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Joe Biden said he wants to make gig-workers full-time employees — but one of his top advisers previously helped Uber and Lyft avoid such a change in California

Nominated National Security Advisor Jake Sullivan participates as US President-elect Joe Biden speaks during a cabinet announcement event in Wilmington, Delaware, on November 24, 2020. - US President-elect Joe Biden introduced November 24, 2020 a seasoned national security team he said was prepared to resume US leadership of the world after the departure of President Donald Trump. "It's a team that will keep our country and our people safe and secure," Biden said, introducing his picks for...
Tags: Transportation, Lyft, Uber, Politics, News, Congress, California, Washington, US, America, Trends, Georgia, Joe Biden, New York Times, Department Of Justice, Biden


Tesla's market cap breaches $500 billion as mammoth 2020 rally charges on

Maja Hitij/Getty Images Tesla's market cap rallied above $500 billion for the first time on Tuesday as investors continued to scoop up the highly valued shares.The automaker's stock gained as much as 5.1%, to $548.53 per share, in Tuesday trading.Bullish analyst forecasts and the company's upcoming inclusion in the S&P 500 fueled its latest leg up. Tesla shares now sit more than 550% higher year-to-date.The rally has minted a fortune for Elon Musk. The CEO's net worth skyrocketed more than...
Tags: Elon Musk, Wall Street, Trends, Tesla, Bill Gates, Goldman Sachs, Biden, Musk, Wedbush, Ives, Dow Jones Indices, Dan Ives, Lordstown Motors, Ben Winck, Maja Hitij Getty, Baron Funds


Tesla has 104% upside potential in bull-case scenario as global demand for EVs hits tipping point, Wedbush says

Johannes Eisele/AFP via Getty Images Tesla's inclusion in the S&P 500 and its "sustained path to profitability" means the bull story is now all about an acceleration in demand for electric vehicles, according to a note from Wedbush.As global demand for EVs hits a tipping point, Tesla could surge 104% in a bull-case scenario to $1,000, Wedbush said in the note."New designs around Cybertruck and Model Y will further aid growth globally and thus enable Tesla to achieve its million delivery un...
Tags: California, Finance, China, Trends, Markets, Tesla, Joe Biden, Electric Vehicles, Trading, Stocks, Biden, Stock Market, EVs, Goldman, Wedbush, Matthew Fox


10 things you need to know before the opening bell

Thomson Reuters Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.For the biggest stories in politics, sign up here for 10 Things in Politics You Need to Know Today - launching soon!Here's what you need to know before markets open.1. Global stocks tumble as COVID-19 spread douses vaccine optimism. .2. A Tesla rival is going public at a $5.4 billion valuation. The British startup is set to list on the NASDAQ via a SPAC set up by a form...
Tags: Finance, Trends, Markets, Ubs, Morgan Stanley, EIA, Intuit, ADP, Shark Tank, SPAC, Wedbush, Kevin O Leary, Mike Novogratz, 10 Things Before Opening Bell, Trader Chat, Shalini Nagarajan


Uber will soar 22% next year before returning to pre-COVID ridership by early 2022, Wedbush says

AP/Diane Bondareff Uber will leap 22% next year, as economies reopen, before returning to pre-COVID ridership by early 2022, Wedbush analysts said in a Wednesday note.Wedbush boosted their price target for Uber to $60 from $49, implying a 22% rally from current levels.The ride-hailing firm will be "standout name" next year as mass distribution of a COVID-19 vaccine by mid-year would mean consumer demand would snap back.The "shining" Uber Eats segment and acquisition of food-delivery startu...
Tags: Europe, Time, US, Trends, Biden, Jpmorgan, Morningstar, Wedbush, Strecker Backe, Shalini Nagarajan, Diane Bondareff Uber, Dan Ives Ygal Arounian


Lyft's set to surge 33% on a ridership bounce-back and stronger path to profitability, Wedbush says

Mario Tama/Getty Images Lyft's third-quarter figures weren't thrilling, but its earnings guidance and vaccine hopes stand to push the stock to pre-pandemic highs, Wedbush said Wednesday.Analyst Dan Ives lifted his price target for Lyft shares to $48 from $37 in a note to clients, a 33% upside from Tuesday's close. Lyft executives said Tuesday they expect the company to be profitable by the fourth quarter of 2021.The optimistic guidance, when coupled with new hopes for a coronavirus vaccine...
Tags: Lyft, California, Trends, Opec, Credit Suisse, Goldman Sachs, Pfizer, Jpmorgan, Wedbush, Ives, RBC Capital Markets, Mario Tama Getty, Dan Ives, Watch Lyft, Ben Winck


