Fleet API, and it is shocking many app developers:

Tesla included a cost estimation calculator based on different signals, commands, and data needs.

It doesn’t mean much to me, but the developer of the Tessie app, a third-party Tesla analytics and automation app, used it and said on Reddit that it would cost about $60 million in API fees to run his app under this pricing model:

“I’ll owe Tesla around $60 million per year using current rate.”

That’s with 400,000 Tesla drivers reportedly using the app.

Obviously, that’s not a sustainable pricing environment, but fortunately, the developer says that he can get around it by dropping the API and using “direct car communication over IP and BLE.”

Tesla has also been releasing its own fleet management features lately, which could explain this move, which throws some cold water on third-party apps.

Tyler Corsair, the founder of Teslascope, another Tesla third-party app, added that their new API cost would add up to about 7.5 times the app’s monthly revenue. According to some other devs, they are not even amongst the worst positioned.

Electrek’s Take

This is reminiscent of a situation Reddit had last year when it also updated its API pricing, which resulted in killing some popular third-party apps that had become more popular than Reddit’s own mobile app.

It’s sad to see Tesla going that way.

It will likely kill some useful third-party apps. Fortunately, it does sound like some will be able to work around it, but I wouldn’t be surprised to see some give up amid what can be perceived as an hostile move from Tesla toward third-party apps.

What do you think? Let us know in the comment section below.

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Thanksgiving and Black Friday Green Deals: EVs, power stations, tools, smart devices, appliances, more

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November 28, 2024

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Thanksgiving and Black Friday Green Deals: EVs, power stations, tools, smart devices, appliances, more

Happy Thanksgiving y’all! With the holiday officially here and bellies being filled throughout the day, we’ve got our annual collection of Black Friday Green Deals coming right along with it. The savings train has long been in full swing across multiple online marketplaces, and to help out with your seasonal shopping needs, we’ve rounded up all the deals we’ve spotted into this hub for your browsing pleasure. Many of the savings you see here are the biggest of the year as prices are being slashed left and right to their lowest rates. There’s plenty of opportunities to save big bucks on eco-friendly devices, equipment, and more from your favorite brands, with EVs, power stations, electric tools, ENERGY STAR appliances, smart outdoor gear, wood-burning grills, fire pits, and more all benefitting from sales. Enjoy all that we’ve collected here for you today, but don’t sit on decisions too long, there’s no telling how long stocks or these prices may last.

Black Friday Green Deals and more

Featured deal: Buzz Bicycles is bringing readers an exclusive promotion this Black Friday to save $400 on its Centris class 2 folding e-bike that drops costs to the best price of the year on top of including a free accessory – all for $799, after using the promo code ELECTREK200 at checkout. Featuring a step-thru and folding frame, you’ll enjoy cruising through the streets at 20 MPH top speeds for up to 40 miles, making it a great entry-level model for new riders as well as veteran riders seeking a more affordable option. There are two colorways here to choose from, and plenty of solid features like the 4-inch fat tires, front suspension, front and rear lighting – and even front and rear cargo racks too. Adding an electric solution to your commuter needs doesn’t have to break the bank with this deal.

Black Friday Green Power Station Deals

Featured deal: With more than 130 years in the bicycle business, Huffy is well-known across the market, especially for its large lineup of kid-friendly models. For Black Friday, the brand is providing some exclusive savings on its iconic Electric Green Machine Trike at $419, after using the promo code ELECTREKGM at checkout for 30% off. Ideal for riders aged 8+ and falling under the 180-pound max weight, it gives kids the chance to experience 15 MPH top speeds thanks to its 250W front hub motor alongside the 36V battery. This model will also grow with your child, as its seat provides three different adjustable settings to keep them safe while they tear up the pavement with plenty of spins and drifts.

