• 

  Barrons.com

  Tesla Stock Drops After Morgan Stanley Bull Slashes Estimates, Price Target

  Tesla stock had looked set to break a brutal two-day slump, rising in early premarket trading Wednesday until one of the biggest Tesla bulls cut his price target on the stock. Tesla shares were up more than 1% in premarket trading, while futures on the and were up 0.4% and 0.8%, respectively. “A challenging year for EVs…demand continues to decelerate despite continued price cuts,” wrote Jonas in a Tuesday evening report.

• 

  Reuters

  Tesla shares fall after Morgan Stanley cuts price target on weakening EV demand

  Tesla fell for a third day on Wednesday after a closely watched analyst at Morgan Stanley lowered his price target on the stock, saying that electric-vehicle demand was continuing to weaken in key markets including China despite hefty price cuts. Morgan Stanley joined other analysts in cutting Tesla's delivery outlook, after its weak China sales for February added to concerns about slowing growth and rising competition. "China EV market is over-supplied, seeing a barrage of price cuts," Adam Jonas said, forecasting a persisting price competition this year.

• 

  Bloomberg

  Reddit’s IPO Success Hinges on Infamously Unruly User Base

  (Bloomberg) -- Reddit’s users love to complain about Reddit. They also love to use it. Most Read from BloombergChemical Linked to Cancer Found in Acne Creams Including Proactiv, ClearasilNikki Haley Ends 2024 Bid, Setting Up Trump-Biden RematchEgypt’s Devaluation and Record Rate Hike Put IMF Deal in ReachNew York to Deploy National Guard to NYC Subways to Fight CrimeStocks and Bonds Rise as Powell Sticks to Script: Markets WrapThis week marks the deadline for the company’s most loyal posters and

• 

  Reuters

  Exclusive-Panera loosens animal welfare, ingredients standards ahead of IPO, internal documents show

  Fast-food chain Panera Bread has loosened its standards for animal welfare and so-called clean ingredients in its food ahead of a planned IPO, according to internal company documents seen by Reuters. Its stores across the U.S. were directed in late February to begin removing signs and artwork that include the phrases "No Antibiotics Ever," "Vegetarian Fed," "Grass Fed Pasture Raised," "Animal Welfare," or any mention of "Hormones," the internal documents said. The soup and sandwich company, seen as having higher standards than many competitors for sourcing ingredients, recently changed internal policies to remove the requirement its suppliers only use cattle that are pasture-raised, the documents said.

• 

  TechCrunch

  OpenAI says Musk only ever contributed $45M, wanted to merge with Tesla or take control

  OpenAI, the most valuable AI startup, said Wednesday it intends to dismiss all claims made by Elon Musk in a recent lawsuit and suggested that the billionaire entrepreneur, who was involved in the company's co-founding, didn't really have that much impact on its development and success. In a blog post authored by the entire OpenAI band — Greg Brockman, Ilya Sutskever, John Schulman, Sam Altman, Wojciech Zaremba and OpenAI — the Microsoft-backed startup revealed that since its inception in 2015,

• 

  Bloomberg

  NYCB Tumbles as Beleaguered Lender Tries to Raise Equity Capital

  (Bloomberg) -- New York Community Bancorp dropped as much as 47% as the beleaguered commercial real estate lender tries to raise equity capital to restore investor confidence.Most Read from BloombergChemical Linked to Cancer Found in Acne Creams Including Proactiv, ClearasilNikki Haley Ends 2024 Bid, Setting Up Trump-Biden RematchEgypt’s Devaluation and Record Rate Hike Put IMF Deal in ReachNew York to Deploy National Guard to NYC Subways to Fight CrimeStocks and Bonds Rise as Powell Sticks to S

• 

  Reuters

  SpaceX worker alleges severe sex bias, retaliation in US lawsuit

  Rocket maker SpaceX is being accused in a new lawsuit of refusing to promote a female production worker, paying her less than male colleagues and retaliating against her for reporting sexual harassment by her manager. Michelle Dopak, a production coordinator at SpaceX headquarters in California, said in the lawsuit filed in state court on Tuesday that company officials including president and chief operating officer Gwynne Shotwell have ignored complaints by her and other employees of widespread bias against women. Dopak also said her married supervisor pressured her into having a sexual relationship that resulted in a pregnancy.