Why mega-cap tech stocks could rally another 15% by year-end under a Biden-helmed split government, according to Wedbush

Sean Rayford/Getty Images Technology stocks in the FAANG, cloud software, and cyber security themes could rally 10%-15% by year-end with a Biden presidency and Republican Senate, according to Wedbush.This regime is the "Goldilocks election outcome" for tech stocks as a Biden presidency will ease US-China technology-policy issues while the Republican Senate decreases the prospect of major antitrust regulation.Wedbush listed Apple, Microsoft, Salesforce, and Zscaler as top tech stock picks. ...
Tags: Apple, Google, Microsoft, Senate, White House, China, US, Trends, Markets, Joe Biden, Beltway, Biden, Morgan Stanley, Doj, Zscaler, Wells Fargo


Uber closes in on a record high as its California victory overshadows a mixed quarter

Carlo Allegri/Reuters Uber's stock price surged as much as 8% on Friday following its third-quarter results. The company revealed a mixed recovery, with delivery continuing to help make up for a pandemic-induced slump. Executives said they still aim to be profitable on an adjusted basis next year. Prop. 22, which passed in California this week, was a decisive win for the company in its long-running labor battle. Visit Business Insider's homepage for more stories.Shares of Uber continued th...
Tags: Transportation, Uber, California, Trends, Markets, Stocks, Stock Market, Jefferies, Ride-sharing, Wedbush, EBITDA, Dara Khosrowshahi, Graham Rapier, Dan Ives, Prop 22, Proposition 22


FAANG stands for five very successful tech companies that can move the stock market — here's what to know about investing in them

The FAANG stocks are not only familiar names, but among the most profitable and influential companies in US history. LIONEL BONAVENTURE / Contributor/Getty Images FAANG is an acronym that stands for five major, highly successful US tech companies: Facebook, Amazon, Apple, Netflix, and Google.  Comprising 15% of the S&P 500, FAANG stocks' performance has a substantial effect on the overall market. Investors can buy FAANG stocks individually or via tech industry-focused funds. Visit Insider...
Tags: Apple, Google, Facebook, US, Trends, Tech, Markets, Alibaba, Freelance, Aapl, Standard Poor, Wedbush, Cramer, Jim Cramer, NFLX, Amazon AMZN


10 things you need to know before the opening bell

Mandel Ngan/Getty Images Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.Here's what you need to know before markets open.1. Results for the presidential race are still outstanding in four states and markets are on edge. Here's our live election results tracker.2. Global stocks are down as election-fatigue sets in. Stock futures, the dollar, and oil are among assets on the back-foot.3. Bitcoin is on a tear this week, shooting above $...
Tags: Congress, US, Trends, Tech, Markets, Square, Biden, Jpmorgan, EMEA, Wedbush, Amanda Cooper, EW Scripps, 10 Things Before Opening Bell, Trader Chat, Yield-street-10, Mandel Ngan Getty Images Welcome


Uber delivers a miss in third-quarter earnings as it slowly recovers from the pandemic

Uber CEO Dara Khosrowshahi speaks at an event hosted by the Economic Club of Washington D.C. Saul Loeb/AFP via Getty Images Uber on Thursday released financial results of its third quarter.  For the three months ended July 31, Uber lost more than $1 billion on revenues of $3.13 billion. Shares of the company fell in late trading following the release.  Visit Business Insider's homepage for more stories. Uber's pandemic recovery isn't happening as quickly as investors would like.The ride-ha...
Tags: Transportation, Uber, News, California, Washington, Trends, Markets, Bloomberg, Rome, Earnings, Wedbush, Economic Club, Dara Khosrowshahi, Saul Loeb, Ride-hailing, Graham Rapier


Tech stocks are primed to surge another 15% as election results seem likely to ease regulation risk, Wedbush says

VCG/Getty Images Tech stocks are thriving on expectations for a divided government in 2021. Wedbush analyst Dan Ives thinks the sector can rally another 10% to 15% by 2021.A Biden presidency and Republican-controlled Senate is the "Goldilocks election outcome" for tech names, Ives said.A divided government would likely block Democrats' efforts to more strictly regulate tech giants.A Biden administration would take a softer tone to trade relations with China and ease pressures for tech stoc...
Tags: Google, Congress, Senate, China, US, Trends, Tech, Markets, Joe Biden, Biden, Justice Department, Trump, Market Outlook, Jpmorgan, McDonald, Wedbush


Confidence 'has never been higher' : Here's what 4 Wall Street banks had to say about Apple's fiscal 4th-quarter earnings

