Tesla Analysts Look Past Q3 Miss, Credit Suisse Gives Market A Scare, Tim Cook Is A 'Metaverse Skeptic' And More: 5 Key Stories You May Have Missed From The Weekend

Zinger Key Points
  • The markets are coming into October bruised and battered by multiple headwinds.
  • Worsening macroeconomic fundamentals are showing up in corporate performances, posing additional risks.
Tesla Analysts Look Past Q3 Miss, Credit Suisse Gives Market A Scare, Tim Cook Is A 'Metaverse Skeptic' And More: 5 Key Stories You May Have Missed From The Weekend

The market is yet to turn the corner, with one risk after another stifling a potential recovery from its protracted weakness. Tesla Inc. TSLA was in the spotlight over the weekend as stakeholders digested the electric vehicle maker’s quarterly deliveries and its AI Day presentations.

Credit Suisse Becomes Talk Of Wall Street: When Swiss investment bank Credit Suisse Group AG’s CS credit default swaps, or CDS, spiked on Friday, inching closer to the levels matching the ones that prevailed during the 2008 financial crisis, traders began fearing the worst.

CDS is a derivative instrument that is a measure of a borrower’s credit quality. It is a contract between two parties under which one party purchases protection from another party against losses from the default of a borrower.

The bank was already under pressure amid several scandals and mishaps, which took a toll on its stock. Fears of a Lehman-like collapse began to gain ground, and social media was awash with talks of the Swiss bank going under. Meanwhile, Credit Suisse's new CEO Ulrich Körner and other executives sprang into action to calm the fears of clients and investors.

Tesla Analysts Hope For Strong Finish To Year: Tesla reported Sunday record deliveries for the third quarter that, however, trailed expectations. This miss and the weak second-quarter performance have left many worried about whether the company can make up for the shortfall in the fourth quarter.

Tesla bull Daniel Ives of Wedbush, though stating that the third quarter was nothing to write home about, expressed confidence the company can get its lost mojo back in the final quarter of the year.

See Also: Tesla Said To Offer 3x Pay At Giga Shanghai During Weeklong Holiday As It Scrambles To Meet Full-Year Deliveries Target

Cook Says People Lack Clarity About Metaverse: Apple Inc. AAPL CEO Tim Cook said in a recent interview with a Dutch media outlet that most people are unclear about the concept of metaverse. An average person can’t tell what it is, he added. Although acknowledging virtual reality is good, he said it’s not a way to “live your whole life.”

Apple is reportedly working on a mixed-reality headset, which could hit the shelves in 2023. Cupertino’s augmented reality glasses could be made available in the second half of 2024, reports suggest.

OPEC+ Group Eyeing Output Cut: The OPEC+ Group, which comprises 13 OPEC members and 11 other oil-producing countries, is toying with the idea of slashing output by more than one million barrels per day, according to Bloomberg. The rumored move comes amid a steep drop in oil prices as demand slowed down along with the economic slowdown. The report sent oil prices spiking on Monday, with a barrel of the WTI grade crude oil trading up over 4% at around $83.

Trump-Backed Bolsonaro Trails: Brazil’s Jair Bolsonaro, the incumbent, trailed his left-wing rival Luiz Inácio Lula da Silva in the presidential poll in the country. Given the narrow lead secured by da Silva, Brazil will go for a run-off election on October 30.

“Now that other Conservatives are out of the race, President Bolsonaro is in a very strong position to win BIG,” former U.S. President Donald Trump said on his Truth Social platform about Bolsonaro, whom he once dubbed as “Tropical Trump.”

What Else: October has several binary catalysts for biotech and pharma companies that could make or break their stock. Read on to have a handle on some of the key catalytic events for the industry.

Intel Corporation’s INTC self-driving technology unit Mobileye could soon tap the public market, according to the preliminary prospectus filed with the SEC on Form S-1 late on Friday. Reports previously suggested that Intel has trimmed the unit’s initial public offering valuation from $50 billion to $30 billion.

Posted In: Daniel Iveselectric vehiclesEVsJair BolsonaroLuiz Inacio Lula da Silvametaverseoil pricesTim CookBiotechNewsPenny StocksPoliticsFDAIPOsTop StoriesTechMediaGeneral

11 Best Black Friday Deals on Amazon

11 Best Black Friday Deals on Amazon

The best Black Friday deals from Amazon are still coming hard and fast because the holiday is not yet upon us and the mega-retailer prefers to keep consumers on the hook for as long as possible—spending as much money as possible. 

To that end, here are some of the best Black Friday deals from Amazon that you might want to consider today.

Calphalon 10-Piece Pots and Pans Set

Regular Price: $172

Sale Price: $138.88

Calphalon’s 10-Piece Pots and Pans Set is designed with stainless steel, stay-cool handles along with pour spouts. The nonstick surface is PFOA-free and built with hard-anodized aluminum that is both durable and conducts heat extremely well. The set includes 2 fry pans, a sauce pan with cover, saute pan with cover and large stock pot with cover.

