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Tesla (TSLA) shares staged a strong rally this week, rising about 27% on the strength of upbeat second-quarter deliveries numbers.
The stock finished Friday at $251.52, up from last week's close of $197.88. They rose about 2% on Friday, retreating somewhat from a year-to-date high of $252.37 earlier in the session.
On Tuesday, the Elon Musk-led electric vehicle (EV) maker reported second-quarter deliveries of 443,956 vehicles, which topped analysts' consensus estimate of about 439,000.
Analysts have largely reacted positively to Tesla's deliveries data, with Bank of America and Wedbush Securities analysts raising their price targets to $260 and $300, respectively, from $220 and $275. J.P. Morgan analysts were cooler on the deliveries numbers, maintaining an "underweight" rating and price target of just $115.
“In a nutshell, the worst is in the rear-view mirror for Tesla as we believe the EV demand story is starting to return to the disruptive tech stalwart ahead,” Wedbush analysts said.
Tesla shares had dropped as low as $138.80 on April 22 after closing 2023 at $248.48. Friday marked the first day since Jan. 2 — the first trading day of 2024— that Tesla went into positive territory at all this year. As of Friday's close, they were just barely in the green for the year, up less than a tenth of a percent.
Looking ahead, analysts also pointed to Tesla’s planned “Robotaxi Day” on August 8, when Musk said the company will unveil an autonomous driving taxi.
"We continue to believe that Tesla is more of an AI and robotics play than a traditional car company," Wedbush analysts said. "...[N]ow the rubber meets the road as the Street anticipates August 8th as a key linchpin day for the Tesla story."
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Americans love their ultra-processed foods, whether they come as cereal (like Cap'n Crunch, a favorite of mine as a kid), snack foods (like Cheetos), entr'es (like hot dogs), or desserts (like Twinkies). Sure, loading your plate with vegetables, fruits, fish, healthful oils, and grains in a Mediterranean-style diet boosts heart and brain health. But if you also eat some ultra-processed foods, is that bad for your brain health?
What to know about this new study
A new study appears to deliver resounding yes: eating ultra-processed foods is linked to a greater risk of cognitive impairment and strokes.
This well-designed observational study examined data from the REGARDS (REasons for Geographic And Racial Differences in Stroke) project, a longitudinal study of non-Hispanic Black and white Americans ages 45 years and older. Study participants were initially enrolled between 2003 and 2007 and were given a number of questionnaires evaluating health, diet, exercise, body mass index, education, income, alcohol use, mood, and other factors. In addition, tests of memory and language were administered at regular intervals.
To examine the risk of stroke and cognitive impairment, data from 20,243 and 14,175 participants, respectively, were found usable based on the quality of the information from the questionnaires and tests. Approximately one-third of the sample identified as Black and the majority of the remaining two-thirds identified as white.
The results of the study
Study participants who reported following a healthy diet (like a Mediterranean, DASH, or MIND diet) and consumed minimal ultra-processed foods appeared to maintain better brain health compared to those who followed similar healthy diets but had more ultra-processed foods.
Why might ultra-processed foods be bad for your brain?
Here are some biologically plausible reasons:
The take-home message
Avoid processed foods, which can include chips and other snack foods, industrial breads and pastries, packaged sweets and candy, sugar-sweetened and diet sodas, instant noodles and soups, ready-to-eat meals and frozen dinners, and processed meats such as hot dogs and bologna. Eat unprocessed or minimally processed foods, which — when combined with a healthy Mediterranean menu of foods — include fish, olive oil, avocados, whole fruits and vegetables, nuts and beans, and whole grains.
Source: Harvard Health Publishing
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Billionaire businessman Tony Elumelu has admitted to not possessing all the talents to be a successful entrepreneur, but rather surrounding himself with people who have talents.
According to him, any individual trying to succeed must recognize his limitations and surround themselves with people who can compliment them.
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Amazon (AMZN) on Friday was sent a formal request for information by the European Commission on how the body has complied with the body’s Digital Services Act (DSA).
The tech giant has been asked to provide information on the Amazon Store's Ad Library, specifically regarding whether it includes an option to deliver recommendations without using user profiling data. The company is required to release its information by July 26.
"Amazon is asked to provide detailed information on its compliance with the provisions concerning transparency of the recommender systems, the input factors, features, signals, information and metadata applied for such systems and options offered to users to opt out of being profiled for the recommender systems," it said.
If the European Commission, the European Union (EU)'s enforcement arm, believes Amazon is in violation of the DSA, it can open an investigation and, if found guilty, the company could be fined up to 6% of its "worldwide annual turnover."
“We are reviewing this request and working closely with the European Commission," an Amazon spokesperson told . "Amazon shares the goal of the European Commission to create a safe, predictable and trusted shopping environment. We think this is important for all participants in the retail industry, and we invest significantly in protecting our store from bad actors, illegal content, and in creating a trustworthy shopping experience. We have built on this strong foundation for DSA compliance.”
The Commission has been busy lately. On Thursday, reported that it is expected to level a formal warning against X, the Elon Musk-owned social media network formerly known as Twitter, for failing to combat dangerous content.
Earlier this week, it accused Meta Platforms' (META) practice of "pay or consent" advertising on Instagram and Facebook of violating the new Digital Markets Act (DMA), and charged Apple (AAPL) with its own DMA violation for unfairly restricting how developers can seek payments.
Amazon shares were up 1.1% to $199.84 as of 1:09 p.m. ET Friday. They have gained more than 30% year-to-date.
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The Chinese government has reportedly become a buyer of Tesla (TSLA) vehicles.
Reports from Reuters and other publications cited Chinese state-owned media outlet The Paper as saying Teslas were for the first time eligible for government procurement in that country, specifically saying that the starting price of the Model Y comes in below the country's restrictions for SUVs.
It’s been a good week for the electric vehicle (EV) maker, shares of which were up about 0.8% in late morning trading and near-flat for the year.
On Tuesday, the company posted second-quarter deliveries of 443,946, and while that was a 5% decline from a year ago, it beat analysts’ estimates. The next day, Wedbush and Bank of America raised their price targets on the stock.
Wedbush analysts said the deliveries were “a major turning point” for the carmaker after what it called a “very choppy” start to 2024. Bank of America noted that more lower-priced EV models should drive volumes this year.
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Special Spesh, the hypeman to singer David Adeleke, better known as Davido, has thrown shade at Sophia Momodu.
In the wake of the singer’s messy custody battle with her, Spesh took to his Instagram page to share a photo of him with a shady caption. He stated that body is peppering Sophia Momodu as Davido marrying Chioma pained her.
“Body dey pepper dem!!! Chivido pain Dem!! Officially my most stup!d pic!! I got some good skin tho!!”.
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