Stephen Lam/Reuters While investors balked at Apple's worse-than-expected quarterly iPhone sales, analysts are looking past the September quarter and largely optimistic toward the company's future.The tech giant reported revenue and earnings on Thursday afternoon that beat estimates, but its stock tumbled as phone sales disappointed shareholders.Analysts at major banks praised growth in Apple's computer and services segments and advised clients to buy shares while they're at relative lows....
Tags: Apple, Wall Street, Ipo, US, Trends, Bank Of America, Goldman Sachs, Morgan Stanley, Canaccord Genuity, Reuters, Wedbush, Ives, Huberty, Katy Huberty, Watch Apple, Michael Walkley


'Valuation leaves little room for error': Here's what 4 Wall Street banks expect from Apple's fiscal 4th-quarter earnings report

(Photo by Lisa Maree Williams/Getty Images) Apple is set to report fiscal fourth-quarter results on Thursday, cluing investors in on how the company performed just before its latest iPhone event.The quarter that ended in September saw Apple introduce new services and update its watch and iPad lineups.The reveal of its first 5G-capable iPhone lineup arrived later than usual, and while iPhone 12 sales won't show up in Thursday's report, commentary on iPhone demand will be closely monitored.H...
Tags: Apple, Congress, Wall Street, China, Trends, Credit Suisse, Ubs, Fed, Rbc, Wedbush, Ives, RBC Capital Markets, Robert Muller, New York Fed, Watch Apple, David Vogt


'Another major step forward': Here's what 6 Wall Street analysts had to say after Tesla's earnings beat expectations

Reuters Tesla's third-quarter earnings report beat expectations on multiple key metrics including cash flow and gross margins. The electric vehicle automaker also reiterated its goal of 500,000 deliveries in 2020, a statement many analysts were anticipating before the report. Shares of Tesla soared nearly 5% at the market open on Thursday.Here's what six Wall Street analysts had to say about Tesla's third-quarter earnings report. Watch Tesla trade live here.Tesla's third-quarter earnings r...
Tags: Energy, Electric Vehicle, China, Trends, Markets, Tesla, Credit Suisse, Gm, TSLA, Goldman Sachs, Elon, Jpmorgan, Ev, Wedbush, RBC Capital Markets, Wedbush Securities


'Much to be excited about': Here's what 4 analysts are saying about Tesla ahead of its 3rd-quarter earnings report

Reuters Tesla will release its third quarter earnings report after markets close on Wednesday.  The electric vehicle company already announced record third-quarter production numbers and beat expectations for its deliveries in the quarter. Analysts on Wall Street are now focusing on whether Tesla will meet its 2020 delivery target of 500,000, and will be listening for any discussion of this target on the call. Below are what four analysts are saying about the world's most highly valued aut...
Tags: Elon Musk, China, Trends, Markets, Tesla, Levy, Credit Suisse, Goldman Sachs, Musk, Delaney, Wedbush, Ives, Dan Levy, RBC Capital Markets, Wedbush Securities, Tesla earnings


Dow plunges 411 points as withering stimulus hopes prompt late sell-off

Getty Images US stocks extended losses into Monday's close as a lack of stimulus progress cut into hopes for a pre-election deal.House Speaker Nancy Pelosi expedited talks on Sunday, setting a 48-hour deadline for the White House and Democrats to ink a deal. She later told Democrats that significant obstacles in reaching a compromise remain.Even if an agreement is reached, the bill is set to die in the Senate as Republicans push a $500 billion measure.The US notched its fifth-straight day ...
Tags: New York, Senate, White House, US, Trends, Markets, Tesla, Democrats, House, Treasury, Mitch McConnell, Oil Price, Nancy Pelosi, Donald Trump, Stimulus, Gold Price


Markets are pricing in a Biden victory and a Democratic Senate to fuel massive stimulus in 2021, JPMorgan says

BRENDAN SMIALOWSKI/AFP via Getty Images Investors are increasingly preparing for a Democratic sweep in November and frontloaded stimulus to boost the economic recovery, JPMorgan said following a recent call with clients.Joe Biden, the Democratic nominee, maintains a hefty lead in polls in what's shaping up to be "the most stable election in modern history," the bank said.Markets now view a Biden win and a split Congress as the worst outcome for stocks, as it would likely further the stimul...
Tags: Congress, Senate, White House, US, Trends, Markets, Tesla, Joe Biden, House, Mitch McConnell, Nancy Pelosi, Biden, Donald Trump, Democratic, Jpmorgan, Democratic Senate


Markets are pricing in a Biden victory and Democratic Senate to fuel massive stimulus in 2021, JPMorgan says