Apple AirPods 2nd Generation

Regular Price: $144

Sale Price: $85.49

The 2nd Generation AirPods from Apple connect to all Apple devices and give you an enhanced listening experience. Plus, they come with a case that keeps them safe and allows you to charge them in a secure environment. With over 24 hours of battery life, access to Siri and easy setup, you can start listening to your favorite tunes or podcasts today.

Adidas Ultraboost 21 Running Shoes

Regular Price: $129.98

Sale Price: $89.98

The Adidas Women’s Ultraboost 21 running shoe is perfect for anyone who likes a short run, maybe a 5K, half marathon or more. Coming in several colors and styles, you can slip these shoes on, enjoy the cushioned outsole, sink into the supple insole and secure laces.

Ninja AF101 Air Fryer

Regular Price: $129.99

Sale Price: $97.83

The Ninja AF101 Air Fryer allows you to crisp, roast, reheat and even dehydrate food products faster and cheaper than ever before. It has a 4-quart capacity and offers a wide temperature range along with several time settings so that you can customize each dish to your needs. Plus, all the parts are dishwasher safe.

Beats Solo3 Wireless On-Ear Headphones

Regular Price: $199.95

Sale Price: $99

Beats by Dr. Dre are among the best headphones on the market, and the Solo3 Wireless On-Ear Headphones include the Apple W1 chip, Class 1 Bluetooth and 40 hours of battery time. These headphones even have a built-in microphone and offer an adjustable fit so that you can be comfortable whether you’re listening to an Android or iOS device.

Hoover Power Scrub Deluxe Carpet Cleaner

Regular Price: $198.98

Sale Price: $175.98

The Hoover Power Scrub Deluxe Carpet Cleaner allows you to keep your home spotless and clean up after your pets. The cleaner comes with the Hoover Paws and Claws Deep shampoo and a storage mat to keep the floor dry once it’s put away.

LG CordZero Auto Empty Cordless Stick Vacuum

Regular Price: $999.00

Sale Price: $851.71

The LG CordZero Auto Empty Cordless Stick Vacuum and Wet Mop All in One Tower is designed to work in homes with several pets or children and clean up all the messes that life brings. The battery lasts up to 2 hours, and there’s an extra removable battery that gives you even more cleaning time and power.

Breville Fresh and Furious Blender

Regular Price: $278.60

Sale Price: $199.95

Breville, a top name in blenders and juicers, offers the Fresh and Furious Blender, featuring 50-ounce capacity, Vac Q technology, pre-programmed cycles, LCD display and lid with pull ring. With the Fresh and Furious Blender, you can make everything from a smoothie to a soup and everything in between.

Hot Tools Professional 2000 Turbo Ionic Hair Dryer

Regular Price: $89.99

Sale Price: $55.63

The Hot Tools Professional 2000 Turbo Ionic Hair Dryer is designed for professional use, but it works perfectly in the home. With 1875 watts of power, 6 heat and speed settings and a lightweight design, you can easily style your hair and utilize the diffuser, cut back on the frizz and stretch the 8 ft cord for maximum functionality.

Columbia Heavenly Long Hooded Jacket

Regular Price: $160

Sale Price: $97.38

The Heavenly Long Hooded Jacket from Columbia is designed to be light for everyday use, but it’s heavy enough to protect you from the cold. The plush fleece lining, security pocket, water resistant fabric, 2-way zipper, and zippered hand pockets make the jacket both protective and functional.

ConAir InfinitiPro Hair Dryer

Regular Price: $49.99

Sale Price: $29.99

ConAir is one of the biggest names in hair and beauty, and the InfinitPro is an 1875 watt hair dryer designed for professionals with ceramic technology. The dryer comes with a diffuser and concentrator, and it allows you to blow out your hair just the way they would at the salon.

Deals the Experts Are Hoping For

Experts believe that Amazon’s Black Friday sale could linger for quite some time. It all started with the Prime Early Access sale on October 11 and 12. Previously, Amazon has offered the “Epic Deals” sale that ran through late October. 

This is to say that any sale could come up at any time. 

Even so, those monitoring Amazon are looking forward to a few potential deals, including:

  • Apple Watch
  • AirPods (any generation)
  • MacBook Pro
  • Large, underpriced TVs
  • Amazon Echo
  • More small home appliances (Dyson or Shark vacuums, Instant Pots, etc.) 

While these predictions are based on last year’s Amazon Black Friday Sale, it’s important to remember that most Black Friday sales are fairly consistent and push the products that are most likely to sell.

 

Featured image sourced from Shutterstock

Posted In: Partner ContentGeneral