Black Friday Green EV Deals

Featured deal: Mokwheel Bikes is offering up to $900 in savings across its e-bike lineup this Black Friday, with free gear coming along with select purchases too. You can buy any two ebikes and get a FREE accessory or FREE Gift Package ($499.99~$699). The biggest of these deals comes in on the brand’s latest models, the Obsidian and Obsidian ST Power Station e-bikes at $2,099, down from $2,999, with a choice between three different gifts, all worth $599. Coming with either the standard high-step or step-thru fames, what makes these newer models stand out is their built-in power station capabilities when you choose to receive the 1,000W inverter as your free gift, providing on-the-go juice for your devices using the bike’s 940W battery (on top of solar charging functionality too)

Black Friday Green Garden/Lawn Care Deals

Black Friday Green Appliance Deals

Apple Watch 

AirPods

Apple Pencil, Mac accessories, more

Google Black Friday deals

Samsung Black Friday Week deals

Smart Home Black Friday deals

PC gaming and more

PC, Snapdragon, Copilot+, Chromebook deals

Speakers and headphones

General Tech

iPhone and Apple Watch accessories

Amazon gear deals

Kindle 

Echo Spot, Dot, and Pop smart speakers

Echo Show smart displays

Fire TV Stick

Echo Buds

Fire Tablets

Smart TVs

Our master roundup of Black Friday smart TVs is waiting for you right here – there’s far too many to drop down in here, but we will leave you with some highlights below. The complete list awaits right here.

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Volkswagen may axe its Tesla-inspired retail model for EVs  

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8 hours ago

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November 28, 2024

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Volkswagen may axe its Tesla-inspired retail model for EVs  

Volkswagen's-ID.3-GTX-FIRE+ICE

Volkswagen Group is radically overhauling its business strategy to save money and stay afloat, and it may axe its Tesla-inspired direct-to-consumer retail model for EVs in major European markets.

In a press release, VW said that selling EVs through direct-to-consumer models while also selling ICE vehicles via traditional retail operations was too complex in Europe’s weak auto market, pointing to what it says is the slow pace at which consumers are buying EVs.

“Given challenging framework conditions, we will have to reevaluate if our current agency model for all-electric vehicles delivers the best possible customer experience,” Marco Schubert, the VW Group board member responsible for sales, said in a statement. Still, he added that direct-to-consumer sales will remain a “long-term target” for the automaker.

Tesla’s revolutionary direct-to-consumer model, which bypasses traditional dealerships in favor of selling cars directly through its own network of stores and online, has completely disrupted the way in which cars are sold in Europe, with many legacy automakers trying their best to follow suit in a highly regulated auto market. In VW’s case, its EVs can be purchased via dealers, and the dealer earns a fixed, lower margin without needing to take on marketing costs or carrying costs for inventory.

Audi-Q8-e-tron-Dakar
Audi-Q8-e-tron-Dakar

The possible retail revamp includes VW brand vehicles but also Audi, Skoda, and VW commercial vehicles in France, Germany, Poland, Spain, and the UK.

In 2020, VW introduced its direct-sales model for EVs, and the results from its review are expected to be released in March of next year. VWs’s Cupra brand, however, will continue to sells its EV under the direct-to-consumer model, as will all VW vehicles sold in Ireland and Sweden, regardless of drivetrain.

This comes at a time when VW is radically restructuring its business to cut costs, and plans to close down three factories in Germany – the first time in the company’s 87-year history that it is closing factories on its home turf. The plan includes cutting tens of thousands of jobs and slashing pay for 10% of its remaining staff.

The brand is also seeking to streamline production and development processes, shaving off months on the development cycles of specific projects to help tighten the belt, reports Automotive News Europe.

VW is closing its Audi plant in Brussels where it makes soon-to-be-retired Audi Q8 E-Tron – an €80,000 electric SUV that suffered from low sales –  in a few months. The company announced that it will close the factory on February 28, 2025, with 3,000 workers losing their jobs in the Brussels area.

Photo credit: Volkswagen Group

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