BRENDAN SMIALOWSKI/AFP via Getty Images Investors are increasingly prepping for a Democratic sweep in November, as well as front-loaded stimulus to boost the economic recovery, JPMorgan said following a recent call with clients.Vice President Joe Biden maintains a hefty polling lead in what's shaping up to be "the most stable election in modern history," the bank said.Markets now view a Biden win and a split Congress as the worst outcome for stocks, as it would likely further the stimulus ...
Tags: Congress, Senate, White House, US, Trends, Markets, Tesla, Joe Biden, House, Mitch McConnell, Nancy Pelosi, Biden, Donald Trump, Democratic, Jpmorgan, Democratic Senate


US stocks climb on investor hopes for stimulus ahead of Tuesday deadline

Getty Images US stocks gained as investors maintained optimism for Democrats and Republicans to pass fresh stimulus ahead of the November elections.House Speaker Nancy Pelosi expedited talks on Sunday, setting a 48-hour deadline for the White House and Democrats to reach a compromise.Even if a deal is reached, it's set to die in the Senate as Republicans push a $500 billion measure. A vote on the smaller proposal is set to take place on Tuesday, and Senate Democrats will all but certain...
Tags: New York, Senate, White House, Oil, US, Trends, Markets, Tesla, House, Treasury, Mitch McConnell, Stocks, Oil Price, Goldman Sachs, Nancy Pelosi, Stock Market


Apple iPhone 12 first-day preorders reportedly more than doubled those of the iPhone 11, buoyed by interest in the iPhone 12 Pro

iPhone 12 Apple Preorders for the iPhone 12 have more than doubled those of the iPhone 11, according to analyst Ming-Chi Kuo. Apple is said to have sold between 1.7 million and 2 million units of the iPhone 12 in its first 24 hours of preorder availability.  The iPhone 11, comparatively, is said to have reached between 500,000 and 800,000 orders during the same period. For the full weekend, however, preorders fell slightly under the iPhone 11's, according to the estimates. But Apple is als...
Tags: Apple, Trends, Tech, Smartphones, Retail, Cnbc, Wedbush, Ming Chi Kuo, Kuo, Tech Insider, Daniel Ives, Lisa Eadicicco, Ming Chi Kuo Apple, APPLE VERIZON, Apple Insider Apple, TF International Securities


Apple's iPhone 12 first-day preorders more than doubled those of the iPhone 11, according to a reliable Apple analyst

iPhone 12 Apple Preorders for the iPhone 12 have more than doubled those of the iPhone 11, according to analyst Ming-Chi Kuo. Apple is said to have sold between 1.7 million and 2 million units of the iPhone 12 in its first 24 hours of preorder availability.  The iPhone 11, comparatively, is said to have reached between 500,000 and 800,000 orders during the same period. For the full weekend, however, preorders fell slightly under the iPhone 11's, according to the estimates. But Apple is als...
Tags: Apple, Trends, Tech, Smartphones, Retail, Cnbc, Wedbush, Ming Chi Kuo, Kuo, Tech Insider, Daniel Ives, Lisa Eadicicco, Ming Chi Kuo Apple, APPLE VERIZON, Apple Insider Apple, TF International Securities


Tesla will gain another 14% as company closes in on 500,000 annual deliveries, Wedbush says

Odd Andersen/AFP via Getty Images Strong third-quarter deliveries set Tesla up for a healthy earnings beat on Wednesday and a sales milestone before the year is out, Wedbush analysts said Friday."Improved manufacturing efficiency and shining [Gigafactory] 3 success in China" are key drivers for the company's near-term success, the team wrote in note.The success abroad brings Tesla closer to hitting 500,000 deliveries in 2020, an achievement that was merely a "pipe dream" for the automaker ...
Tags: Europe, China, US, Trends, Tesla, Wedbush, Ben Winck, Andersen AFP, Getty Images Strong


US stocks climb on investor hope for stimulus ahead of Tuesday deadline

Johannes Eisele/AFP/Getty Images US stocks gained as investors maintained optimism for Democrats and Republicans to pass fresh stimulus ahead of the November elections.House Speaker Nancy Pelosi expedited talks on Sunday, setting a 48-hour deadline for the White House and Democrats to reach a compromise.Even if a deal is reached, it's set to die in the Senate as Republicans push a $500 billion measure. A vote on the smaller proposal is set to take place on Tuesday, and Senate Democrats wil...
Tags: New York, Senate, White House, Amc, US, Trends, Markets, Tesla, House, Treasury, TSLA, Mitch McConnell, Oil Price, Goldman Sachs, Nancy Pelosi, Donald Trump


