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Stocks down as automakers, Boeing lead China's hit list in trade spat

Shares in U.S. exporters of everything from planes to tractors fell on Wednesday after China retaliated against the Trump administration's tariff plans by proposing duties on key U.S. imports including soybeans, beef and chemicals. U.S. automakers' products are prominent on China's list of tariff targets, yet shares of automakers ended higher on Wednesday as Wall Street stocks changed course in the afternoon when investors' trade fears subsided. Tesla shares closed 7.3 percent higher at $286.94, Ford shares gained 1.6 percent to close at $11.33, and GM shares were up 3 percent at $38.03. Aircraft maker Boeing closed down 1 percent, weighing the most on the Dow Jones Industrial Average as documents from China's Ministry of Commerce and the U.S. manufacturer showed the move would affect some older Boeing narrowbody models. It was not immediately clear how much the tariffs would impact its newer aircraft. Boeing said it was assessing the situation while analysts from JP Morgan said the proposals from China looked to have been calibrated carefully to avoid a major impact on the planemaker. Fellow Dow component 3M lost as much as 2.4 percent. And farming equipment maker Deere lost nearly $10 per share at its lowest. The company urged the two countries to work toward a resolution to "limit uncertainty for farmers and avoid meaningful disruptions to agricultural trade." The speed with which the trade spat between Washington and Beijing is ratcheting up — the Chinese government took less than 11 hours to respond with its own measures — led to a sharp selloff in global stock markets and commodities. China was hitting back against U.S. President Donald Trump's plans to impose tariffs on $50 billion in Chinese goods with similar tariffs on U.S. goods even as Trump said the country is "not in a trade war with China." "Everybody knew they were going to retaliate. The question was how strong of a retaliation. Today's move clearly shows that they mean business," said Adam Sarhan, chief executive of 50 Park Investments in New York. China levied 25 percent additional tariffs on U.S. goods, but unlike Washington's list that covers many obscure industrial items, Beijing's covers 106 key U.S. imports including soybeans, planes, cars, whiskey and chemicals. Trump denied that the tit-for-tat moves amounted to a trade war between the world's two economic superpowers.

Porsche and Dodge lead JD Power's 2020 APEAL Study

This may sound obvious, but we'll say it anyway: if an automaker delivers exactly the ownership experience that buyers are looking for and have come to expect, they are going to score well in studies designed to measure a vehicle’s appeal. ThatÂ’s why Porsche, with a score of 881, sits at the top of all vehicle brands in JD PowerÂ’s 2020 Automotive Performance, Execution and Layout (APEAL) Study, which is designed to gauge how owners feel about their vehicles on an emotional level. And it's also why Dodge's score of 872 leads all Mass-Market brands, followed closely by corporate cousin Ram. It's worth noting that Dodge — a brand primarily known these days for packing as much horsepower into its aging lineup as possible — was also atop JD Power's 2020 Initial Quality Study (IQS) rankings, making it the first domestic automaker to lead both categories in the same year. Before we continue on with the rest of the winners and losers, we'll mention that Tesla is only unofficially included in this year's study because it did not grant JD Power permission to contact owners of its vehicles in 15 states. Still, the study includes results from surveys completed in the remaining 35 states, and if Tesla had been officially included it would have led all brands with a projected score of 896. Conversely, Tesla would have sat at the very bottom in JD Power's IQS rankings. That means Tesla owners report more problems with their vehicles than owners of any other brand, yet they still love and connect with them on an emotional level. In the Premium rankings, the top five brands were Porsche, Lincoln (876), Cadillac (874), BMW (869) and Land Rover (866). At the bottom of the Premium rankings sit Acura and Audi (tied at 845). Following Dodge and Ram (871) in the Mass-Market category are GMC (857), Ford (853) and Mini (846). Interestingly, there isn't a Japanese brand anywhere in the top five of either category, with Lexus' score of 859 only good enough for eighth spot in the Premium category. The worst performers overall were Volkswagen (832), Mitsubishi (829), Chrysler (828), Toyota (825) and Jeep (822). When asked why Jeep, a brand with a massive fanbase and desirable models like the Wrangler and Gladiator, could land at the very bottom of its rankings, JD Power's Dave Sargent explained that what people love about Jeeps is not necessarily captured in this study.

Tesla sold 6,892 Model S EVs in Q4, stock jumps in afterhours trading

Quarterly shareholder letters, with accompanying financial results, are an opportunity for companies to crow about their recent progress and instill excitement about future expectations. Tesla Motor's latest such release reveals it's coop is rife with roosters in full song. And for good reason. The California automaker announced today it earned $46 million in 4th quarter of 2013 on a non-GAAP basis – under generally accepted accounting principles (GAAP), which calculates leasing and stock-based employee remuneration differently, it actually lost $16 million – selling 6,892 very lovely Model S electric sedans in the process. Further, it passed its predicted 25 percent gross profit margin on its cars, hitting 25.8 percent on a non-GAAP basis. This means, for the fiscal year of 2013 it sold 22,477 vehicles in total and had over 2.5 billion in (non-GAAP) sales, which includes, of course, supply and development deals with Toyota and Daimler. TSLA has jumped to a record high in the $217 neighborhood. That's pretty durned good, and the stock market would seem to agree. With the financials results dropping just after the NASDAQ's close, the price for TSLA has jump around 12 percent – over $23 as of this writing – to a record high in the $217 neighborhood. Those share price increases aren't just based on past performance, though. The info drop also included plenty of things to indicate the future bodes well. The company expects both sales and production to continue to rise throughout 2014, with a new assembly line expected to help churn out 1,000 cars per week in the 3rd quarter and profit margins projected to hit 28 percent by the end of the year. On the demand side, Tesla's CEO Elon Musk stated during the conference call that he doesn't expect the company to be able to meet the demand that's coming from China. Its new Beijing store is now the company's biggest and busiest and deliveries don't even begin until spring. While European sales are a little slower than anticipated, the exec said he believes it will improve as soon as the company irons out a few technical difficulties that have arisen with charging amongst the different territories there. Apparently, not all power grids operate in exactly the same way. Speaking of reservations for the upcoming Model X SUV, Elon said demand is high. Quote: "If you are going fishing, fish are actually jumping in the boat." That vehicle is only expected to start reaching customers next spring.