Tesla (TSLA) is expected to report third-quarter deliveries on Monday. Estimates have varied but the latest is that the electric vehicle giant will deliver 461,000 vehicles, according to FactSet. Tesla delivered about 466,000 vehicles in the second quarter. Separately, a report said that Tesla also unveiled an updated version of the Model Y in China. The stock rose 0.4% in pre-market trading.
US-listed shares of Chinese electric vehicle makers NIO (NIO), XPeng (XPEV), and Li Auto (LI) also traded higher after the companies reported a total of 66,831 deliveries in September, up 116% from a year earlier. It was the joint’s second-best month ever. NIO rose 0.4%, XPeng rose 0.8%, and Li Auto rose 1.4%.
Rivian Automotive (RIVN) shares rose 3% to $25 after Evercore ISI upgraded the electric truck maker to Outperform from In Line with a $35 price target.
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AMC Entertainment (AMC) rose 1.6% after the movie theater chain said a film inspired by Beyoncé’s Renaissance World Tour will be released globally by the company. “Renaissance: A Film by Beyonce” is scheduled to officially open in the United States, Canada and Mexico next December. 1. AMC announced in August that it would release the “Taylor Swift: The Eras Tour” concert film in October. 13, and serves as its global distributor.
Apple (AAPL) stock rose 0.2%. The company said over the weekend that it plans to release an update to its iOS 17 software to improve it Overheating issues With the recently released iPhone 15.
Earnings reports are expected this week from Constellation Brands (STZ), Lamb Weston (LW), Conagra Brands (CAG), and Levi Strauss (LEVI).
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Write to Joe Woelfel at [email protected]
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