Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. 1. U.S. equities moved lower in midmorning trading Friday, with the S & P 500 down 0.2% and the Nasdaq Composite down 0.68%. Jim Cramer said that the market is now bifurcated, with bank stocks going higher on the back of strong earnings and Big Tech coming under pressure. At the same time, bonds rallied, with Treasury yields pulling back in a flight to safety. The yield on the closely-watched 10-year Treasury was hovering around 4.6%. And oil prices surged roughly 4% amid growing geopolitical risk, as West Texas Intermediate crude moved above $86 a barrel. Club energy name Pioneer Natural Resources (PXD) followed suit, climbing more than 2%, while Jim reiterated the Club’s intention to exit the position given Exxon Mobil’s planned acquisition of the shale company. 2. Club holding Wells Fargo (WFC) on Friday reported a 7% uptick in revenue year-over-year for the third quarter, with beats on both net-interest income and non-interest income. Earnings-per-share of $1.48 topped analysts’ estimates of $1.24 a share. The bank also raised its full-year 2023 net-interest-income growth outlook to 16%, up from guidance of 14% and ahead of the consensus estimate of 14%. Jim on Friday highlighted his belief in CEO Charlie Scharf’s ability to continue to turn around the bank under challenging circumstances, while suggesting he expects Wells Fargo stock to only move higher. Shares of WFC jumped roughly 3.8%, to more than $41 apiece. Stay tuned for a full Club analysis on the results later Friday. 3. Club holding Danaher (DHR) sold off late Thursday after German bioprocessing rival Sartorius (SARTF) preannounced a third quarter miss and lowered its organic-growth outlook due to a longer inventory destock from its U.S. and Chinese customers. But TD Cowen said Sartorius’ latest cut aligns its guidance more closely with that of Danaher, which was more conservative with its outlook last quarter. We expect Danaher’s stock will rally before the bottom of the of the bioprocessing cycle. “This is a stock to own,” Jim said Friday. (Jim Cramer’s Charitable Trust is long PXD, WFC, DHR. 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. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Florida’s State Parks are stepping up their environmental and operational game, introducing a large fleet of powerful electric bikes to support park ranger patrols.
The Florida State Parks Foundation, under its sustainability-focused Greener Initiative, recently announced the expansion of e‑bike units across the state’s parks system. The fleet of Velotric Nomad e-bikes, each equipped with 750‑watt motors and with a claimed 65‑mile range, can offer a substantial 500‑lb payload capacity. They also feature 4″ wide fat tires optimized for riding on rough paths or off-road trails, making them ideal for park ranger patrols.
These e‑bikes are now being distributed to multiple locations throughout Florida, including Fort Clinch, Olustee Battlefield Historic, Rainbow Springs, Stephen Foster Folk Culture Center, and Suwannee River State Park.
According to Julia Gill Woodward, CEO of the Foundation, the overwhelming success of the first wave of e‑bikes prompted swift expansion. “The Greener Initiative has done incredible things to reduce our environmental footprint,” she noted, adding that it’s “even more amazing when Greener projects align with resources that support our rangers.”
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These additions bring the statewide fleet to 50 e‑bikes, funded via sales from the “Explore Our State Parks” specialty license plate. Starting in 2023, the Greener Initiative has rolled out a variety of efforts to make Florida’s parks cleaner and more efficient, including slashing emissions, cutting down on waste, lowering energy consumption, and enhancing the overall experience for visitors.
Electrek’s Take
I love this, and it’s a great example of how e-bikes are perfect for so many different patrol uses among park rangers, police officers, security companies, and other types of official fleet usage.
We’re seeing this more and more, and the reason is obvious: It works. E-bikes are a lot cheaper than alternatives like UTVs, golf carts, or “real” vehicles like cars and trucks. They require significantly less maintenance, and they’re a lot more fun too.
I just hope they mount some extra water bottle holders. I often ride in Florida, and in the summer, I can drink a gallon a day… on an electric bike!
Via: WCJB
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Lucid’s most adventurous vehicle has just arrived. The Lucid Gravity can drive 450 miles on a single charge, comfortably fits seven, and is faster than the average sports car. Lucid promises the new X concept takes the electric family hauler to a new level.
Meet the Lucid Gravity X adventure-ready EV SUV
Lucid has been hyping the new model as “a bold new concept of electric exploration,” describing it as its most adventurous vehicle to date.
At Monterey Car Week on Friday, we finally got our first look at Lucid’s stunning new Gravity X concept. Based on the Lucid Gravity Grand Touring, which features an impressive up to 450 miles of EPA-estimated range, AWD, and a 0 to 60 mph sprint in just 3.4 secs, the X is designed to take you even further.
As Lucid put it, the X “advances this exceptional foundation, exploring what it would be like to push the limits further.
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The concept features a new look, lifted ride height, and added off-road elements for all on and off-road adventures. Lucid fine-tuned the front and rear ends to improve approach and departure angles. It also slapped all-terrain tires, protective skid plates, and tow hooks on it, just in case.
The Lucid Gravity X concept (Source: Lucid Group)
Like we first saw in the teaser, the X concept is equipped with an integrated crossbar with LED lights and a roof box.
Lucid says every detail on the new concept was intentional, from the Astral Drift satin paint to the topographical references to Big Spur and Death Valley on the hood.
The interior features upgrades, including premium leather seats, high-performance floor mats, and a microsuede steering wheel.
The interior of the Lucid Gravity X (Source: Lucid Group)
According to Lucid, the Gravity X, pronounced Gravity Cross, is “ready to go anywhere. Take on everything. And compromise nothing.”
Although it’s just a concept for now, the X gives us a glimpse into a future off-road Gravity trim. As we mentioned earlier this week, Lucid could be preparing to introduce a rugged new variant to compete with Rivian’s California Dune Edition R1S and R1T models.
What do you think of the rugged Gravity X Concept? Should Lucid bring it to life? It wouldn’t be surprising to see a new variant hit the market soon.
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This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes new e-bikes from Heybike, the Priority Skyline launch, Segway’s new 50 MPH electric scooter, a Bafang hub motor with automatic shifting, and more.
The Wheel-E podcast returns every two weeks on Electrek’s YouTube channel, Facebook, Linkedin, and Twitter.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends, the video will be archived on YouTube and the audio on all your favorite podcast apps:
We also have a Patreon if you want to help us to avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.
Here are a few of the articles that we will discuss during the Wheel-E podcast today:
Here’s the live stream for today’s episode starting at 9:00 a.m. ET (or the video after 10:00 a.m. ET):
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