US stocks slide as investors hope for stimulus ahead of Tuesday deadline

Johannes Eisele/AFP/Getty Images US stocks dipped as investors weighed hopes for a stimulus breakthrough against rising COVID-19 cases throughout the US.House Speaker Nancy Pelosi expedited talks on Sunday, setting a 48-hour deadline for the White House and Democrats to reach a compromise.Even if a deal is reached, it's set to die in the Senate as Republicans push a $500 billion measure. A vote on the smaller proposal is set to take place on Tuesday, and Senate Democrats will all but certa...
Tags: New York, Senate, White House, Amc, US, Trends, Markets, Tesla, House, Treasury, TSLA, Mitch McConnell, Oil Price, Goldman Sachs, Nancy Pelosi, Donald Trump


Federal inquiries, allegations of sexual assault, a resignation, and billions on the line: Here's everything you need to know about Nikola and its founder's controversial last 5 weeks

On the left, GM's CEO and chairman, Mary Barra. On the right, Nikola's founder and former CEO Trevor Milton. AP Photo/Paul Sancya; REUTERS/Massimo Pinca Automotive giant General Motors and electric vehicle startup Nikola announced a $2 billion deal in early September. In the weeks since, Nikola and its founder, Trevor Milton, have been embroiled in controversy. Since then, Milton has stepped down as the executive Chairman of Nikola's board, and has faced additional accusations incl...
Tags: Transportation, Europe, Cars, America, Trends, General Motors, Bloomberg, Mary Barra, Gm, SEC, Department Of Justice, Smith, Doj, Financial Times, Cnbc, Business Insider


Apple's iPhone 12 livestream was absent from Chinese video platforms, who reportedly canceled coverage without explanation

iPhone 12 Apple Apple's livestream of its iPhone 12 launch event on Tuesday was not available to watch on top Chinese social media platforms. Tencent Video, iQiyi, Bilibili, and Weibo didn't stream the event. Bloomberg reported that the platforms canceled coverage without explanation. The event garnered massive interest in China, Apple's second-largest market by revenue, and the iPhone 12 was the top topic on Weibo. Visit Business Insider's homepage for more stories. Top Chinese social med...
Tags: Iphone, Apple, Technology, China, US, Trends, Tech, Bloomberg, Tencent, Weibo, Wedbush, Apple Apple, China Apple, Tech Insider, Bilibili, Gao Yuan


Apple sees $81 billion in market value erased as it unveils its first 5G iPhones

iPhone 12 Apple Apple stock slid as much as 4% on Tuesday as the tech giant revealed its first slate of 5G-capable iPhones.The dive erased $81 billion from Apple's market capitalization at intraday lows before shares pared some losses.Analysts have high expectations for the new phones, with roughly 350 million iPhones eligible for an upgrade this year.Watch Apple trade live here.Apple tumbled as much as 4% on Tuesday as the company unveiled its latest iPhones.The tech giant revealed its fir...
Tags: Iphone, Apple, Amc, Trends, Markets, Goldman Sachs, Biden, Apple Market Cap, Apple Stock, Aapl, Wedbush, Apple Apple, Neuberger Berman, Tech Insider, New Iphone, Iphone Event


Apple climbs as Wedbush says it will benefit from 'once in a decade' iPhone 12 launch that spurs strong demand

FILE PHOTO: A salesman uses his iPhone at a mobile phone store in New Delhi Reuters Apple surged 4% on Monday ahead of its Tuesday "Hi, Speed" event, where it's expected to officially launch its next generation iPhone 12.According to Wedbush, Apple's iPhone 12 will represent a "once in a decade" launch as it officially kicks off its 5G supercycle.Based on channel checks by Wedbush, Apple and its suppliers are anticipating "stepped-up" demand for its 6.7-inch iPhone 12 Pro Max model.Strong d...
Tags: Apple, Trends, Morgan Stanley, New Delhi, Wedbush, Reuters Apple, Cook Co, Matthew Fox, Apple Morgan Stanley, Wedbush Apple


$185M Spent By Gig Economy Giants Uber, Lyft And Others To Try And Pass Prop. 22

(CBS13/CNN) — At first, Uber and Lyft driver Michael Richert was undecided about how he would vote on Proposition 22, a California ballot initiative sponsored by gig economy giants Uber, Lyft, DoorDash, Instacart and Uber-owned Postmates that comes up for a vote in November. Then, he found out how much they were spending to get it passed: over $185 million, according to California Secretary of State records. Richert said he was “blown away” by the amount, and started looking into what’s really a...
Tags: Lyft, Uber, Business, Politics, News, Abc, California, California News, Cnn, David, UC Berkeley, Irs, National Labor Relations Board, Stanford University, Postmates, Southern California