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Tesla's stock price jumped 12% on Wednesday after CEO Elon Musk said the company would accelerate the rollout of more affordable electric vehicle models. Musk did not provide details on the cheaper EVs but said they would use Tesla's current manufacturing platforms and production lines. Analysts saw this as a sign Tesla had retreated from previous plans for an all-new $25,000 vehicle and would offer stripped-down versions of existing models. Competition and high costs have eaten into Tesla's bottom line after years of rapid growth, putting pressure on Musk to cut prices.
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Taka
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the Beast D
⏲ 2 minutes 47 seconds 👁 61K
IBM's stock price dropped 9% after hours as its first-quarter sales growth of 1% to $14.5 billion disappointed investors. IBM's consulting division, it's second-largest, reported flat revenues of $5.2 billion, reflecting a \
⏲ 0:46 👁 2.2M
Taka
⏲ 1 minute 45 seconds 👁 535.3K
Gigasmic
⏲ 6 seconds 👁 28.4K
New data from PropTrack showing that while rents are still rising, the rate of price growth has started to slow.
⏲ 1:54 👁 11.6M
Jeff Nippard
⏲ 14 minutes 32 seconds 👁 722K
The runaway success of weight loss drugs took the markets by storm last year, spurring huge stock gains for drugmakers like Novo Nordisk, which makes Wegovy and Ozempic. Most patients take them at home in weekly injections, using plastic, pen-like devices known as autoinjectors, filled with the liquid medication and fitted with a tiny needle as wide as two human hairs.<br/><br/>As demand for the drugs soars, so does the need for those devices. That growth has now minted a new billionaire: Roger Samuelsson, the 60-year-old Swedish cofounder of Switzerland-based SHL Medical, one of the world’s largest manufacturers of autoinjectors. Forbes estimates he’s worth $3 billion, largely thanks to his 69% stake in the company he cofounded in 1989. The remaining 31% is held by Swedish private equity firm EQT—which has minted seven billionaires over the years—and Athos, the family office of the billionaire Struengmann brothers. Press-shy Samuelsson, who declined multiple requests for an interview, also enjoys fast cars (he raced in the 2016 Ferrari Challenge series) and owns the 414-foot megayacht Octopus, which he bought in 2021; the yacht was built for its first owner, Microsoft cofounder Paul Allen (d. 2018).<br/><br/>0:00 Introduction<br/>0:20 Who Is Roger Samuelsson?<br/>3:32 The Growing Market For Injectors<br/>5:50 Who Is The Competition In The Space<br/>8:50 What's Next For SHL Medical<br/>10:45 What's Next For Roger Samuelsson<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/giacomotognini/2024/04/12/meet-the-billionaire-owned-company-making-injectors-for-blockbuster-drugs-like-ozempic/?sh=5ba1ce857607<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
⏲ 11:59 👁 4M
Stellantis reported a 12% year-over-year decline in first-quarter revenue, citing lower sales volumes and foreign exchange impacts. Vehicle shipments fell 10% to about 1.3 million units as the company manages inventory ahead of new product launches. Stellantis is transitioning its portfolio and will launch 25 new models this year, including 18 battery-electric vehicles. Four new models were introduced in the first quarter, with the company expecting \
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DESIGNED in the late 60s by Richard Teague, the father of the Jeep Cherokee XJ and Pacer – take a look at the award-winning ‘Javelin’ car. Brothers Mike and Jim Ring are known for having dedicated 4,700 hours to a 1969 Dodge Charger. Now, they’ve taken their passion into doing major bodywork and horsepower changes to high-end muscle car 1972 AMX Javelin. “Too much horsepower in a cool old vintage car, it’s a freak,” Mike said. According to the Ring brothers, the Javelin is an unusual choice for car enthusiasts. “If you talked to all the Ford Mustang guys and all the Camaro guys back then, the AMX Javelin was probably the ugly duckling” said Jim Ring. This did not stop the Ring brothers, and they set about an epic year-long project that cost them a whopping $500,000.
⏲ 4:9 👁 1.9M
Mercedes-Benz Vans wants to further expand its position as a leading manufacturer of premium vans. In doing so, the company is consolidating a decisive competitive advantage: the customised diversity of its portfolio for commercial and private use – offering a range of fully electric and conventionally powered vehicles in the small, midsize, and large van segments. The introduction of the modular and scalable Van Electric Architecture (VAN.EA) from 2026 marks the gradual transition to a focused premium strategy for commercial vans. The new Vito, eVito, Sprinter and eSprinter light commercial vehicles are a key step on this journey. They offer more comfort, safety, and functionality, especially thanks to a plus in intelligent, digital networking. This sets the course for further growth at the upper end of their respective segments.
⏲ 2:22 👁 275K
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